1 September 2022 false No description of principal activity Taxfiler 2024.5 9737914business:PrivateLimitedCompanyLtd2022-09-012023-08-31 97379142022-08-31 97379142022-09-012023-08-31 9737914business:AuditExemptWithAccountantsReport2022-09-012023-08-31 9737914business:FilletedAccounts2022-09-012023-08-31 97379142023-08-31 9737914business:Director12022-09-012023-08-31 9737914business:RegisteredOffice2022-09-012023-08-31 97379142022-08-31 9737914core:WithinOneYear2023-08-31 9737914core:WithinOneYear2022-08-31 9737914core:AfterOneYear2023-08-31 9737914core:AfterOneYear2022-08-31 9737914core:ShareCapitalcore:PreviouslyStatedAmount2023-08-31 9737914core:ShareCapitalcore:PreviouslyStatedAmount2022-08-31 9737914core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-08-31 9737914core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-08-31 9737914core:PreviouslyStatedAmount2023-08-31 9737914core:PreviouslyStatedAmount2022-08-31 9737914business:SmallEntities2022-09-012023-08-31 9737914countries:EnglandWales2022-09-012023-08-31 9737914core:MotorVehicles2022-09-012023-08-31 9737914core:MotorVehicles2022-08-31 9737914core:MotorVehicles2023-08-31 97379142021-09-012022-08-31 iso4217:GBP xbrli:pure
Company Registration No. 9737914 (England and Wales)
ORIENTAL TRADE LTD Unaudited accounts for the year ended 31 August 2023
ORIENTAL TRADE LTD Unaudited accounts Contents
Page
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ORIENTAL TRADE LTD Company Information for the year ended 31 August 2023
Director
Mohamad Firas ALRAWI
Company Number
9737914 (England and Wales)
Registered Office
64A ROSEVILLE ROAD LEEDS LS8 5DR ENGLAND
Accountants
HLA Accountants 21 Hyde Park Road Leeds West Yorkshire LS6 1PY
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ORIENTAL TRADE LTD Statement of financial position as at 31 August 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
720 
960 
Current assets
Inventories
187,251 
140,251 
Debtors
14,988 
7,536 
Cash at bank and in hand
6,292 
16,722 
208,531 
164,509 
Creditors: amounts falling due within one year
(158,363)
(134,194)
Net current assets
50,168 
30,315 
Total assets less current liabilities
50,888 
31,275 
Creditors: amounts falling due after more than one year
(19,447)
(21,633)
Net assets
31,441 
9,642 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
31,341 
9,542 
Shareholders' funds
31,441 
9,642 
For the year ending 31 August 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 director acknowledges his 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 and authorised for issue on 15 May 2024 and were signed on its behalf by
Mohamad Firas ALRAWI Director Company Registration No. 9737914
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ORIENTAL TRADE LTD Notes to the Accounts for the year ended 31 August 2023
1
Statutory information
ORIENTAL TRADE LTD is a private company, limited by shares, registered in England and Wales, registration number 9737914. The registered office is 64A ROSEVILLE ROAD, LEEDS, LS8 5DR, 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:
Motor vehicles
25% reducing balance method.
Government grants
Government grants in relation to job retention scheme and local council are credited to profit and loss, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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ORIENTAL TRADE LTD Notes to the Accounts for the year ended 31 August 2023
4
Tangible fixed assets
Motor vehicles 
£ 
Cost or valuation
At cost 
At 1 September 2022
7,194 
At 31 August 2023
7,194 
Depreciation
At 1 September 2022
6,234 
Charge for the year
240 
At 31 August 2023
6,474 
Net book value
At 31 August 2023
720 
At 31 August 2022
960 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
14,988 
7,536 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
(36)
2,772 
Trade creditors
129,847 
129,847 
Taxes and social security
12,253 
1,575 
Loans from directors
16,299 
- 
158,363 
134,194 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
19,447 
21,633 
8
Transactions with related parties
The company was under the control of Mr Ammari throughout the current year. Mr Ammari is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed.
9
Average number of employees
During the year the average number of employees was 4 (2022: 3).
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