CLAVERING SUPERMARKET LIMITED

Company Registration Number:
05409325 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2023

Period of accounts

Start date: 01 April 2022

End date: 31 March 2023

CLAVERING SUPERMARKET LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2023

Balance sheet
Notes

CLAVERING SUPERMARKET LIMITED

Balance sheet

As at 31 March 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 138,431 892
Total fixed assets: 138,431 892
Current assets
Stocks: 82,263 77,941
Debtors:   15,000 17,518
Cash at bank and in hand: 661,997 769,978
Total current assets: 759,260 865,437
Creditors: amounts falling due within one year:   (100,960) (195,864)
Net current assets (liabilities): 658,300 669,573
Total assets less current liabilities: 796,731 670,465
Creditors: amounts falling due after more than one year:   (40,000) 0
Provision for liabilities: (30,189) 0
Total net assets (liabilities): 726,542 670,465
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 726,442 670,365
Shareholders funds: 726,542 670,465

The notes form part of these financial statements

CLAVERING SUPERMARKET LIMITED

Balance sheet statements

For the year ending 31 March 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 31 October 2023
and signed on behalf of the board by:

Name: Mr M M Visana
Status: Director

The notes form part of these financial statements

CLAVERING SUPERMARKET LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

TurnoverTurnover is recognised at the fair value of the consideration received for goods and services net of VAT.

Tangible fixed assets and depreciation policy

Tangible fixed assetsTangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net ofdepreciation and any impairment losses.Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over theiruseful lives on the following bases:Fixtures, fittings and equipment 15% straight lineMotor vehicle 25% reducing balanceThe gain or loss arising on the disposal of an asset is determined as the difference between the saleproceeds and the carrying value of the asset, and is credited or charged to the profit and loss account.

Valuation and information policy

StockStock is stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprisesof finished goods.

Other accounting policies

Financial instrumentsThe company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.Financial instruments are recognised in the company's balance sheet when the company becomes party tothe contractual provisions of the instrument.Basic financial assetsBasic financial assets, which include debtors and cash and bank balances, are initially measured attransaction price including transaction costs and are subsequently carried at amortised cost using theeffective interest method unless the arrangement constitutes a financing transaction, where the transaction ismeasured at the present value of the future receipts discounted at a market rate of interest. Financial assetsclassified as receivable within one year are not amortised.Derecognition of financial assetsFinancial assets are derecognised only when the contractual rights to the cash flows from the asset expire orare settled, or when the company transfers the financial asset and substantially all the risks and rewards ofownership to another entity, or if some significant risks and rewards of ownership are retained but control ofthe asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.Basic financial liabilitiesBasic financial liabilities, including creditors is initially recognised at transaction price unless the arrangementconstitutes a financing transaction, where the debt instrument is measured at the present value of the futurepayments discounted at a market rate of interest. Financial liabilities classified as payable within one year arenot amortised.Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course ofbusiness from suppliers. Amounts payable are classified as current liabilities if payment is due within one yearor less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially attransaction price and subsequently measured at amortised cost using the effective interest method.Derecognition of financial liabilitiesFinancial liabilities are derecognised when the company’s contractual obligations expire or are discharged orcancelled.TaxationThe tax expense represents the sum of the tax currently payable and deferred tax.Current taxThe tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit asreported in the profit and loss account because it excludes items of income or expense that are taxable ordeductible in other years and it further excludes items that are never taxable or deductible. The company’sliability for current tax is calculated using tax rates that have been enacted or substantively enacted by thereporting end date.Deferred taxDeferred tax liabilities are generally recognised for all timing differences and deferred tax assets arerecognised to the extent that it is probable that they will be recovered against the reversal of deferred taxliabilities or other future taxable profits.Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settledor the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when itrelates to items charged or credited directly to equity, in which case the deferred tax is also dealt with inequity.

CLAVERING SUPERMARKET LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

2. Employees

2023 2022
Average number of employees during the period 9 9

CLAVERING SUPERMARKET LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

3. Tangible Assets

Total
Cost £
At 01 April 2022 127,555
Additions 146,946
Disposals (125,555)
At 31 March 2023 148,946
Depreciation
At 01 April 2022 126,663
Charge for year 9,407
On disposals (125,555)
At 31 March 2023 10,515
Net book value
At 31 March 2023 138,431
At 31 March 2022 892

CLAVERING SUPERMARKET LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

4. Related party transactions

Name of the related party:
Relationship:
Directors
Description of the Transaction: At the balance sheet date, £62,885 (2022 - £93,550) was owed to certain directors. The unsecured loan isprovided free of any interest charge and without any repayment terms.
£
Balance at 01 April 2022 93,550
Balance at 31 March 2023 62,885
Name of the related party:
Relationship:
Related party company
Description of the Transaction: At the balance sheet, £15,000 (2022 - £15,000) was owed by a related party company. The company iscontrolled by certain directors. The unsecured loan is provided free of any interest charge and without anyrepayment terms.
£
Balance at 01 April 2022 15,000
Balance at 31 March 2023 15,000