Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 02591608 Mr Karim Rashid Mrs Margaret Rashid Mr Karim Rashid true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02591608 2022-12-31 02591608 2023-12-31 02591608 2023-01-01 2023-12-31 02591608 frs-core:Non-currentFinancialInstruments 2023-12-31 02591608 frs-core:FurnitureFittings 2023-01-01 2023-12-31 02591608 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02591608 frs-core:PlantMachinery 2023-01-01 2023-12-31 02591608 frs-core:ShareCapital 2023-12-31 02591608 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 02591608 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02591608 frs-bus:AbridgedAccounts 2023-01-01 2023-12-31 02591608 frs-bus:SmallEntities 2023-01-01 2023-12-31 02591608 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 02591608 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 02591608 1 2023-01-01 2023-12-31 02591608 frs-bus:Director1 2023-01-01 2023-12-31 02591608 frs-bus:Director1 2022-12-31 02591608 frs-bus:Director1 2023-12-31 02591608 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 02591608 frs-countries:EnglandWales 2023-01-01 2023-12-31 02591608 2021-12-31 02591608 2022-12-31 02591608 2022-01-01 2022-12-31 02591608 frs-core:Non-currentFinancialInstruments 2022-12-31 02591608 frs-core:ShareCapital 2022-12-31 02591608 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 02591608
K & M Rashid Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 December 2023
PPR Associates Ltd
77/77a High Street
South Normanton
Alfreton
Derbyshire
DE55 2BP
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: 02591608
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,935,323 2,084,512
1,935,323 2,084,512
CURRENT ASSETS
Stocks 188,733 157,907
Debtors 5 746,770 751,225
Cash at bank and in hand 1,471,661 1,261,761
2,407,164 2,170,893
Creditors: Amounts Falling Due Within One Year (554,506 ) (544,117 )
NET CURRENT ASSETS (LIABILITIES) 1,852,658 1,626,776
TOTAL ASSETS LESS CURRENT LIABILITIES 3,787,981 3,711,288
Creditors: Amounts Falling Due After More Than One Year (950,550 ) (1,167,498 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 7 (154,560 ) (145,418 )
NET ASSETS 2,682,871 2,398,372
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 2,682,869 2,398,370
SHAREHOLDERS' FUNDS 2,682,871 2,398,372
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For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 December 2023 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Karim Rashid
Director
3rd September 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Abridged Financial Statements
1. General Information
K & M Rashid Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02591608 . The registered office is 10 Beaumaris Grove, Shenley Church End, Milton Keynes, MK5 6EN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 0% on reducing balance
Plant & Machinery 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
2.4. Investment Properties
It is the company policy not to provide depreciation on freehold property. The property is maintained to a high standard and the director considers the residual value, based on prices prevailing at the time of acquisition are as such that depreciation is not significant.
2.5. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
2.6. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 4 4
Sales, marketing and distribution 22 19
26 23
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4. Tangible Assets
Total
£
Cost
As at 1 January 2023 2,919,413
Additions 53,675
Disposals (53,457 )
As at 31 December 2023 2,919,631
Depreciation
As at 1 January 2023 834,901
Provided during the period 195,226
Disposals (45,819 )
As at 31 December 2023 984,308
Net Book Value
As at 31 December 2023 1,935,323
As at 1 January 2023 2,084,512
The land and building represents freehold land and buildings of the company's petrol filing station and related
facilities. The freehold interest held within the site is in the director's opinion worth in excess of £1,900,000 as at
the balance sheet date. In the opinion of the director, the land and buildings should be included in the accounts at
cost.
5. Debtors
2023 2022
£ £
Due after more than one year
Other debtors 500,000 500,000
6. Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured.
The loans are secured by a legal charge over the freehold land and property known as Frilford Service Station
and all other assets thereof.
2023 2022
£ £
Bank loans and overdrafts 1,168,358 1,385,306
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7. Deferred Taxation
The provision for deferred tax is made up as follows:
2023 2022
£ £
Other timing differences 154,560 145,418
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Mr Karim Rashid 38,996 21,860 21,860 - 38,996
The above loan is unsecured, interest free and repayable on demand.
10. Related Party Transactions
CSK Retail LimitedCSK Retail Limited is a company wholly owned by the shareholders.The company has loaned monies for cashflow purposes to CSK Retail Limited. The balance is included within other debtors. At the balance sheet date the amount outstanding was £100,000 (2022 £100,000).

CSK Retail Limited

CSK Retail Limited is a company wholly owned by the shareholders.

The company has loaned monies for cashflow purposes to CSK Retail Limited. The balance is included within other debtors. At the balance sheet date the amount outstanding was £100,000 (2022 £100,000).

Mrs M RashidMrs M Rashid is a shareholder of the company.The company has loaned monies to Mrs M Rashid. The balance is included within other debtors. At the balance sheet date the amount outstanding was £38,996 (2022 £38,996).

Mrs M Rashid

Mrs M Rashid is a shareholder of the company.

The company has loaned monies to Mrs M Rashid. The balance is included within other debtors. At the balance sheet date the amount outstanding was £38,996 (2022 £38,996).

KBS Retail LimitedKBS Retail Limited is a company wholly owned by the shareholders.The company has loaned monies for cashflow purposes to KBS Retail Limited. The balance is included within other debtors. At the balance sheet date the amount outstanding was £500,000 (2022 £500,000).

KBS Retail Limited

KBS Retail Limited is a company wholly owned by the shareholders.

The company has loaned monies for cashflow purposes to KBS Retail Limited. The balance is included within other debtors. At the balance sheet date the amount outstanding was £500,000 (2022 £500,000).

11. Ultimate Controlling Party
The company's ultimate controlling party is Mr Karim Rashid by virtue of his ownership of 50% of the issued share capital in the company.
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