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REGISTERED NUMBER: 06505358 (England and Wales)












GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

A & J AUDHALI ENTERPRISES LIMITED

A & J AUDHALI ENTERPRISES LIMITED (REGISTERED NUMBER: 06505358)






CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
for the year ended 31 January 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Consolidated Income Statement 8

Consolidated Other Comprehensive Income 9

Consolidated Balance Sheet 10

Company Balance Sheet 11

Consolidated Statement of Changes in Equity 12

Company Statement of Changes in Equity 13

Consolidated Cash Flow Statement 14

Notes to the Consolidated Cash Flow Statement 15

Notes to the Consolidated Financial Statements 16


A & J AUDHALI ENTERPRISES LIMITED

COMPANY INFORMATION
for the year ended 31 January 2024







DIRECTORS: A A Audhali
J A Audhali



REGISTERED OFFICE: Highdown House
11 Highdown Road
Leamington Spa
Warwickshire
CV31 1XT



REGISTERED NUMBER: 06505358 (England and Wales)



AUDITORS: Harrison Beale & Owen Limited
Chartered Accountants and Statutory Auditor
Highdown House
11 Highdown Road
Leamington Spa
Warwickshire
CV31 1XT



BANKERS: Lloyds Bank plc
12 Swan Street
Warwick
CV34 4BJ

A & J AUDHALI ENTERPRISES LIMITED (REGISTERED NUMBER: 06505358)

GROUP STRATEGIC REPORT
for the year ended 31 January 2024

The directors present their strategic report of the company and the group for the year ended 31 January 2024.

REVIEW OF BUSINESS
During the year the group's turnover increased by 12% from £27,195,212 to £30,356,058 and a profit before taxation of £2,878,445 (2023: £2,106,057) was achieved.

Shareholders' funds at 31 January 2024 amounted to £7,261,647 (2023: £6,859,521). The directors consider the state of affairs of the company and group to be satisfactory.

PRINCIPAL RISKS AND UNCERTAINTIES
The company's and group's principal exposure to risks are through pricing volatility, both as a result of changes in prices of products and through exchange rate fluctuations, as management are in part reliant on suppliers based overseas.

Management are mindful of these key risks to the business and have adopted strategies, which include: continued scrutiny of pricing and rates of exchange; sourcing of product from various suppliers; and management of the purchase cycle.

Management also acknowledge exposure to interest rate and credit risks and these are also assessed continuously in order to minimise their impact.

FUTURE DEVELOPMENTS

Continued impact of Brexit
The directors are again pleased at how well the company and group have been able to trade throughout 2023/24, when the impact of Brexit continued to be felt across the UK.

Given how well the company and group have managed to trade during this period, the directors are confident that the company and group will still be profitable in the forthcoming 12 months and beyond although, even now, some uncertainties persist.

The directors are still mindful of the impact of the UK's exit from the European Union and these associated risks have been embedded into the company's and group's risk assessments. Nevertheless, the impact of "Brexit" is still being felt across the sector with supply lead times throughout 2023/24 continuing to be the most acute of the limiting factors on trading. However, the directors believe the company and group are relatively insulated in the medium term against this and the other risks related to "Brexit" as the company and group overwhelmingly trade in the UK and have strong and well established supply links with their suppliers and manufacturers, some of who are in the European Union.

As such, the directors believe the company and the group to be a going concern and have adopted this assumption in preparing the financial statements, having considered any material uncertainties in this regard for a period of at least 12 months from the date of approval of these financial statements.

ON BEHALF OF THE BOARD:





J A Audhali - Director


25 September 2024

A & J AUDHALI ENTERPRISES LIMITED (REGISTERED NUMBER: 06505358)

REPORT OF THE DIRECTORS
for the year ended 31 January 2024

The directors present their report with the financial statements of the company and the group for the year ended 31 January 2024.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of meat wholesalers to the catering industry.

