Registered number
12069117
Food Bazaar Ltd
Filleted Accounts
30 June 2024
Food Bazaar Ltd
Registered number: 12069117
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 300,000 300,000
Tangible assets 4 118,727 34,776
418,727 334,776
Current assets
Stocks 374,800 371,541
Debtors 5 5,000 8,000
Cash at bank and in hand 166,825 92,700
546,625 472,241
Creditors: amounts falling due within one year 6 (251,641) (193,522)
Net current assets 294,984 278,719
Total assets less current liabilities 713,711 613,495
Creditors: amounts falling due after more than one year 7 (544,462) (472,307)
Net assets 169,249 141,188
Capital and reserves
Called up share capital 100 100
Profit and loss account 169,149 141,088
Shareholders' funds 169,249 141,188
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.
S Kaur
Director
Approved by the board on 8 April 2025
Food Bazaar Ltd
Notes to the Accounts
for the year ended 30 June 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:
Freehold buildings over 50 years
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 6
3 Intangible fixed assets £
Goodwill:
Cost
At 1 July 2023 300,000
At 30 June 2024 300,000
Amortisation
At 30 June 2024 -
Net book value
At 30 June 2024 300,000
At 30 June 2023 300,000
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 July 2023 3,291 40,067 43,358
Additions 95,690 - 95,690
At 30 June 2024 98,981 40,067 139,048
Depreciation
At 1 July 2023 1,477 7,105 8,582
Charge for the year 5,147 6,592 11,739
At 30 June 2024 6,624 13,697 20,321
Net book value
At 30 June 2024 92,357 26,370 118,727
At 30 June 2023 1,814 32,962 34,776
5 Debtors 2024 2023
£ £
Trade debtors - 3,000
Other debtors 5,000 5,000
5,000 8,000
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 41,399 17,692
Trade creditors 153,242 120,635
Taxation and social security costs 20,418 22,370
Other creditors 36,582 32,825
251,641 193,522
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 10,000 20,000
Other creditors 534,462 452,307
544,462 472,307
8 Other information
Food Bazaar Ltd is a private company limited by shares and incorporated in England. Its registered office is:
266 Yeading Lane
Hayes
UB4 9AX
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