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REGISTERED NUMBER: 07167147 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

NIZA SUPERSTORES (EASTBOURNE) LIMITED

NIZA SUPERSTORES (EASTBOURNE) LIMITED (REGISTERED NUMBER: 07167147)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Strategic Report 2

Report of the Director 4

Report of the Independent Auditors 6

Income Statement 10

Other Comprehensive Income 11

Balance Sheet 12

Statement of Changes in Equity 13

Cash Flow Statement 14

Notes to the Cash Flow Statement 15

Notes to the Financial Statements 17


NIZA SUPERSTORES (EASTBOURNE) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: V Ragunathan





REGISTERED OFFICE: 15 The Gallop
Sutton
Surrey
SM2 5RU





REGISTERED NUMBER: 07167147 (England and Wales)





AUDITORS: Param & Company Ltd
Chartered Certified Accountants
Statutory Auditors
1st Floor
44 - 50 The Broadway
Southall
Middlesex
UB1 1QB

NIZA SUPERSTORES (EASTBOURNE) LIMITED (REGISTERED NUMBER: 07167147)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 MAY 2024

The director presents his strategic report for the year ended 31 May 2024.

REVIEW OF BUSINESS
The company made an operating profit of £2,296,739 (2023- £1,541,751).

During the year, the operational focus was to maximise fuel and retail margins, allowing for local competitive pricing. The directors are satisfied that the necessary safeguards remain in place to minimize the effect of changes in oil prices.

Management has further streamlined the supply chain and company procedures in order to effectively manage costs throughout the year.


Key performance indicators


2024 2023
Revenue £24,935,649 £25,246,475
Gross profit £3,415,389 £2,536,257
Gross profit margin 14% 10%
Profit before tax £2,119,249 £1,362,315


* During the year, management has undertaken the following initiatives to improve business performance and more effectively utilize its asset base and capital:

* Establishing an effective operational management team by providing clear direction, reporting lines, responsibilities and accountabilities.

*The working shift pattern of all retail staff has been changed to be consistent across all sites and to increase efficiency.

*Clear targets for each business area identified and communicated and formal staff appraisal process identified, documented and put into place. This has resulted in significantly enhanced staff engagement leading to local and business wide efficiency, margin and cost improvement initiatives.

*Company acquired two sites in May 2024 for the sum of £3,705,936.

Going concern

The Directors are confident that the company has adequate resources to continue operational existence for the foreseeable future. In consideration of going concern, the Directors continually review the Company's future cashflow forecasts and profit projections, on both a base case and sensitized basis, considering the principal risks and uncertainties that may arise. These forecasts have been prepared based on market data, experience trading within the sector and anticipated future trading. There is nothing to indicate from these forecasts, that the Company would not be able to continue successfully as a Going Concern in the future.


NIZA SUPERSTORES (EASTBOURNE) LIMITED (REGISTERED NUMBER: 07167147)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 MAY 2024

PRINCIPAL RISKS AND UNCERTAINTIES
The Directors, having reviewed the accounts, budgets and future strategy; and having made appropriate enquiries, consider that the Company has adequate resources to continue to trade for the foreseeable future and have therefore continued to adopt the going-concern basis in preparing the financial statements.

The company intends to generate further revenue by:

* Implementing strategies to improve the Return on Capital Employed by more effective property asset utilization. Discussions are currently ongoing with a number of service providers to operate on specific sites.


* Procurement efficiencies to deliver an improvement to the retail gross margins of an average of 2% have been targeted for the next 3 years.

* Looking to achieve synergies and economy of scale by targeting the acquisition of further sites.

* Identifying and investing in appropriate IT Infrastructure to enhance business efficiency and business intelligence.

* CapEx investment in forecourt improvements and branding.

* Securing new fuel and shop supply agreements over the next 12 months.

ON BEHALF OF THE BOARD:





V Ragunathan - Director


27 February 2025

NIZA SUPERSTORES (EASTBOURNE) LIMITED (REGISTERED NUMBER: 07167147)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31 MAY 2024

The director presents his report with the financial statements of the company for the year ended 31 May 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of convenience stores and petroleum retails.