DIVIDENDS
The total distribution of dividends for the year ended 31 January 2024 for the parent company will be £1,642,896.

The total distribution of dividends for the year ended 31 January 2024 for the subsidiary company will be £75,071.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 February 2023 to the date of this report.

A A Audhali
J A Audhali

DISCLOSURE IN THE STRATEGIC REPORT
The group's review of business, principal risks and uncertainties and future developments are disclosed within the strategic report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have 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 directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

A & J AUDHALI ENTERPRISES LIMITED (REGISTERED NUMBER: 06505358)

REPORT OF THE DIRECTORS
for the year ended 31 January 2024


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

ON BEHALF OF THE BOARD:





J A Audhali - Director


25 September 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
A & J AUDHALI ENTERPRISES LIMITED

Opinion
We have audited the financial statements of A & J Audhali Enterprises Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 January 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 January 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
A & J AUDHALI ENTERPRISES LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The audit process includes an assessment of the company's and the group's risk environment, through enquiry of and discussion with management, including an assessment of any key laws and regulations with which the company and group must comply in the ordinary course of its business.

Additionally, the overall risks of irregular transactions occurring are assessed following our observations and confirmation of the design and implementation of management's controls. Whilst we are mindful of these risks, our audit focus is geared towards the risk of material misstatement in the financial statements as a whole.

As such, our procedures cannot guarantee that all transactions have been fully compliant with all relevant laws and regulations, including those regulations relating to fraud, as our procedures are not designed to detect all instances of non-compliance. By definition, the risk of our detection of non-compliance is greater where compliance with a law or regulation is removed from the events and transactions reflected in the financial statements. The risk is also greater regarding irregularities due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
A & J AUDHALI ENTERPRISES LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Mark Ashfield BA FCA (Senior Statutory Auditor)
for and on behalf of Harrison Beale & Owen Limited
Chartered Accountants and Statutory Auditor
Highdown House
11 Highdown Road
Leamington Spa
Warwickshire
CV31 1XT

25 September 2024

A & J AUDHALI ENTERPRISES LIMITED (REGISTERED NUMBER: 06505358)

CONSOLIDATED
INCOME STATEMENT
for the year ended 31 January 2024

2024 2023
Notes £    £   

TURNOVER 3 30,356,058 27,195,212

Cost of sales 25,579,574 23,183,077
GROSS PROFIT 4,776,484 4,012,135

Administrative expenses 2,029,549 1,930,121
2,746,935 2,082,014

Other operating income 25,349 29,432
OPERATING PROFIT 5 2,772,284 2,111,446

Interest receivable and similar income 123,257 6,394
2,895,541 2,117,840

Interest payable and similar expenses 6 17,096 11,783
PROFIT BEFORE TAXATION 2,878,445 2,106,057

Tax on profit 7 724,836 393,333
PROFIT FOR THE FINANCIAL YEAR 2,153,609 1,712,724
Profit attributable to:
Owners of the parent 2,153,609 1,712,724

A & J AUDHALI ENTERPRISES LIMITED (REGISTERED NUMBER: 06505358)

CONSOLIDATED
OTHER COMPREHENSIVE INCOME
for the year ended 31 January 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 2,153,609 1,712,724


OTHER COMPREHENSIVE INCOME
Revaluation of properties - 910,807
Deferred tax (48,131 ) (152,415 )
Income tax relating to components of other
comprehensive income

-

-
OTHER COMPREHENSIVE INCOME
FOR THE YEAR, NET OF INCOME TAX

(48,131

)

758,392
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

2,105,478

2,471,116

Total comprehensive income attributable to:
Owners of the parent 2,105,478 2,471,116

A & J AUDHALI ENTERPRISES LIMITED (REGISTERED NUMBER: 06505358)

CONSOLIDATED BALANCE SHEET
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 10 2,598,977 2,578,361
Investments 11 - 400,000
Investment property 12 - -
2,598,977 2,978,361

