Acorah Software Products - Accounts Production 15.0.400 false true false 1 December 2022 30 November 2023 30 November 2023 SC750808 Mr Sukhwinder Singh Mr Gurdeep Singh iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC750808 2022-11-30 SC750808 2023-11-30 SC750808 2022-12-01 2023-11-30 SC750808 frs-core:CurrentFinancialInstruments 2023-11-30 SC750808 frs-core:FurnitureFittings 2023-11-30 SC750808 frs-core:FurnitureFittings 2022-12-01 2023-11-30 SC750808 frs-core:FurnitureFittings 2022-11-30 SC750808 frs-core:NetGoodwill 2023-11-30 SC750808 frs-core:NetGoodwill 2022-12-01 2023-11-30 SC750808 frs-core:NetGoodwill 2022-11-30 SC750808 frs-core:ShareCapital 2023-11-30 SC750808 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 SC750808 frs-bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 SC750808 frs-bus:FilletedAccounts 2022-12-01 2023-11-30 SC750808 frs-bus:SmallEntities 2022-12-01 2023-11-30 SC750808 frs-bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 SC750808 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 SC750808 frs-bus:Director1 2022-12-01 2023-11-30 SC750808 frs-bus:Director2 2022-12-01 2023-11-30 SC750808 frs-countries:Scotland 2022-12-01 2023-11-30
Registered number: SC750808
SM GROCERS LTD
Unaudited Financial Statements
For The Year Ended 30 November 2023
FNS Accounting
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: SC750808
2023
Notes £ £
FIXED ASSETS
Intangible Assets 4 15,000
Tangible Assets 5 12,000
27,000
CURRENT ASSETS
Stocks 6 51,243
Debtors 7 167
Cash at bank and in hand 11,598
63,008
Creditors: Amounts Falling Due Within One Year 8 (96,995 )
NET CURRENT ASSETS (LIABILITIES) (33,987 )
TOTAL ASSETS LESS CURRENT LIABILITIES (6,987 )
NET LIABILITIES (6,987 )
CAPITAL AND RESERVES
Called up share capital 9 100
Profit and Loss Account (7,087 )
SHAREHOLDERS' FUNDS (6,987)
Page 1
Page 2
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Sukhwinder Singh
Director
15/04/2024
The notes on pages 3 to 4 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
SM GROCERS LTD is a private company, limited by shares, incorporated in Scotland, registered number SC750808 . The registered office is 547 Coatbridge Road, Baillieston,, Glasgow, G69 7PQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 20% reduce balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5
5
4. Intangible Assets
Goodwill
£
Cost
As at 1 December 2022 -
Additions 15,000
As at 30 November 2023 15,000
Net Book Value
As at 30 November 2023 15,000
As at 1 December 2022 -
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5. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 December 2022 -
Additions 15,000
As at 30 November 2023 15,000
Depreciation
As at 1 December 2022 -
Provided during the period 3,000
As at 30 November 2023 3,000
Net Book Value
As at 30 November 2023 12,000
As at 1 December 2022 -
6. Stocks
2023
£
Stock 51,243
7. Debtors
2023
£
Due within one year
Other debtors 167
8. Creditors: Amounts Falling Due Within One Year
2023
£
Trade creditors 4,707
Other creditors 89,853
Taxation and social security 2,435
96,995
9. Share Capital
2023
£
Allotted, Called up and fully paid 100
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