DIVIDENDS
No interim dividend was paid during the year. The director recommends a final dividend of 605 per share.

The total distribution of dividends for the year ended 31 May 2024 will be £ 60,548 .

DIRECTOR
V Ragunathan held office during the whole of the period from 1 June 2023 to the date of this report.

POLITICAL DONATIONS AND EXPENDITURE
No political donations.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

NIZA SUPERSTORES (EASTBOURNE) LIMITED (REGISTERED NUMBER: 07167147)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31 MAY 2024


AUDITORS
The auditors, Param & Company Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





V Ragunathan - Director


27 February 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
NIZA SUPERSTORES (EASTBOURNE) LIMITED

Opinion
We have audited the financial statements of Niza Superstores (Eastbourne) Limited (the 'company') for the year ended 31 May 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 May 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
NIZA SUPERSTORES (EASTBOURNE) LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page four, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
NIZA SUPERSTORES (EASTBOURNE) LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

* the engagement partner ensured that the engagement team collectively had the appropriate competence,capabilities and skills to identify or recognize non-compliance with applicable laws and regulations;

* we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of service station.

* we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation;

* we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and


* identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

* making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

* considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

* performed analytical procedures to identify any unusual or unexpected relationships;

*tested journal entries to identify unusual transactions;

*assessed whether judgements and assumptions made in determining the accounting estimates set out in note 2 were indicative of potential bias; and

*investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

*agreeing financial statement disclosures to underlying supporting documentation;

*reading the minutes of meetings of those charged with governance;

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
NIZA SUPERSTORES (EASTBOURNE) LIMITED


*enquiring of management as to actual and potential litigation and claims; and

*reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




S Paramaguru (FCCA) (Senior Statutory Auditor)
for and on behalf of Param & Company Ltd
Chartered Certified Accountants
Statutory Auditors
1st Floor
44 - 50 The Broadway
Southall
Middlesex
UB1 1QB

27 February 2025

NIZA SUPERSTORES (EASTBOURNE) LIMITED (REGISTERED NUMBER: 07167147)

INCOME STATEMENT
FOR THE YEAR ENDED 31 MAY 2024

2024 2023
Notes £    £   

TURNOVER 24,935,649 25,246,475

Cost of sales 21,520,260 22,710,218
GROSS PROFIT 3,415,389 2,536,257

Administrative expenses 1,141,367 1,030,201
2,274,022 1,506,056

Other operating income 22,717 35,695
OPERATING PROFIT 4 2,296,739 1,541,751


Interest payable and similar expenses 5 177,490 179,436
PROFIT BEFORE TAXATION 2,119,249 1,362,315

Tax on profit 6 582,748 336,196
PROFIT FOR THE FINANCIAL YEAR 1,536,501 1,026,119

NIZA SUPERSTORES (EASTBOURNE) LIMITED (REGISTERED NUMBER: 07167147)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MAY 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 1,536,501 1,026,119


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,536,501

1,026,119

NIZA SUPERSTORES (EASTBOURNE) LIMITED (REGISTERED NUMBER: 07167147)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 6,721,546 3,092,567

CURRENT ASSETS
Stocks 9 315,174 303,161
Debtors 10 4,251,242 2,840,655
Cash at bank and in hand 205,337 51,617
4,771,753 3,195,433
CREDITORS
Amounts falling due within one year 11 3,205,801 2,440,518
NET CURRENT ASSETS 1,565,952 754,915
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,287,498

3,847,482

CREDITORS
Amounts falling due after more than one year 12 (4,888,474 ) (1,955,015 )

PROVISIONS FOR LIABILITIES 16 (74,236 ) (43,632 )
NET ASSETS 3,324,788 1,848,835

CAPITAL AND RESERVES
Called up share capital 17 100 100
Retained earnings 18 3,324,688 1,848,735
SHAREHOLDERS' FUNDS 3,324,788 1,848,835

The financial statements were approved by the director and authorised for issue on 27 February 2025 and were signed by:





V Ragunathan - Director


NIZA SUPERSTORES (EASTBOURNE) LIMITED (REGISTERED NUMBER: 07167147)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 June 2022 100 981,821 981,921

