M S Grocers Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: SC432862 (Scotland)

Unaudited Financial Statements for the Year Ended 30 September 2024

for

M S GROCERS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S Sarwar

N Sarwar

REGISTERED OFFICE:

1st Floor, 5 Abercrombie Court

Prospect Road, Arnhall Business Park

Westhill

Aberdeenshire

AB32 6FE

REGISTERED NUMBER:

SC432862 (Scotland)

ACCOUNTANTS:

Fyfe Moir & Associates

1st Floor, 5 Abercrombie Crt

Prospect Road,

Westhill

Aberdeenshire

Grampian

AB32 6FE

FIXED ASSETS

Intangible assets

4

100,120

112,635

Tangible assets

5

3,193

-

Investments

6

12,500

115,813

125,135

CURRENT ASSETS

Stocks

25,000

29,500

Debtors

7

169,460

Cash at bank and in hand

6,817

14,108

201,277

213,068

CREDITORS

Amounts falling due within one year

8

181,500

186,180

NET CURRENT ASSETS

19,777

26,888

TOTAL ASSETS LESS CURRENT
LIABILITIES

135,590

152,023

CAPITAL AND RESERVES

Called up share capital

10

100

Retained earnings

11

135,490

151,923

SHAREHOLDERS' FUNDS

135,590

152,023

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

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 15 September 2025 and were signed on its behalf by:

S Sarwar - Director

N Sarwar - Director

1.	STATUTORY INFORMATION

M S Grocers Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

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 2012, is being amortised evenly over its estimated useful life of twenty 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on cost

Computer equipment

-

33% on cost

Stocks

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

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2023

and 30 September 2024

250,300

AMORTISATION

At 1 October 2023

137,665

Amortisation for year

12,515

At 30 September 2024

150,180

NET BOOK VALUE

At 30 September 2024

100,120

At 30 September 2023

112,635

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

COST

At 1 October 2023

9,396

583

9,979

Additions

3,991

-

3,991

At 30 September 2024

13,387

583

13,970

DEPRECIATION

At 1 October 2023

9,396

583

9,979

Charge for year

798

-

798

At 30 September 2024

10,194

583

10,777

NET BOOK VALUE

At 30 September 2024

3,193

-

3,193

At 30 September 2023

-

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 October 2023

and 30 September 2024

12,500

NET BOOK VALUE

At 30 September 2024

12,500

At 30 September 2023

12,500

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.24

30.9.23

£

Other debtors

500

Debtor - N E S Fast Foods Ltd

168,960

169,460

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.24

30.9.23

£

Bank loans and overdrafts

102,596

110,671

Trade creditors

13,187

19,996

Tax

7,422

8,644

Social security and other taxes

674

(1,927

)

VAT

2,396

2,108

Other creditors

4,216

1,189

Directors' current accounts

21,099

Accrued expenses

29,910

24,400

181,500

186,180

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.9.24

30.9.23

£

Bank overdrafts

85,929

84,004

On 7 March 2013 a floating charge was created over all sums due in favour of the Bank of Scotland plc.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.24

30.9.23

value:

£

100

Ordinary

£1

100

11.

RESERVES

Retained

earnings

£

At 1 October 2023

151,923

Profit for the year

25,167

Dividends

(41,600

)

At 30 September 2024

135,490

12.	RELATED PARTY DISCLOSURES

Mr S Sarwar and Mr N Sarwar are both directors of the company.

During the year M S Grocers Ltd paid S and N Sarwar rents of £30,000.