Registered number
11455426
ANNAPURNA GROCERY LTD
Filleted Accounts
31 July 2024
ANNAPURNA GROCERY LTD
Registered number: 11455426
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 25,000 25,000
Tangible assets 4 67,765 75,804
92,765 100,804
Current assets
Stocks 30,500 61,500
Debtors 5 115,646 20,084
Cash at bank and in hand 83,480 13,560
229,626 95,144
Creditors: amounts falling due within one year 6 (310,705) (155,396)
Net current liabilities (81,079) (60,252)
Total assets less current liabilities 11,686 40,552
Creditors: amounts falling due after more than one year 7 (8,071) (16,706)
Provisions for liabilities (2) (1,433)
Net assets 3,613 22,413
Capital and reserves
Called up share capital 1 1
Profit and loss account 3,612 22,412
Shareholders' funds 3,613 22,413
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 Ginesh Gurung
Director
Approved by the board on 31 March 2025
ANNAPURNA GROCERY LTD
Notes to the Accounts
for the year ended 31 July 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:
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 5
3 Intangible fixed assets £
Goodwill:
Cost
At 1 August 2023 25,000
At 31 July 2024 25,000
Amortisation
At 31 July 2024 -
Net book value
At 31 July 2024 25,000
At 31 July 2023 25,000
Goodwill is under annual review.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 August 2023 25,000 67,352 22,000 114,352
Additions - 849 - 849
At 31 July 2024 25,000 68,201 22,000 115,201
Depreciation
At 1 August 2023 - 27,548 11,000 38,548
Charge for the year - 6,688 2,200 8,888
At 31 July 2024 - 34,236 13,200 47,436
Net book value
At 31 July 2024 25,000 33,965 8,800 67,765
At 31 July 2023 25,000 39,804 11,000 75,804
5 Debtors 2024 2023
£ £
Trade debtors 14,815 14,815
Other debtors 100,831 5,269
115,646 20,084
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 9,777 12,345
Director's account 4,438 3,027
Trade creditors 262,482 104,477
Taxation and social security costs 23,621 28,661
Other creditors 10,387 6,886
310,705 155,396
7 Creditors: amounts falling due after one year 2024 2023
£ £
BBl Loan 8,071 16,706
8 Related party transactions
During the year company paid the dividends of £35,000 (£56,000 in 2023) to its director for his shareholdings in the company. Similary the company paid directors spouse the dividends of £25,045(£47,000 in 2023) for her shareholings in the company.
9 Controlling party
The company is under the control of its director by virtue of his shareholdings in the company.
10 Other information
ANNAPURNA GROCERY LTD is a private company limited by shares and incorporated in England. Its registered office is:
73 Station Road
Hayes
Middlesex
UB3 4BG
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