CURRENT ASSETS
Stocks 13 645,885 519,646
Debtors 14 1,136,489 1,793,262
Cash at bank 6,231,542 4,525,753
8,013,916 6,838,661
CREDITORS
Amounts falling due within one year 15 2,978,087 2,562,668
NET CURRENT ASSETS 5,035,829 4,275,993
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,634,806

7,254,354

CREDITORS
Amounts falling due after more than one
year

16

(43,672

)

(133,386

)

PROVISIONS FOR LIABILITIES 19 (344,102 ) (261,447 )
NET ASSETS 7,247,032 6,859,521

CAPITAL AND RESERVES
Called up share capital 20 200 200
Revaluation reserve 21 710,261 758,392
Retained earnings 21 6,536,571 6,100,929
SHAREHOLDERS' FUNDS 7,247,032 6,859,521

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2024 and were signed on its behalf by:





J A Audhali - Director


A & J AUDHALI ENTERPRISES LIMITED (REGISTERED NUMBER: 06505358)

COMPANY BALANCE SHEET
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 10 - -
Investments 11 100 400,100
Investment property 12 2,004,005 2,000,000
2,004,105 2,400,100

CURRENT ASSETS
Debtors 14 182,954 204,838
Cash at bank 489,707 371,347
672,661 576,185
CREDITORS
Amounts falling due within one year 15 40,505 23,212
NET CURRENT ASSETS 632,156 552,973
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,636,261

2,953,073

PROVISIONS FOR LIABILITIES 19 200,546 152,415
NET ASSETS 2,435,715 2,800,658

CAPITAL AND RESERVES
Called up share capital 20 200 200
Revaluation reserve 21 710,261 758,392
Retained earnings 21 1,725,254 2,042,066
SHAREHOLDERS' FUNDS 2,435,715 2,800,658

Company's profit for the financial year 1,326,084 1,034,334

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2024 and were signed on its behalf by:





J A Audhali - Director


A & J AUDHALI ENTERPRISES LIMITED (REGISTERED NUMBER: 06505358)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
for the year ended 31 January 2024

Called up
share Retained Revaluation Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 February 2022 200 4,966,829 - 4,967,029

Changes in equity
Dividends - (578,624 ) - (578,624 )
Total comprehensive income - 1,712,724 758,392 2,471,116
Balance at 31 January 2023 200 6,100,929 758,392 6,859,521

Changes in equity
Dividends - (1,717,967 ) - (1,717,967 )
Total comprehensive income - 2,153,609 (48,131 ) 2,105,478
Balance at 31 January 2024 200 6,536,571 710,261 7,247,032

A & J AUDHALI ENTERPRISES LIMITED (REGISTERED NUMBER: 06505358)

COMPANY STATEMENT OF CHANGES IN EQUITY
for the year ended 31 January 2024

Called up
share Retained Revaluation Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 February 2022 200 1,561,332 - 1,561,532

Changes in equity
Dividends - (553,600 ) - (553,600 )
Total comprehensive income - 1,034,334 758,392 1,792,726
Balance at 31 January 2023 200 2,042,066 758,392 2,800,658

Changes in equity
Dividends - (1,642,896 ) - (1,642,896 )
Total comprehensive income - 1,326,084 (48,131 ) 1,277,953
Balance at 31 January 2024 200 1,725,254 710,261 2,435,715

A & J AUDHALI ENTERPRISES LIMITED (REGISTERED NUMBER: 06505358)

CONSOLIDATED CASH FLOW STATEMENT
for the year ended 31 January 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 2,773,983 2,388,202
Interest paid (6,061 ) -
Interest element of hire purchase payments
paid

(11,035

)

(11,783

)
Tax paid (505,389 ) (350,647 )
Net cash from operating activities 2,251,498 2,025,772

