2022-03-012023-02-282023-02-28false08386428AIAM 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AIAM LIMITED

Registered Number
08386428
(England and Wales)

Unaudited Financial Statements for the Year ended
28 February 2023

AIAM LIMITED
Company Information
for the year from 1 March 2022 to 28 February 2023

Director

ISSAC, Abdullah

Registered Address

472 Greenford Road
Greenford
UB6 8SQ

Registered Number

08386428 (England and Wales)
AIAM LIMITED
Balance Sheet as at
28 February 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets737,83023,726
37,83023,726
Current assets
Stocks827,67521,500
Debtors9265,862671,321
Cash at bank and on hand947,095278,729
1,240,632971,550
Creditors amounts falling due within one year10(575,198)(530,982)
Net current assets (liabilities)665,434440,568
Total assets less current liabilities703,264464,294
Creditors amounts falling due after one year11-(319)
Net assets703,264463,975
Capital and reserves
Called up share capital7070
Profit and loss account703,194463,905
Shareholders' funds703,264463,975
The financial statements were approved and authorised for issue by the Director on 27 October 2023, and are signed on its behalf by:
ISSAC, Abdullah
Director
Registered Company No. 08386428
AIAM LIMITED
Notes to the Financial Statements
for the year ended 28 February 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principal activity of the company in the year under review was that of retail pharmacy.
4.Basis of measurement used in financial statements
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).
5.Accounting policies
Turnover policy
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.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-15
Plant and machinery-15
Fixtures and fittings15-
Vehicles-4
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Government grants and other government assistance policy
During the year, the company received a government grant of £NIL (2022: £1,907) under the job retention scheme due to the Covid 19 pandemic.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
6.Employee information

20232022
Average number of employees during the year77
7.Property, plant and equipment

Land & buildings

Plant & machinery

Vehicles

Office Equipment

Total

£££££
Cost or valuation
At 01 March 2254,15012,6711,25059,642127,713
Additions---17,95017,950
At 28 February 2354,15012,6711,25077,592145,663
Depreciation and impairment
At 01 March 2254,15012,6711,25035,916103,987
Charge for year---3,8463,846
At 28 February 2354,15012,6711,25039,762107,833
Net book value
At 28 February 23---37,83037,830
At 28 February 22---23,72623,726
8.Stocks

2023

2022

££
Finished goods27,67521,500
Total27,67521,500
9.Debtors

2023

2022

££
Trade debtors / trade receivables212,170184,197
Other debtors53,177487,124
Prepayments and accrued income515-
Total265,862671,321
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.
10.Creditors within one year

2023

2022

££
Trade creditors / trade payables306,262266,845
Taxation and social security74,49053,820
Other creditors132,446209,317
Accrued liabilities and deferred income62,0001,000
Total575,198530,982
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.
11.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts-319
Total-319