Registered number
03640011
Ahmed Exotic Limited
Filleted Accounts
31 October 2022
Ahmed Exotic Limited
Registered number: 03640011
Balance Sheet
as at 31 October 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 628,760 637,516
Current assets
Stocks 12,700 12,079
Debtors 4 708,136 650,079
Cash at bank and in hand 209,643 236,463
930,479 898,621
Creditors: amounts falling due within one year 5 (495,168) (454,139)
Net current assets 435,311 444,482
Total assets less current liabilities 1,064,071 1,081,998
Creditors: amounts falling due after more than one year 6 (37,282) (48,376)
Net assets 1,026,789 1,033,622
Capital and reserves
Called up share capital 14,800 14,800
Profit and loss account 1,011,989 1,018,822
Shareholders' funds 1,026,789 1,033,622
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Aziz Mohammed Patel
Director
Approved by the board on 3 October 2023
Ahmed Exotic Limited
Notes to the Accounts
for the year ended 31 October 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings 2% straight line
Fixtures, fittings, tools and equipment 20% reducing balance
Motor vehicles 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Functional and presentation currency
The financial statements of the company are measured and presented in the currency of the primary economic environment in which the company operates, the functional currency. The financial statements are presented in Pound sterling (£), which is the company’s functional currency.
Employee benefits
Short-term employee benefits
Short-term employee benefits are recognised as an expense in the period in which they are incurred.

Post-employment defined contribution plans
Amounts in respect of defined contributions plans are recognised as an expense as they are incurred.

Termination benefits
Provisions for termination benefits are recognised only when the company is demonstrably committed to terminate the employment of an employee or of a group of employees before their normal retirement date or to provide termination benefits as a result of an offer made in order to encourage voluntary redundancy.
Going concern
The financial statements have been prepared on the basis that the company will receive continued financial support from bank and director and has adequate resources to continue in operational existence for the foreseeable future.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 7 7
3 Tangible fixed assets
Land and buildings Fixtures, fittings, tools and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 November 2021 659,623 118,824 120,966 899,413
At 31 October 2022 659,623 118,824 120,966 899,413
Depreciation
At 1 November 2021 - 157,260 104,637 261,897
Charge for the year - 5,490 3,266 8,756
At 31 October 2022 - 162,750 107,903 270,653
Net book value
At 31 October 2022 659,623 (43,926) 13,063 628,760
At 31 October 2021 659,623 (38,436) 16,329 637,516
4 Debtors 2022 2021
£ £
Trade debtors 640,321 594,188
Other debtors 67,815 55,891
708,136 650,079
5 Creditors: amounts falling due within one year 2022 2021
£ £
Trade creditors 399,387 279,193
Taxation and social security costs 95,780 174,946
Other creditors 1 -
495,168 454,139
6 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 37,282 48,376
7 Controlling party
The directors do not consider there to be an ultimate controlling party.
8 Other information
Ahmed Exotic Limited is a private company limited by shares and incorporated in England. Its registered office is:
P52-P53a Western International
Market Hayes Road
Southall
Middlesex
UB2 5XJ
Ahmed Exotic Limited 03640011 false 2021-11-01 2022-10-31 2022-10-31 VT Final Accounts April 2022 Aziz Mohammed Patel No description of principal activity 03640011 2020-11-01 2021-10-31 03640011 core:WithinOneYear 2021-10-31 03640011 core:AfterOneYear 2021-10-31 03640011 core:ShareCapital 2021-10-31 03640011 core:RetainedEarningsAccumulatedLosses 2021-10-31 03640011 2021-11-01 2022-10-31 03640011 bus:PrivateLimitedCompanyLtd 2021-11-01 2022-10-31 03640011 bus:AuditExempt-NoAccountantsReport 2021-11-01 2022-10-31 03640011 bus:Director40 2021-11-01 2022-10-31 03640011 1 2021-11-01 2022-10-31 03640011 2 2021-11-01 2022-10-31 03640011 core:LandBuildings 2021-11-01 2022-10-31 03640011 core:PlantMachinery 2021-11-01 2022-10-31 03640011 core:Vehicles 2021-11-01 2022-10-31 03640011 countries:England 2021-11-01 2022-10-31 03640011 bus:FRS102 2021-11-01 2022-10-31 03640011 bus:FullAccounts 2021-11-01 2022-10-31 03640011 2022-10-31 03640011 core:WithinOneYear 2022-10-31 03640011 core:AfterOneYear 2022-10-31 03640011 core:ShareCapital 2022-10-31 03640011 core:RetainedEarningsAccumulatedLosses 2022-10-31 03640011 core:LandBuildings 2022-10-31 03640011 core:PlantMachinery 2022-10-31 03640011 core:Vehicles 2022-10-31 03640011 2021-10-31 03640011 core:LandBuildings 2021-10-31 03640011 core:PlantMachinery 2021-10-31 03640011 core:Vehicles 2021-10-31 iso4217:GBP xbrli:pure