Registered number
10546583
HOPE MINIMARKET LTD
Filleted Accounts
31 January 2023
HOPE MINIMARKET LTD
Registered number: 10546583
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 2 89,094 89,094
Tangible assets 3 25,225 32,393
114,319 121,487
Current assets
Stocks 4 25,000 20,000
Debtors 116,934 133,560
Cash at bank and in hand 15,469 21,922
157,403 175,482
Creditors: amounts falling due within one year 6 (80,005) (22,326)
Net current assets 77,398 153,156
Total assets less current liabilities 191,717 274,643
Creditors: amounts falling due after more than one year 7 (34,933) (154,536)
Net assets 156,784 120,107
Capital and reserves
Called up share capital 100 100
Profit and loss account 156,684 120,007
Shareholder's funds 156,784 120,107
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.
Mehmet Umut
Director
Approved by the board on 9 October 2023
HOPE MINIMARKET LTD
Notes to the Accounts
for the year ended 31 January 2023
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 and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery 20% Reducing balance method
Fixtures, fittings, tools and equipment over 5 years
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. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 4
3 Intangible fixed assets £
Goodwill:
Cost
At 1 February 2022 89,094
At 31 January 2023 89,094
Amortisation
At 31 January 2023 -
Net book value
At 31 January 2023 89,094
At 31 January 2022 89,094
Goodwill is not being written off.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2022 27,818 18,000 45,818
Additions 982 - 982
At 31 January 2023 28,800 18,000 46,800
Depreciation
At 1 February 2022 9,825 3,600 13,425
Charge for the year 4,550 3,600 8,150
At 31 January 2023 14,375 7,200 21,575
Net book value
At 31 January 2023 14,425 10,800 25,225
At 31 January 2022 17,993 14,400 32,393
5 Debtors 2023 2022
£ £
Trade debtors 2,871 20,794
Amounts owed by group undertakings and undertakings in which the company has a participating interest 110,000 110,000
Other debtors 4,063 2,766
116,934 133,560
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 15,190 4,761
Taxation and social security costs 37,755 17,497
Other creditors 27,060 68
80,005 22,326
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 34,933 44,536
Other creditors - 110,000
34,933 154,536
8 Controlling party
The company is under the control of its own director.
9 Other information
HOPE MINIMARKET LTD is a private company limited by shares and incorporated in England. Its registered office is:
193 Park Lane
Tottenham
London
N17 0HJ
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