Registered number
09170316
Alaraby Aljadeed Ltd
Filleted Accounts
31 December 2023
Alaraby Aljadeed Ltd
Registered number: 09170316
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 5 134,331 176,168
Tangible assets 6 67,232 110,381
201,563 286,549
Current assets
Debtors 7 665,345 227,637
Cash at bank and in hand 553,550 589,241
1,218,895 816,878
Creditors: amounts falling due within one year 8 (6,634,884) (6,177,527)
Net current liabilities (5,415,989) (5,360,649)
Net liabilities (5,214,426) (5,074,100)
Capital and reserves
Called up share capital 152 116
Share premium 50,118,489 43,042,522
Profit and loss account (55,333,067) (48,116,738)
Shareholders' funds (5,214,426) (5,074,100)
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.
M A S Dib
Director
Approved by the board on 17 October 2024
Alaraby Aljadeed Ltd
Notes to the Accounts
for the year ended 31 December 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).

The accounts are prepared in sterling, which is the functional currency of the entity.
Going concern
The company made a net loss of £7,216,329 during the year ended 31 December 2023 and, as at that date, the company's current liabilities exceeded its total assets by £5,214,426.

The company is part of a larger group and benefits from the full financial support and otherwise of the parent company and the ultimate controlling party. The support from these parties, although not legally binding, is expected to continue for the foreseeable future. It is through this support that the company is able to meet its working capital needs and continue its business operations and thereby remain a going concern.

Based on this and after making enquiries, the directors believe that the company has adequate resources to continue in operational existence for the foreseeable future and at least for twelve months from the date of signing.

Accordingly, the directors continue to adopt the going concern basis in preparing the accounts. As such the accounts do not contain adjustments that would be required if the company was unable to continue as a going concern.
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 3 years
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Audit information
The audit report is unqualified.
Material uncertainty related to going concern
We draw attention to note 1 in the accounts which indicates that the company incurred a net loss of £7,216,329 during the year ended 31 December 2023 and, as at that date, the company's current liabilities exceeded its total assets by £5,214,426. As stated in note 1, these events or conditions, along with the other matters as set forth in note 1, indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.
In auditing the accounts, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the accounts is appropriate.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Senior statutory auditor: S Rajan CTA FCCA ACA
Firm: Adam & Roger Limited t/as AFCL Auditors
Date of audit report: 7 November 2024
3 Exceptional items 2023 2022
£ £
Insurance claim - 96,819
Foreign exchange gain/(loss) 302,973 (469,512)
302,973 (372,693)
4 Employees 2023 2022
Number Number
Production 71 72
Administrative 15 13
Marketing and development 10 7
Average number of persons employed by the company 96 92
5 Intangible fixed assets £
Development costs:
Cost
At 1 January 2023 291,830
At 31 December 2023 291,830
Amortisation
At 1 January 2023 115,662
Provided during the year 41,837
At 31 December 2023 157,499
Net book value
At 31 December 2023 134,331
At 31 December 2022 176,168
Intangible fixed assets is being written off in equal annual instalments over its estimated economic life of 7 years.
6 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2023 107,234 336,172 443,406
Additions - 50,398 50,398
At 31 December 2023 107,234 386,570 493,804
Depreciation
At 1 January 2023 82,445 250,580 333,025
Charge for the year 24,789 68,758 93,547
At 31 December 2023 107,234 319,338 426,572
Net book value
At 31 December 2023 - 67,232 67,232
At 31 December 2022 24,789 85,592 110,381
7 Debtors 2023 2022
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 419,183 3,140
Prepayments and accrued income 105,573 17,433
Other debtors 140,589 207,064
665,345 227,637
8 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 83,810 105,357
Amounts owed to group undertakings and undertakings in which the company has a participating interest 5,761,853 5,367,382
Accruals and deferred income 703,429 604,844
Taxation and social security costs 71,801 73,235
Other creditors 13,991 26,709
6,634,884 6,177,527
9 Share capital Nominal 2023 2023 2022
value Number £ £
£1 each 116 152 116
During the year in December 2023 (2022 - December 2022) the company converted group loans from the parent company and issued 36 (2022 - 62) £1 ordinary shares at £196,556 (2022 - £204,630) per share, totalling £7,076,003 (2022 - £12,687,064).
10 Pension commitments
The amount recognised in the profit and loss as an expense in relation to defined contribution plans was £45,599 (2022 - £39,238). As at the period end contributions totalling £11,338 (2022 - £24,514) were payable and are included within other creditors.
11 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases - 9,947
12 Related party transactions
In accordance with FRS 102 paragraph 1AC 35, exemption is taken not to disclose transactions in the year between wholly owned group undertakings.

As at 31 December 2023 an amount of £1,658,392 (2022: £1,744,724) was due to Rainbow Media SAL, a fellow group subsidiary based in Lebanon, in respect of financing provided during the year. The amount loaned is unsecured and interest free with no fixed repayment date and is included within creditors owed to group undertakings.

The company also leases its premises from Rainbow Media SAL rent free although it is required to pay costs related to the property.
13 Controlling party
The immediate parent company is Fadaat Media Limited, a company registered in England and Wales whose registered office is situated at Ealing Cross 2nd Floor, 85 Uxbridge Road, London W5 5TH from where the group accounts can be obtained.

The ultimate parent company is Fadaat Media W.L.L, a company registered in Qatar whose registered office is situated at Com 13. Floor 20, Burj Alfardan, Lusail Building no. 157, Street 301, Zone 69, Doha Qatar.

The ultimate controlling party is Sultan Ghanim S A Al-Kuwari, by virtue of his controlling ownership of the ultimate parent company Fadaat Media W.L.L.
14 Other information
Alaraby Aljadeed Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Ealing Cross 2nd Floor
85 Uxbridge Road
London
W5 5TH
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