SPAR FOODMARKETS LIMITED


Directors	CALNON, Christopher Raymond
	CALNON, Peter Raymond
	CALNON, Simone Lorraine


Company Secretary	CALNON, Simone Lorraine


Registered Address	13 North Road
	Ormesby
	Great Yarmouth
	NR29 3SA


Registered Number	03913092 (England and Wales)

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Current taxation
	Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Deferred tax
	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.

Deferred tax

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.

	Intangible assets
	Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


	Reducing balance (%)	Straight line (years)
Land and buildings	15	2
Plant and machinery	15	-
Vehicles	25	-

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Stocks and work in progress
	Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

Stocks and work in progress

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.

Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	15		15

3.	Intangible assets

	Other	Total
	£	£
Cost or valuation
At 01 April 24	120,000	120,000
At 31 March 25	120,000	120,000
Amortisation and impairment
At 01 April 24	120,000	120,000
At 31 March 25	120,000	120,000
Net book value
At 31 March 25	-	-
At 31 March 24	-	-

4.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Total
	£	£	£	£
Cost or valuation
At 01 April 24	332,054	173,013	18,025	523,092
Additions	-	76,853	-	76,853
Disposals	-	(21,702)	-	(21,702)
At 31 March 25	332,054	228,164	18,025	578,243
Depreciation and impairment
At 01 April 24	119,422	154,498	10,421	284,341
Charge for year	4,253	8,011	1,900	14,164
On disposals	-	(20,226)	-	(20,226)
At 31 March 25	123,675	142,283	12,321	278,279
Net book value
At 31 March 25	208,379	85,881	5,704	299,964
At 31 March 24	212,632	18,515	7,604	238,751

5.	Stocks

	2025	2024
	£	£
Other stocks	21,529	33,518
Total	21,529	33,518

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	52,978	52,428
Bank borrowings and overdrafts	15,653	12,287
Amounts owed to related parties	2,635	5,724
Taxation and social security	7,630	13,206
Other creditors	14,501	14,150
Accrued liabilities and deferred income	1,399	2,955
Total	94,796	100,750

7.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	129,155	82,020
Total	129,155	82,020


	Included within creditors are amounts falling due after more than one year is an amount of £12,510 (2024:£21,760) in respect of liabilities payable which fall due for payment after more than five years. The bank loan is secured against the property owned by the company. The total amount secured is £76,970 (2023:£91,720).

8.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	17,401	4,963
Total	17,401	4,963

9.	Directors advances, credits and guarantees

	Brought forward	Amount advanced	Amount repaid	Carried forward
	£	£	£	£
CALNON, Christopher Raymond	8,780	0	3,713	5,067
CALNON, Simone Lorraine	1,545	0	1,545	0
CALNON, Peter Raymond	1,544	0	1,544	0
	11,869	0	6,802	5,067

10.	Related party transactions
	During the year, the interest-free loan from Calnon Properties, which holds shares in this company, has been repaid (2024:£5,724)

11.	Controlling party
	The controlling party is Chris Calnon

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	4		299,964		238,751
			299,964		238,751
Current assets
Stocks	5	21,529		33,518
Debtors		12,341		16,002
Cash at bank and on hand		38,215		67,253
		72,085		116,773
Creditors amounts falling due within one year	6	(94,796)		(100,750)
Net current assets (liabilities)			(22,711)		16,023
Total assets less current liabilities			277,253		254,774
Creditors amounts falling due after one year	7		(129,155)		(82,020)
Provisions for liabilities	8		(17,401)		(4,963)
Net assets			130,697		167,791
Capital and reserves
Called up share capital			80,300		80,300
Profit and loss account			50,397		87,491
Shareholders' funds			130,697		167,791