Registered number
08794704
Kuzey Supermarket Ltd
Filleted Accounts
30 November 2023
Kuzey Supermarket Ltd
Registered number: 08794704
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 6,425 7,835
Current assets
Stocks 59,985 42,365
Debtors 4 16,705 45,603
Cash at bank and in hand 4,939 8,546
81,629 96,514
Creditors: amounts falling due within one year 5 (27,463) (34,166)
Net current assets 54,166 62,348
Total assets less current liabilities 60,591 70,183
Creditors: amounts falling due after more than one year 6 (23,514) (33,390)
Net assets 37,077 36,793
Capital and reserves
Called up share capital 100 100
Profit and loss account 36,977 36,693
Shareholder's funds 37,077 36,793
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.
Irfan Koca
Director
Approved by the board on 7 August 2024
Kuzey Supermarket Ltd
Notes to the Accounts
for the year ended 30 November 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.Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, as follows:
Fix, fittings & equipment 18% reducing balance
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.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A corporation tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Corporation tax liability is not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 6
3 Tangible fixed assets
Fix, fittings & equipment
£
Cost
At 1 December 2022 15,178
At 30 November 2023 15,178
Depreciation
At 1 December 2022 7,343
Charge for the year 1,410
At 30 November 2023 8,753
Net book value
At 30 November 2023 6,425
At 30 November 2022 7,835
4 Debtors 2023 2022
£ £
Prepayments & other debtors 16,705 45,603
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 2,117 -
Corporation tax 16,833 11,191
Other taxes and social security costs 5,333 6,974
Accrued expenses & other creditors 3,180 16,001
27,463 34,166
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 23,514 33,390
7 Other information
Kuzey Supermarket Ltd is a private company limited by shares and incorporated in England. Its registered office is:
51-53 Pitfield Street
London
N1 6BU
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