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REGISTERED NUMBER: 08197522 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 August 2024

for

Mexgrocer Limited

Mexgrocer Limited (Registered number: 08197522)






Contents of the Financial Statements
for the year ended 31 August 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Mexgrocer Limited

Company Information
for the year ended 31 August 2024







DIRECTORS: Mrs K Torres De La Rocha
E Gomez Resendiz





REGISTERED OFFICE: 56A London Road
Hemel Hempstead
Hertfordshire
HP3 9SB





REGISTERED NUMBER: 08197522 (England and Wales)





ACCOUNTANTS: G & A Partners LLP
Chartered Accountants
120 Cockfosters Road
Barnet
EN4 0DZ

Mexgrocer Limited (Registered number: 08197522)

Statement of Financial Position
31 August 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 4,055 4,771
Tangible assets 5 193,753 137,204
197,808 141,975

CURRENT ASSETS
Stocks 506,559 314,077
Debtors 6 1,302,303 993,687
Cash at bank 60,981 92,282
1,869,843 1,400,046
CREDITORS
Amounts falling due within one year 7 955,602 747,986
NET CURRENT ASSETS 914,241 652,060
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,112,049

794,035

CREDITORS
Amounts falling due after more than one
year

8

(175,000

)

(55,000

)

PROVISIONS FOR LIABILITIES (42,858 ) (28,710 )
NET ASSETS 894,191 710,325

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 894,091 710,225
SHAREHOLDERS' FUNDS 894,191 710,325

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

Mexgrocer Limited (Registered number: 08197522)

Statement of Financial Position - continued
31 August 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 22 May 2025 and were signed on its behalf by:





Mrs K Torres De La Rocha - Director


Mexgrocer Limited (Registered number: 08197522)

Notes to the Financial Statements
for the year ended 31 August 2024

1. STATUTORY INFORMATION

Mexgrocer 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Preparation of consolidated financial statements
The financial statements contain information about Mexgrocer Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover 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 2013, is being amortised evenly over its estimated useful life of ten 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.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on reducing balance
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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

Stock is valued at the lower of cost and net realisable value. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.


Mexgrocer Limited (Registered number: 08197522)

Notes to the Financial Statements - continued
for the year ended 31 August 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2023 - 26 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
Goodwill licences Totals
£    £    £   
COST
At 1 September 2023
and 31 August 2024 10,000 7,165 17,165
AMORTISATION
At 1 September 2023 10,000 2,394 12,394
Amortisation for year - 716 716
At 31 August 2024 10,000 3,110 13,110
NET BOOK VALUE
At 31 August 2024 - 4,055 4,055
At 31 August 2023 - 4,771 4,771

Mexgrocer Limited (Registered number: 08197522)

Notes to the Financial Statements - continued
for the year ended 31 August 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 September 2023 2,787 69,680 139,655 106,841 318,963
Additions 6,531 8,631 109,287 - 124,449
At 31 August 2024 9,318 78,311 248,942 106,841 443,412
DEPRECIATION
At 1 September 2023 1,231 42,510 91,680 46,338 181,759
Charge for year 932 9,452 39,387 18,129 67,900
At 31 August 2024 2,163 51,962 131,067 64,467 249,659
NET BOOK VALUE
At 31 August 2024 7,155 26,349 117,875 42,374 193,753
At 31 August 2023 1,556 27,170 47,975 60,503 137,204

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 403,404 340,190
Amounts owed by group undertakings 807,799 584,280
Other debtors 91,100 69,217
1,302,303 993,687

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 30,000 30,000
Trade creditors 501,018 321,535
Taxation and social security 61,974 39,969
Other creditors 362,610 356,482
955,602 747,986

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 25,000 55,000
Other creditors 150,000 -
175,000 55,000

Mexgrocer Limited (Registered number: 08197522)

Notes to the Financial Statements - continued
for the year ended 31 August 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 55,000 85,000

The bank loan is secured by a fixed and floating charge over the company's assets.