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REGISTERED NUMBER: 04551594 (England and Wales)












STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

A & J AUDHALI FRESH FARM FOODS LIMITED

A & J AUDHALI FRESH FARM FOODS LIMITED (REGISTERED NUMBER: 04551594)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 January 2023




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Income Statement 7

Other Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Notes to the Financial Statements 11


A & J AUDHALI FRESH FARM FOODS LIMITED

COMPANY INFORMATION
for the year ended 31 January 2023







DIRECTORS: A A Audhali
J A Audhali



SECRETARY: J A Audhali



REGISTERED OFFICE: 14 Harriott Drive
Heathcote Industrial Estate
Warwick
Warwickshire
CV34 6TJ



REGISTERED NUMBER: 04551594 (England and Wales)



AUDITORS: Harrison Beale & Owen Limited
Chartered Accountants and Statutory Auditor
Highdown House
11 Highdown Road
Leamington Spa
Warwickshire
CV31 1XT



BANKERS: Lloyds Bank plc
12 Swan Street
Warwick
CV34 4BJ

A & J AUDHALI FRESH FARM FOODS LIMITED (REGISTERED NUMBER: 04551594)

STRATEGIC REPORT
for the year ended 31 January 2023

The directors present their strategic report for the year ended 31 January 2023.

REVIEW OF BUSINESS
During the year the company's turnover increased by 14% from £23,794,088 to £27,195,211 and a profit before taxation of £2,006,387 (2022: £1,047,902) was achieved.

Shareholders' funds at 31 January 2023 amounted to £4,058,965 (2022: £3,405,597). The directors consider the state of affairs of the company to be satisfactory.

PRINCIPAL RISKS AND UNCERTAINTIES
The company's principal exposure to risks are through pricing volatility, both as a result of changes in prices of products and through exchange rate fluctuations, as management are in part reliant on suppliers based overseas.

Management are mindful of these key risks to the business and have adopted strategies, which include: continued scrutiny of pricing and rates of exchange; sourcing of product from various suppliers; and management of its purchase cycle.

Management also acknowledge exposure to interest rate and credit risks and these are also assessed continuously in order to minimise their impact.

FUTURE DEVELOPMENTS

Continued impact of Brexit
The directors are pleased at how the well the company has been able to trade throughout 2022/23, when the impacts of Brexit was still being felt across the UK.

Given how well the company has managed to trade during this period, the directors are confident that the company will still be profitable in the forthcoming 12 months and beyond although, even now, some uncertainties persist.

The directors are still mindful of the impact of the UK's exit from the European Union and these associated risks have been embedded into the company's risk assessments. Nevertheless, the impact of "Brexit" is still being felt across the sector with supply lead times throughout 2022/23 being the most acute of the limiting factors on trading. However, the directors believe the company is relatively insulated in the medium term against this and the other risks related to "Brexit" as the company overwhelmingly trades in the UK and has strong and well established supply links with its suppliers and manufacturers.

As such, the directors believe the company to be a going concern and have adopted this assumption in preparing the financial statements, having considered any material uncertainties in this regard for a period of at least 12 months from the date of approval of these financial statements.

ON BEHALF OF THE BOARD:





J A Audhali - Director


25 October 2023

A & J AUDHALI FRESH FARM FOODS LIMITED (REGISTERED NUMBER: 04551594)

REPORT OF THE DIRECTORS
for the year ended 31 January 2023

The directors present their report with the financial statements of the company for the year ended 31 January 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of meat wholesalers to the catering industry.

DIVIDENDS
The total distribution of dividends for the year ended 31 January 2023 will be £978,624.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 February 2022 to the date of this report.

A A Audhali
J A Audhali

DISCLOSURE IN THE STRATEGIC REPORT
The company's review of business, principal risks and uncertainties and future developments are disclosed within the strategic report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:





J A Audhali - Director


25 October 2023

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
A & J AUDHALI FRESH FARM FOODS LIMITED

Opinion
We have audited the financial statements of A & J Audhali Fresh Farm Foods Limited (the 'company') for the year ended 31 January 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 January 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
A & J AUDHALI FRESH FARM FOODS LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The audit process includes an assessment of the entity's risk environment, through enquiry of and discussion with management, including an assessment of any key laws and regulations with which the company must comply in the ordinary course of its business.

