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REGISTERED NUMBER: 10917444 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2021

for

Morouj Commodities Uk Limited

Morouj Commodities Uk Limited (Registered number: 10917444)






Contents of the Financial Statements
for the Year Ended 31 August 2021




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


Morouj Commodities Uk Limited

Company Information
for the Year Ended 31 August 2021







DIRECTOR: Khalid Mohamed Salih Idris





REGISTERED OFFICE: Scottish Provident House
76-80 College Road
Harrow
Middlesex
HA1 1BQ





BUSINESS ADDRESS: 137 Pastures Avenue
Weston-super-Mare
BS22 7SB





REGISTERED NUMBER: 10917444 (England and Wales)





ACCOUNTANTS: Merali's Chartered Accountants
Scottish Provident House
76-80 College Road
Harrow
Middlesex
HA1 1BQ

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Morouj Commodities Uk Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Morouj Commodities Uk Limited for the year ended 31 August 2021 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Morouj Commodities Uk Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Morouj Commodities Uk Limited and state those matters that we have agreed to state to the director of Morouj Commodities Uk Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Morouj Commodities Uk Limited and its director for our work or for this report.

It is your duty to ensure that Morouj Commodities Uk Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Morouj Commodities Uk Limited. You consider that Morouj Commodities Uk Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Morouj Commodities Uk Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Merali's Chartered Accountants
Scottish Provident House
76-80 College Road
Harrow
Middlesex
HA1 1BQ


31 August 2022

Morouj Commodities Uk Limited (Registered number: 10917444)

Balance Sheet
31 August 2021

2021 2020
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,436 1,983

CURRENT ASSETS
Stocks 627,135 290,723
Debtors 5 606,880 659,328
Cash at bank 30,040 343,425
1,264,055 1,293,476
CREDITORS
Amounts falling due within one year 6 (1,082,730 ) (1,312,657 )
NET CURRENT ASSETS/(LIABILITIES) 181,325 (19,181 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

182,761

(17,198

)

PROVISIONS FOR LIABILITIES 7 (273 ) (377 )
NET ASSETS/(LIABILITIES) 182,488 (17,575 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 182,388 (17,675 )
182,488 (17,575 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 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.

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

The financial statements were approved by the director and authorised for issue on 31 August 2022 and were signed by:





Khalid Mohamed Salih Idris - Director


Morouj Commodities Uk Limited (Registered number: 10917444)

Notes to the Financial Statements
for the Year Ended 31 August 2021

1. STATUTORY INFORMATION

Morouj Commodities Uk Limited 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 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. The presentation currency is GBP Sterling Pound.

These financial statements for the year ended 31 August 2020 are the first financial statements that comply with FRS 102 Section 1A small entities. The date of transition is 1 September 2018. The transition from FRS 105 to FRS 102 Section 1A small entities has resulted in slight changes to the accounts and comparatives have been accordingly restated.

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. Fixtures and Fittings 15% on reducing balance and Computer equipment on straight line over 3 years.

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 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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 2 (2020 - 2 ) .

Morouj Commodities Uk Limited (Registered number: 10917444)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2021

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 September 2020
and 31 August 2021 2,327 2,564 4,891
DEPRECIATION
At 1 September 2020 898 2,010 2,908
Charge for year 214 333 547
At 31 August 2021 1,112 2,343 3,455
NET BOOK VALUE
At 31 August 2021 1,215 221 1,436
At 31 August 2020 1,429 554 1,983

5. DEBTORS
2021 2020
£    £   
Amounts falling due within one year:
Trade debtors 573,621 656,517
Other debtors 32,409 1,961
606,030 658,478

Amounts falling due after more than one year:
Other debtors 850 850

Aggregate amounts 606,880 659,328

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade creditors 1,030,636 1,234,724
Taxation and social security 43,758 386
Other creditors 8,336 77,547
1,082,730 1,312,657

7. PROVISIONS FOR LIABILITIES
2021 2020
£    £   
Deferred tax 273 377

Morouj Commodities Uk Limited (Registered number: 10917444)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2021

7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 September 2020 377
Movement during the year (104 )
Balance at 31 August 2021 273

8. GOING CONCERN

After making enquiries and following careful consideration of COVID-19 impact, the director has formed a judgement at the time of approving the financial statements, that there is a reasonable expectation that the company has adequate resources to continue in its operational existence for the foreseeable future. This is because the main liabilities represent unsecured balances payable to Morouj Commodities UAE, a related party company. The director is confident there is full support from the related company in this regard.

Based on the results during the national lockdown period together with after date transactions and financial forecasts, director does not believe COVID-19 will have significant impact on the business in the foreseeable future.

Director also expects a boost in sales following expected positive outcome of the ongoing dispute with the main debtor.

9. RELATED PARTY DISCLOSURES

Included in trade creditors is a balance of £1,016,659 (2020: £941,219) payable to Morouj Commodities UAE.

Included in other creditors is a balance of nil (2020: £70,796) payable to Morouj Commodities UAE. This is an interest free loan with no fixed repayment terms and is repayable on demand.

Included in sales is £38,625 introduction fee charged to Morouj Commodities UAE for introducing customers.

The purchases of £1,024,939 during the year are from Morouj Commodities UAE.

10. POST BALANCE SHEET EVENTS

The ongoing dispute with main debtor is under negotiations and good progress is being made. The director expects a positive conclusion of the matter.

11. ULTIMATE CONTROLLING PARTY

The company is controlled by the director by virtue of holding 100% share capital of the company.