FAIRVIEW GROCERS LTD - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05297505 (England and Wales)

ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2022

FOR

FAIRVIEW GROCERS LTD

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

P Paksher

SECRETARY:

Mrs N Paksher

REGISTERED OFFICE:

115 Craven Park Road

Stamford Hill

London

N15 6BL

REGISTERED NUMBER:

05297505 (England and Wales)

ACCOUNTANTS:

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

FIXED ASSETS

Tangible assets

4

87,508

80,622

CURRENT ASSETS

Stocks

124,800

138,500

Debtors

129,452

73,183

Cash at bank and in hand

13,995

16,809

268,247

228,492

CREDITORS

Amounts falling due within one year

(169,620

)

(122,978

)

NET CURRENT ASSETS

98,627

105,514

TOTAL ASSETS LESS CURRENT LIABILITIES

186,135

186,136

CREDITORS

Amounts falling due after more than one year

5

(35,344

)

(45,000

)

NET ASSETS

150,791

141,136

CAPITAL AND RESERVES

Called up share capital

6

100

100

Retained earnings

7

150,691

141,036

SHAREHOLDERS' FUNDS

150,791

141,136

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 May 2022 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 September 2022 and were signed by:

P Paksher - Director

1.	STATUTORY INFORMATION

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

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

not provided

Fixtures and fittings

-

15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2021 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2021

129,302

Additions

11,452

At 31 May 2022

140,754

DEPRECIATION

At 1 June 2021

48,680

Charge for year

4,566

At 31 May 2022

53,246

NET BOOK VALUE

At 31 May 2022

87,508

At 31 May 2021

80,622

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

31.5.22

31.5.21

£

£

Repayable by instalments

Other loans more 5yrs instal

35,344

45,000

Other creditors include £45,000 received under Bounceback Loan Scheme (BBL). The loan is unsecured, interest free for the first year, then capped at 2.5% and guaranteed by HM Government.

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.22

31.5.21

value:

£

£

100

Ordinary

£1

100

100

7.

RESERVES

Retained

earnings

£

At 1 June 2021

141,036

Profit for the year

45,655

Dividends

(36,000

)

At 31 May 2022

150,691

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £18,000 were paid to the director .