Company Registration No. 07918364 (England and Wales)
KP Supermarket Limited
Unaudited accounts
for the year ended 31 January 2023
KP Supermarket Limited
Unaudited accounts
Contents
KP Supermarket Limited
Statement of financial position
as at 31 January 2023
Tangible assets
1,706
3,848
Cash at bank and in hand
140,543
84,546
Creditors: amounts falling due within one year
(130,358)
(20,517)
Net current assets
91,553
108,643
Total assets less current liabilities
93,259
112,491
Creditors: amounts falling due after more than one year
(26,213)
(36,124)
Provisions for liabilities
Called up share capital
100
100
Profit and loss account
66,622
75,536
Shareholders' funds
66,722
75,636
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 24 May 2023 and were signed on its behalf by
Mr Akram Mohamad
Director
Company Registration No. 07918364
KP Supermarket Limited
Notes to the Accounts
for the year ended 31 January 2023
KP Supermarket Limited is a private company, limited by shares, registered in England and Wales, registration number 07918364. The registered office is 166 Melbourne Road, Leicester, LE2 0DT.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% straight line
Motor vehicles
25% straight line
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
KP Supermarket Limited
Notes to the Accounts
for the year ended 31 January 2023
4
Intangible fixed assets
Goodwill
At 1 February 2022
100,000
At 31 January 2023
100,000
At 1 February 2022
100,000
At 31 January 2023
100,000
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 February 2022
3,842
10,170
14,012
At 31 January 2023
3,842
10,170
14,012
At 1 February 2022
2,656
7,508
10,164
Charge for the year
812
1,330
2,142
At 31 January 2023
3,468
8,838
12,306
At 31 January 2023
374
1,332
1,706
At 31 January 2022
1,186
2,662
3,848
Amounts falling due within one year
Accrued income and prepayments
8,502
8,502
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
10,648
10,648
Taxes and social security
3,034
8,374
KP Supermarket Limited
Notes to the Accounts
for the year ended 31 January 2023
8
Creditors: amounts falling due after more than one year
2023
2022
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Operating lease commitments
2023
2022
At 31 January 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
9,880
11,804
11
Average number of employees
During the year the average number of employees was 7 (2022: 7).
