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REGISTERED NUMBER: 08564211 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 July 2023

for

Bristol Sweet Mart Limited

Bristol Sweet Mart Limited (Registered number: 08564211)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Bristol Sweet Mart Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: A G K Ismail
S K Ismail
Y K Majothi
R K Majothi





REGISTERED OFFICE: Redland House
157 Redland Road
Redland
Bristol
BS6 6YE





REGISTERED NUMBER: 08564211 (England and Wales)





ACCOUNTANTS: Wormald & Partners
Chartered Accountants (ICAEW)
Redland House
157 Redland Road
Redland
Bristol
BS6 6YE

Bristol Sweet Mart Limited (Registered number: 08564211)

Balance Sheet
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 101,763 122,116
Tangible assets 5 1,583,290 1,622,491
1,685,053 1,744,607

CURRENT ASSETS
Stocks 703,544 642,126
Debtors 6 294,872 319,133
Cash at bank and in hand 28,085 24,449
1,026,501 985,708
CREDITORS
Amounts falling due within one year 7 1,492,842 1,432,079
NET CURRENT LIABILITIES (466,341 ) (446,371 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,218,712

1,298,236

CREDITORS
Amounts falling due after more than one year 8 (310,547 ) (397,086 )

PROVISIONS FOR LIABILITIES (28,782 ) (32,050 )
NET ASSETS 879,383 869,100

CAPITAL AND RESERVES
Called up share capital 400 400
Fair value reserve 10 693,119 693,119
Retained earnings 185,864 175,581
SHAREHOLDERS' FUNDS 879,383 869,100

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Bristol Sweet Mart Limited (Registered number: 08564211)

Balance Sheet - continued
31 July 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 October 2023 and were signed on its behalf by:




A G K Ismail - Director S K Ismail - Director




Y K Majothi - Director R K Majothi - Director


Bristol Sweet Mart Limited (Registered number: 08564211)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Bristol Sweet Mart Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of existing business, is being amortised over its remaining useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 33.33% on reducing balance basis, 25% on reducing balance basis and 15% on reducing balance basis

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 47 (2022 - 46 ) .

Bristol Sweet Mart Limited (Registered number: 08564211)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 203,526
AMORTISATION
At 1 August 2022 81,410
Charge for year 20,353
At 31 July 2023 101,763
NET BOOK VALUE
At 31 July 2023 101,763
At 31 July 2022 122,116

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2022
and 31 July 2023 1,545,000 276,877 1,821,877
DEPRECIATION
At 1 August 2022 20,600 178,786 199,386
Charge for year 20,600 18,601 39,201
At 31 July 2023 41,200 197,387 238,587
NET BOOK VALUE
At 31 July 2023 1,503,800 79,490 1,583,290
At 31 July 2022 1,524,400 98,091 1,622,491

Land and buildings were valued at £1,545,000 on 29 July 2021 by an independent valuer - Balden Commercial Property Consultants.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 269,560 276,500
Other debtors 25,312 42,633
294,872 319,133

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 235,250 237,045
Hire purchase contracts 6,507 8,708
Trade creditors 1,024,697 905,437
Taxation and social security 122,570 153,253
Other creditors 103,818 127,636
1,492,842 1,432,079

Bristol Sweet Mart Limited (Registered number: 08564211)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 305,667 385,699
Hire purchase contracts 4,880 11,387
310,547 397,086

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Lloyds loan account 1 240,640 278,629
Lloyds loan 10,706 16,570
251,346 295,199

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 155,784 157,579
Bank loans 385,133 465,165
540,917 622,744

Bank Loans are secured through a legal charge over freehold properties at 71, 73,75,78,80,82 & 84 St Marks Road, Bristol and on 26 & 27 Henrietta Street, Bristol.

10. RESERVES
Fair
value
reserve
£   
At 1 August 2022
and 31 July 2023 693,119