REGISTERED NUMBER: |
ABRIDGED UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2024 |
FOR |
CIBO GROCERIES LIMITED |
REGISTERED NUMBER: |
ABRIDGED UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2024 |
FOR |
CIBO GROCERIES LIMITED |
CIBO GROCERIES LIMITED (REGISTERED NUMBER: 01174307) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2024 |
Page |
Company Information | 1 |
Abridged Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
CIBO GROCERIES LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 5 APRIL 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
www.michaelfiliou.com |
Salisbury House |
81 High Street |
Potters Bar |
Hertfordshire |
EN6 5AS |
CIBO GROCERIES LIMITED (REGISTERED NUMBER: 01174307) |
ABRIDGED STATEMENT OF FINANCIAL POSITION |
5 APRIL 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 5 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 6 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Fair value reserve | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges her responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
CIBO GROCERIES LIMITED (REGISTERED NUMBER: 01174307) |
ABRIDGED STATEMENT OF FINANCIAL POSITION - continued |
5 APRIL 2024 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
CIBO GROCERIES LIMITED (REGISTERED NUMBER: 01174307) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 5 APRIL 2024 |
1. | STATUTORY INFORMATION |
CIBO Groceries Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 01174307 and registered office address is c/o Michael Filiou Ltd, Salisbury House, 81 High Street, Hertfordshire, EN6 5AS. |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and Companies Act 2006. |
The financial statements have been prepared under the historical cost basis except for the modification to a fair value basis for certain fixed assets as specified in the accounting policies below. |
The financial statements are presented in Sterling (£) which is the functional currency of the company. |
Turnover |
Turnover represents rental income from operating leases over the term of the lease. |
Investment property |
The freehold property is held for long-term investment. Investment properties are initially recognised at cost which includes purchase cost and any directly attributable expenditure. Investment properties whose fair value can be measured reliably are carried at fair value. The surplus or deficit is recognised in the income statement accumulated in the non-distributable reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the income statement for the period. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
CIBO GROCERIES LIMITED (REGISTERED NUMBER: 01174307) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 5 APRIL 2024 |
3. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
5. | INVESTMENT PROPERTY |
Fair value at 5 April 2024 is represented by: |
£ |
Valuation in 2017 | 531,983 |
Cost | 18,017 |
550,000 |
6. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax | 101,077 | 101,077 |
Deferred |
tax |
£ |
Balance at 6 April 2023 |
Deferred tax on revaluation |
reserve |
Balance at 5 April 2024 |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 1,000 | 1,000 |
CIBO GROCERIES LIMITED (REGISTERED NUMBER: 01174307) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 5 APRIL 2024 |
8. | RESERVES |
Fair |
value |
reserve |
£ |
At 6 April 2023 |
and 5 April 2024 |
9. | ULTIMATE CONTROLLING PARTY |
The controlling party is Mrs Marina Panayiotou. |