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Company Registration No. 10677137 (England and Wales)
Real Food Markets Limited Unaudited accounts for the year ended 31 December 2023
Real Food Markets Limited Unaudited accounts Contents
Page
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Real Food Markets Limited Company Information for the year ended 31 December 2023
Directors
Mr P D Lowery Mrs R L E Lowery
Company Number
10677137 (England and Wales)
Registered Office
Impact Hub King's Cross 34b York Way London N1 9AB United Kingdom
Accountants
R Down Limited 85 Great Portland Street London W1W 7LT
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Real Food Markets Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
1,203 
1,802 
Tangible assets
6,548 
2,515 
Investments
48,833 
48,833 
56,584 
53,150 
Current assets
Debtors
166,925 
140,930 
Cash at bank and in hand
181,656 
234,482 
348,581 
375,412 
Creditors: amounts falling due within one year
(387,365)
(450,872)
Net current liabilities
(38,784)
(75,460)
Total assets less current liabilities
17,800 
(22,310)
Creditors: amounts falling due after more than one year
(14,167)
(24,167)
Provisions for liabilities
Deferred tax
(1,244)
(67)
Net assets/(liabilities)
2,389 
(46,544)
Capital and reserves
Called up share capital
133 
133 
Profit and loss account
2,256 
(46,677)
Shareholders' funds
2,389 
(46,544)
For the year ending 31 December 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 September 2024 and were signed on its behalf by
Mr P D Lowery Director Company Registration No. 10677137
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Real Food Markets Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Real Food Markets Limited is a private company, limited by shares, registered in England and Wales, registration number 10677137. The registered office is Impact Hub King's Cross, 34b York Way, London, N1 9AB, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% straight line
Computer equipment
33% straight line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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Real Food Markets Limited Notes to the Accounts for the year ended 31 December 2023
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Going concern
The directors have reviewed the position of the company for the proceeding 12 months and consider it to be a going concern as at the date of signing.
4
Intangible fixed assets
Goodwill 
Other 
Total 
£ 
£ 
£ 
Cost
At 1 January 2023
21,558 
3,000 
24,558 
At 31 December 2023
21,558 
3,000 
24,558 
Amortisation
At 1 January 2023
21,558 
1,198 
22,756 
Charge for the year
- 
599 
599 
At 31 December 2023
21,558 
1,797 
23,355 
Net book value
At 31 December 2023
- 
1,203 
1,203 
At 31 December 2022
- 
1,802 
1,802 
5
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2023
14,803 
6,537 
21,340 
Additions
2,145 
6,220 
8,365 
Disposals
- 
(2,373)
(2,373)
At 31 December 2023
16,948 
10,384 
27,332 
Depreciation
At 1 January 2023
14,144 
4,681 
18,825 
Charge for the year
594 
2,378 
2,972 
On disposals
- 
(1,013)
(1,013)
At 31 December 2023
14,738 
6,046 
20,784 
Net book value
At 31 December 2023
2,210 
4,338 
6,548 
At 31 December 2022
659 
1,856 
2,515 
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Real Food Markets Limited Notes to the Accounts for the year ended 31 December 2023
6
Investments
Subsidiary undertakings 
£ 
Valuation at 1 January 2023
48,833 
Valuation at 31 December 2023
48,833 
7
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
61,653 
59,700 
Accrued income and prepayments
9,318 
3,284 
Other debtors
95,954 
77,946 
166,925 
140,930 
8
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
10,000 
10,000 
VAT
49,296 
38,630 
Trade creditors
244,029 
308,455 
Taxes and social security
46,525 
70,592 
Other creditors
8,060 
5,485 
Accruals
19,915 
875 
Deferred income
9,540 
16,835 
387,365 
450,872 
9
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
14,167 
24,167 
10
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Advance
47,838 
13,709 
1,260 
60,287 
Advance
5,000 
5,449 
6,260 
4,189 
52,838 
19,158 
7,520 
64,476 
11
Average number of employees
During the year the average number of employees was 9 (2022: 9).
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