Registered number
09944698
Hainault Supermarket Ltd
Filleted Accounts
31 January 2024
Hainault Supermarket Ltd
Registered number: 09944698
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 25,557 31,947
Current assets
Stocks 73,000 65,000
Debtors 4 4,478 3,808
Natwest 10,753 5,341
Cash at bank and in hand 1,647 28,561
89,878 102,710
Creditors: amounts falling due within one year 5 (112,685) (115,482)
Net current liabilities (22,807) (12,772)
Net assets 2,750 19,175
Capital and reserves
Called up share capital 1 1
Profit and loss account 2,749 19,174
Shareholder's funds 2,750 19,175
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.
Mr Ibrahim Dagdelen
Director
Approved by the board on 8 March 2024
Hainault Supermarket Ltd
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
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.
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:
Freehold buildings over 50 years
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2023 35,395 21,490 56,885
At 31 January 2024 35,395 21,490 56,885
Depreciation
At 1 February 2023 15,257 9,681 24,938
Charge for the year 4,028 2,362 6,390
At 31 January 2024 19,285 12,043 31,328
Net book value
At 31 January 2024 16,110 9,447 25,557
At 31 January 2023 20,138 11,809 31,947
4 Debtors 2024 2023
£ £
Other debtors 4,478 3,808
5 Creditors: amounts falling due within one year 2024 2023
£ £
Ana Ursa 1,259 -
Bounce Back Loan 42,108 42,942
A Ciocanu - 1,425
Nest 2,882 1,887
Ibrahim Dagdelen 242 -
Trade creditors 27,431 35,479
Taxation and social security costs 15,181 7,002
Other creditors 23,582 26,747
112,685 115,482
6 Other information
Hainault Supermarket Ltd is a private company limited by shares and incorporated in England. Its registered office is:
565 Green Lanes
Haringey
London
N8 0RL
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