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REGISTERED NUMBER: 07401539 (England and Wales)



Financial Statements for the Year Ended 31 October 2022

for

Countrymart Ltd

Countrymart Ltd (Registered number: 07401539)

Contents of the Financial Statements
for the Year Ended 31 October 2022










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Countrymart Ltd

Company Information
for the Year Ended 31 October 2022







DIRECTOR: Mrs R Emmings





REGISTERED OFFICE: 704
Uxbridge Road
Hayes
Middlesex
UB4 0RX





REGISTERED NUMBER: 07401539 (England and Wales)





ACCOUNTANTS: BBK Partnership
Chartered Accountants
& Statutory Auditors
1 Beauchamp Court
10 Victors Way
Barnet
Hertfordshire
EN5 5TZ

Countrymart Ltd (Registered number: 07401539)

Statement of Financial Position
31 October 2022

31.10.22 31.10.21
Notes £    £   
FIXED ASSETS
Tangible assets 4 - 1,833

CURRENT ASSETS
Stocks 5 - 43,794
Debtors 6 - 7,388
Cash at bank - 1,526
- 52,708
CREDITORS
Amounts falling due within one year 7 (138,235 ) (184,601 )
NET CURRENT LIABILITIES (138,235 ) (131,893 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(138,235

)

(130,060

)

CREDITORS
Amounts falling due after more than one year 8 - (9,423 )
NET LIABILITIES (138,235 ) (139,483 )

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 (138,335 ) (139,583 )
SHAREHOLDERS' FUNDS (138,235 ) (139,483 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Countrymart Ltd (Registered number: 07401539)

Statement of Financial Position - continued
31 October 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 December 2023 and were signed by:





Mrs R Emmings - Director


Countrymart Ltd (Registered number: 07401539)

Notes to the Financial Statements
for the Year Ended 31 October 2022


1. STATUTORY INFORMATION

Countrymart Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Countrymart Ltd (Registered number: 07401539)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2022


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - 5 ).

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 November 2021 1,600 7,095 8,695
Disposals (1,600 ) (7,095 ) (8,695 )
At 31 October 2022 - - -
DEPRECIATION
At 1 November 2021 1,164 5,698 6,862
Eliminated on disposal (1,164 ) (5,698 ) (6,862 )
At 31 October 2022 - - -
NET BOOK VALUE
At 31 October 2022 - - -
At 31 October 2021 436 1,397 1,833

5. STOCKS
31.10.22 31.10.21
£    £   
Stocks - 43,794

50% of the Closing stock(£ 59,542.32) has been obsoleted.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.22 31.10.21
£    £   
VAT - 2,732
Prepayments and accrued income - 4,656
- 7,388

Countrymart Ltd (Registered number: 07401539)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2022


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.22 31.10.21
£    £   
Bank loans and overdrafts (see note 9) 30,520 33,332
Other loans (see note 9) 45,563 45,563
Tax - 2,575
Social security and other taxes - 1,106
Pension Payable - (770 )
Directors' current accounts 62,152 99,795
Accrued expenses - 3,000
138,235 184,601

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.22 31.10.21
£    £   
Asian African Foods Ltd - 9,423

9. LOANS

An analysis of the maturity of loans is given below:

31.10.22 31.10.21
£    £   
Amounts falling due within one year or on demand:
Bounce back Loan 30,520 33,332
Other loans 45,563 45,563
76,083 78,895

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.22 31.10.21
value: £    £   
100 Ordinary £1 100 100

Countrymart Ltd (Registered number: 07401539)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2022


11. RESERVES
Retained
earnings
£   

At 1 November 2021 (139,583 )
Profit for the year 1,248
At 31 October 2022 (138,335 )