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Registered Number: 13854846


 

 

 

LOW COST SUPERMARKET LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 February 2023

End date: 31 January 2024
 
 
Notes
 
2024
£
  2023
£
Current assets      
Stocks 3 3,250    2,000 
Cash at bank and in hand 1,410    441 
4,660    2,441 
Creditors: amount falling due within one year 4 (7,691)   (2,058)
Net current assets (3,031)   383 
 
Total assets less current liabilities (3,031)   383 
Net assets (3,031)   383 
 

Capital and reserves
     
Called up share capital 5 100    100 
Profit and loss account (3,131)   283 
Shareholders' funds (3,031)   383 
 


For the year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 15 October 2024 and were signed by:


-------------------------------
Abdul KARIM
Director
1
General Information
LOW COST SUPERMARKET LTD is a private company, limited by shares, registered in , registration number 13854846, registration address 37 ROMAN ROAD, BETHNAL GREEN LONDON, London, London, E2 0HU.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).
3.

Stocks

2024
£
  2023
£
Stocks 3,250    2,000 
3,250    2,000 

4.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 1,638   
Corporation Tax 66    66 
PAYE & Social Security 180    66 
Accrued Expenses 4,308    393 
Directors' Current Accounts 1,499    1,533 
7,691    2,058 

5.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

2