Registered number
08667669
MURAT FOOD CENTRE LTD
Filleted Accounts
31 August 2024
MURAT FOOD CENTRE LTD
Registered number: 08667669
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 238,004 290,247
Current assets
Stocks 61,320 55,900
Debtors 4 343,880 315,451
Cash at bank and in hand 26,562 38,397
431,762 409,748
Creditors: amounts falling due within one year 5 (37,714) (63,357)
Net current assets 394,048 346,391
Total assets less current liabilities 632,052 636,638
Creditors: amounts falling due after more than one year 6 (24,279) (5,183)
Net assets 607,773 631,455
Capital and reserves
Called up share capital 100 100
Profit and loss account 607,673 631,355
Shareholders' funds 607,773 631,455
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 members have 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.
Nejdet KAYA
Director
Approved by the board on 25 April 2025
MURAT FOOD CENTRE LTD
Notes to the Accounts
for the year ended 31 August 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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
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, as follows:
Motor van 18% pa( reducing balance)
Fixtures, fittings and equipment 18% pa( 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.
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.
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 21 21
3 Tangible fixed assets
Fix,fittings& equipment Motor van Total
£ £ £
Cost
At 1 September 2023 464,938 35,955 500,893
At 31 August 2024 464,938 35,955 500,893
Depreciation
At 1 September 2023 194,516 16,130 210,646
Charge for the year 48,675 3,568 52,243
At 31 August 2024 243,191 19,698 262,889
Net book value
At 31 August 2024 221,747 16,257 238,004
At 31 August 2023 270,422 19,825 290,247
4 Debtors 2024 2023
£ £
Prepayments & other debtors 343,880 315,451
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 3,875 192
Taxation and social security costs 33,839 63,165
37,714 63,357
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 20,736 -
Obligations under finance lease and hire purchase contracts 3,543 5,183
24,279 5,183
7 Other information
MURAT FOOD CENTRE LTD is a private company limited by shares and incorporated in England. Its registered office is:
30-40 Bath Street
Nottingham
NG1 1DF
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