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Registered Number: 08533690
England and Wales

 

 

 

AYAAN ICES LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 June 2022

End date: 31 May 2023
Directors Ghulam Abbas
Ghulam Abbas
Registered Number 08533690
Registered Office 29 Mancetter Square
Peterborough
PE4 6BX
Accountants Sovereign Accountants
6 Bleinheim Court
Peppercorn Close
Peterborough
PE1 2DU
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 31 May 2023.
Principal activities
Principal activity of the company during the financial year was of ...
Directors
The directors who served the company throughout the year were as follows:
Ghulam Abbas
Ghulam Abbas
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
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 (Financial Reporting Standard 102). 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 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
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • 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. The directors 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.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:


----------------------------------
Ghulam Abbas
Director

Date approved: 29 February 2024
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 May 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Sovereign Accountants
31 May 2023



....................................................
Sovereign Accountants
6 Bleinheim Court
Peppercorn Close
Peterborough
PE1 2DU
29 February 2024
3
 
 
Notes
 
2023
£
  2022
£
Turnover 589,449    564,400 
Cost of sales (295,564)   (330,166)
Gross profit 293,885    234,234 
Administrative expenses (286,118)   (221,989)
Other operating income   2,893 
Operating profit 7,767    15,138 
Other interest receivable and similar income 570    562 
Profit/(Loss) on ordinary activities before taxation 8,337    15,700 
Tax on profit on ordinary activities  
Profit/(Loss) for the financial year 8,337    15,700 
 
4
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 180,928    179,932 
180,928    179,932 
Current assets      
Stocks 4 189,635    41,500 
Cash at bank and in hand 5,352    28,032 
194,987    69,532 
Creditors: amount falling due within one year 5 (142,764)   (113,073)
Net current assets 52,223    (43,541)
 
Total assets less current liabilities 233,151    136,391 
Creditors: amount falling due after more than one year 6 (324,090)   (235,389)
Provisions for liabilities 7   (278)
Net liabilities (90,939)   (99,276)
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account (90,940)   (99,277)
Shareholder's funds (90,939)   (99,276)
 


For the year ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 29 February 2024 and were signed on its behalf by:


-------------------------------
Ghulam Abbas
Director
5
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 June 2021 1  (114,977) (114,976)
Profit for the year 15,700  15,700 
Total comprehensive income for the year 15,700  15,700 
Total investments by and distributions to owners
At 31 May 2022 1  (99,277) (99,276)
At 01 June 2022 1  (99,277) (99,276)
Profit for the year 8,337  8,337 
Total comprehensive income for the year 8,337  8,337 
Total investments by and distributions to owners
At 31 May 2023 1  (90,940) (90,939)
6
General Information
AYAAN ICES LTD is a private company, limited by shares, registered in England and Wales, registration number 08533690, registration address 29 Mancetter Square, Peterborough, PE4 6BX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 10 Reducing Balance
Fixtures and Fittings 10 Reducing Balance
Plant and Machinery 10 Reducing Balance
Motor Vehicles 10 Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 5 (2022 : 5).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 June 2022 41,000    287,645    4,007    765    333,417 
Additions        
Disposals        
At 31 May 2023 41,000    287,645    4,007    765    333,417 
Depreciation
At 01 June 2022 27,565    123,140    1,489    295    152,489 
Charge for year        
On disposals        
At 31 May 2023 27,565    123,140    1,489    295    152,489 
Net book values
Closing balance as at 31 May 2023 13,435    164,505    2,518    470    180,928 
Opening balance as at 01 June 2022 16,794    160,411    2,175    552    179,932 


4.

Stocks

2023
£
  2022
£
Stocks 189,635    41,500 
189,635    41,500 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 82,679    10,323 
Bank Loans & Overdrafts (Secured)   1,522 
PAYE & Social Security 1,560   
Obligations under HP/Financial Leases 43,196    75,062 
VAT 15,329    26,166 
142,764    113,073 

6.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Directors' Loan Accounts 324,090    235,389 
324,090    235,389 

7.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax   278 
  278 

7