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Registered Number: 04263675
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 August 2023

for

ISLAM FOODS LTD

 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 84,536    120,192 
84,536    120,192 
Current assets      
Stocks 4 353,552    342,623 
Debtors 5 226,422    226,638 
Cash at bank and in hand 33,329    127,587 
613,303    696,848 
Creditors: amount falling due within one year 6 (699,197)   (737,414)
Net current assets (85,894)   (40,566)
 
Total assets less current liabilities (1,358)   79,626 
Creditors: amount falling due after more than one year 7 (71,967)   (95,075)
Provisions for liabilities 8 (21,134)   (22,836)
Net assets (94,459)   (38,285)
 

Capital and reserves
     
Called up share capital 2    2 
Profit and loss account (94,461)   (38,287)
Shareholders' funds (94,459)   (38,285)
 


For the year ended 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 08 October 2024 and were signed by:


-------------------------------
Noor Ullah
Director
1
General Information
Islam Foods Ltd is a private company, limited by shares, registered in England and Wales, registration number 04263675, registration address Oberon House , Ferries Street , Hull , East Yorkshire, HU9 1RL.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 15% Reducing Balance
Computer Equipment 33% Straight Line
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 17 (2022 : 16).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 September 2022 85,528    154,286    77,670    1,744    319,228 
Additions 2,634    40,108        42,742 
Disposals   (58,290)       (58,290)
At 31 August 2023 88,162    136,104    77,670    1,744    303,680 
Depreciation
At 01 September 2022 75,068    57,526    64,698    1,744    199,036 
Charge for year 2,729    16,259    2,334      21,322 
On disposals   (1,214)       (1,214)
At 31 August 2023 77,797    72,571    67,032    1,744    219,144 
Net book values
Closing balance as at 31 August 2023 10,365    63,533    10,638      84,536 
Opening balance as at 01 September 2022 10,460    96,760    12,972      120,192 


4.

Stocks

2023
£
  2022
£
Stocks 353,552    342,623 
353,552    342,623 

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 209,203    211,068 
Prepayments & Accrued Income 4,187    6,283 
PAYE & Social Security 886   
VAT 12,146    9,287 
226,422    226,638 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 437,049    446,058 
Bank Loans & Overdrafts 30,000    36,551 
Corporation Tax 2,503    13,504 
PAYE & Social Security   532 
Accrued Expenses 20,683    7,121 
Other Creditors 144,941    145,407 
Obligations under HP/Financial Leases 19,756    15,326 
Wages & Salaries Control Account 6,124    6,994 
Directors' Current Accounts 38,141    65,921 
699,197    737,414 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 52,500    82,500 
Obligations Under HP/Financial Leases 19,467    12,575 
71,967    95,075 

8.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 21,134    22,836 
21,134    22,836 

2