Registered number
11036500
Zahla Supermarket Limited
Report and Financial Statements
31 October 2022
Zahla Supermarket Limited
Registered number: 11036500
Director's Report
The director presents his report and financial statements for the year ended 31 October 2022.
Principal activities
The company's principal activity during the year continued to be that of being a supermarket.
Directors
The following persons served as directors during the year:
G Mantato
S S Ahmed
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 26 October 2023 and signed on its behalf.
G Mantato
Director
Zahla Supermarket Limited
Profit and Loss Account
for the year ended 31 October 2022
2022 2021
£ £
Turnover 5,585,624 4,230,825
Cost of sales (4,256,199) (2,717,510)
Gross profit 1,329,425 1,513,315
Administrative expenses (631,450) (1,483,788)
Operating profit 697,975 29,527
Interest receivable 6 2
Interest payable (421) (376)
Profit on ordinary activities before taxation 697,560 29,153
Tax on ordinary activities 2,309 (2,309)
Profit for the financial year 699,869 26,844
Zahla Supermarket Limited
Registered number: 11036500
Balance Sheet
as at 31 October 2022
Notes 2022 2021
£ £ £ £
Fixed assets
Tangible assets 3 770,314 53,614
Current assets
Stocks 41,597 25,755
Debtors 4 11,417 4,186
Cash at bank and in hand 62,613 53,645
115,627 83,586
Creditors: amounts falling due within one year 5 (45,699) (35,301)
Net current assets 69,928 48,285
Total assets less current liabilities 840,242 101,899
Creditors: amounts falling due after more than one year 6 (44,267) (5,793)
Net assets 795,975 96,106
Capital and reserves
Called up share capital 100 100
Profit and loss account 795,875 96,006
Shareholders' funds 795,975 96,106
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.
G Mantato
Director
Approved by the board on 26 October 2023
Zahla Supermarket Limited
Notes to the Accounts
for the year ended 31 October 2022
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.
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:
Plant and machinery 15% reducing balance basis
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 15 8
3 Tangible fixed assets
Plant and machinery etc Total
£ £
Cost
At 1 November 2021 74,109 74,109
Additions 852,638 852,638
At 31 October 2022 926,747 926,747
Depreciation
At 1 November 2021 20,495 20,495
Charge for the year 135,938 135,938
At 31 October 2022 156,433 156,433
Net book value
At 31 October 2022 770,314 770,314
At 31 October 2021 53,614 53,614
4 Debtors 2022 2021
£ £
Other debtors 11,417 4,186
11,417 4,186
5 Creditors: amounts falling due within one year 2022 2021
£ £
Trade creditors 24,818 18,426
Corporation tax - 2,309
Other taxes and social security costs 12,691 7,418
Other creditors 8,190 7,148
45,699 35,301
6 Creditors: amounts falling due after one year 2022 2021
£ £
Other creditors 44,267 5,793
7 Other information
Zahla Supermarket Limited is a private company limited by shares and incorporated in England. Its registered office is:
1 Izabella House
24-26 Regent Place
City Centre
Birmingham
B1 3NJ
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