Registered number
03440370
ALI LEATHER WEAR LTD
Filleted Accounts
30 September 2023
ALI LEATHER WEAR LTD
Registered number: 03440370
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 258,401 258,481
Current assets
Cash at bank and in hand 56,441 33,689
Creditors: amounts falling due within one year 4 (15,022) (16,621)
Net current assets 41,419 17,068
Total assets less current liabilities 299,820 275,549
Creditors: amounts falling due after more than one year 5 (6,707) (10,718)
Net assets 293,113 264,831
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 292,113 263,831
Shareholders' funds 293,113 264,831
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr B Ali
Director
Approved by the board on 16 September 2024
ALI LEATHER WEAR LTD
Notes to the Accounts
for the year ended 30 September 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings Not depreciated
Plant and machinery 20% WDV
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 October 2022 258,025 20,588 278,613
At 30 September 2023 258,025 20,588 278,613
Depreciation
At 1 October 2022 - 20,132 20,132
Charge for the year - 80 80
At 30 September 2023 - 20,212 20,212
Net book value
At 30 September 2023 258,025 376 258,401
At 30 September 2022 258,025 456 258,481
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 3,960 3,960
Taxation and social security costs 10,643 11,458
Other creditors 419 1,203
15,022 16,621
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 6,707 10,718
6 Controlling party
Mr B Ali is the ultimate controlling party.
7 Other information
ALI LEATHER WEAR LTD is a private company limited by shares and incorporated in England. Its registered office is:
Argyle House
3rd Floor, Northside
Joel Street, Northwood Hills
Middlesex
HA6 1NW
ALI LEATHER WEAR LTD 03440370 false 2022-10-01 2023-09-30 2023-09-30 VT Final Accounts July 2024 Mr B Ali No description of principal activity 03440370 2021-10-01 2022-09-30 03440370 core:WithinOneYear 2022-09-30 03440370 core:AfterOneYear 2022-09-30 03440370 core:ShareCapital 2022-09-30 03440370 core:RetainedEarningsAccumulatedLosses 2022-09-30 03440370 2022-10-01 2023-09-30 03440370 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 03440370 bus:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 03440370 bus:Director40 2022-10-01 2023-09-30 03440370 1 2022-10-01 2023-09-30 03440370 2 2022-10-01 2023-09-30 03440370 core:LandBuildings 2022-10-01 2023-09-30 03440370 core:PlantMachinery 2022-10-01 2023-09-30 03440370 countries:England 2022-10-01 2023-09-30 03440370 bus:FRS102 2022-10-01 2023-09-30 03440370 bus:FilletedAccounts 2022-10-01 2023-09-30 03440370 2023-09-30 03440370 core:WithinOneYear 2023-09-30 03440370 core:AfterOneYear 2023-09-30 03440370 core:ShareCapital 2023-09-30 03440370 core:RetainedEarningsAccumulatedLosses 2023-09-30 03440370 core:LandBuildings 2023-09-30 03440370 core:PlantMachinery 2023-09-30 03440370 2022-09-30 03440370 core:LandBuildings 2022-09-30 03440370 core:PlantMachinery 2022-09-30 iso4217:GBP xbrli:pure