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Company Registration No. 10251078 (England and Wales)
RANI'S FROZEN FOODS LTD Unaudited accounts for the year ended 30 June 2023
RANI'S FROZEN FOODS LTD Statement of financial position as at 30 June 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
87,869 
96,238 
Current assets
Inventories
35,675 
31,910 
Debtors
150,145 
137,529 
Cash at bank and in hand
22,570 
98,076 
208,390 
267,515 
Creditors: amounts falling due within one year
(180,404)
(258,435)
Net current assets
27,986 
9,080 
Total assets less current liabilities
115,855 
105,318 
Creditors: amounts falling due after more than one year
(29,589)
(40,004)
Provisions for liabilities
Deferred tax
(8,753)
- 
Net assets
77,513 
65,314 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
77,512 
65,313 
Shareholders' funds
77,513 
65,314 
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 20 October 2023 and were signed on its behalf by
Ahsan Ali Director Company Registration No. 10251078
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RANI'S FROZEN FOODS LTD Notes to the Accounts for the year ended 30 June 2023
1
Statutory information
RANI'S FROZEN FOODS LTD is a private company, limited by shares, registered in England and Wales, registration number 10251078. The registered office is UNIT 1, WHETLY MILL HOCKNEY ROAD, OFF THORNTON ROAD, BRADFORD, WEST YORKSHIRE, BD8 8LQ, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on reducing balance
Motor vehicles
20% on reducing balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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RANI'S FROZEN FOODS LTD Notes to the Accounts for the year ended 30 June 2023
Going concern
The directors have carried out a detailed review of the company's resources and projected income streams. They are confident that the company has sufficient cash flows to meets its liabilities as they fall due for at least one year from the date of approval of the financial statements. Therefore, the company continues to adopt the going concern basis in preparing the financial statements.
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 July 2022
20,000 
94,469 
13,200 
127,669 
Additions
- 
8,598 
- 
8,598 
At 30 June 2023
20,000 
103,067 
13,200 
136,267 
Depreciation
At 1 July 2022
- 
27,471 
3,960 
31,431 
Charge for the year
- 
15,119 
1,848 
16,967 
At 30 June 2023
- 
42,590 
5,808 
48,398 
Net book value
At 30 June 2023
20,000 
60,477 
7,392 
87,869 
At 30 June 2022
20,000 
66,998 
9,240 
96,238 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
11,272 
- 
Trade debtors
138,873 
87,968 
Other debtors
- 
49,561 
150,145 
137,529 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
5,160 
6,355 
Trade creditors
77,152 
238,932 
Taxes and social security
27,021 
13,148 
Other creditors
70,136 
- 
Accruals
935 
- 
180,404 
258,435 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
29,589 
40,004 
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RANI'S FROZEN FOODS LTD Notes to the Accounts for the year ended 30 June 2023
8
Deferred taxation
2023 
2022 
£ 
£ 
Accelerated capital allowances
8,753 
- 
2023 
2022 
£ 
£ 
Charged to the profit and loss account
8,753 
- 
Provision at end of year
8,753 
- 
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
10
Transactions with related parties
During the year the company paid dividends of £15,000 (2022 - £10,000) to Mr A Ali who is the director and shareholder of the company. The company also paid dividends of £10,000 (2022 - £25,000) to Mrs S Yasin who is also a director and shareholder of the company.
11
Average number of employees
During the year the average number of employees was 23 (2022: 29).
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