Additionally, the overall risks of irregular transactions occurring are assessed following our observations and confirmation of the design and implementation of management's controls. Whilst we are mindful of these risks, our audit focus is geared towards the risk of material misstatement in the financial statements as a whole.

As such, our procedures cannot guarantee that all transactions have been fully compliant with all relevant laws and regulations, including those regulations relating to fraud, as our procedures are not designed to detect all instances of non-compliance. By definition, the risk of our detection of non-compliance is greater where compliance with a law or regulation is removed from the events and transactions reflected in the financial statements. The risk is also greater regarding irregularities due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
A & J AUDHALI FRESH FARM FOODS LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Mark Ashfield BA FCA (Senior Statutory Auditor)
for and on behalf of Harrison Beale & Owen Limited
Chartered Accountants and Statutory Auditor
Highdown House
11 Highdown Road
Leamington Spa
Warwickshire
CV31 1XT

25 October 2023

A & J AUDHALI FRESH FARM FOODS LIMITED (REGISTERED NUMBER: 04551594)

INCOME STATEMENT
for the year ended 31 January 2023

2023 2022
Notes £    £   

TURNOVER 3 27,195,211 23,794,088

Cost of sales 23,183,077 20,773,785
GROSS PROFIT 4,012,134 3,020,303

Administrative expenses 2,029,790 1,981,205
1,982,344 1,039,098

Other operating income 29,432 18,862
OPERATING PROFIT 5 2,011,776 1,057,960

Interest receivable and similar income 6,394 -
2,018,170 1,057,960

Interest payable and similar expenses 6 11,783 10,058
PROFIT BEFORE TAXATION 2,006,387 1,047,902

Tax on profit 7 374,396 187,579
PROFIT FOR THE FINANCIAL YEAR 1,631,991 860,323

A & J AUDHALI FRESH FARM FOODS LIMITED (REGISTERED NUMBER: 04551594)

OTHER COMPREHENSIVE INCOME
for the year ended 31 January 2023

2023 2022
Notes £    £   

PROFIT FOR THE YEAR 1,631,991 860,323


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,631,991

860,323

A & J AUDHALI FRESH FARM FOODS LIMITED (REGISTERED NUMBER: 04551594)

BALANCE SHEET
31 January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 578,361 611,211

CURRENT ASSETS
Stocks 10 519,646 518,290
Debtors 11 1,791,387 1,313,573
Cash at bank 4,154,406 3,964,127
6,465,439 5,795,990
CREDITORS
Amounts falling due within one year 12 2,742,417 2,628,975
NET CURRENT ASSETS 3,723,022 3,167,015
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,301,383

3,778,226

CREDITORS
Amounts falling due after more than one
year

13

(133,386

)

(256,499

)

PROVISIONS FOR LIABILITIES 16 (109,032 ) (116,130 )
NET ASSETS 4,058,965 3,405,597

CAPITAL AND RESERVES
Called up share capital 17 101 100
Retained earnings 18 4,058,864 3,405,497
SHAREHOLDERS' FUNDS 4,058,965 3,405,597

The financial statements were approved by the Board of Directors and authorised for issue on 25 October 2023 and were signed on its behalf by:





J A Audhali - Director


A & J AUDHALI FRESH FARM FOODS LIMITED (REGISTERED NUMBER: 04551594)

STATEMENT OF CHANGES IN EQUITY
for the year ended 31 January 2023

Called up
share Retained Total
capital earnings equity
£    £    £   

Balance at 1 February 2021 100 2,686,974 2,687,074

Changes in equity
Dividends - (141,800 ) (141,800 )
Total comprehensive income - 860,323 860,323
Balance at 31 January 2022 100 3,405,497 3,405,597

Changes in equity
Issue of share capital 1 - 1
Dividends - (978,624 ) (978,624 )
Total comprehensive income - 1,631,991 1,631,991
Balance at 31 January 2023 101 4,058,864 4,058,965

A & J AUDHALI FRESH FARM FOODS LIMITED (REGISTERED NUMBER: 04551594)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 January 2023

1. STATUTORY INFORMATION

A & J Audhali Fresh Farm Foods 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 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 financial statements are presented in sterling which is the functional currency of the company and is rounded to the nearest £1.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with group companies.

