Registered number
08763786
RAYHAN ALAM LTD
Report and Accounts
31 December 2022
Registered number
08763786
RAYHAN ALAM LTD
Filleted Accounts
31 December 2022
RAYHAN ALAM LTD
Registered number: 08763786
Balance Sheet
as at 31 December 2022
Notes 2022 2021
£ £
Fixed assets
Intangible assets 3 20,000 20,000
Tangible assets 4 56,022 60,893
76,022 80,893
Current assets
Stocks 3,769 2,344
Cash at bank and in hand 93,597 127,367
97,366 129,711
Creditors: amounts falling due within one year 5 (64,490) (102,993)
Net current assets 32,876 26,718
Total assets less current liabilities 108,898 107,611
Creditors: amounts falling due after more than one year 6 (33,140) (43,788)
Net assets 75,758 63,823
Capital and reserves
Called up share capital 1 1
Profit and loss account 75,757 63,822
Shareholder's funds 75,758 63,823
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Mr Muhammed Rubeel
Director
Approved by the board on 11 August 2023
RAYHAN ALAM LTD
Notes to the Accounts
for the year ended 31 December 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 and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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, 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:
Plant and machinery na
Fixtures, fittings, tools and equipment 8% 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.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 7 5
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2022 20,000
At 31 December 2022 20,000
Amortisation
At 31 December 2022 -
Net book value
At 31 December 2022 20,000
At 31 December 2021 20,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Fixture & Fittings
£
Cost
At 1 January 2022 100,280
At 31 December 2022 100,280
Depreciation
At 1 January 2022 39,387
Charge for the year 4,871
At 31 December 2022 44,258
Net book value
At 31 December 2022 56,022
At 31 December 2021 60,893
5 Creditors: amounts falling due within one year 2022 2021
£ £
Trade creditors 29,573 32,225
Taxation and social security costs 17,230 18,908
Other creditors 17,687 51,860
64,490 102,993
6 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 33,140 43,788
7 Controlling party
Mr Mohammad Rubeel has a controlling interest in the company by the virtue of his 100% holding of the ordinary shares of the company.
8 Other information
RAYHAN ALAM LTD is a private company limited by shares and incorporated in England. Its registered office is:
162 Milkstone Road
Rochdale
OL11 1NX
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