Registered number
11455426
ANNAPURNA GROCERY LTD
Filleted Accounts
31 July 2023
ANNAPURNA GROCERY LTD
Registered number: 11455426
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 25,000 25,000
Tangible assets 4 75,804 79,989
100,804 104,989
Current assets
Stocks 61,500 18,500
Debtors 5 20,084 7,778
Cash at bank and in hand 13,560 11,704
95,144 37,982
Creditors: amounts falling due within one year 6 (155,396) (59,592)
Net current liabilities (60,252) (21,610)
Total assets less current liabilities 40,552 83,379
Creditors: amounts falling due after more than one year 7 (16,706) (25,360)
Provisions for liabilities (1,433) (2,864)
Net assets 22,413 55,155
Capital and reserves
Called up share capital 1 1
Profit and loss account 22,412 55,154
Shareholders' funds 22,413 55,155
The directors are 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 directors acknowledge their 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.
Mr Ginesh Gurung
Director
Approved by the board on 16 April 2024
ANNAPURNA GROCERY LTD
Notes to the Accounts
for the year ended 31 July 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 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 6 5
3 Intangible fixed assets £
Goodwill:
Cost
At 1 August 2022 25,000
At 31 July 2023 25,000
Amortisation
At 31 July 2023 -
Net book value
At 31 July 2023 25,000
At 31 July 2022 25,000
Goodwill is under annual review.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 August 2022 25,000 62,649 22,000 109,649
Additions - 4,703 - 4,703
At 31 July 2023 25,000 67,352 22,000 114,352
Depreciation
At 1 August 2022 - 20,860 8,800 29,660
Charge for the year - 6,688 2,200 8,888
At 31 July 2023 - 27,548 11,000 38,548
Net book value
At 31 July 2023 25,000 39,804 11,000 75,804
At 31 July 2022 25,000 41,789 13,200 79,989
5 Debtors 2023 2022
£ £
Trade debtors 14,815 4,815
Other debtors 5,269 2,963
20,084 7,778
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 12,345 11,843
Trade creditors 104,477 4,634
Taxation and social security costs 28,661 31,788
Other creditors 9,913 11,327
155,396 59,592
7 Creditors: amounts falling due after one year 2023 2022
£ £
BBl Loan 16,706 25,360
8 Related party transactions
T0e directors loan to the company at the year end was £3,027 (£947in 2022). During the year company paid the dividends of £103,000 ( £74,600 in 2022) for his shareholding in the company .
9 Controlling party
The company is under the control of its director by virtue of his shareholdings in the company.
10 Other information
ANNAPURNA GROCERY LTD is a private company limited by shares and incorporated in England. Its registered office is:
73 Station Road
Hayes
Middlesex
UB3 4BG
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