Critical accounting judgements and key sources of estimation uncertainty
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

Accounting judgements:
i) Operating leases
The company utilises assets which it does not own and pays for on an ongoing basis. In making the judgement as to whether such arrangements constitute finance leases or operating leases, management have assessed where the substantial risk and rewards of the ownership of the assets fall, and assessed that the counter-party, rather than the company, bears substantially all of the risks and rewards of ownership of the assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of returns, rebates, VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods
Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on delivery of the goods.

A & J AUDHALI FRESH FARM FOODS LIMITED (REGISTERED NUMBER: 04551594)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2023

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Security office - 10% on reducing balance
Plant and machinery - 10% on reducing balance
Office equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33.3% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase and other costs incurred in bringing stock to its present location and condition, including any import costs, duties and carriage.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Financial instruments
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 income statement.

A & J AUDHALI FRESH FARM FOODS LIMITED (REGISTERED NUMBER: 04551594)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2023

3. TURNOVER

Turnover is entirely attributable to the one principal activity of the company and the geographical market relates solely to the United Kingdom.

4. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 845,250 764,127
Social security costs 83,752 74,308
Other pension costs 15,054 314,136
944,056 1,152,571

The average number of employees during the year was as follows:
2023 2022

Warehouse and distribution 25 20
Finance and administration 5 5
Management 2 2
32 27

2023 2022
£    £   
Directors' remuneration 36,470 27,025
Directors' pension contributions to money purchase schemes - 300,000

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes - 2

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2023 2022
£    £   
Other operating leases 2,944 2,944
Depreciation - owned assets 41,680 36,174
Depreciation - assets on hire purchase contracts 91,084 121,445
Loss/(profit) on disposal of fixed assets 51,201 (4,775 )
Auditors' remuneration 9,470 10,000
Operating leases - land and buildings 104,060 100,000

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Hire purchase 11,783 10,058

A & J AUDHALI FRESH FARM FOODS LIMITED (REGISTERED NUMBER: 04551594)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2023

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 381,495 171,657
Corporation tax prior years - 8
Total current tax 381,495 171,665

Deferred tax (7,099 ) 15,914
Tax on profit 374,396 187,579

UK corporation tax has been charged at 19% (2022 - 19%).

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£    £   
Profit before tax 2,006,387 1,047,902
Profit multiplied by the standard rate of corporation tax in the UK of 19%
(2022 - 19%)

381,214

199,101

Effects of:
Expenses not deductible for tax purposes 854 916
Capital allowances in excess of depreciation (573 ) (28,360 )
Adjustments to tax charge in respect of previous periods - 8
Adjustment to deferred tax (7,099 ) 15,914
Total tax charge 374,396 187,579

During the year the UK corporation tax rate remained at 19%.

Following the latest announcements, pledges were made to keep the main rate at 19% up to April 2023, after which the main rate is set to rise to 25%.

8. DIVIDENDS
2023 2022
£    £   
Ordinary "A" shares of £1 each
Interim 953,600 141,800
Ordinary "B" share of £1
Interim 25,024 -
978,624 141,800

A & J AUDHALI FRESH FARM FOODS LIMITED (REGISTERED NUMBER: 04551594)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2023

9. TANGIBLE FIXED ASSETS
Security Plant and Office
office machinery equipment
£    £    £   
COST
At 1 February 2022 - 420,126 16,193
Additions 5,012 138,994 674
Disposals - (125,264 ) (762 )
At 31 January 2023 5,012 433,856 16,105
DEPRECIATION
At 1 February 2022 - 202,664 14,564
Charge for year 501 30,583 524
Eliminated on disposal - (74,638 ) (551 )
At 31 January 2023 501 158,609 14,537
NET BOOK VALUE
At 31 January 2023 4,511 275,247 1,568
At 31 January 2022 - 217,462 1,629

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2022 796,702 48,388 1,281,409
Additions - 6,435 151,115
Disposals - (8,895 ) (134,921 )
At 31 January 2023 796,702 45,928 1,297,603
DEPRECIATION
At 1 February 2022 417,883 35,087 670,198
Charge for year 94,705 6,451 132,764
Eliminated on disposal - (8,531 ) (83,720 )
At 31 January 2023 512,588 33,007 719,242
NET BOOK VALUE
At 31 January 2023 284,114 12,921 578,361
At 31 January 2022 378,819 13,301 611,211