Cash flows from investing activities
Purchase of tangible fixed assets (176,053 ) (171,855 )
Purchase of fixed asset investments - (400,000 )
Sale of tangible fixed assets 25,000 -
Sale of fixed asset investments 409,012 -
Interest received 123,257 6,394
Net cash from investing activities 381,216 (565,461 )

Cash flows from financing activities
Capital repayments in year (123,113 ) (128,894 )
Amount introduced by directors 1,651,155 23,366
Amount withdrawn by directors (737,000 ) (508,484 )
Equity dividends paid (1,717,967 ) (578,624 )
Net cash from financing activities (926,925 ) (1,192,636 )

Increase in cash and cash equivalents 1,705,789 267,675
Cash and cash equivalents at beginning of
year

2

4,525,753

4,258,078

Cash and cash equivalents at end of year 2 6,231,542 4,525,753

A & J AUDHALI ENTERPRISES LIMITED (REGISTERED NUMBER: 06505358)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
for the year ended 31 January 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
2024 2023
£    £   
Profit before taxation 2,878,445 2,106,057
Depreciation charges 143,984 132,764
(Profit)/loss on disposal of fixed assets (22,559 ) 51,201
Finance costs 17,096 11,783
Finance income (123,257 ) (6,394 )
2,893,709 2,295,411
Increase in stocks (126,239 ) (1,356 )
(Increase)/decrease in trade and other debtors (127,516 ) 30,458
Increase in trade and other creditors 134,029 63,689
Cash generated from operations 2,773,983 2,388,202

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 January 2024
31.1.24 1.2.23
£    £   
Cash and cash equivalents 6,231,542 4,525,753
Year ended 31 January 2023
31.1.23 1.2.22
£    £   
Cash and cash equivalents 4,525,753 4,258,078


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.2.23 Cash flow At 31.1.24
£    £    £   
Net cash
Cash at bank 4,525,753 1,705,789 6,231,542
4,525,753 1,705,789 6,231,542
Debt
Finance leases (256,499 ) 123,113 (133,386 )
(256,499 ) 123,113 (133,386 )
Total 4,269,254 1,828,902 6,098,156

A & J AUDHALI ENTERPRISES LIMITED (REGISTERED NUMBER: 06505358)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
for the year ended 31 January 2024

1. STATUTORY INFORMATION

A & J Audhali 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 General 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The accounts have been prepared in accordance with applicable accounting standards. The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year.

Basis of consolidation
The consolidated financial statements incorporate those of A & J Audhali Enterprises Limited and its subsidiary undertaking. All financial statements are made up to 31 January 2024.

Related party exemption
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.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Critical accounting judgements and key sources of estimation uncertainty
The group makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

Accounting estimates:
i) Valuation of property
The directors annually assess the freehold buildings in the group financial statements, which is treated as investment property in the company's financial statements. These annual assessments aim to ensure that property is carried at fair value as defined by FRS 102 and will be informed by latest market data.

As such, property is not depreciated in the group financial statements as its fair value is believed to be the same as, or not materially different to, its residual value.

Accounting judgements:
i) Operating leases
The group utilises assets which it does not own and pays for on an ongoing basis. In making the judgement as to whether such arrangements constitute finance leases or operating leases, management have assessed where the substantial risk and rewards of the ownership of the assets fall, and assessed that the counter-party, rather than the company, bears substantially all of the risks and rewards of ownership of the assets.

A & J AUDHALI ENTERPRISES LIMITED (REGISTERED NUMBER: 06505358)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

2. ACCOUNTING POLICIES - continued

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of returns, rebates, VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods
Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the group and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on delivery of the goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to properties - 10% on reducing balance
Plant & machinery - 10% on reducing balance
Fixtures & fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33.3% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Freehold buildings within the group are not depreciated as the group assesses these annually for fair value and therefore, their residual value is considered to be equal, or at least not materially different, to the carrying value in the financial statements.

