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Registered Number: 09482104
England and Wales

 

 

 

SHAH SUPERMARKET LTD


Abridged Accounts
 


Period of accounts

Start date: 01 April 2022

End date: 31 March 2023
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 March 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Temiz Associates Ltd T-A Temiz & Co Accountant
31 March 2023



....................................................
Temiz Associates Ltd T-A Temiz & Co Accountant
Chartered Public Finance Accountant
73 High Street
Gillingham
Kent
ME7 1BJ
28 November 2023
1
 
 
Notes
 
2023
£
  2022
£
Current assets      
Debtors: amounts falling due after one year 145,792    168,571 
Cash at bank and in hand (6,516)   (9,972)
139,276    158,599 
Creditors: amount falling due within one year (27,564)   (22,170)
Net current assets 111,712    136,429 
 
Total assets less current liabilities 111,712    136,429 
Creditors: amount falling due after more than one year (53,283)   (77,347)
Net assets 58,429    59,082 
 

Capital and reserves
     
Called up share capital 3 100    100 
Profit and loss account 58,329    58,982 
Shareholder's funds 58,429    59,082 
 


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

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 28 November 2023 and were signed on its behalf by:


-------------------------------
Omer Firat
Director
2
General Information
SHAH SUPERMARKET LTD is a private company, limited by shares, registered in England and Wales, registration number 09482104, registration address 73 High Street, Gillingham, Kent, ME7 1BJ. The trading address of the company is 144 Mount Pleasant Road, Hastings, TN34 3SN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.

Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

During the year directors wre responsible for the day to day management of the company.
Average number of employees during the year was 0 (2022 : 2).
3.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
100 Class A shares of £1.00 each 100    100 
100    100 

4.

Advances and Credits



Shah UK Property Ltd
During the year Shah Supermarket Ltd provided a credit to Shah UK Property Ltd. Total balance due to the company £145792 (2022:£168,571) with an interest.

Current year (2023)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
WrittenOff
£
Waived
£
Carry Forward
£
Shah UK Property Ltd168,571 24,577 3,439 50,795 145,792 
1685712457734395079500145792
Previous year (2022)
Brought Forward
£
Amount
£
Interest
£
Repaid
£
WrittenOff
£
Waived
£
Carry Forward
£
Shah UK Property Ltd144,234 15,549 8,788 168,571 
144234155498788000168571
5.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2023
£
 2022
£
 2023
£
 2022
£
Mr Omer Firat & Huseyin Uzum20,928 35,288 (20,928)(35,299)
3