Registration number: NI041972

SJM Supermarkets Limited

(Registration number: NI041972)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	5	569,376	569,376
Investment property	6	2,268,537	2,268,537
		2,837,913	2,837,913
Current assets
Stocks	7	48,731	43,044
Debtors	8	92,693	28,533
Cash at bank and in hand		67,633	105,475
		209,057	177,052
Creditors: Amounts falling due within one year	9	(69,164)	(61,612)
Net current assets		139,893	115,440
Total assets less current liabilities		2,977,806	2,953,353
Creditors: Amounts falling due after more than one year	9	(1,279,843)	(1,360,211)
Net assets		1,697,963	1,593,142
Capital and reserves
Called up share capital	10	1	1
Retained earnings		1,697,962	1,593,141
Shareholders' funds		1,697,963	1,593,142

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

SJM Supermarkets Limited

(Registration number: NI041972)
Balance Sheet as at 31 December 2024

Approved and authorised by the director on 18 March 2025
 

......................................... Mr Samuel McLean Director

SJM Supermarkets Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: 25 Old Galgorm Road, Ballymena, Co Antrim, BT42 1AL.

These financial statements were authorised for issue by the director on 18 March 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover represents amounts chargeable in respect of the sale of goods and services to customers. Revenue is recognised at the point of sale to the customer.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

SJM Supermarkets Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Asset class	Depreciation method and rate
Fixtures & fittings	25% straight line basis
Office equipment	25% straight line basis

Investment property

Investment properties are initially measured at cost. Cost comprises the purchase price and any directly attributable expenditure including fees, taxes and other transaction costs. Direct costs initially incurred in arranging a lease are included in the cost of the property and subsequently expensed over the lease term. Investment properties are measured at fair value at each reporting date with any changes in fair value recognised in the profit and loss account.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	10% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

SJM Supermarkets Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 10 (2023 - 8).

SJM Supermarkets Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 January 2024	165,930	165,930
At 31 December 2024	165,930	165,930
Amortisation
At 1 January 2024	165,930	165,930
At 31 December 2024	165,930	165,930
Carrying amount
At 31 December 2024	-	-

5	Tangible assets

	Land and buildings £	Fixtures & fittings  £	Other tangible assets £	Total £
Cost or valuation
At 1 January 2024	569,376	11,795	4,145	585,316
At 31 December 2024	569,376	11,795	4,145	585,316
Depreciation
At 1 January 2024	-	11,795	4,145	15,940
At 31 December 2024	-	11,795	4,145	15,940
Carrying amount
At 31 December 2024	569,376	-	-	569,376
At 31 December 2023	569,376	-	-	569,376

Included within the net book value of land and buildings above is £569,376 (2023 - £569,376) in respect of freehold land and buildings.
 

SJM Supermarkets Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6	Investment properties

	2024 £
At 1 January	2,268,537
At 31 December	2,268,537

The investment properties are stated at cost. In the opinion of the Director, the fair value of the properties at the reporting date is not materially different from their historic cost.

7

Stocks

	2024 £	2023 £
Goods for resale	48,731	43,044

8

Debtors

	2024 £	2023 £
Trade debtors	1,433	1,388
Prepayments	436	-
Other debtors	90,824	27,145
	92,693	28,533

9

Creditors

Amounts falling due within one year

	2024 £	2023 £
Trade creditors	16,284	13,779
Taxation and social security	39,514	35,317
Accruals and deferred income	10,852	8,652
Other creditors	2,514	3,864
	69,164	61,612

Amounts falling due after more than one year

		2024 £	2023 £
Director's loan		1,279,843	1,360,211

SJM Supermarkets Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

10	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary shares of £1 each	1	1	1	1