Registered number
SC522287
ALI AND SONS (SCOTLAND) LIMITED
Filleted Accounts
30 April 2023
ALI AND SONS (SCOTLAND) LIMITED
Registered number: SC522287
Balance Sheet
as at 30 April 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 220,588 70,588
Tangible assets 4 84,053 89,691
304,641 160,279
Current assets
Stocks 140,920 90,115
Debtors 5 1,506 2,347
Cash at bank and in hand 34,952 73,427
177,378 165,889
Creditors: amounts falling due within one year 6 (285,343) (145,888)
Net current (liabilities)/assets (107,965) 20,001
Total assets less current liabilities 196,676 180,280
Net assets 196,676 180,280
Capital and reserves
Called up share capital 100 100
Profit and loss account 196,576 180,180
Shareholders' funds 196,676 180,280
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.
MUHAMMAD IMRAN WASEEM
Director
Approved by the board on 2 November 2023
ALI AND SONS (SCOTLAND) LIMITED
Notes to the Accounts
for the year ended 30 April 2023
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 and from the rendering of services.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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 AT 10% Reducing value.
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.
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. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 16 11
3 Intangible fixed assets £
Goodwill:
Cost
At 1 May 2022 70,588
Additions 150,000
Disposals -
At 30 April 2023 220,588
Amortisation
At 1 May 2022 -
Provided during the year -
On disposals -
At 30 April 2023 -
Net book value
At 30 April 2023 220,588
At 30 April 2022 70,588
4 Tangible fixed assets
Fixtures & Fittings Equipment Motor vehicles Total
£ £ £ £
Cost
At 1 May 2022 84,947 8,785 30,454 124,186
Additions - 3,701 - 3,701
Surplus on revaluation - - - -
Disposals - - - -
At 30 April 2023 84,947 12,486 30,454 127,887
Depreciation
At 1 May 2022 30,495 954 3,046 34,495
Charge for the year 5,445 1,153 2,741 9,339
Surplus on revaluation - - - -
On disposals - - - -
At 30 April 2023 35,940 2,107 5,787 43,834
Net book value
At 30 April 2023 49,007 10,379 24,667 84,053
At 30 April 2022 54,452 7,831 27,408 89,691
5 Debtors 2023 2022
£ £
Other debtors 1,506 2,347
1,506 2,347
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 42,764 59,471
Accruals 6,506 -
Trade creditors 30,128 -
Taxation and social security costs 25,169 21,232
Other creditors 180,776 65,185
285,343 145,888
7 Other information
ALI AND SONS (SCOTLAND) LIMITED is a private company limited by shares and incorporated in Scotland. Its registered office is:
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