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REGISTERED NUMBER: SC448534 (Scotland)















Unaudited Financial Statements For The Year Ended 31 July 2023

for

Ashraf Grocers Ltd

Ashraf Grocers Ltd (Registered number: SC448534)






Contents of the Financial Statements
For The Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ashraf Grocers Ltd

Company Information
For The Year Ended 31 July 2023







DIRECTORS: M Ashraf
R Ashraf
R Ashraf
U Ashraf





REGISTERED OFFICE: 39 HIgh Street
Arbroath
DD11 1AN





REGISTERED NUMBER: SC448534 (Scotland)





ACCOUNTANTS: Ahmad & Nabi Mcmullan
95-107 Lancefield Street
Glasgow
Lanarkshire
G3 8HZ

Ashraf Grocers Ltd (Registered number: SC448534)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 85,250 85,250
Tangible assets 5 59,592 59,592
144,842 144,842

CURRENT ASSETS
Stocks 6 - 83,450
Cash at bank and in hand 37,155 37,155
37,155 120,605
CREDITORS
Amounts falling due within one year 7 40,871 40,871
NET CURRENT (LIABILITIES)/ASSETS (3,716 ) 79,734
TOTAL ASSETS LESS CURRENT
LIABILITIES

141,126

224,576

CREDITORS
Amounts falling due after more than one
year

8

592

592
NET ASSETS 140,534 223,984

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 9 140,434 223,884
SHAREHOLDERS' FUNDS 140,534 223,984

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Ashraf Grocers Ltd (Registered number: SC448534)

Balance Sheet - continued
31 July 2023


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by:





M Ashraf - Director


Ashraf Grocers Ltd (Registered number: SC448534)

Notes to the Financial Statements
For The Year Ended 31 July 2023

1. STATUTORY INFORMATION

Ashraf Grocers Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Ashraf Grocers Ltd (Registered number: SC448534)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 85,250
NET BOOK VALUE
At 31 July 2023 85,250
At 31 July 2022 85,250

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 August 2022
and 31 July 2023 169,035 22,163 191,198
DEPRECIATION
At 1 August 2022
and 31 July 2023 127,173 4,433 131,606
NET BOOK VALUE
At 31 July 2023 41,862 17,730 59,592
At 31 July 2022 41,862 17,730 59,592

6. STOCKS
31.7.23 31.7.22
£    £   
Stocks - 83,450

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Ashraf Properties Ltd 9,980 9,980
Hire purchase contracts 7,099 7,099
Social security and other taxes 182 182
VAT 11,925 11,925
Director's loan acc 3,899 3,899
Accrued expenses 7,786 7,786
40,871 40,871

Ashraf Grocers Ltd (Registered number: SC448534)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Hire purchase contracts 592 592

Amounts falling due in more than five years:

Repayable by instalments
Hire purchase 592 592

9. RESERVES
Retained
earnings
£   

At 1 August 2022 223,884
Deficit for the year (83,450 )
At 31 July 2023 140,434