Acorah Software Products - Accounts Production 14.6.300 false true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 12773240 Mr Gurvinder Madan iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12773240 2023-07-31 12773240 2024-07-31 12773240 2023-08-01 2024-07-31 12773240 frs-core:CurrentFinancialInstruments 2024-07-31 12773240 frs-core:Non-currentFinancialInstruments 2024-07-31 12773240 frs-core:NetGoodwill 2024-07-31 12773240 frs-core:NetGoodwill 2023-08-01 2024-07-31 12773240 frs-core:NetGoodwill 2023-07-31 12773240 frs-core:MotorVehicles 2024-07-31 12773240 frs-core:MotorVehicles 2023-08-01 2024-07-31 12773240 frs-core:MotorVehicles 2023-07-31 12773240 frs-core:ShareCapital 2024-07-31 12773240 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 12773240 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 12773240 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 12773240 frs-bus:SmallEntities 2023-08-01 2024-07-31 12773240 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 12773240 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 12773240 frs-bus:Director1 2023-08-01 2024-07-31 12773240 frs-countries:EnglandWales 2023-08-01 2024-07-31 12773240 2022-07-31 12773240 2023-07-31 12773240 2022-08-01 2023-07-31 12773240 frs-core:CurrentFinancialInstruments 2023-07-31 12773240 frs-core:Non-currentFinancialInstruments 2023-07-31 12773240 frs-core:ShareCapital 2023-07-31 12773240 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31
Registered number: 12773240
Jaggi Supermarket Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12773240
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 64,800 68,800
Tangible Assets 5 10,116 12,337
74,916 81,137
CURRENT ASSETS
Stocks 6 83,625 57,650
Debtors 7 59,988 43,178
Cash at bank and in hand 71,434 68,866
215,047 169,694
Creditors: Amounts Falling Due Within One Year 8 (96,654 ) (9,468 )
NET CURRENT ASSETS (LIABILITIES) 118,393 160,226
TOTAL ASSETS LESS CURRENT LIABILITIES 193,309 241,363
Creditors: Amounts Falling Due After More Than One Year 9 (147,081 ) (214,745 )
NET ASSETS 46,228 26,618
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and Loss Account 46,227 26,617
SHAREHOLDERS' FUNDS 46,228 26,618
Page 1
Page 2
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Gurvinder Madan
Director
11/10/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Jaggi Supermarket Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12773240 . The registered office is 9 Blacklands Drive, Hayes, UB4 8EU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 18% @ reducing balance method
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
...CONTINUED
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2.6. Taxation - continued
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Intangible Assets
Goodwill
£
Cost
As at 1 August 2023 80,000
As at 31 July 2024 80,000
Amortisation
As at 1 August 2023 11,200
Provided during the period 4,000
As at 31 July 2024 15,200
Net Book Value
As at 31 July 2024 64,800
As at 1 August 2023 68,800
5. Tangible Assets
Motor Vehicles
£
Cost
As at 1 August 2023 19,993
As at 31 July 2024 19,993
Depreciation
As at 1 August 2023 7,656
Provided during the period 2,221
As at 31 July 2024 9,877
Net Book Value
As at 31 July 2024 10,116
As at 1 August 2023 12,337
6. Stocks
2024 2023
£ £
Finished goods 83,625 57,650
Page 4
Page 5
7. Debtors
2024 2023
£ £
Due within one year
Other debtors 42,139 43,178
Due after more than one year
Trade debtors 17,849 -
59,988 43,178
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 62,118 (1 )
Other creditors 2,452 473
Taxation and social security 32,084 8,996
96,654 9,468
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Trade creditors - 75,894
Other creditors 147,081 138,851
147,081 214,745
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 5