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Company registration number: 11478575
AR FOODS DISTRIBUTION LIMITED
Unaudited filleted financial statements
31 July 2024
AR FOODS DISTRIBUTION LIMITED
Contents
Directors and other information
Director's report
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
AR FOODS DISTRIBUTION LIMITED
Directors and other information
Director Mr Malik Muhammad Habib-ur-Rahman
Company number 11478575
Registered office 49 Whitebrook Road
Manchester
M14 6EF
Business address 49 Whitebrook Road
Manchester
M14 6EF
Accountants STERLING WISE
Chartered Certified Accountants
85 Lynton Avenue
London
NW9 6PB
Bankers Lloyds Bank
HSBC Bank
AR FOODS DISTRIBUTION LIMITED
Director's report
Year ended 31 July 2024
The director presents his report and the unaudited financial statements of the company for the year ended 31 July 2024.
Director
The director who served the company during the year was as follows:
Mr Malik Muhammad Habib-ur-Rahman
Dividends
Particulars of recommended dividends are detailed in note 5 to the unaudited financial statements.
Director's responsibilities statement
The director is responsible for preparing the director's report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the director is required to:
- select suitable accounting policies and then apply them consistently;
- make judgments and accounting estimates that are reasonable and prudent; and
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 12 September 2024 and signed on behalf of the board by:
Mr Malik Muhammad Habib-ur-Rahman
Director
AR FOODS DISTRIBUTION LIMITED
Report to the director on the preparation of the
unaudited statutory financial statements of AR FOODS DISTRIBUTION LIMITED
Year ended 31 July 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of AR FOODS DISTRIBUTION LIMITED for the year ended 31 July 2024 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the director of AR FOODS DISTRIBUTION LIMITED, as a body, in accordance with the terms of our engagement letter dated 23 July 2018. Our work has been undertaken solely to prepare for your approval the financial statements of AR FOODS DISTRIBUTION LIMITED and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than AR FOODS DISTRIBUTION LIMITED and its director as a body for our work or for this report.
It is your duty to ensure that AR FOODS DISTRIBUTION LIMITED has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of AR FOODS DISTRIBUTION LIMITED. You consider that AR FOODS DISTRIBUTION LIMITED is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of AR FOODS DISTRIBUTION LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
STERLING WISE
Chartered Certified Accountants
85 Lynton Avenue
London
NW9 6PB
12 September 2024
AR FOODS DISTRIBUTION LIMITED
Statement of financial position
31 July 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 6 51,051 25,356
_______ _______
51,051 25,356
Current assets
Stocks 50,194 38,798
Debtors 7 173,133 135,531
Cash at bank and in hand 27,576 29,006
_______ _______
250,903 203,335
Creditors: amounts falling due
within one year 8 ( 244,852) ( 200,460)
_______ _______
Net current assets 6,051 2,875
_______ _______
Total assets less current liabilities 57,102 28,231
Creditors: amounts falling due
after more than one year 9 ( 6,816) ( 27,599)
Provisions for liabilities ( 9,390) -
_______ _______
Net assets 40,896 632
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 40,796 532
_______ _______
Shareholders funds 40,896 632
_______ _______
For the year ending 31 July 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 financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 12 September 2024 , and are signed on behalf of the board by:
Mr Malik Muhammad Habib-ur-Rahman
Director
Company registration number: 11478575
AR FOODS DISTRIBUTION LIMITED
Statement of changes in equity
Year ended 31 July 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 August 2022 100 203 303
Profit for the year 57,329 57,329
_______ _______ _______
Total comprehensive income for the year - 57,329 57,329
Dividends paid and payable ( 57,000) ( 57,000)
_______ _______ _______
Total investments by and distributions to owners - ( 57,000) ( 57,000)
_______ _______ _______
At 31 July 2023 and 1 August 2023 100 532 632
Profit for the year 90,264 90,264
_______ _______ _______
Total comprehensive income for the year - 90,264 90,264
Dividends paid and payable ( 50,000) ( 50,000)
_______ _______ _______
Total investments by and distributions to owners - ( 50,000) ( 50,000)
_______ _______ _______
At 31 July 2024 100 40,796 40,896
_______ _______ _______
AR FOODS DISTRIBUTION LIMITED
Notes to the financial statements
Year ended 31 July 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 49 Whitebrook Road, Manchester, M14 6EF.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
Company Accounts have been prepared on going concern basis
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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 measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 33 % reducing balance
Motor vehicles - 20 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Staff costs
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
The aggregate payroll costs incurred during the year were:
2024 2023
£ £
Wages and salaries 142,873 110,136
Other pension costs 986 706
_______ _______
143,859 110,842
_______ _______
5. Dividends
Equity dividends
2024 2023
£ £
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year) 50,000 57,000
_______ _______
6. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 August 2023 833 739 55,615 57,187
Additions - 669 37,912 38,581
_______ _______ _______ _______
At 31 July 2024 833 1,408 93,527 95,768
_______ _______ _______ _______
Depreciation
At 1 August 2023 167 639 31,024 31,830
Charge for the year 133 253 12,501 12,887
_______ _______ _______ _______
At 31 July 2024 300 892 43,525 44,717
_______ _______ _______ _______
Carrying amount
At 31 July 2024 533 516 50,002 51,051
_______ _______ _______ _______
At 31 July 2023 666 100 24,591 25,357
_______ _______ _______ _______
7. Debtors
2024 2023
£ £
Trade debtors 165,939 99,421
Other debtors 7,194 36,110
_______ _______
173,133 135,531
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 13,754 -
Trade creditors 105,103 183,244
Corporation tax 21,253 15,380
Social security and other taxes 387 516
Other creditors 104,355 1,320
_______ _______
244,852 200,460
_______ _______
9. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 6,816 27,599
_______ _______
10. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2024 2023
£ £
Included in provisions (note ) 9,390 -
_______ _______
The deferred tax account consists of the tax effect of timing differences in respect of:
2024 2023
£ £
11. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Mr Malik Muhammad Habib-ur-Rahman 36,110 ( 33,843) 2,267
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Mr Malik Muhammad Habib-ur-Rahman ( 35,128) 71,239 36,111
_______ _______ _______