Registered number
11367168
AYAZ SUPERMARKET LIMITED
Filleted Accounts
31 May 2023
AYAZ SUPERMARKET LIMITED
Registered number: 11367168
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 25,052 26,598
Current assets
Stocks 53,570 43,690
Debtors 4 - 2,727
Cash at bank and in hand 39,874 25,179
93,444 71,596
Creditors: amounts falling due within one year 5 (22,935) (14,309)
Net current assets 70,509 57,287
Total assets less current liabilities 95,561 83,885
Creditors: amounts falling due after more than one year 6 (80,359) (69,465)
Net assets 15,202 14,420
Capital and reserves
Called up share capital 100 100
Profit and loss account 15,102 14,320
Shareholder's funds 15,202 14,420
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 member has 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.
Turabi KILINC
Director
Approved by the board on 31 January 2024
AYAZ SUPERMARKET LIMITED
Notes to the Accounts
for the year ended 31 May 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, excluding in the year of acquisition, at rates calculated to write off the cost, less estimated residual value, @18% per annum ( 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 4 4
3 Tangible fixed assets
Fix, fittings & equipment
£
Cost
At 1 June 2022 35,256
Additions 3,242
At 31 May 2023 38,498
Depreciation
At 1 June 2022 8,658
Charge for the year 4,788
At 31 May 2023 13,446
Net book value
At 31 May 2023 25,052
At 31 May 2022 26,598
4 Debtors 2023 2022
£ £
Prepayments & other debtors - 2,727
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans 11,184 11,184
Taxation and social security costs 3,831 2,203
Other creditors 7,920 922
22,935 14,309
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 33,859 44,765
Other creditors 46,500 24,700
80,359 69,465
7 Other information
AYAZ SUPERMARKET LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
92 Gillespie Road
London
N5 1LN
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