Registered number
09996258
Harvester Grocery Ltd
Report and Accounts
29 February 2024
Harvester Grocery Ltd
Registered number: 09996258
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 399,841 427,720
Current assets
Stocks 37,580 205,000
Debtors 4 481,286 352,931
Cash at bank and in hand 14,189 46,977
533,055 604,908
Creditors: amounts falling due within one year 5 (220,110) (337,149)
Net current assets 312,945 267,759
Total assets less current liabilities 712,786 695,479
Creditors: amounts falling due after more than one year 6 (323,217) (381,362)
Provisions for liabilities (18,076) (21,239)
Net assets 371,493 292,878
Capital and reserves
Called up share capital 100 100
Profit and loss account 371,393 292,778
Shareholder's funds 371,493 292,878
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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 Hasan Cinki
Director
Approved by the board on 28 November 2024
Harvester Grocery Ltd
Notes to the Accounts
for the year ended 29 February 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Equipment, Fixtures & Fittings 20% on reducing balance
Motor vehicles 20% on reducing balance
Plant and machinery 20% on 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.
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 16 16
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 March 2023 288,321 112,720 122,143 523,184
At 29 February 2024 288,321 112,720 122,143 523,184
Depreciation
At 1 March 2023 - 40,278 55,186 95,464
Charge for the year - 14,488 13,391 27,879
At 29 February 2024 - 54,766 68,577 123,343
Net book value
At 29 February 2024 288,321 57,954 53,566 399,841
At 28 February 2023 288,321 72,442 66,957 427,720
4 Debtors 2024 2023
£ £
Trade debtors 481,286 352,931
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 167,268 309,728
Taxation and social security costs 52,842 27,421
220,110 337,149
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 19,978 35,119
Other creditors 303,239 346,243
323,217 381,362
7 Controlling party
The ultimate controller is Mr Hasan Cinki as director and sole shareholder throughout the accounting year.
8 Other information
Harvester Grocery Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 1b Isaacs Place
Port Talbot
Wales
SA12 6NP
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