Changes in equity
Dividends - (159,205 ) (159,205 )
Total comprehensive income - 1,026,119 1,026,119
Balance at 31 May 2023 100 1,848,735 1,848,835

Changes in equity
Dividends - (60,548 ) (60,548 )
Total comprehensive income - 1,536,501 1,536,501
Balance at 31 May 2024 100 3,324,688 3,324,788

NIZA SUPERSTORES (EASTBOURNE) LIMITED (REGISTERED NUMBER: 07167147)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MAY 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 2,590,105 1,664,909
Interest paid (177,021 ) (176,495 )
Interest element of finance lease payments
paid

(469

)

(2,941

)
Tax paid (238,432 ) (54,649 )
Net cash from operating activities 2,174,183 1,430,824

Cash flows from investing activities
Purchase of tangible fixed assets (3,727,418 ) -
Net cash from investing activities (3,727,418 ) -

Cash flows from financing activities
New loans in year 3,300,000 -
Loan repayments in year (160,981 ) (176,136 )
New finance leases (Repayments) in year (22,338 ) (76,118 )
Associated companies Received (Payments) (1,237,827 ) (998,217 )
Equity dividends paid (60,548 ) (159,205 )
Net cash from financing activities 1,818,306 (1,409,676 )

Increase in cash and cash equivalents 265,071 21,148
Cash and cash equivalents at beginning of
year

2

(147,838

)

(168,986

)

Cash and cash equivalents at end of year 2 117,233 (147,838 )

NIZA SUPERSTORES (EASTBOURNE) LIMITED (REGISTERED NUMBER: 07167147)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MAY 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024 2023
£    £   
Profit before taxation 2,119,249 1,362,315
Depreciation charges 98,441 108,031
Finance costs 177,490 179,436
2,395,180 1,649,782
(Increase)/decrease in stocks (12,013 ) 22,649
Increase in trade and other debtors (153,445 ) (137,399 )
Increase in trade and other creditors 360,383 129,877
Cash generated from operations 2,590,105 1,664,909

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 May 2024
31.5.24 1.6.23
£    £   
Cash and cash equivalents 205,337 51,617
Bank overdrafts (88,104 ) (199,455 )
117,233 (147,838 )
Year ended 31 May 2023
31.5.23 1.6.22
£    £   
Cash and cash equivalents 51,617 10,980
Bank overdrafts (199,455 ) (179,966 )
(147,838 ) (168,986 )


NIZA SUPERSTORES (EASTBOURNE) LIMITED (REGISTERED NUMBER: 07167147)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MAY 2024

3. ANALYSIS OF CHANGES IN NET DEBT

At 1.6.23 Cash flow At 31.5.24
£    £    £   
Net cash
Cash at bank and in hand 51,617 153,720 205,337
Bank overdrafts (199,455 ) 111,351 (88,104 )
(147,838 ) 265,071 117,233
Debt
Finance leases (22,338 ) 22,338 -
Debts falling due within 1 year (126,303 ) (205,561 ) (331,864 )
Debts falling due after 1 year (1,955,015 ) (2,933,459 ) (4,888,474 )
(2,103,656 ) (3,116,682 ) (5,220,338 )
Total (2,251,494 ) (2,851,611 ) (5,103,105 )

NIZA SUPERSTORES (EASTBOURNE) LIMITED (REGISTERED NUMBER: 07167147)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Niza Superstores (Eastbourne) Limited 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

The Directors are confident that the company has adequate resources to continue operational existence for the foreseeable future. In consideration of going concern, the Directors continually review the Company's future cashflow forecasts and profit projections, on both a base case and sensitized basis, considering the principal risks and uncertainties that may arise. These forecasts have been prepared based on market data, experience trading within the sector and anticipated future trading. There is nothing to indicate from these forecasts, that the Company would not be able to continue successfully as a Going Concern in the future.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the Company's accounting policies, which are described above, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key sources of estimation uncertainty that have significant effect on the amounts recognised in the financial statements are described below.

1. Estimate the useful lives of tangible and intangible assets for depreciation and amortisation purposes.

2. Determine whether the leases entered into by the company are operating or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease-by-lease basis.

