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REGISTERED NUMBER: SC429986 (Scotland)















Unaudited Financial Statements for the Year Ended 31 August 2018

for

Rashid & Sons Ltd.

Rashid & Sons Ltd. (Registered number: SC429986)






Contents of the Financial Statements
for the Year Ended 31 August 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Rashid & Sons Ltd.

Company Information
for the Year Ended 31 August 2018







DIRECTORS: Farooq Ahmed
Rashida Begum





REGISTERED OFFICE: 8 Telford Place
Linlithgow
West Lothian
EH49 7RP





REGISTERED NUMBER: SC429986 (Scotland)





ACCOUNTANTS: Stevenson & Kyles
Chartered Accountants
25 Sandyford Place
Glasgow
G3 7NG

Rashid & Sons Ltd. (Registered number: SC429986)

Balance Sheet
31 August 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 80,000 90,000
Tangible assets 5 46,067 41,491
126,067 131,491

CURRENT ASSETS
Stock 3,950 3,825
Debtors 6 2,054 1,089
Cash at bank and in hand 111,821 133,329
117,825 138,243
CREDITORS
Amounts falling due within one year 7 42,403 50,390
NET CURRENT ASSETS 75,422 87,853
TOTAL ASSETS LESS CURRENT
LIABILITIES

201,489

219,344

PROVISIONS FOR LIABILITIES 8 8,753 7,570
NET ASSETS 192,736 211,774

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 192,734 211,772
SHAREHOLDERS' FUNDS 192,736 211,774

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2018 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.

Rashid & Sons Ltd. (Registered number: SC429986)

Balance Sheet - continued
31 August 2018


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 9 November 2018 and were signed on
its behalf by:





Farooq Ahmed - Director


Rashid & Sons Ltd. (Registered number: SC429986)

Notes to the Financial Statements
for the Year Ended 31 August 2018

1. STATUTORY INFORMATION

Rashid & Sons Ltd. is a private company, limited by shares , registered in Scotland. 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 on acquisition of a business in 2012, is being amortised over its
estimated useful life.

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.
Fittings and equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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

Financial instruments
Basic financial instruments, including debtors and creditors with no stated interest rate and receivable
or payable within one year, are recorded at transaction price. Any losses arising from impairment are
recognised in the profit and loss account in administrative expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,
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.


Rashid & Sons Ltd. (Registered number: SC429986)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2018

2. ACCOUNTING POLICIES - continued
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 11 (2017 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2017
and 31 August 2018 100,000
AMORTISATION
At 1 September 2017 10,000
Amortisation for year 10,000
At 31 August 2018 20,000
NET BOOK VALUE
At 31 August 2018 80,000
At 31 August 2017 90,000

Rashid & Sons Ltd. (Registered number: SC429986)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2018

5. TANGIBLE FIXED ASSETS
Fittings
and Motor
equipment vehicles Totals
£    £    £   
COST
At 1 September 2017 76,482 4,300 80,782
Additions - 14,659 14,659
Disposals - (2,050 ) (2,050 )
At 31 August 2018 76,482 16,909 93,391
DEPRECIATION
At 1 September 2017 36,068 3,223 39,291
Charge for year 5,763 3,806 9,569
Eliminated on disposal - (1,536 ) (1,536 )
At 31 August 2018 41,831 5,493 47,324
NET BOOK VALUE
At 31 August 2018 34,651 11,416 46,067
At 31 August 2017 40,414 1,077 41,491

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 2,054 1,089

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Taxation and social security 38,282 42,263
Other creditors 4,121 8,127
42,403 50,390

8. PROVISIONS FOR LIABILITIES
2018 2017
£    £   
Deferred tax 8,753 7,570

Rashid & Sons Ltd. (Registered number: SC429986)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2018

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 September 2017 7,570
Charge to Income Statement during year 1,183
Balance at 31 August 2018 8,753

9. ULTIMATE CONTROLLING PARTY

The company is under the control of the directors.