Investment property
Investment property is shown at most recent valuation, based upon an annual assessment of fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in the income statement, net of deferred tax.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase and other costs incurred in bringing stock to its present location and condition, including any import costs, duties and carriage.

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, 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 balance sheet date.


A & J AUDHALI ENTERPRISES LIMITED (REGISTERED NUMBER: 06505358)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less impairments.

3. TURNOVER

Turnover is entirely attributable to the one principal activity of the group and the geographical market relates solely to the United Kingdom.

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 910,815 845,250
Social security costs 83,382 83,752
Other pension costs 21,170 15,054
1,015,367 944,056

The average number of employees during the year was as follows:
2024 2023

Warehouse and distribution 24 25
Finance and administration 5 5
Management 2 2
31 32

A & J AUDHALI ENTERPRISES LIMITED (REGISTERED NUMBER: 06505358)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

4. EMPLOYEES AND DIRECTORS - continued

2024 2023
£    £   
Directors' remuneration 24,517 36,470

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Other operating leases 5,626 2,944
Depreciation - owned assets 78,535 41,680
Depreciation - assets on hire purchase contracts 65,449 91,084
(Profit)/loss on disposal of fixed assets (22,559 ) 51,201
Auditors' remuneration 11,675 11,195

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Other interest paid 6,061 -
Hire purchase 11,035 11,783
17,096 11,783

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 690,246 400,432
Corporation tax prior years 66 -
Total current tax 690,312 400,432

Deferred tax 34,524 (7,099 )
Tax on profit 724,836 393,333

UK corporation tax has been charged at 24 % (2023 - 19 %).

A & J AUDHALI ENTERPRISES LIMITED (REGISTERED NUMBER: 06505358)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

7. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 2,878,445 2,106,057
Profit multiplied by the standard rate of corporation tax in the UK of 24 %
(2023 - 19 %)

690,827

400,151

Effects of:
Expenses not deductible for tax purposes 697 854
Income not taxable for tax purposes (5,414 ) -
Capital allowances in excess of depreciation - (573 )
Depreciation in excess of capital allowances 38,660 -
Adjustments to tax charge in respect of previous periods 66 -
Adjustment to deferred tax - (7,099 )
Total tax charge 724,836 393,333

Tax effects relating to effects of other comprehensive income

2024
Gross Tax Net
£    £    £   
Revaluation of properties
Deferred tax (48,131 ) - (48,131 )
(48,131 ) - (48,131 )

2023
Gross Tax Net
£    £    £   
Revaluation of properties 910,807 - 910,807
Deferred tax (152,415 ) - (152,415 )
758,392 - 758,392

During the year the UK corporation tax rate has been charged at 24% (2023: 19%).

From April 2023, the UK corporation tax rate increased from 19% to 25% and is set to remain at 25% for the foreseeable future.

The effective tax rate for the year under review was 24%.

8. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


A & J AUDHALI ENTERPRISES LIMITED (REGISTERED NUMBER: 06505358)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

9. DIVIDENDS
2024 2023
£    £   
Ordinary A shares of £1 each
Interim 1,229,296 -
Ordinary B shares of £1 each
Interim 488,671 578,624
1,717,967 578,624

10. TANGIBLE FIXED ASSETS

Group
Improvements
Freehold to Plant &
buildings properties machinery
£    £    £   
COST OR VALUATION
At 1 February 2023 2,000,000 5,012 433,856
Additions 4,005 - -
Disposals - - -
At 31 January 2024 2,004,005 5,012 433,856
DEPRECIATION
At 1 February 2023 - 501 158,609
Charge for year - 451 27,524
Eliminated on disposal - - -
At 31 January 2024 - 952 186,133
NET BOOK VALUE
At 31 January 2024 2,004,005 4,060 247,723
At 31 January 2023 2,000,000 4,511 275,247