3. Determine whether there are indicators of impairment of the company's tangible and intangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset.

NIZA SUPERSTORES (EASTBOURNE) LIMITED (REGISTERED NUMBER: 07167147)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued

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

Sale of goods
Revenue is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, it is probable that economic benefits will flow to the Company, the associated costs can be measured reliably, there is no continuing managerial involvement with the goods, and the amount of revenue can be measured reliably. Due to the nature of the products sold, the Company does not experience material levels of returns.

The treatment of fuel duty in the UK is determined by local laws and regulations as to when the duty becomes legally payable and who carried the risks and obligations to the tax authorities.

The Company recognises revenue gross of fuel duty as the obligation to pay the duty is at purchase from the supplier, therefore the Company's role in the transaction is that of principal. The fuel duty is set and payable at this point and the risk of recovering this element of the cost through the sale of fuel to the end customer lies with the Company.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Short leasehold - Equal inst over the period of lease
Long leasehold - Equal inst over the period of lease
Fixtures and fittings - 15% on reducing balance

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

NIZA SUPERSTORES (EASTBOURNE) LIMITED (REGISTERED NUMBER: 07167147)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 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
2024 2023
£    £   
Wages and salaries 460,030 311,738
Social security costs 32,564 21,440
Other pension costs 2,878 5,865
495,472 339,043

The average number of employees during the year was as follows:
2024 2023

28 22

2024 2023
£    £   
Director's remuneration - -

4. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Other operating leases 14,150 17,909
Depreciation - owned assets 98,439 108,031
Auditors' remuneration 12,000 10,000

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank interest 177,021 176,495
Hire purchase 469 2,941
177,490 179,436

NIZA SUPERSTORES (EASTBOURNE) LIMITED (REGISTERED NUMBER: 07167147)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 552,144 292,564

Deferred tax 30,604 43,632
Tax on profit 582,748 336,196

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 2,119,249 1,362,315
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 20.003%)

529,812

272,504

Effects of:
Depreciation in excess of capital allowances 22,332 20,060
Deffered Tax 30,604 43,632
Total tax charge 582,748 336,196

7. DIVIDENDS
2024 2023
£    £   
ordinary shares of 1 each
Final 60,548 159,205

NIZA SUPERSTORES (EASTBOURNE) LIMITED (REGISTERED NUMBER: 07167147)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

8. TANGIBLE FIXED ASSETS
Fixtures
Freehold Short Long and
property leasehold leasehold fittings Totals
£    £    £    £    £   
COST
At 1 June 2023 1,443,253 4,000 1,440,773 781,866 3,669,892
Additions 3,724,641 - - 2,777 3,727,418
At 31 May 2024 5,167,894 4,000 1,440,773 784,643 7,397,310
DEPRECIATION
At 1 June 2023 84,875 4,000 90,838 397,612 577,325
Charge for year 27,167 - 13,218 58,054 98,439
At 31 May 2024 112,042 4,000 104,056 455,666 675,764
NET BOOK VALUE
At 31 May 2024 5,055,852 - 1,336,717 328,977 6,721,546
At 31 May 2023 1,358,378 - 1,349,935 384,254 3,092,567

Included within the net book value of £ 0 (2023 : £227,647) is relating to assets held under finance lease and hire purchase agreements.These are all within the fixtures and fittings category.The depreciation charged to the financial statements in the year in respect of such assets amounted to £ 0 (2023 : £40,173)

9. STOCKS
2024 2023
£    £   
Finished goods 315,174 303,161

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 190,782 185,208
Amounts owed by associates 3,786,922 2,529,780
Other Debtors - 85,119
VAT 203,749 -
Prepayments and accrued income 69,789 40,548
4,251,242 2,840,655

NIZA SUPERSTORES (EASTBOURNE) LIMITED (REGISTERED NUMBER: 07167147)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 13) 353,497 233,670
Other loans (see note 13) 66,471 92,088
Finance leases (see note 14) - 22,338
Trade creditors 1,452,801 1,395,378
Amounts owed to associates 38,716 19,400
Tax 845,449 531,737
Social security and other taxes 559 10,219
Pension 587 -
VAT - 91,922
Other creditors 415,001 -
Net Wages 4,080 15,981
Accrued expenses 28,640 27,785
3,205,801 2,440,518

