Registered number
09486928
Village Grocer Limited
Filleted Accounts
31 March 2024
Village Grocer Limited
Registered number: 09486928
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 65,596 69,686
Tangible assets 4 17,522 21,368
Investments 5 1,000 1,000
84,118 92,054
Current assets
Stocks 69,375 78,830
Debtors 6 1,400 1,400
Cash at bank and in hand 575,872 393,049
646,647 473,279
Creditors: amounts falling due within one year 7 (83,322) (73,719)
563,325 399,560
Net assets 647,443 491,614
Capital and reserves
Called up share capital 100 100
Profit and loss account 647,343 491,514
Shareholder's funds 647,443 491,614
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Mr Huseyin Karadag
Director
Approved by the board on 31 July 2024
Village Grocer Limited
Notes to the Accounts
for the year ended 31 March 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.Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
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 tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, as follows:
Fix, fittings & equipment 18% Reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A corporation tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Corporation tax liability is not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 15 15
3 Intangible fixed assets £
Purchased Goodwill:
Cost
At 1 April 2023 102,242
At 31 March 2024 102,242
Amortisation
At 1 April 2023 32,556
Provided during the year 4,090
At 31 March 2024 36,646
Net book value
At 31 March 2024 65,596
At 31 March 2023 69,686
Purchased Goodwill is being written off at 4% per annum.
4 Tangible fixed assets
Fix, fittings & equipment
£
Cost
At 1 April 2023 61,105
At 31 March 2024 61,105
Depreciation
At 1 April 2023 39,737
Charge for the year 3,846
At 31 March 2024 43,583
Net book value
At 31 March 2024 17,522
At 31 March 2023 21,368
5 Investments
Other
investments
£
Cost
At 1 April 2023 1,000
At 31 March 2024 1,000
6 Debtors 2024 2023
£ £
Prepayments & Deposit paid 1,400 1,400
7 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 2,559 17,276
Corporation tax 54,766 25,296
Other taxes and social security costs 25,997 18,692
Accrued expenses & other creditors - 12,455
83,322 73,719
8 Other information
Village Grocer Limited is a private company limited by shares and incorporated in England. Its registered office is:
178 Bellenden Road
London
SE15 4BW
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