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Filleted
Registration number: 10097099

Avicenna Herbal Products Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Avicenna Herbal Products Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Avicenna Herbal Products Ltd

Company Information

Director

Youssef Izzat Nasr

Registered office

Bidarren
Cilcennin
Lampeter
Ceredigion
SA48 8RL

Accountants

LHP (Aberaeron)
Chartered Certified Accountants
1 North Road
Aberaeron
Ceredigion
SA46 0JD

 

Avicenna Herbal Products Ltd

(Registration number: 10097099)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

249,806

246,849

Current assets

 

Stocks

5

35,000

35,000

Debtors

6

162,265

109,875

Cash at bank and in hand

 

408,979

552,956

 

606,244

697,831

Creditors: Amounts falling due within one year

7

(94,364)

(137,684)

Net current assets

 

511,880

560,147

Total assets less current liabilities

 

761,686

806,996

Creditors: Amounts falling due after more than one year

7

(45,845)

(95,850)

Provisions for liabilities

(27,442)

(46,700)

Net assets

 

688,399

664,446

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

688,299

664,346

Shareholders' funds

 

688,399

664,446

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 5 August 2024
 

 

Avicenna Herbal Products Ltd

(Registration number: 10097099)
Balance Sheet as at 31 March 2024

.........................................
Youssef Izzat Nasr
Director

   
     
 

Avicenna Herbal Products Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in Wales.

The address of its registered office is:
Bidarren
Cilcennin
Lampeter
Ceredigion
SA48 8RL

These financial statements were authorised for issue by the director on 5 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Avicenna Herbal Products Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Property improvements

10% reducing balance

Fixtures and fittings

20% reducing balance

Plant and machinery

20% reducing balance

Office equipment

20% reducing balance

Motor vehicles

20% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 12 (2023 - 12).

 

Avicenna Herbal Products Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Property Improvements
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Cost or valuation

At 1 April 2023

104,880

91,768

325,318

32,094

Additions

52,332

1,563

4,710

3,575

At 31 March 2024

157,212

93,331

330,028

35,669

Depreciation

At 1 April 2023

29,867

56,425

209,530

18,437

Charge for the year

22,886

7,381

24,100

3,446

At 31 March 2024

52,753

63,806

233,630

21,883

Carrying amount

At 31 March 2024

104,459

29,525

96,398

13,786

At 31 March 2023

75,013

35,343

115,788

13,657

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

31,745

585,805

Additions

-

62,180

At 31 March 2024

31,745

647,985

Depreciation

At 1 April 2023

24,697

338,956

Charge for the year

1,410

59,223

At 31 March 2024

26,107

398,179

Carrying amount

At 31 March 2024

5,638

249,806

At 31 March 2023

7,048

246,849

5

Stocks

2024
£

2023
£

Other inventories

35,000

35,000

 

Avicenna Herbal Products Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

66,614

62,724

Prepayments

95,651

47,151

 

162,265

109,875

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

25,692

19,840

Taxation and social security

 

19,141

30,658

Other related parties

 

-

33,187

Other creditors

 

5,024

5,024

Corporation tax liability

 

44,507

48,975

 

94,364

137,684

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

45,845

95,850

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

       

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

45,845

95,850