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 13) 4,834,607 1,859,625
Other loans (see note 13) 53,867 95,390
4,888,474 1,955,015

13. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 88,104 199,455
Bank loans 265,393 34,215
Other loans 66,471 92,088
419,968 325,758

Amounts falling due between one and two years:
Other loans - 1-2 years 53,867 4,910

Amounts falling due between two and five years:
Bank loans - 2-5 years 4,834,607 1,859,625
Other loans - 2-5 years - 90,480
4,834,607 1,950,105

NIZA SUPERSTORES (EASTBOURNE) LIMITED (REGISTERED NUMBER: 07167147)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

14. LEASING AGREEMENTS

Minimum lease payments under finance leases fall due as follows:

Finance leases
2024 2023
£    £   
Net obligations repayable:
Within one year - 22,338

15. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 88,104 199,455
Bank loans 5,100,000 1,893,840
5,188,104 2,093,295

The bank loan is for a term of 5 years from draw down and at an interest of 2.45% over Base Rate.
The loan is secured by a debenture covering fixed and floating charge over all assets of the company.

16. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 74,236 43,632

Deferred
tax
£   
Balance at 1 June 2023 43,632
Provided during year 30,604
Balance at 31 May 2024 74,236

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 ordinary 1 100 100

NIZA SUPERSTORES (EASTBOURNE) LIMITED (REGISTERED NUMBER: 07167147)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

18. RESERVES
Retained
earnings
£   

At 1 June 2023 1,848,735
Profit for the year 1,536,501
Dividends (60,548 )
At 31 May 2024 3,324,688

19. RELATED PARTY DISCLOSURES

During the year, total dividends of £60,548 (2023 - £159,205) were paid to the director .

NIZA SUPERSTORES (EASTBOURNE) LIMITED (REGISTERED NUMBER: 07167147)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

19. RELATED PARTY DISCLOSURES - continued

The following companies are related parties by virtue of common director.

Entities with control, joint control or significant influence over the entity
2024 2023
£ £
Niza Enterprises Ltd
A company in which Mr Ragunathan is Director and shareholders.
Amount due to related party is interest free & unsecured Loans.

Amount due to / (from) related party at the balance sheet date (1,934,240 ) (1,205,627 )
====== ======

Niza Southwater Ltd
A company in which Mr Ragunathan is Director and shareholders.
Amount due to related party is interest free & unsecured Loans.

Amount due to / (from) related party at the balance sheet date (574,259 ) (615,710 )
====== ======

Threeways Petrol Station Ltd
A company in which Mr Ragunathan is Director and shareholders.
Amount due to related party is interest free & unsecured Loans.

Amount due to / (from) related party at the balance sheet date 38,716 19,400
====== ======

Niza Forecourt Ltd
A company in which Mr Ragunathan is Director and shareholders.
Amount due to related party is interest free & unsecured Loans.

Amount due to / (from) related party at the balance sheet date (672,796 ) (602,084 )
====== ======

Niza Construction Ltd
A company in which Mr Ragunathan is Director and shareholders.
Amount due to related party is interest free & unsecured Loans.

Amount due to / (from) related party at the balance sheet date (185,574 ) (106,359 )
====== ======

20. ULTIMATE CONTROLLING PARTY

The controlling party is Mr V Ragunathan

NIZA SUPERSTORES (EASTBOURNE) LIMITED (REGISTERED NUMBER: 07167147)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

21. PRINCIPAL PLACE OF BUSINESS

The address of the company's principal place of businesses are:

a) Sutton corner service station, Eastbourne road, Seaford, BN25 4QS.
b) Culverstone service station, Wrotham road, Culverstone, Meopham, DA13 0RF.
c) Houndmills service station, Aldermaston road south, Basingstoke, Hampshire, RG21 6BN.
d) Sparkbrook service station, 123 - 163 Highgate road, Sparkbrook, Birmingham, B12 0BG.
e) Packhorse service station, Watling, Street, Kensworth, Dunstable, LU6 3QU.