A & J AUDHALI ENTERPRISES LIMITED (REGISTERED NUMBER: 06505358)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

10. TANGIBLE FIXED ASSETS - continued

Group

Fixtures Motor Computer
& fittings vehicles equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 February 2023 16,105 796,702 45,928 3,297,603
Additions 4,083 166,301 1,664 176,053
Disposals - (36,196 ) - (36,196 )
At 31 January 2024 20,188 926,807 47,592 3,437,460
DEPRECIATION
At 1 February 2023 14,537 512,588 33,007 719,242
Charge for year 1,412 109,740 4,857 143,984
Eliminated on disposal - (24,743 ) - (24,743 )
At 31 January 2024 15,949 597,585 37,864 838,483
NET BOOK VALUE
At 31 January 2024 4,239 329,222 9,728 2,598,977
At 31 January 2023 1,568 284,114 12,921 2,578,361

Cost or valuation at 31 January 2024 is represented by:

Improvements
Freehold to Plant &
buildings properties machinery
£    £    £   
Valuation in 2024 910,807 - -
Cost 1,093,198 5,012 433,856
2,004,005 5,012 433,856

Fixtures Motor Computer
& fittings vehicles equipment Totals
£    £    £    £   
Valuation in 2024 - - - 910,807
Cost 20,188 926,807 47,592 2,526,653
20,188 926,807 47,592 3,437,460

A & J AUDHALI ENTERPRISES LIMITED (REGISTERED NUMBER: 06505358)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

10. TANGIBLE FIXED ASSETS - continued

Group

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST OR VALUATION
At 1 February 2023 770,952
Transfer to ownership (36,196 )
At 31 January 2024 734,756
DEPRECIATION
At 1 February 2023 497,701
Charge for year 65,449
Transfer to ownership (24,743 )
At 31 January 2024 538,407
NET BOOK VALUE
At 31 January 2024 196,349
At 31 January 2023 273,251

11. FIXED ASSET INVESTMENTS

Group
Listed
investments
£   
COST
At 1 February 2023 400,000
Disposals (400,000 )
At 31 January 2024 -
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 400,000

A & J AUDHALI ENTERPRISES LIMITED (REGISTERED NUMBER: 06505358)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

11. FIXED ASSET INVESTMENTS - continued

Company
Shares in
group Listed
undertakings investments Totals
£    £    £   
COST
At 1 February 2023 100 400,000 400,100
Disposals - (400,000 ) (400,000 )
At 31 January 2024 100 - 100
NET BOOK VALUE
At 31 January 2024 100 - 100
At 31 January 2023 100 400,000 400,100

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiary

A & J Audhali Fresh Farm Foods Limited
Registered office: 14 Harriott Drive, Warwick, UK
Nature of business: Meat wholesalers to the catering industry.
%
Class of shares: holding
Ordinary 99.00


12. INVESTMENT PROPERTY
Company
Total
£   
FAIR VALUE
At 1 February 2023 2,000,000
Additions 4,005
At 31 January 2024 2,004,005
NET BOOK VALUE
At 31 January 2024 2,004,005
At 31 January 2023 2,000,000

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2024 910,807
Cost 1,093,198
2,004,005

Investment properties were valued on an open market basis on 31 January 2024 by the directors .

A & J AUDHALI ENTERPRISES LIMITED (REGISTERED NUMBER: 06505358)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

13. STOCKS

Group
2024 2023
£    £   
Finished goods 645,885 519,646

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade debtors 986,738 864,388 - -
Amounts owed by group undertakings - - 166,260 188,348
Other debtors 7,217 - - -
Directors' current accounts - 784,289 - -
Tax 89,637 89,637 - -
VAT 27,237 33,214 - -
Prepayments 25,660 21,734 16,694 16,490
1,136,489 1,793,262 182,954 204,838

An impairment loss of £2,565 (2023: an impairment loss reversal of £1,652) was recognised against trade debtors during the year.

All debtors are financial assets that are measured at amortised cost.

