Caremeal Limited
Registered number: 03134806
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 32,977 30,477
Current assets
Stocks 24,590 21,790
Debtors 5 24,141 13,995
Cash at bank and in hand 47,917 73,194
96,648 108,979
Creditors: amounts falling due within one year 6 (19,526) (27,184)
Net current assets 77,122 81,795
Total assets less current liabilities 110,099 112,272
Creditors: amounts falling due after more than one year 7 (46,175) (50,000)
Net assets 63,924 62,272
Capital and reserves
Called up share capital 1,000 1,000
Revaluation reserve 8 30,388 30,388
Profit and loss account 32,536 30,884
Shareholders' funds 63,924 62,272
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.
Mr. Mohammed Abdul Hakim Siddique
Director
Approved by the board on 5 November 2024
Caremeal Limited
Notes to the Accounts
for the year ended 29 February 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.
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:
Leasehold fixtures, fittings & equipment 10% on written down value
Property improvements 5% on written down value
Furniture, fixture & equipment 20% on written down value
Motor vehicles 20% on written down value
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.
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 12 13
3 Tangible fixed assets
Leasehold fixtures, fittings & equipment Property improvements Furniture, fixture & equipment Motor vehicles Total
£ £ £ £ £
Cost
At 1 March 2023 11,138 88,894 88,120 2,200 190,352
Additions - 4,995 114 - 5,109
Disposals - - - 2,200 2,200
At 29 February 2024 11,138 93,889 88,234 4,400 197,661
Depreciation
At 1 March 2023 8,845 65,364 83,466 2,200 159,875
Charge for the year 229 1,426 954 - 2,609
On disposals - - - 2,200 2,200
At 29 February 2024 9,074 66,790 84,420 4,400 164,684
Net book value
At 29 February 2024 2,064 27,099 3,814 - 32,977
At 28 February 2023 2,293 23,530 4,654 - 30,477
5 Debtors 2024 2023
£ £
Prepayments 24,141 13,995
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 6,034 6,820
Corporation tax 521 1,591
Other taxes and social security 12,871 16,467
Other creditors 100 2,306
19,526 27,184
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 46,175 50,000
8 Revaluation reserve 2024 2023
£ £
At 1 March 2023 30,388 30,388
At 29 February 2024 30,388 30,388
9 Other information
Caremeal Limited is a private company limited by shares and incorporated in England. Its registered office is:
46 Shepherd's Bush Road
London
W6 7PJ
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