| Telford Supermarket Limited |
|
| Chartered Accountants' report to the board of directors on the preparation of the unaudited abbreviated accounts of Telford Supermarket Limited for the year ended 30 September 2014 |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of Telford Supermarket Limited for the year ended 30 September 2014 which comprise of the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
icaew.com/membershandbook. |
| This report is made solely to the Board of Directors of Telford Supermarket Limited, as a body, in accordance with the terms of our engagement letter dated 29 June 2015. Our work has been undertaken solely to prepare for your approval the accounts of Telford Supermarket Limited and state those matters that we have agreed to state to the Board of Directors of Telford Supermarket Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Telford Supermarket Limited and its Board of Directors as a body for our work or for this report. |
| It is your duty to ensure that Telford Supermarket Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Telford Supermarket Limited. You consider that Telford Supermarket Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the accounts of Telford Supermarket Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the abbreviated accounts. |
|
| JS Gulati & Co |
| Chartered Accountants |
| 4 Peter james business center |
| Hayes |
| Middlesex |
| UB3 3NT |
|
| 29 June 2015 |
|
| Telford Supermarket Limited |
| Registered number: |
05439865 |
| Abbreviated Balance Sheet |
| as at 30 September 2014 |
|
| Notes |
|
|
2014 |
|
|
2013 |
| £ |
£ |
| Fixed assets |
| Intangible assets |
2 |
|
|
5,879 |
|
|
6,369 |
| Tangible assets |
3 |
|
|
6,691 |
|
|
7,582 |
|
|
|
|
12,570 |
|
|
13,951 |
|
| Current assets |
| Stocks |
|
|
85,984 |
|
|
76,355 |
| Debtors |
|
|
12,408 |
|
|
10,107 |
| Cash at bank and in hand |
|
|
10,896 |
|
|
14,381 |
|
|
|
109,288 |
|
|
100,843 |
|
| Creditors: amounts falling due within one year |
|
|
(50,455) |
|
|
(34,250) |
|
| Net current assets |
|
|
|
58,833 |
|
|
66,593 |
|
| Total assets less current liabilities |
|
|
|
71,403 |
|
|
80,544 |
|
| Creditors: amounts falling due after more than one year |
|
|
|
(50,888) |
|
|
(47,992) |
|
|
|
| Net assets |
|
|
|
20,515 |
|
|
32,552 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
4 |
|
|
100 |
|
|
100 |
| Profit and loss account |
|
|
|
20,415 |
|
|
32,452 |
|
| Shareholder's funds |
|
|
|
20,515 |
|
|
32,552 |
|
|
|
|
|
|
|
|
| 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 in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| Diljeet Singh Lamba |
| Director |
| Approved by the board on 29 June 2015 |
|
| Telford Supermarket Limited |
| Notes to the Abbreviated Accounts |
| for the year ended 30 September 2014 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
|
|
Turnover |
|
Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically delivered to the customer. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Plant and machinery |
15% reducing balance |
|
0 |
|
|
0 |
|
|
Stocks |
|
Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost. |
|
|
| 2 |
Intangible fixed assets |
£ |
|
|
Cost |
|
At 1 October 2013 |
9,799 |
|
At 30 September 2014 |
9,799 |
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 October 2013 |
3,430 |
|
Provided during the year |
490 |
|
At 30 September 2014 |
3,920 |
|
|
|
|
|
|
|
|
Net book value |
|
At 30 September 2014 |
5,879 |
|
At 30 September 2013 |
6,369 |
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 October 2013 |
20,879 |
|
At 30 September 2014 |
20,879 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 October 2013 |
13,297 |
|
Charge for the year |
891 |
|
At 30 September 2014 |
14,188 |
|
|
|
|
|
|
|
|
Net book value |
|
At 30 September 2014 |
6,691 |
|
At 30 September 2013 |
7,582 |
|
|
|
|
|
|
|
|
| 4 |
Share capital |
Nominal |
|
2014 |
|
2014 |
|
2013 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
100 |
|
100 |
|
100 |
|
|
|
|
|
|
|
|
|
