Registered number
10546583
HOPE MINIMARKET LTD
Filleted Accounts
31 January 2024
HOPE MINIMARKET LTD
Registered number: 10546583
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 2 89,094 89,094
Tangible assets 3 23,060 25,465
112,154 114,559
Current assets
Stocks 4 25,000 25,000
Debtors 113,844 116,694
Cash at bank and in hand 5,615 15,469
144,459 157,163
Creditors: amounts falling due within one year 6 (33,177) (80,006)
Net current assets 111,282 77,157
Total assets less current liabilities 223,436 191,716
Creditors: amounts falling due after more than one year 7 (50,036) (34,933)
Net assets 173,400 156,783
Capital and reserves
Called up share capital 100 100
Profit and loss account 173,300 156,683
Shareholder's funds 173,400 156,783
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.
Mehmet Umut
Director
Approved by the board on 11 September 2024
HOPE MINIMARKET LTD
Notes to the Accounts
for the year ended 31 January 2024
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 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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 20% Reducing balance method
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 Intangible fixed assets £
Goodwill:
Cost
At 1 February 2023 89,094
At 31 January 2024 89,094
Amortisation
At 31 January 2024 -
Net book value
At 31 January 2024 89,094
At 31 January 2023 89,094
Goodwill is not being written off.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2023 28,800 18,000 46,800
Additions 2,232 - 2,232
At 31 January 2024 31,032 18,000 49,032
Depreciation
At 1 February 2023 14,135 7,200 21,335
Charge for the year 3,557 1,080 4,637
At 31 January 2024 17,692 8,280 25,972
Net book value
At 31 January 2024 13,340 9,720 23,060
At 31 January 2023 14,665 10,800 25,465
5 Debtors 2024 2023
£ £
Trade debtors 1,552 2,871
Amounts owed by group undertakings and undertakings in which the company has a participating interest 110,000 110,000
Other debtors 2,292 3,823
113,844 116,694
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 4,290 15,190
Taxation and social security costs 18,944 37,755
Other creditors 9,943 27,061
33,177 80,006
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 24,862 34,933
Other creditors 25,174 -
50,036 34,933
8 Related party transactions
Mehmet Umut
Director
As at the balance sheet date, the company owed its director £25,174 which has been included under other creditor
due after one year.
9 Controlling party
The company is under the control of its own director.
10 Other information
HOPE MINIMARKET LTD is a private company limited by shares and incorporated in England. Its registered office is:
193 Park Lane
Tottenham
London
N17 0HJ
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