Low Energy Supermarket Ltd 07870636 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is the sale of low energy electrical products Digita Accounts Production Advanced 6.30.9574.0 true true 07870636 2023-04-01 2024-03-31 07870636 2024-03-31 07870636 bus:OrdinaryShareClass1 2024-03-31 07870636 core:CurrentFinancialInstruments 2024-03-31 07870636 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 07870636 core:FurnitureFittingsToolsEquipment 2024-03-31 07870636 core:MotorVehicles 2024-03-31 07870636 bus:SmallEntities 2023-04-01 2024-03-31 07870636 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 07870636 bus:FilletedAccounts 2023-04-01 2024-03-31 07870636 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07870636 bus:RegisteredOffice 2023-04-01 2024-03-31 07870636 bus:Director1 2023-04-01 2024-03-31 07870636 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 07870636 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07870636 core:FurnitureFittings 2023-04-01 2024-03-31 07870636 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 07870636 core:MotorVehicles 2023-04-01 2024-03-31 07870636 countries:AllCountries 2023-04-01 2024-03-31 07870636 2023-03-31 07870636 core:FurnitureFittingsToolsEquipment 2023-03-31 07870636 core:MotorVehicles 2023-03-31 07870636 2022-04-01 2023-03-31 07870636 2023-03-31 07870636 bus:OrdinaryShareClass1 2023-03-31 07870636 core:CurrentFinancialInstruments 2023-03-31 07870636 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 07870636 core:FurnitureFittingsToolsEquipment 2023-03-31 07870636 core:MotorVehicles 2023-03-31 07870636 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07870636

Low Energy Supermarket Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Low Energy Supermarket Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 6

 

Low Energy Supermarket Ltd

Company Information

Director

Mr Mark Stevens

Registered office

1 Kingsley Drive
Appleton
Warrington
WA4 5AE

Accountants

Davidson Stant Limited
The Glen
Knutsford Old Road
Stockton Heath
Warrington
Cheshire
WA4 2LD

 

Low Energy Supermarket Ltd

(Registration number: 07870636)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

92,264

87,523

Current assets

 

Stocks

4

290,000

235,000

Debtors

5

123,915

56,239

Cash at bank and in hand

 

462,255

539,614

 

876,170

830,853

Creditors: Amounts falling due within one year

6

(242,750)

(249,780)

Net current assets

 

633,420

581,073

Net assets

 

725,684

668,596

Capital and reserves

 

Called up share capital

7

101

100

Retained earnings

725,583

668,496

Shareholders' funds

 

725,684

668,596

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 12 September 2024
 

.........................................

Mr Mark Stevens

Director

 

Low Energy Supermarket Ltd

Notes to the Financial Statements for the Year Ended 31 March 2024

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture , fittings & equipment

25% reducing balance

Motor vehicles

25% reducing balance

 

Low Energy Supermarket Ltd

Notes to the Financial Statements for the Year Ended 31 March 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 14 (2023 - 11).

 

Low Energy Supermarket Ltd

Notes to the Financial Statements for the Year Ended 31 March 2024

3

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

19,155

110,820

129,975

Additions

1,791

39,450

41,241

Disposals

-

(49,940)

(49,940)

At 31 March 2024

20,946

100,330

121,276

Depreciation

At 1 April 2023

15,346

27,106

42,452

Charge for the year

1,400

14,645

16,045

Eliminated on disposal

-

(29,485)

(29,485)

At 31 March 2024

16,746

12,266

29,012

Carrying amount

At 31 March 2024

4,200

88,064

92,264

At 31 March 2023

3,809

83,714

87,523

4

Stocks

2024
£

2023
£

Finished goods and goods for resale

290,000

235,000

5

Debtors

Current

2024
£

2023
£

Prepayments

1,499

1,964

Other debtors

122,416

54,275

 

123,915

56,239

 

Low Energy Supermarket Ltd

Notes to the Financial Statements for the Year Ended 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

73,363

71,996

Taxation and social security

146,669

155,167

Accruals and deferred income

22,075

21,930

Other creditors

643

687

242,750

249,780

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

       

8

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £1,766.66 (2023 - £1,663.30) per each Ordinary Shares

178,426

166,330

 

 

9

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

12,595

12,535

Contributions paid to money purchase schemes

280,000

-

292,595

12,535