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Registered Number: 11204720


 

 

 

FOOD BAZAR (LDN) LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 March 2022

End date: 28 February 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 605,298    585,354 
605,298    585,354 
Current assets      
Stocks 4 882,339    640,500 
Debtors 5 1,009,028    551,937 
Cash at bank and in hand 207,789    453,008 
2,099,156    1,645,445 
Creditors: amount falling due within one year 6 (1,446,891)   (1,039,258)
Net current assets 652,265    606,187 
 
Total assets less current liabilities 1,257,563    1,191,541 
Creditors: amount falling due after more than one year 7   (5,705)
Accruals and deferred income (1)  
Net assets 1,257,562    1,185,836 
 

Capital and reserves
     
Called up share capital 10,000    10,000 
Profit and loss account 1,247,562    1,175,836 
Shareholder's funds 1,257,562    1,185,836 
 


For the year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges 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 financial statements were approved by the director on 29 November 2023 and were signed by:


-------------------------------
Aklu Miah
Director
1
General Information
FOOD BAZAR (LDN) LTD is a private company, limited by shares, registered in , registration number 11204720, registration address Unit 2 Beckton Retail Park, Alpine Way, ENGLAND, ENGLAND, E6 6LA.

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.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognized in the statement of income, except to the extent that it relates to items recognized in other comprehensive income or directly in capital and reserves. The companys 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.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
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:
Land and Buildings 0% Reducing Balance
Plant and Machinery 15% Reducing Balance
Motor Vehicles 15% Reducing Balance
Fixtures and Fittings 15% Reducing Balance
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

Average number of employees during the year was 40 (2022 : 41).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Land and Buildings   Total
  £   £   £   £   £
At 01 March 2022 346,101    87,713    402,038    21,768    857,620 
Additions 50,333      72,587      122,920 
Disposals        
At 28 February 2023 396,434    87,713    474,625    21,768    980,540 
Depreciation
At 01 March 2022 140,188    22,408    109,670      272,266 
Charge for year 38,437    9,796    54,743      102,976 
On disposals        
At 28 February 2023 178,625    32,204    164,413      375,242 
Net book values
Closing balance as at 28 February 2023 217,809    55,509    310,212    21,768    605,298 
Opening balance as at 01 March 2022 205,913    65,305    292,368    21,768    585,354 

The net book value of Land and Buildings includes £ 21,768 (2022 £21,768) in respect of assets leased under finance leases or hire purchase contracts.

4.

Stocks

2023
£
  2022
£
Stocks 882,339    640,500 
882,339    640,500 

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Loan to Kacha Bazar Int Ltd 225,000    200,000 
Loan to Mas bazar Ltd (QSF) 130,000    100,000 
Loan to Mr Shahed (FBL) 25,909    47,576 
VAT receivable from HMRC 431,217    204,361 
Advance for Purchases 221,365   
1,033,491    551,937 

5.

Debtors: amounts falling due after one year

2023
£
  2022
£
Directors Loan Accounts (24,463)  
(24,463)  

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 1,256,458    926,472 
Corporation Tax 129,139    68,360 
PAYE & Social Security 55,027    21,334 
Wages & Salaries Control Account 6,267    23,092 
1,446,891    1,039,258 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Finance Lease & HP Contracts   5,705 
  5,705 

2