Registered number
08603006
Hellenic Grocery Ltd
Filleted Accounts
31 July 2024
Hellenic Grocery Ltd
Registered number: 08603006
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 203,276 177,579
Current assets
Stocks 140,117 154,796
Debtors 4 530,935 275,622
Cash at bank and in hand 743,230 745,240
1,414,282 1,175,658
Creditors: amounts falling due within one year 5 (612,522) (449,169)
Net current assets 801,760 726,489
Total assets less current liabilities 1,005,036 904,068
Creditors: amounts falling due after more than one year 6 (147,023) (189,226)
Net assets 858,013 714,842
Capital and reserves
Called up share capital 1 1
Profit and loss account 858,012 714,841
Shareholder's funds 858,013 714,842
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.
Evangelos Lykidis
Director
Approved by the board on 9 April 2025
Hellenic 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).
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:
Plant and machinery 15% on written down value
Fixtures, fittings, tools and equipment 25% on written down value
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.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
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 10 9
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2023 61,046 278,068 339,114
Additions 37,162 48,195 85,357
At 31 July 2024 98,208 326,263 424,471
Depreciation
At 1 August 2023 37,495 124,040 161,535
Charge for the year 9,106 50,554 59,660
At 31 July 2024 46,601 174,594 221,195
Net book value
At 31 July 2024 51,607 151,669 203,276
At 31 July 2023 23,551 154,028 177,579
4 Debtors 2024 2023
£ £
Trade debtors 388,335 272,909
Other debtors 142,600 2,713
530,935 275,622
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 53,625 50,000
Obligations under finance lease and hire purchase contracts 36,601 31,878
Trade creditors 443,223 288,570
Taxation and social security costs 73,017 78,721
Other creditors 6,056 -
612,522 449,169
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 54,916 104,916
Obligations under finance lease and hire purchase contracts 92,107 84,310
147,023 189,226
7 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 21,000 14,700
8 Other information
Hellenic Grocery Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Valori House
1 Omega Park
Alton
GU34 2QE
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