Registered number
12562310
BEST GROCERY LTD
Filleted Accounts
31 March 2025
BEST GROCERY LTD
Registered number: 12562310
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 102,889 91,710
Current assets
Stocks 797,502 1,315,000
Debtors 4 737,678 386,401
Cash at bank and in hand 54,181 103,288
1,589,361 1,804,689
Creditors: amounts falling due within one year 5 (604,487) (1,135,657)
Net current assets 984,874 669,032
Total assets less current liabilities 1,087,763 760,742
Creditors: amounts falling due after more than one year 6 (718,531) (524,723)
Net assets 369,232 236,019
Capital and reserves
Called up share capital 1 1
Profit and loss account 369,231 236,018
Shareholder's funds 369,232 236,019
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 her 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.
Nergis Ataol
Director
Approved by the board on 28 April 2025
BEST GROCERY LTD
Notes to the Accounts
for the year ended 31 March 2025
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.
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 25% reducing balance
Motor vehicles 25% reducing balance
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.
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.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2024 4,806 145,556 150,362
Additions - 34,108 34,108
At 31 March 2025 4,806 179,664 184,470
Depreciation
At 1 April 2024 1,540 57,112 58,652
Charge for the year 818 22,111 22,929
At 31 March 2025 2,358 79,223 81,581
Net book value
At 31 March 2025 2,448 100,441 102,889
At 31 March 2024 3,266 88,444 91,710
4 Debtors 2025 2024
£ £
Trade debtors 677,172 310,801
Other debtors 60,506 75,600
737,678 386,401
5 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts 9,873 11,900
Trade creditors 441,903 641,886
Taxation and social security costs 62,666 40,746
Other creditors 90,045 441,125
604,487 1,135,657
6 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 718,531 524,723
7 Other information
BEST GROCERY LTD is a private company limited by shares and incorporated in England. Its registered office is:
Unit 9 Triumph
London
N17 0EB
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