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
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
Real Food Markets Limited
Statement of financial position
as at 31 December 2023
Intangible assets
1,203
1,802
Tangible assets
6,548
2,515
Cash at bank and in hand
181,656
234,482
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
Net assets/(liabilities)
2,389
(46,544)
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
Real Food Markets Limited
Notes to the Accounts
for the year ended 31 December 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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.
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.
Real Food Markets Limited
Notes to the Accounts
for the year ended 31 December 2023
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.
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.
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.
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.
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Intangible fixed assets
Goodwill
Other
Total
At 1 January 2023
21,558
3,000
24,558
At 31 December 2023
21,558
3,000
24,558
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
At 31 December 2023
-
1,203
1,203
At 31 December 2022
-
1,802
1,802
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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
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
At 31 December 2023
2,210
4,338
6,548
At 31 December 2022
659
1,856
2,515
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
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
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Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
10,000
10,000
Trade creditors
244,029
308,455
Taxes and social security
46,525
70,592
Other creditors
8,060
5,485
Deferred income
9,540
16,835
9
Creditors: amounts falling due after more than one year
2023
2022
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).