Registered number
06314438
MAGDALENKA POLISH DELICATESSEN LTD
Filleted Accounts
30 June 2024
MAGDALENKA POLISH DELICATESSEN LTD
Registered number: 06314438
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 10,471 14,721
Current assets
Stocks 18,286 7,714
Debtors 4 88,734 8,612
Cash at bank and in hand 150,344 138,064
257,364 154,390
Creditors: amounts falling due within one year 5 (45,432) (26,497)
Net current assets 211,932 127,893
Net assets 222,403 142,614
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 221,403 141,614
Shareholders' funds 222,403 142,614
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.
Magdalena Norris
Director
Approved by the board on 19 November 2024
MAGDALENKA POLISH DELICATESSEN LTD
Notes to the Accounts
for the year ended 30 June 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:
Office equipment, plant and machinery 25% reducing balance
Furniture and fixtures 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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Office equipment, plant and machinery Furniture and fixtures Total
£ £ £
Cost
At 1 July 2023 44,294 18,755 63,049
Additions 1,298 - 1,298
At 30 June 2024 45,592 18,755 64,347
Depreciation
At 1 July 2023 30,195 18,133 48,328
Charge for the year 4,926 622 5,548
At 30 June 2024 35,121 18,755 53,876
Net book value
At 30 June 2024 10,471 - 10,471
At 30 June 2023 14,099 622 14,721
4 Debtors 2024 2023
£ £
Other debtors 5,960 5,960
Prepayments and accrued income 2,774 2,652
Other debtors 80,000 -
88,734 8,612
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 4,994 1,460
Corporation tax 27,864 12,128
VAT 583 352
PAYE & NI 1,598 1,770
Pension fund creditor 469 590
Other creditors 9,074 9,447
Accruals and deferred income 850 750
45,432 26,497
6 Controlling party
Ms Magdalena Norris holds 100% of the issued share capital of the company and she is therefore considered to be controlling party.
7 Other information
MAGDALENKA POLISH DELICATESSEN LTD is a private company limited by shares and incorporated in England. Its registered office is:
4 Rectory Row
Bracknell
RG12 7BN
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