Company registration number 08689054 (England and Wales)
TARIQ HALAL MEAT (HOUNSLOW) LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
PAGES FOR FILING WITH REGISTRAR
TARIQ HALAL MEAT (HOUNSLOW) LTD
COMPANY INFORMATION
Director
Mr T L Sheikh
Company number
08689054
Registered office
555-557
Cranbrook Road
Ilford
United Kingdom
IG2 6HE
TARIQ HALAL MEAT (HOUNSLOW) LTD
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 8
TARIQ HALAL MEAT (HOUNSLOW) LTD
BALANCE SHEET
AS AT 30 SEPTEMBER 2022
30 September 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
79,112
92,331
Current assets
Stocks
24,150
16,100
Debtors
4
63,076
65,248
Cash at bank and in hand
2,347
4,789
89,573
86,137
Creditors: amounts falling due within one year
5
(457,619)
(355,592)
Net current liabilities
(368,046)
(269,455)
Total assets less current liabilities
(288,934)
(177,124)
Creditors: amounts falling due after more than one year
6
(44,205)
(53,480)
Provisions for liabilities
(15,031)
(15,200)
Net liabilities
(348,170)
(245,804)
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
(348,270)
(245,904)
Total equity
(348,170)
(245,804)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 September 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

TARIQ HALAL MEAT (HOUNSLOW) LTD
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2022
30 September 2022
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 22 February 2024
Mr T L Sheikh
Director
Company registration number 08689054 (England and Wales)
TARIQ HALAL MEAT (HOUNSLOW) LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2022
- 3 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 October 2020
100
(250,312)
(250,212)
Year ended 30 September 2021:
Profit and total comprehensive income
-
4,408
4,408
Balance at 30 September 2021
100
(245,904)
(245,804)
Year ended 30 September 2022:
Loss and total comprehensive income
-
(102,366)
(102,366)
Balance at 30 September 2022
100
(348,270)
(348,170)
TARIQ HALAL MEAT (HOUNSLOW) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
- 4 -
1
Accounting policies
Company information

Tariq Halal Meat (Hounslow) Ltd is a private company limited by shares incorporated in England and Wales. The registered office is , 555-557, Cranbrook Road, Ilford, United Kingdom, IG2 6HE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for meat retail provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
Straight line over the term of the lease
Plant and Machinery
15% reducing balance
Fixtures and fittings and equipment
15% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises of raw meat products.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

TARIQ HALAL MEAT (HOUNSLOW) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2022
1
Accounting policies
(Continued)
- 5 -
1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents deferred tax.

TARIQ HALAL MEAT (HOUNSLOW) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2022
1
Accounting policies
(Continued)
- 6 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.13
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2022
2021
Number
Number
Total
5
4
TARIQ HALAL MEAT (HOUNSLOW) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2022
- 7 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 October 2021
24,693
262,053
286,746
Additions
-
0
475
475
At 30 September 2022
24,693
262,528
287,221
Depreciation and impairment
At 1 October 2021
12,208
182,207
194,415
Depreciation charged in the year
1,646
12,048
13,694
At 30 September 2022
13,854
194,255
208,109
Carrying amount
At 30 September 2022
10,839
68,273
79,112
At 30 September 2021
12,485
79,846
92,331
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Other debtors
63,076
65,248
5
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans
9,822
10,000
Trade creditors
434,314
328,192
Corporation tax
200
200
Other taxation and social security
(103)
-
0
Other creditors
13,386
17,200
457,619
355,592
6
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
27,392
36,667
Other creditors
16,813
16,813
44,205
53,480
TARIQ HALAL MEAT (HOUNSLOW) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2022
- 8 -
7
Loans and overdrafts
2022
2021
£
£
Bank loans
37,214
46,667
Payable within one year
9,822
10,000
Payable after one year
27,392
36,667
8
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
100
100
100
100
9
Financial commitments, guarantees and contingent liabilities

At the year end, the company has outstanding commitments for lease payments amounting to £78,562 (2021 - £103,333 ).

10
Related party transactions
2022
2021
Amounts due to related parties
£
£
Other related parties
24,413
15,181

These unsecured loans are free of any interest charge and without any repayment terms.

2022
2021
Amounts due from related parties
£
£
Other related parties
45,000
45,000

These unsecured loans are free of any interest charge and without any repayment terms.

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