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REGISTERED NUMBER: 08006790 (England and Wales)















Baba Supermarket Ltd.

Financial Statements for the Year Ended 30 April 2024






Baba Supermarket Ltd. (Registered number: 08006790)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Baba Supermarket Ltd.

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Mr Mubarak Ali
Mrs Mussarat Begum
Mr Khuram Shazad Ali





SECRETARY:





REGISTERED OFFICE: Nisa Supermarket
Bensham Road
Gateshead
Tyne and Wear
NE8 4TE





REGISTERED NUMBER: 08006790 (England and Wales)





ACCOUNTANTS: Flannagans - Gateshead
7 Bankside
The Watermark
Gateshead
NE11 9SY

Baba Supermarket Ltd. (Registered number: 08006790)

Abridged Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 4 5
4 5

CURRENT ASSETS
Stocks 173,500 117,900
Debtors 8,772 282
Cash in hand 3,139 1,831
185,411 120,013
CREDITORS
Amounts falling due within one year 162,321 82,726
NET CURRENT ASSETS 23,090 37,287
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,094

37,292

CREDITORS
Amounts falling due after more than one year 22,740 36,521
NET ASSETS 354 771

CAPITAL AND RESERVES
Called up share capital 6 6
Retained earnings 348 765
SHAREHOLDERS' FUNDS 354 771

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Baba Supermarket Ltd. (Registered number: 08006790)

Abridged Balance Sheet - continued
30 April 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 January 2025 and were signed on its behalf by:





Mr Mubarak Ali - Director


Baba Supermarket Ltd. (Registered number: 08006790)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Baba Supermarket Ltd. is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 15% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Baba Supermarket Ltd. (Registered number: 08006790)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2023
and 30 April 2024 230,000
AMORTISATION
At 1 May 2023
and 30 April 2024 230,000
NET BOOK VALUE

At 30 April 2024 -
At 30 April 2023 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2023 27,982
Disposals (5,643 )
At 30 April 2024 22,339
DEPRECIATION
At 1 May 2023 27,977
Eliminated on disposal (5,642 )
At 30 April 2024 22,335
NET BOOK VALUE
At 30 April 2024 4
At 30 April 2023 5

6. RELATED PARTY DISCLOSURES

During the year, total dividends of £86,500 were paid to the directors .

Baba Supermarket Ltd. (Registered number: 08006790)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

7. ULTIMATE CONTROLLING PARTY

Mr Mubarak Ali, who is the director and 33.34% shareholder, is ultimate controlling party.

8. DIRECTORS LOAN ACCOUNT

Directors loan account is overdrawn by £8,480 which is a interest free loan payable on demand