A & J AUDHALI FRESH FARM FOODS LIMITED (REGISTERED NUMBER: 04551594)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2023

9. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 February 2022
and 31 January 2023 770,952
DEPRECIATION
At 1 February 2022 406,617
Charge for year 91,084
At 31 January 2023 497,701
NET BOOK VALUE
At 31 January 2023 273,251
At 31 January 2022 364,335

10. STOCKS
2023 2022
£    £   
Finished goods 519,646 518,290

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 864,388 882,498
Directors' current accounts 784,289 275,805
Tax 89,637 89,637
VAT 33,214 37,920
Prepayments 19,859 27,713
1,791,387 1,313,573

A reversal of an impairment loss of £1,652 (2022: an impairment loss of £2,652) was recognised against trade debtors during the year.

All debtors are financial assets that are measured at amortised cost.

A & J AUDHALI FRESH FARM FOODS LIMITED (REGISTERED NUMBER: 04551594)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2023

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 14) 123,113 128,894
Trade creditors 1,974,576 1,921,313
Amounts owed to group undertakings 188,348 209,089
Tax 309,995 261,294
Social security and other taxes 31,168 29,229
Pension control 3,527 3,227
Shareholders loan account 6,275 -
Directors' current accounts 49,777 26,411
Accruals and deferred income 55,638 49,518
2,742,417 2,628,975

All creditors are financial liabilities measured at amortised cost.

Amounts owed to group undertakings are unsecured, repayable under normal commercial arrangements and carry no interest.

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts (see note 14) 133,386 256,499

14. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 123,113 128,894
Between one and five years 133,386 256,499
256,499 385,393

Non-cancellable operating leases
2023 2022
£    £   
Within one year 142,944 102,944
Between one and five years 690,541 5,151
833,485 108,095

A & J AUDHALI FRESH FARM FOODS LIMITED (REGISTERED NUMBER: 04551594)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2023

15. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 256,499 385,393

The hire purchase contracts are secured on the assets concerned.

16. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 109,032 116,130

Deferred
tax
£   
Balance at 1 February 2022 116,130
Provided during year (7,098 )
Balance at 31 January 2023 109,032

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary "A" £1 100 100
1 Ordinary "B" £1 1 -
101 100

0 Ordinary "A" share of £1 was allotted and fully paid for cash at par during the year.
1 Ordinary "B" share of £1 was allotted and fully paid for cash at par during the year.

All Ordinary shares rank pari passu with respect to voting rights, the rights to distribution of dividends and the repayment of capital.

During the year the share capital was re-designated as 100 Ordinary "A" and 1 Ordinary "B" £1 shares.

A & J AUDHALI FRESH FARM FOODS LIMITED (REGISTERED NUMBER: 04551594)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2023

18. RESERVES
Retained
earnings
£   

At 1 February 2022 3,405,497
Profit for the year 1,631,991
Dividends (978,624 )
At 31 January 2023 4,058,864

Retained earnings

This reserve represents all current and prior year retained profits and losses.

19. PENSION COMMITMENTS

The company operates a defined contribution pension scheme in respect of the directors and certain employees. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and amounted to £15,054 (2022 - £314,136). At the year end there was a balance outstanding amounting to £3,527 (2022 - £3,227).

20. ULTIMATE PARENT COMPANY

A & J Audhali Enterprises Limited is regarded by the directors as being the company's ultimate parent company.

A & J Audhali Enterprises Limited is the largest group which publishes financial statements that consolidate this entity.

These group financial statements are available to the public from:-

Highdown House
11 Highdown Road,
Sydenham,
Leamington Spa
Warwickshire
CV31 1XT

21. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2023 and 31 January 2022:

2023 2022
£    £   
A A Audhali
Balance outstanding at start of year 275,805 199,805
Amounts advanced 514,000 82,000
Amounts repaid (5,516 ) (6,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 784,289 275,805

A & J AUDHALI FRESH FARM FOODS LIMITED (REGISTERED NUMBER: 04551594)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2023

22. RELATED PARTY DISCLOSURES

Key management

Key management are considered to be the directors, whose remuneration is disclosed in the preceding notes to these financial statements.

23. CONTROLLING INTERESTS

The company's controlling party is A & J Audhali Enterprises Limited.