11 false false true false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 1,585 1,585 159 159 1,426 xbrli:pure xbrli:shares iso4217:GBP 13652416 2023-04-01 2024-09-30 13652416 2024-09-30 13652416 2023-03-31 13652416 2022-04-01 2023-03-31 13652416 2023-03-31 13652416 2022-03-31 13652416 core:FurnitureFittings 2023-04-01 2024-09-30 13652416 core:MotorVehicles 2023-04-01 2024-09-30 13652416 core:NetGoodwill 2023-04-01 2024-09-30 13652416 bus:OrdinaryShareClass1 2023-04-01 2024-09-30 13652416 bus:Director1 2023-04-01 2024-09-30 13652416 core:NetGoodwill 2024-09-30 13652416 core:LandBuildings core:ShortLeaseholdAssets 2024-09-30 13652416 core:FurnitureFittings 2024-09-30 13652416 core:MotorVehicles 2024-09-30 13652416 core:LandBuildings core:ShortLeaseholdAssets 2023-04-01 2024-09-30 13652416 core:WithinOneYear 2024-09-30 13652416 core:ShareCapital 2024-09-30 13652416 core:ShareCapital 2023-03-31 13652416 core:RetainedEarningsAccumulatedLosses 2024-09-30 13652416 bus:SmallEntities 2023-04-01 2024-09-30 13652416 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-09-30 13652416 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-09-30 13652416 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-09-30 13652416 bus:FullAccounts 2023-04-01 2024-09-30 13652416 bus:OrdinaryShareClass1 2024-09-30 13652416 bus:OrdinaryShareClass1 2023-03-31
COMPANY REGISTRATION NUMBER: 13652416
Pak Supermarket (Oldbury) Ltd
Filleted Unaudited Financial Statements
30 September 2024
Pak Supermarket (Oldbury) Ltd
Statement of Financial Position
30 September 2024
30 Sep 24
31 Mar 23
Note
£
£
Fixed assets
Intangible assets
5
1,426
Tangible assets
6
86,595
----------
-----
88,021
Current assets
Stocks
148,276
Debtors
7
16,131
Cash at bank and in hand
21,363
10
-----------
-----
185,770
10
Creditors: amounts falling due within one year
8
334,838
-----------
-----
Net current (liabilities)/assets
( 149,068)
10
-----------
-----
Total assets less current liabilities
( 61,047)
10
----------
-----
Net (liabilities)/assets
( 61,047)
10
----------
-----
Pak Supermarket (Oldbury) Ltd
Statement of Financial Position (continued)
30 September 2024
30 Sep 24
31 Mar 23
Note
£
£
Capital and reserves
Called up share capital
9
10
10
Profit and loss account
( 61,057)
----------
-----
Shareholders (deficit)/funds
( 61,047)
10
----------
-----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 27 December 2024 , and are signed on behalf of the board by:
Mr Mohammed Khadam
Director
Company registration number: 13652416
Pak Supermarket (Oldbury) Ltd
Notes to the Financial Statements
Period ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 134 Pottery Road, Oldbury, B68 9HB, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
Straight line over 10 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Short leasehold property
-
Straight line over 10 years
Fixtures and fittings
-
15% straight line
Motor vehicles
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 11 (2023: Nil).
5. Intangible assets
Goodwill
£
Cost
Additions
Acquisitions through business combinations
1,585
--------
At 30 September 2024
1,585
--------
Amortisation
Charge for the period
159
--------
At 30 September 2024
159
--------
Carrying amount
At 30 September 2024
1,426
--------
At 31 March 2023
--------
6. Tangible assets
Short leasehold property
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2023
Additions
1,700
96,346
6,000
104,046
--------
----------
--------
-----------
At 30 September 2024
1,700
96,346
6,000
104,046
--------
----------
--------
-----------
Depreciation
At 1 April 2023
Charge for the period
170
15,656
1,625
17,451
--------
----------
--------
-----------
At 30 September 2024
170
15,656
1,625
17,451
--------
----------
--------
-----------
Carrying amount
At 30 September 2024
1,530
80,690
4,375
86,595
--------
----------
--------
-----------
At 31 March 2023
--------
----------
--------
-----------
7. Debtors
30 Sep 24
31 Mar 23
£
£
Prepayments
8,810
Other debtors
7,321
----------
-----
16,131
----------
-----
8. Creditors: amounts falling due within one year
30 Sep 24
31 Mar 23
£
£
Bank loans and overdrafts
58,570
Trade creditors
132,855
Social security and other taxes
2,173
Director loan accounts
130,535
Accruals
7,250
Other creditors
3,455
-----------
-----
334,838
-----------
-----
9. Called up share capital
Issued, called up and fully paid
30 Sep 24
31 Mar 23
No.
£
No.
£
Ordinary shares of £ 1 each
10
10
10
10
-----
-----
-----
-----
10. Directors' advances, credits and guarantees
The directors loan account was not overdrawn in the current period.