Amounts owed by group undertakings are unsecured, repayable under normal commercial arrangements and carry no interest.

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Hire purchase contracts (see note 17) 89,714 123,113 - -
Trade creditors 2,129,397 1,974,577 - -
Tax 513,855 328,932 31,780 18,937
Social security and other taxes 26,777 31,168 - -
VAT - - 2,000 -
Pension control 3,997 3,527 - -
Shareholder's loan account 1,062 6,276 - -
Directors' current accounts 179,643 49,777 - -
Accruals and deferred income 33,642 45,298 6,725 4,275
2,978,087 2,562,668 40,505 23,212

All creditors are financial liabilities measured at amortised cost.

A & J AUDHALI ENTERPRISES LIMITED (REGISTERED NUMBER: 06505358)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group
2024 2023
£    £   
Hire purchase contracts (see note 17) 43,672 133,386

17. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 89,714 123,113
Between one and five years 43,672 133,386
133,386 256,499

Group
Non-cancellable operating leases
2024 2023
£    £   
Within one year 2,208 2,944
Between one and five years - 2,208
2,208 5,152

18. SECURED DEBTS

The following secured debts are included within creditors:

Group
2024 2023
£    £   
Hire purchase contracts 133,386 256,499

The hire purchase contracts are secured on the assets concerned.

19. PROVISIONS FOR LIABILITIES

Group Company
2024 2023 2024 2023
£    £    £    £   
Deferred tax
Accelerated capital allowances 143,556 109,032 - -
Revaluation of fixed assets 200,546 152,415 200,546 152,415
344,102 261,447 200,546 152,415

A & J AUDHALI ENTERPRISES LIMITED (REGISTERED NUMBER: 06505358)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

19. PROVISIONS FOR LIABILITIES - continued

Group
Deferred
tax
£   
Balance at 1 February 2023 261,447
Charge to Income Statement during year 34,524
Charge to OCI 48,131
Balance at 31 January 2024 344,102

Company
Deferred
tax
£   
Balance at 1 February 2023 152,415
Charge to OCI 48,131
Balance at 31 January 2024 200,546

20. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary A £1 100 100
100 Ordinary B £1 100 100
200 200

All Ordinary A and B shares rank pari passu with respect to voting rights and the rights to repayment of capital. Each class of shares also has a right to distribution of dividends.

21. RESERVES

Group
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 February 2023 6,100,929 758,392 6,859,321
Profit for the year 2,153,609 2,153,609
Dividends (1,717,967 ) (1,717,967 )
Deferred tax - (48,131 ) (48,131 )
At 31 January 2024 6,536,571 710,261 7,246,832

A & J AUDHALI ENTERPRISES LIMITED (REGISTERED NUMBER: 06505358)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

21. RESERVES - continued

Company
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 February 2023 2,042,066 758,392 2,800,458
Profit for the year 1,326,084 1,326,084
Dividends (1,642,896 ) (1,642,896 )
Deferred tax - (48,131 ) (48,131 )
At 31 January 2024 1,725,254 710,261 2,435,515

Retained earnings

This reserve represents all current and prior year retained profits and losses.

22. PENSION COMMITMENTS

The group operates a defined contribution pension scheme in respect of the directors and certain employees. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the group and amounted to £21,170 (2023 - £15,054). At the year end there was a balance outstanding amounting to £3,997 (2023 - £3,527).

23. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£    £   
A A Audhali
Balance outstanding at start of year 784,289 275,805
Amounts advanced 428,000 514,000
Amounts repaid (1,234,032 ) (5,516 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (21,743 ) 784,289

24. RELATED PARTY DISCLOSURES

Key management are considered to be the directors, whose remuneration is disclosed in the preceding notes to these financial statements.

25. CONTROLLING INTERESTS

The directors are considered to be the ultimate controlling parties by virtue of their ability to act in concert in respect of the financial and operating policies of the company and group.