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Registered Number: 13916233
England and Wales

 

 

 

NEW SUPERMART EXPRESS LTD


Abridged Accounts
 


Period of accounts

Start date: 01 March 2023

End date: 29 February 2024
Report to the directors on the preparation of the unaudited statutory accounts of NEW SUPERMART EXPRESS LTD for the year ended 29 February 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of NEW SUPERMART EXPRESS LTD for the year ended 29 February 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given to us.

As a practising member firm of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://www.ifa.org.uk/about-us/acting-in-the-public-interest/memberregulations.

This report is made solely to the Board of Directors of NEW SUPERMART EXPRESS LTD, as a body, in accordance with the terms of our engagement letter dated 19 November 2024 . Our work has been undertaken solely to prepare for your approval the accounts of NEW SUPERMART EXPRESS LTD and state those matters that we have agreed to state to the Board of Directors of NEW SUPERMART EXPRESS LTD, as a body, in this report.To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than NEW SUPERMART EXPRESS LTD and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that NEW SUPERMART EXPRESS LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of NEW SUPERMART EXPRESS LTD.You consider that NEW SUPERMART EXPRESS LTD is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit of the accounts of NEW SUPERMART EXPRESS LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements 29 February 2024.



....................................................
MENTOR ACCOUNTING SERVICES LTD
Courier House
18 White Hart Road
SL1 2SF
19 November 2024
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 9,312    10,000 
Tangible fixed assets 4 178,241    34,440 
187,553    44,440 
Current assets      
Stocks 29,300    18,000 
Cash at bank and in hand 30,256    18,420 
59,556    36,420 
Creditors: amount falling due within one year (25,494)   (2,341)
Net current assets 34,062    34,079 
 
Total assets less current liabilities 221,615    78,519 
Creditors: amount falling due after more than one year (189,000)   (64,000)
Provisions for liabilities (82)  
Net assets 32,533    14,519 
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account 32,532    14,518 
Shareholders' funds 32,533    14,519 
 


For the year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge 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 members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 19 November 2024 and were signed on its behalf by:


-------------------------------
Muhammad Amar Saeed
Director
2
General Information
NEW SUPERMART EXPRESS LTD is a private company, limited by shares, registered in England and Wales, registration number 13916233, registration address 87 Watney Street, London, E1 2QE.

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.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
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.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 4 (2023 : 4).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 March 2023 10,000    10,000 
Additions  
Disposals  
At 29 February 2024 10,000    10,000 
Amortisation
At 01 March 2023  
Charge for year 688    688 
On disposals  
At 29 February 2024 688    688 
Net book values
At 29 February 2024 9,312    9,312 
At 28 February 2023 10,000    10,000 


4.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Fixtures and Fittings   Total
  £   £   £   £
At 01 March 2023   27,000    15,000    42,000 
Additions 150,000        150,000 
Disposals      
At 29 February 2024 150,000    27,000    15,000    192,000 
Depreciation
At 01 March 2023   4,860    2,700    7,560 
Charge for year   3,985    2,214    6,199 
On disposals      
At 29 February 2024   8,845    4,914    13,759 
Net book values
Closing balance as at 29 February 2024 150,000    18,155    10,086    178,241 
Opening balance as at 01 March 2023   22,140    12,300    34,440 


3