Liquormart Enterprises Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 12754479 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 October 2023

for

Liquormart Enterprises Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J S Atwal

Mrs H K Atwal

REGISTERED OFFICE:

c/o Locke Williams Associates LLP

Blackthorn House

St Pauls Square

Birmingham

West Midlands

B3 1RL

REGISTERED NUMBER:

12754479 (England and Wales)

ACCOUNTANTS:

Locke Williams Associates LLP

Chartered Accountants

c/o Blackthorn House

St Pauls Square

Birmingham

West Midlands

B3 1RL

FIXED ASSETS

Intangible assets

4

-

5,000

Tangible assets

5

19,757

2,728

19,757

7,728

CURRENT ASSETS

Stocks

277,476

249,476

Debtors

6

3,186

3,103

Cash at bank and in hand

15,389

28,957

296,051

281,536

CREDITORS

Amounts falling due within one year

7

240,415

217,678

NET CURRENT ASSETS

55,636

63,858

TOTAL ASSETS LESS CURRENT LIABILITIES

75,393

71,586

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

75,293

71,486

SHAREHOLDERS' FUNDS

75,393

71,586

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 26 April 2024 and were signed on its behalf by:

J S Atwal - Director

1.	STATUTORY INFORMATION

Liquormart Enterprises 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.

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of two years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and Machinery etc - 15% on cost

Computer Equipment - 25% on cost

Stocks

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

Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

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

Debtors and creditors with no stated interest rate and receivable or payable with one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2022

and 31 October 2023

10,000

AMORTISATION

At 1 November 2022

5,000

Charge for year

5,000

At 31 October 2023

10,000

NET BOOK VALUE

At 31 October 2023

-

At 31 October 2022

5,000

The goodwill was transferred from its associated company, Liquormart JSA Ltd, at the net book value as at 01st November 2021.

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2022

3,281

Additions

20,478

At 31 October 2023

23,759

DEPRECIATION

At 1 November 2022

553

Charge for year

3,449

At 31 October 2023

4,002

NET BOOK VALUE

At 31 October 2023

19,757

At 31 October 2022

2,728

The fixtures and fittings were transferred from the associated company, Liquormart JSA Ltd at the net book value on 01st November 2021.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.23

31.10.22

£

£

Other debtors

3,186

3,103

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.23

31.10.22

£

£

Bank loans and overdrafts

15,285

-

Trade creditors

11,696

6,236

Amounts owed to participating interests

169,521

163,017

Taxation and social security

5,765

35,491

Other creditors

38,148

12,934

240,415

217,678

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.23

31.10.22

value:

£

£

100

Ordinary

£1

100

100