Registered number
10068599
MCK Supermarket Ltd
Filleted Accounts
31 March 2023
MCK Supermarket Ltd
Registered number: 10068599
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 26,629 32,474
Current assets
Stocks 57,950 28,800
Debtors 4 1,557 18,362
Cash at bank and in hand 3,318 8,761
62,825 55,923
Creditors: amounts falling due within one year 5 (9,193) (15,540)
Net current assets 53,632 40,383
Total assets less current liabilities 80,261 72,857
Creditors: amounts falling due after more than one year 6 (7,200) -
Net assets 73,061 72,857
Capital and reserves
Called up share capital 100 100
Profit and loss account 72,961 72,757
Shareholders' funds 73,061 72,857
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 members have 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 Bulent Kuran
Director
Approved by the board on 11 August 2023
MCK Supermarket Ltd
Notes to the Accounts
for the year ended 31 March 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. 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 all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, as follows:
Fix, fittings & equipment 18% reducing balance method.
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. A corporation tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Corporation tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 12 12
3 Tangible fixed assets
Fix, fittings & equipment
£
Cost
At 1 April 2022 79,941
At 31 March 2023 79,941
Depreciation
At 1 April 2022 47,467
Charge for the year 5,845
At 31 March 2023 53,312
Net book value
At 31 March 2023 26,629
At 31 March 2022 32,474
4 Debtors 2023 2022
£ £
Prepayments & other debtors 1,557 18,362
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 651 952
Corporation tax 2,394 12,470
Other taxes and social security costs 135 2,118
Other creditors 6,013 -
9,193 15,540
6 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 7,200 -
7 Other information
MCK Supermarket Ltd is a private company limited by shares and incorporated in England. Its registered office is:
136-140 Desborough Road
High Wycombe
HP11 2PU
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