Registered number
08036074
Shri Supermarket Limited
Filleted Accounts
30 April 2024
Shri Supermarket Limited
Registered number: 08036074
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 105,341 105,341
Tangible assets 4 53,967 40,906
159,308 146,247
Current assets
Stocks 750,691 650,364
Cash at bank and in hand 6,277 1,573
756,968 651,937
Creditors: amounts falling due within one year 5 (127,027) (91,149)
Net current assets 629,941 560,788
Total assets less current liabilities 789,249 707,035
Creditors: amounts falling due after more than one year 6 (689,244) (611,058)
Net assets 100,005 95,977
Capital and reserves
Called up share capital 100 100
Profit and loss account 99,905 95,877
Shareholders' funds 100,005 95,977
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 Murugan Palanisamy
Director
Approved by the board on 21 January 2025
Shri Supermarket Limited
Notes to the Accounts
for the year ended 30 April 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:
Plant and machinery over 5 years
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 0 0
3 Intangible fixed assets £
Goodwill:
Cost
At 1 May 2023 117,046
At 30 April 2024 117,046
Amortisation
At 1 May 2023 11,705
At 30 April 2024 11,705
Net book value
At 30 April 2024 105,341
At 30 April 2023 105,341
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 May 2023 - 49,935 13,118 63,053
Additions - 13,070 13,483 26,553
At 30 April 2024 - 63,005 26,601 89,606
Depreciation
At 1 May 2023 - 12,170 9,977 22,147
Charge for the year - 10,167 3,325 13,492
At 30 April 2024 - 22,337 13,302 35,639
Net book value
At 30 April 2024 - 40,668 13,299 53,967
At 30 April 2023 - 37,765 3,141 40,906
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 51,418 39,253
Trade creditors 33,097 32,235
Taxation and social security costs 12,212 8,711
Other creditors 30,300 10,950
127,027 91,149
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 689,244 611,058
689,244 611,058
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