Sussex Food Markets Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 14797352

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		70,064		68,997

			70,064		68,997
CURRENT ASSETS
Stocks	5	127,616		97,411
Debtors	6	40,336		25,987
Cash at bank and in hand		9,745		16,681

		177,697		140,079
Creditors: Amounts Falling Due Within One Year	7	(238,104 )		(204,206 )

NET CURRENT ASSETS (LIABILITIES)			(60,407 )		(64,127 )

TOTAL ASSETS LESS CURRENT LIABILITIES			9,657		4,870

NET ASSETS			9,657		4,870

CAPITAL AND RESERVES
Called up share capital	8		100		100
Profit and Loss Account			9,557		4,770

SHAREHOLDERS' FUNDS			9,657		4,870

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Sussex Food Markets Limited

Balance Sheet (continued)

As At 30 April 2025

For the year ending 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr A L Chapman

Director

7 January 2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Sussex Food Markets Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14797352 . The registered office is Unit 1 New Wharf, Brighton Road,, Shoreham-By-Sea, BN43 6RN.

The company commenced trading on 1 May 2023.

The presentation currency is £ sterling.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. 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.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point of sale or delivery in retail operations.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	Evenly over the lease term
Plant & Machinery	15%, 20%, 25% and 33% straight line basis
Motor Vehicles	20% on the reducing balance basis

2.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.5. Financial Instruments

Financial instruments are recognised in the company’s statement of financial position when the company become party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to do so and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs.

Financial assets classified as receivable within one year are not amortised.

...CONTINUED

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Sussex Food Markets Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

2.5. Financial Instruments - continued

Where financial assets are classified as receivable in more than one year, they are subsequently carried at amortised cost using the effective interest rate method unless the arrangement constitutes a financing transaction, where the transaction is measured as the present value of the future receipts discounted at a market rate of interest.

Cash and cash equivalents

Cash and cash equivalents are basic financial instruments and include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings within current liabilities.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 9 (2024: 11)

4. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Motor Vehicles	Total
	£	£	£	£
Cost
As at 1 May 2024	25,940	53,709	5,200	84,849
Additions	16,480	4,000	-	20,480

As at 30 April 2025	42,420	57,709	5,200	105,329

Depreciation
As at 1 May 2024	2,594	12,418	840	15,852
Provided during the period	4,791	13,750	872	19,413

As at 30 April 2025	7,385	26,168	1,712	35,265

Net Book Value
As at 30 April 2025	35,035	31,541	3,488	70,064

As at 1 May 2024	23,346	41,291	4,360	68,997

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Sussex Food Markets Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2025

5. Stocks

	2025	2024
	£	£
Stock	127,616	97,411

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	2,082	598
Other debtors	38,254	25,389

	40,336	25,987

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	213,494	168,911
Other loans	-	8,163
Other creditors	19,844	27,132
Taxation and social security	4,766	-

	238,104	204,206

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

9. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2025	2024
	£	£
Not later than one year	52,580	70,580
Later than one year and not later than five years	210,320	228,320
Later than five years	131,450	184,030

	394,350	482,930

The company has lease obligations in respect of one rental property which expires in 7.5 years. The future rental obligations are listed above.

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