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Registered number: 5659508
Ramzan Food Store Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
Glenn J Wrighton & Co
85 Deardengate
Haslingden
Rossendale
Lancashire
BB4 5SN
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 5659508
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 53,698 61,698
Tangible Assets 5 6,617 8,822
60,315 70,520
CURRENT ASSETS
Stocks 6 42,890 45,340
Debtors 7 20,735 2,163
Cash at bank and in hand 26,519 30,067
90,144 77,570
Creditors: Amounts Falling Due Within One Year 8 (199,182 ) (168,021 )
NET CURRENT ASSETS (LIABILITIES) (109,038 ) (90,451 )
TOTAL ASSETS LESS CURRENT LIABILITIES (48,723 ) (19,931 )
Creditors: Amounts Falling Due After More Than One Year 9 (6,030 ) (10,136 )
NET LIABILITIES (54,753 ) (30,067 )
CAPITAL AND RESERVES
Called up share capital 10 4 4
Profit and Loss Account (54,757 ) (30,071 )
SHAREHOLDERS' FUNDS (54,753) (30,067)
Page 1
Page 2
For the year ending 31 January 2024 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.
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 Shahbaz Ahmed
Director
10/09/2024
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
Ramzan Food Store Limited is a private company, limited by shares, incorporated in England & Wales, registered number 5659508 . The registered office is 23 Victoria Road, Padiham, Lancashire, BB12 8RF.
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.
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. Amortisation is calculated at 10% per annum on a straight line basis.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
There is no amortisation applied to the Podst Office licence.
2.5. 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 25% RB
Fixtures & Fittings 25% RB
Computer Equipment 25% RB
2.6. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Intangible Assets
Goodwill Other Total
£ £ £
Cost
As at 1 February 2023 80,000 29,698 109,698
As at 31 January 2024 80,000 29,698 109,698
Amortisation
As at 1 February 2023 48,000 - 48,000
Provided during the period 8,000 - 8,000
As at 31 January 2024 56,000 - 56,000
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 January 2024 24,000 29,698 53,698
As at 1 February 2023 32,000 29,698 61,698
5. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 February 2023 2,750 33,780 20,113 56,643
As at 31 January 2024 2,750 33,780 20,113 56,643
Depreciation
As at 1 February 2023 688 29,615 17,518 47,821
Provided during the period 516 1,041 648 2,205
As at 31 January 2024 1,204 30,656 18,166 50,026
Net Book Value
As at 31 January 2024 1,546 3,124 1,947 6,617
As at 1 February 2023 2,062 4,165 2,595 8,822
6. Stocks
2024 2023
£ £
Stock 42,890 45,340
7. Debtors
2024 2023
£ £
Due within one year
Sundry debtors 20,735 2,163
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 3,950 8,185
Other taxes and social security 2,501 2,513
Accruals and deferred income 840 805
Directors' loan accounts 191,891 156,518
199,182 168,021
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Loans repayable after more than one year 6,030 10,136
Page 4
Page 5
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 4 4
Page 5