KK FOOD STORE LTD
Registered number: 10204146
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 54,363 60,696
Tangible assets 4 22,997 27,056
77,360 87,752
Current assets
Stocks 22,587 8,974
Cash at bank and in hand 142,156 14,135
164,743 23,109
Creditors: amounts falling due within one year 5 (65,211) (78,112)
Net current assets/(liabilities) 99,532 (55,003)
Net assets 31,892 32,749
Capital and reserves
Called up share capital 100 100
Profit and loss account 31,792 32,649
Shareholders' funds 31,892 32,749
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 S Koneswaran
Director
Approved by the board on 20 February 2025
KK FOOD STORE LTD
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
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.
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.
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 4 4
3 Intangible fixed assets £
Goodwill:
Cost
At 1 June 2023 95,000
At 31 May 2024 95,000
Amortisation
At 1 June 2023 34,304
Provided during the year 6,333
At 31 May 2024 40,637
Net book value
At 31 May 2024 54,363
At 31 May 2023 60,696
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 June 2023 - 2,380 26,110 28,490
Additions - - - -
At 31 May 2024 - 2,380 26,110 28,490
Depreciation
At 1 June 2023 - 1,434 - 1,434
Charge for the year - 142 3,917 4,059
At 31 May 2024 - 1,576 3,917 5,493
Net book value
At 31 May 2024 - 804 22,193 22,997
At 31 May 2023 - 946 26,110 27,056
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 48,859 64,739
Trade creditors 6,528 5,741
Amounts owed to group undertakings and undertakings in which the company has a participating interest 2,826 2,644
Taxation and social security costs 6,998 4,988
65,211 78,112
6 Other information
KK FOOD STORE LTD is a private company limited by shares and incorporated in England. Its registered office is:
71 Mitchley Avenue,
South Croydon,
CR2 9HN
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