Registered number
08845368
EURO SUPERMARKET KENSALRISE LIMITED
Filleted Accounts
31 January 2024
EURO SUPERMARKET KENSALRISE LIMITED
Registered number: 08845368
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 21,639 28,851
Current assets
Stocks 65,000 53,022
Debtors 5 121,718 127,573
Cash at bank and in hand 7,397 10,975
194,115 191,570
Creditors: amounts falling due within one year 6 (101,873) (106,678)
Net current assets 92,242 84,892
Total assets less current liabilities 113,881 113,743
Provisions for liabilities (4,111) (5,482)
Net assets 109,770 108,261
Capital and reserves
Called up share capital 3,000 3,000
Profit and loss account 106,770 105,261
Shareholders' funds 109,770 108,261
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Zafar Iqbal
Director
Approved by the board on 28 October 2024
EURO SUPERMARKET KENSALRISE LIMITED
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 10 11
3 Intangible fixed assets £
Goodwill:
Cost
At 1 February 2023 133,617
At 31 January 2024 133,617
Amortisation
At 1 February 2023 133,617
At 31 January 2024 133,617
Net book value
At 31 January 2024 -
Goodwill has been fully written off.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2023 51,672 30,000 81,672
At 31 January 2024 51,672 30,000 81,672
Depreciation
At 1 February 2023 35,477 17,344 52,821
Charge for the year 4,048 3,164 7,212
At 31 January 2024 39,525 20,508 60,033
Net book value
At 31 January 2024 12,147 9,492 21,639
At 31 January 2023 16,195 12,656 28,851
5 Debtors 2024 2023
£ £
Other debtors 121,718 127,573
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 54,390 18,369
Trade creditors 27,915 61,873
Taxation and social security costs 3,474 10,674
Other creditors 5,934 15,051
Directors loan account 10,160 711
101,873 106,678
7 Related party transactions 2024 2023
£ £
Mr Zafar Iqbal
Director
Dividend paid of: 5,100 5,100
Amount due to the director was: 80 355
Mrs Shakeela Iqbal
Director
Dividend paid of: 4,800 4,800
Amount due to the director was: 80 355
RA Property Services London Limited
Common control
Included within other debtors is interest free and repayable on demand loan of: 110,745 116,600
8 Controlling party
The company is under the control of its director, Mr Z Iqbal by virtue of his shareholding in the issued share capital of the company.
9 Other information
EURO SUPERMARKET KENSALRISE LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
104-106 College Road
London
NW10 5HD
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