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REGISTERED NUMBER: 02173471 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Ruhi Enterprises Limited

Ruhi Enterprises Limited (Registered number: 02173471)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Ruhi Enterprises Limited

Company Information
for the Year Ended 29 February 2024







DIRECTOR: H Popat





REGISTERED OFFICE: Unit 13 Iron Bridge Close
Great Central Way
London
NW10 0UF





REGISTERED NUMBER: 02173471 (England and Wales)





ACCOUNTANTS: Preston Accountants Limited.
Chartered Certified Accountants
1 Carlton Parade
Preston Road
Wembley
Middlesex
HA9 8NE

Ruhi Enterprises Limited (Registered number: 02173471)

Statement of Financial Position
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 20,882 25,070

CURRENT ASSETS
Inventories 852,318 956,424
Debtors 5 2,169,986 2,831,794
Cash at bank 4,007,127 3,520,780
7,029,431 7,308,998
CREDITORS
Amounts falling due within one year 6 1,140,138 1,112,412
NET CURRENT ASSETS 5,889,293 6,196,586
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,910,175

6,221,656

PROVISIONS FOR LIABILITIES 3,967 4,763
NET ASSETS 5,906,208 6,216,893

CAPITAL AND RESERVES
Called up share capital 7 100,000 100,000
Retained earnings 5,806,208 6,116,893
SHAREHOLDERS' FUNDS 5,906,208 6,216,893

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Ruhi Enterprises Limited (Registered number: 02173471)

Statement of Financial Position - continued
29 February 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 October 2024 and were signed by:





H Popat - Director


Ruhi Enterprises Limited (Registered number: 02173471)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Ruhi Enterprises Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 20% on reducing balance

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. 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 equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Ruhi Enterprises Limited (Registered number: 02173471)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 March 2023 56,165 94,081 150,246
Additions - 565 565
At 29 February 2024 56,165 94,646 150,811
DEPRECIATION
At 1 March 2023 48,680 76,496 125,176
Charge for year 1,123 3,630 4,753
At 29 February 2024 49,803 80,126 129,929
NET BOOK VALUE
At 29 February 2024 6,362 14,520 20,882
At 28 February 2023 7,485 17,585 25,070

5. DEBTORS
29.2.24 28.2.23
£    £   
Amounts falling due within one year:
Trade debtors 1,671,014 1,882,053
Other debtors 14,585 69,808
VAT 2,758 32,601
Prepayments 460,196 825,899
2,148,553 2,810,361

Amounts falling due after more than one year:
Dutch VAT deposit 21,433 21,433

Aggregate amounts 2,169,986 2,831,794

Ruhi Enterprises Limited (Registered number: 02173471)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts - 240
Trade creditors 186,911 177,150
Tax (295 ) 90,214
Social security and other taxes 3,713 2,030
Other creditors 853,787 730,563
Net Wages - 1,622
Pension Fund 217 237
Directors' current accounts 25,069 13,777
Accruals and deferred income 70,736 96,579
1,140,138 1,112,412

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
100,000 Ordinary 1 100,000 100,000

8. OTHER FINANCIAL COMMITMENTS

The company has an overdraft facility of £300,000. This is secured by the following:
£100,000 guaranteed by Hitesh Popat Unlimited Guarantee held by Holdview Properties supported by 1st Legal charge of the freehold property at unit 13 Export House.
Debenture charge held by the company and guaranteed for £50,000 by Hitesh Popat.

9. SHIFT IN SALES FOCUS

The company has recently shifted its trading strategy, resulting in a significant transition from UK sales to overseas sales. This strategic move aims to increase our presence in international markets, which is expected to have a positive impact on the company's overall growth. Going forward, the focus will be more towards expanding overseas sales, in line with our long-term objectives.This change is beneficial for the company and is in alignment with our broader global expansion goals.