Registered number
08786350
Landau's Grocery Limited
Filleted Accounts
30 November 2023
Landau's Grocery Limited
Registered number: 08786350
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 52,238 62,554
Current assets
Stocks 136,060 130,560
Debtors 4 16,917 34,271
Cash at bank and in hand 11,521 17,582
164,498 182,413
Creditors: amounts falling due within one year 5 (182,115) (165,156)
Net current (liabilities)/assets (17,617) 17,257
Total assets less current liabilities 34,621 79,811
Creditors: amounts falling due after more than one year 6 (27,643) (41,692)
Net assets 6,978 38,119
Capital and reserves
Called up share capital 1 1
Profit and loss account 6,977 38,118
Shareholders' funds 6,978 38,119
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.
Benjamin Landau
Director
Approved by the board on 28 November 2024
Landau's Grocery Limited
Notes to the Accounts
for the year ended 30 November 2023
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 over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Fixtures, fittings, tools and equipment 20% reducing balance
Motor Vehicles 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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 12 12
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 December 2022 133,299 23,950 157,249
Additions 3,642 - 3,642
At 30 November 2023 136,941 23,950 160,891
Depreciation
At 1 December 2022 85,115 9,580 94,695
Charge for the year 10,365 3,593 13,958
At 30 November 2023 95,480 13,173 108,653
Net book value
At 30 November 2023 41,461 10,777 52,238
At 30 November 2022 48,184 14,370 62,554
4 Debtors 2023 2022
£ £
Trade debtors 2,206 6,560
Other debtors 14,711 27,711
16,917 34,271
5 Creditors: amounts falling due within one year 2023 2022
£ £
Creditors less than 1yr - Bank loans 3,971 -
Trade creditors 140,363 138,421
Taxation and social security costs 3,616 1,180
Other creditors 28,251 19,116
Pensions payable 255 196
Wages control account 5,659 6,243
182,115 165,156
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 27,643 41,692
7 Other information
Landau's Grocery Limited is a private company limited by shares and incorporated in England. Its registered office is:
158 Cromwell Road
Salford
M6 6DE
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