Registered number
08143634
Azo Supermarket Limited
Filleted Accounts
31 July 2018
Azo Supermarket Limited
Registered number: 08143634
Balance Sheet
as at 31 July 2018
Notes 2018 2017
£ £
Fixed assets
Tangible assets 2 2,964 3,615
Current assets
Stocks 35,225 36,250
Debtors 3 5,062 5,062
Cash at bank and in hand 6,114 7,777
46,401 49,089
Creditors: amounts falling due within one year 4 (1,598) (2,227)
Net current assets 44,803 46,862
Total assets less current liabilities 47,767 50,477
Creditors: amounts falling due after more than one year 5 (37,674) (29,394)
Net assets 10,093 21,083
Capital and reserves
Called up share capital 100 100
Profit and loss account 9,993 20,983
Shareholder's funds 10,093 21,083
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Aziz Kaygisiz
Director
Approved by the board on 13 November 2018
Azo Supermarket Limited
Notes to the Accounts
for the year ended 31 July 2018
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, as follows:
Fix, fittings & equipment 18% Reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A corporation tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Corporation tax liabilty is not discounted.
2 Tangible fixed assets
Fix, fittings & equipment
£
Cost
At 1 August 2017 9,750
At 31 July 2018 9,750
Depreciation
At 1 August 2017 6,135
Charge for the year 651
At 31 July 2018 6,786
Net book value
At 31 July 2018 2,964
At 31 July 2017 3,615
3 Debtors 2018 2017
£ £
Deposit paid 5,062 5,062
4 Creditors: amounts falling due within one year 2018 2017
£ £
Corporation tax - 680
Other taxes and social security costs 1,598 1,181
Other creditors - 366
1,598 2,227
5 Creditors: amounts falling due after one year 2018 2017
£ £
Other creditors 37,674 29,394
6 Other information
Azo Supermarket Limited is a private company limited by shares and incorporated in England. Its registered office is:
818 Hertford Road
Enfield
London
EN3 6UE
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