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REGISTERED NUMBER: 11648621 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Hoole Food Market Ltd

Hoole Food Market Ltd (Registered number: 11648621)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Hoole Food Market Ltd

Company Information
for the Year Ended 31 October 2023







Directors: L Shaw
J A Shaw





Registered office: 5 Elmwood Avenue
Hoole
Chester
CH2 3RH





Registered number: 11648621 (England and Wales)





Accountants: Ellis & Co
Chartered Accountants
114-120 Northgate Street
Chester
CH1 2HT

Hoole Food Market Ltd (Registered number: 11648621)

Statement of Financial Position
31 October 2023

31/10/23 31/10/22
Notes £    £    £    £   
Fixed assets
Intangible assets 4 1 1
Tangible assets 5 45,938 64,555
45,939 64,556

Current assets
Stocks 1,950 1,050
Debtors 6 25,277 8,616
Cash at bank and in hand 3,977 8,674
31,204 18,340
Creditors
Amounts falling due within one year 7 52,995 56,100
Net current liabilities (21,791 ) (37,760 )
Total assets less current liabilities 24,148 26,796

Creditors
Amounts falling due after more than
one year

8

(14,763

)

(22,677

)

Provisions for liabilities 9 (3,996 ) (7,258 )
Net assets/(liabilities) 5,389 (3,139 )

Capital and reserves
Called up share capital 2 2
Retained earnings 5,387 (3,141 )
Shareholders' funds 5,389 (3,139 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Hoole Food Market Ltd (Registered number: 11648621)

Statement of Financial Position - continued
31 October 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 April 2024 and were signed on its behalf by:





L Shaw - Director


Hoole Food Market Ltd (Registered number: 11648621)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. Statutory information

Hoole Food Market 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.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvements - 10% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

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


Hoole Food Market Ltd (Registered number: 11648621)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

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.

3. Employees and directors

The average number of employees during the year was 9 (2022 - 8 ) .

Hoole Food Market Ltd (Registered number: 11648621)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

4. Intangible fixed assets
Goodwill
£   
Cost
At 1 November 2022
and 31 October 2023 1
Net book value
At 31 October 2023 1
At 31 October 2022 1

5. Tangible fixed assets
Fixtures
Leasehold and Motor Computer
improvements fittings vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 November 2022 46,931 30,055 43,291 5,667 125,944
Additions - - - 1,117 1,117
At 31 October 2023 46,931 30,055 43,291 6,784 127,061
Depreciation
At 1 November 2022 17,329 19,296 19,097 5,667 61,389
Charge for year 4,693 6,011 8,658 372 19,734
At 31 October 2023 22,022 25,307 27,755 6,039 81,123
Net book value
At 31 October 2023 24,909 4,748 15,536 745 45,938
At 31 October 2022 29,602 10,759 24,194 - 64,555

6. Debtors: amounts falling due within one year
31/10/23 31/10/22
£    £   
Trade debtors 20,507 5,462
Other debtors 4,770 3,154
25,277 8,616

Hoole Food Market Ltd (Registered number: 11648621)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

7. Creditors: amounts falling due within one year
31/10/23 31/10/22
£    £   
Bank loans and overdrafts 7,011 7,011
Trade creditors 10,648 17,802
Taxation and social security 9,146 658
Other creditors 26,190 30,629
52,995 56,100

8. Creditors: amounts falling due after more than one year
31/10/23 31/10/22
£    £   
Bank loans 14,763 22,677

9. Provisions for liabilities
31/10/23 31/10/22
£    £   
Deferred tax 3,996 7,258

Deferred
tax
£   
Balance at 1 November 2022 7,258
Credit to Statement of Income and Retained Earnings during
year

(3,262

)
Balance at 31 October 2023 3,996

10. Related party disclosures

One of the directors has given a personal guarantee to the company's bankers in respect of the company's borrowings which stood at £21,774 at 31 October 2023 (31 October 2022 - £29,688).

The directors have made loans to the company. The balance on these loans at 31 October 2022 was £22,098 (31 October 2022 - £26,819). These loans are interest free and repayable on demand.

11. Operating leases

The total minimum future payments due under operating leases are £77,835 (2022 - £92,085) of which £14,250 is payable within one year (2022 - £14,250).