Registered number: 11030884 | ||||||||
FOR THE YEAR ENDED 31 MARCH 2024 | ||||||||
Prepared By: | ||||||||
Lever Bros & Co | ||||||||
Chartered Accountants | ||||||||
First Floor, 690 Great West Road | ||||||||
Osterley Village | ||||||||
Isleworth | ||||||||
TW7 4PU |
Fair Price Supermarket Ltd | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31 MARCH 2024 | ||||||||
DIRECTORS | ||||||||
REGISTERED OFFICE | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 11030884 | ||||||||
ACCOUNTANTS | ||||||||
Lever Bros & Co | ||||||||
Chartered Accountants | ||||||||
First Floor, 690 Great West Road | ||||||||
Osterley Village | ||||||||
Isleworth | ||||||||
TW7 4PU |
Fair Price Supermarket Ltd | ||||||||
ACCOUNTS | ||||||||
FOR THEYEARENDED31 MARCH 2024 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
Fair Price Supermarket Ltd | ||||||||
BALANCE SHEET AT | ||||||||||
2024 | 2023 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 2 | |||||||||
CURRENT ASSETS | ||||||||||
Stock | 3 | |||||||||
Debtors | 4 | |||||||||
Cash at bank and in hand | ||||||||||
63,480 | 50,547 | |||||||||
CREDITORS: Amounts falling due within one year | 5 | |||||||||
NET CURRENT LIABILITIES | ( | (81,166) | ||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ( | ( | ||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 7 | |||||||||
Profit and loss account | (56,353) | (69,994) | ||||||||
SHAREHOLDERS' FUNDS | ( | ( | ||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
Director | ||||||||||
Fair Price Supermarket Ltd | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31 MARCH 2024 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Going Concern | ||||||||
The company had net liabilities at the year end of £56,253. However, included in creditors was £127,218 owed to the other creditors. With the continued support of the other creditors, the director believes the company to be a going concern. |
1c. Depreciation | ||||||||
Short Leasehold Properties | straight line 20% | |||||||
Plant and Machinery | reducing balance 25% |
1d. Stocks | ||||||||
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. | ||||||||
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs. |
1e. Pension Costs | ||||||||
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year. |
1f. Turnover | ||||||||
Turnover is derived from sales non--specialised stores with food, beverages or tobacco services supplied by the company, net of value added tax and trade discounts and is recognised when services are rendered. |
Fair Price Supermarket Ltd | ||||||||
1g. Statutory Information | ||||||||
Fair Price Supermarket Ltd is a private company, limited by shares, incorporated in England and Wales. The company's registered number is 11030884 and registered office address is 37 Buckingham Avenue, Slough, United Kingdom, SL1 4QA. |
1h. Financial Instruments | ||||||||
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments. |
2. TANGIBLE FIXED ASSETS | ||||||
Short Leasehold | Plant and | |||||
Properties | Machinery | Total | ||||
£ | £ | £ | ||||
Cost | ||||||
At 1 April 2023 | 42,244 | 3,403 | 45,647 | |||
Additions | - | 499 | 499 | |||
At 31 March 2024 | 42,244 | 3,902 | 46,146 | |||
Depreciation | ||||||
At 1 April 2023 | 32,090 | 2,285 | 34,375 | |||
For the year | 3,840 | 446 | 4,286 | |||
At 31 March 2024 | 35,930 | 2,731 | 38,661 | |||
Net Book Amounts | ||||||
At 31 March 2024 | 6,314 | 7,485 | ||||
At 31 March 2023 | 10,154 | 11,272 | ||||
3. STOCK | 2024 | 2023 | ||||
£ | £ | |||||
Stock comprises: | ||||||
Stock | ||||||
4. DEBTORS | 2024 | 2023 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | 5,013 | 2,014 | ||||||
Other debtors | 15,466 | 85 | ||||||
20,479 | 2,099 | |||||||
Fair Price Supermarket Ltd | ||||||||
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
Taxation and social security | 13,969 | 10,190 | ||||||
Salaries and wages control | 4,736 | 2,032 | ||||||
Directors current account | - | 4,187 | ||||||
Bank loans and overdrafts | 9,924 | 9,259 | ||||||
Bank Loan | 22,442 | 25,974 | ||||||
Trade creditors | 26,983 | 36,983 | ||||||
Other creditors | 45,252 | 38,742 | ||||||
Accruals | 3,912 | 4,346 | ||||||
127,218 | 131,713 | |||||||
6. EMPLOYEES | ||||||
2024 | 2023 | |||||
No. | No. | |||||
Average number of employees | 5 | |||||
7. SHARE CAPITAL | 2024 | 2023 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
100 | 100 | |||||||
100 | 100 | |||||||