Registered number
SC640073
TAJ GROCERS LTD
Filleted Accounts
31 December 2024
TAJ GROCERS LTD
Registered number: SC640073
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 85,000 145,000
Tangible assets 4 588,649 503,333
673,649 648,333
Current assets
Stocks 46,026 117,173
Debtors 5 204,915 145,515
Cash at bank and in hand 88,536 12,805
339,477 275,493
Creditors: amounts falling due within one year 6 (180,226) (153,874)
Net current assets 159,251 121,619
Total assets less current liabilities 832,900 769,952
Creditors: amounts falling due after more than one year 7 (647,141) (638,453)
Net assets 185,759 131,499
Capital and reserves
Called up share capital 100 100
Profit and loss account 185,659 131,399
Shareholder's funds 185,759 131,499
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 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.
Mr Tajinder Pal Singh
Director
Approved by the board on 24 September 2025
TAJ GROCERS LTD
Notes to the Accounts
for the year ended 31 December 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 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Vehicle 10% Reducing balance
Fixtures, fittings, tools and equipment 10% 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.
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 12 20
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2024 145,000
Disposals (60,000)
At 31 December 2024 85,000
Amortisation
At 31 December 2024 -
Net book value
At 31 December 2024 85,000
At 31 December 2023 145,000
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2024 360,513 194,088 554,601
Additions 135,644 10,978 146,622
Disposals - (70,000) (70,000)
At 31 December 2024 496,157 135,066 631,223
Depreciation
At 1 January 2024 - 51,268 51,268
Charge for the year - 10,276 10,276
On disposals - (18,970) (18,970)
At 31 December 2024 - 42,574 42,574
Net book value
At 31 December 2024 496,157 92,492 588,649
At 31 December 2023 360,513 142,820 503,333
5 Debtors 2024 2023
£ £
Other debtors 204,915 145,515
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 93,653 98,590
Taxation and social security costs 77,891 51,988
Other creditors 8,682 3,296
180,226 153,874
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 413,611 432,572
Obligations under finance lease and hire purchase contracts 24,976 33,298
Directors loan account 208,554 172,583
647,141 638,453
8 Other information
TAJ GROCERS LTD is a private company limited by shares and incorporated in Scotland. Its registered office is:
106 Newhouse Road
Grangemouth
Falkirk
FK3 8NJ
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