IRIS Accounts Production v24.3.2.46 03938862 Board of Directors 1.7.23 30.6.24 30.6.24 false true false false false true false ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh039388622023-06-30039388622024-06-30039388622023-07-012024-06-30039388622022-06-30039388622022-07-012023-06-30039388622023-06-3003938862ns15:EnglandWales2023-07-012024-06-3003938862ns14:PoundSterling2023-07-012024-06-3003938862ns10:Director12023-07-012024-06-3003938862ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3003938862ns10:SmallEntities2023-07-012024-06-3003938862ns10:AuditExempt-NoAccountantsReport2023-07-012024-06-3003938862ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-06-3003938862ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-3003938862ns10:FullAccounts2023-07-012024-06-300393886212023-07-012024-06-3003938862ns10:OrdinaryShareClass12023-07-012024-06-3003938862ns10:Director22023-07-012024-06-3003938862ns10:CompanySecretary12023-07-012024-06-3003938862ns10:RegisteredOffice2023-07-012024-06-3003938862ns5:CurrentFinancialInstruments2024-06-3003938862ns5:CurrentFinancialInstruments2023-06-3003938862ns5:Non-currentFinancialInstruments2024-06-3003938862ns5:Non-currentFinancialInstruments2023-06-3003938862ns5:ShareCapital2024-06-3003938862ns5:ShareCapital2023-06-3003938862ns5:RetainedEarningsAccumulatedLosses2024-06-3003938862ns5:RetainedEarningsAccumulatedLosses2023-06-3003938862ns5:NetGoodwill2023-07-012024-06-3003938862ns5:IntangibleAssetsOtherThanGoodwill2023-07-012024-06-3003938862ns5:PlantMachinery2023-07-012024-06-3003938862ns5:NetGoodwill2023-06-3003938862ns5:NetGoodwill2024-06-3003938862ns5:NetGoodwill2023-06-3003938862ns5:LandBuildings2023-06-3003938862ns5:PlantMachinery2023-06-3003938862ns5:LandBuildings2023-07-012024-06-3003938862ns5:LandBuildings2024-06-3003938862ns5:PlantMachinery2024-06-3003938862ns5:LandBuildings2023-06-3003938862ns5:PlantMachinery2023-06-3003938862ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-06-3003938862ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-06-3003938862ns10:OrdinaryShareClass12024-06-30
REGISTERED NUMBER: 03938862 (England and Wales)


Financial Statements for the Year Ended 30 June 2024

for

Michael Food Market Limited

Michael Food Market Limited (Registered number: 03938862)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Michael Food Market Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: Mr Baldev Singh Sunner
Mr Jaskamel Singh Sunner





SECRETARY: Mr Jaskamel Singh Sunner





REGISTERED OFFICE: 71 Hobs Moat Road
Solihull
West Midlands
B92 8JJ





REGISTERED NUMBER: 03938862 (England and Wales)





ACCOUNTANTS: Sterling Accounting Services Limited
Bridge House
9-13 Holbrook Lane
Coventry
CV6 4AD

Michael Food Market Limited (Registered number: 03938862)

Statement of Financial Position
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,625 5,125
Property, plant and equipment 5 20,192 23,315
23,817 28,440

CURRENT ASSETS
Inventories 38,350 29,860
Debtors 6 30,507 39,355
Cash at bank and in hand 13,665 40,243
82,522 109,458
CREDITORS
Amounts falling due within one year 7 40,037 44,836
NET CURRENT ASSETS 42,485 64,622
TOTAL ASSETS LESS CURRENT
LIABILITIES

66,302

93,062

CREDITORS
Amounts falling due after more than one
year

8

20,736

30,749
NET ASSETS 45,566 62,313

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 44,566 61,313
SHAREHOLDERS' FUNDS 45,566 62,313

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Michael Food Market Limited (Registered number: 03938862)

Statement of Financial Position - continued
30 June 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 March 2025 and were signed on its behalf by:





Mr Baldev Singh Sunner - Director


Michael Food Market Limited (Registered number: 03938862)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Michael Food Market 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance and 15% on reducing balance

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 5 ) .

Michael Food Market Limited (Registered number: 03938862)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 30,000
AMORTISATION
At 1 July 2023 24,875
Charge for year 1,500
At 30 June 2024 26,375
NET BOOK VALUE
At 30 June 2024 3,625
At 30 June 2023 5,125

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 5,153 187,256 192,409
DEPRECIATION
At 1 July 2023 - 169,094 169,094
Charge for year - 3,123 3,123
At 30 June 2024 - 172,217 172,217
NET BOOK VALUE
At 30 June 2024 5,153 15,039 20,192
At 30 June 2023 5,153 18,162 23,315

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 29,806 17,505
Other debtors 701 21,850
30,507 39,355

Michael Food Market Limited (Registered number: 03938862)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 11,906 -
Trade creditors 14,282 30,623
Taxation and social security 8,638 7,101
Other creditors 5,211 7,112
40,037 44,836

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans 20,736 30,749

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
1,000 ordinary £1 1,000 1,000