Abbreviated Company Accounts - PARRYS SUPERMARKETS LIMITED

PARRYS SUPERMARKETS LIMITED - Company Information

06482614 PARRYS SUPERMARKETS LIMITED 2014-05-31 false 2013-06-01 2014-05-31 true 06482614 2013-06-01 2014-05-31 06482614 2014-05-31 06482614 2013-05-31 06482614 uk-gaap-cd-bus:Director1 2013-06-01 2014-05-31 06482614 uk-gaap-cd-bus:Director2 2013-06-01 2014-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-06-01 2014-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-05-31 iso4217:GBP shares

Registered Number 06482614

PARRYS SUPERMARKETS LIMITED

Abbreviated Accounts

31 May 2014

PARRYS SUPERMARKETS LIMITED Registered Number 06482614

Abbreviated Balance Sheet as at 31 May 2014

	Notes	2014	2013
		£	£
Called up share capital not paid		-	-
Fixed assets
Intangible assets	2	4,651	6,575
Tangible assets	3	592,475	627,698
Investments	4	15,180	15,180
		612,306	649,453
Current assets
Stocks		72,718	64,960
Debtors	5	78,743	68,515
Cash at bank and in hand		42,643	31,686
		194,104	165,161
Prepayments and accrued income		-	-
Creditors: amounts falling due within one year	6	(307,581)	(277,195)
Net current assets (liabilities)		(113,477)	(112,034)
Total assets less current liabilities		498,829	537,419
Creditors: amounts falling due after more than one year	6	(12,778)	0
Provisions for liabilities		(11,418)	(9,597)
Accruals and deferred income		0	0
Total net assets (liabilities)		474,633	527,822
Capital and reserves
Called up share capital	7	100	100
Share premium account		0	0
Revaluation reserve		0	0
Other reserves		348,561	382,644
Profit and loss account		125,972	145,078
Shareholders' funds		474,633	527,822

For the year ending 31 May 2014 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 27 February 2015

And signed on their behalf by:
Mr. D. Parry, Director

PARRYS SUPERMARKETS LIMITED Registered Number 06482614

Notes to the Abbreviated Accounts for the period ended 31 May 2014

1Accounting Policies

Basis of measurement and preparation of accounts
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 policy
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

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

Leasehold improvements - Over the period of the Lease
Motor Vehicles - 25% reducing balance
Fixtures and fittings - 6.67% to 10% straight line
Office equipment - 10% to 25% straight line

Intangible assets amortisation policy
Development costs represent deferred revenue expenditure incurred in preparing the store for opening. The costs are being amortised over a 5 year period.

Other accounting policies
Investments held as fixed assets are shown at cost less provision for impairment if applicable.

2Intangible fixed assets

	£
Cost
At 1 June 2013	9,621
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 May 2014	9,621
Amortisation
At 1 June 2013	3,046
Charge for the year	1,924
On disposals	-
At 31 May 2014	4,970
Net book values
At 31 May 2014	4,651
At 31 May 2013	6,575

3Tangible fixed assets

	£
Cost
At 1 June 2013	705,873
Additions	15,698
Disposals	-
Revaluations	-
Transfers	-
At 31 May 2014	721,571
Depreciation
At 1 June 2013	78,175
Charge for the year	50,921
On disposals	-
At 31 May 2014	129,096
Net book values
At 31 May 2014	592,475
At 31 May 2013	627,698

4Fixed assets Investments
Cost and Net Book Value at 1st June 2013 and 31st May 2014 £15,180.

5Debtors

	2014 £	2013 £
Debtors include the following amounts due after more than one year	0	0

During the year a loan was advanced to Mr. D. Parry, a director, amounting to £46,610, (2013: £32,000). The loan was repaid before the balance sheet date. The loan was unsecured and interest was charged at a rate of 4% p.a. on the outstanding balance.

6Creditors

	2014 £	2013 £
Secured Debts	55,441	63,468

7Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
100 Ordinary shares of £1 each	100	100