Alrahi & Singh Limited 07276011 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is retail pharmacists. Digita Accounts Production Advanced 6.30.9574.0 true false true 07276011 2023-03-01 2024-02-29 07276011 2024-02-29 07276011 core:RetainedEarningsAccumulatedLosses 2024-02-29 07276011 core:ShareCapital 2024-02-29 07276011 core:CurrentFinancialInstruments 2024-02-29 07276011 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 07276011 core:Non-currentFinancialInstruments 2024-02-29 07276011 core:Non-currentFinancialInstruments core:AfterOneYear 2024-02-29 07276011 core:FurnitureFittings 2024-02-29 07276011 core:LandBuildings core:OwnedOrFreeholdAssets 2024-02-29 07276011 core:MotorVehicles 2024-02-29 07276011 core:OfficeEquipment 2024-02-29 07276011 core:PlantMachinery 2024-02-29 07276011 bus:SmallEntities 2023-03-01 2024-02-29 07276011 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 07276011 bus:FilletedAccounts 2023-03-01 2024-02-29 07276011 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 07276011 bus:RegisteredOffice 2023-03-01 2024-02-29 07276011 bus:CompanySecretary1 2023-03-01 2024-02-29 07276011 bus:Director1 2023-03-01 2024-02-29 07276011 bus:Director2 2023-03-01 2024-02-29 07276011 bus:Director3 2023-03-01 2024-02-29 07276011 bus:Director6 2023-03-01 2024-02-29 07276011 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 07276011 core:Goodwill 2023-03-01 2024-02-29 07276011 core:FurnitureFittings 2023-03-01 2024-02-29 07276011 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 07276011 core:MotorVehicles 2023-03-01 2024-02-29 07276011 core:OfficeEquipment 2023-03-01 2024-02-29 07276011 core:PlantMachinery 2023-03-01 2024-02-29 07276011 countries:EnglandWales 2023-03-01 2024-02-29 07276011 2023-02-28 07276011 core:CostValuation core:Non-currentFinancialInstruments 2023-02-28 07276011 core:FurnitureFittings 2023-02-28 07276011 core:LandBuildings core:OwnedOrFreeholdAssets 2023-02-28 07276011 core:MotorVehicles 2023-02-28 07276011 core:OfficeEquipment 2023-02-28 07276011 core:PlantMachinery 2023-02-28 07276011 2022-03-01 2023-02-28 07276011 2023-02-28 07276011 core:RetainedEarningsAccumulatedLosses 2023-02-28 07276011 core:ShareCapital 2023-02-28 07276011 core:CurrentFinancialInstruments 2023-02-28 07276011 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 07276011 core:Non-currentFinancialInstruments 2023-02-28 07276011 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 07276011 core:FurnitureFittings 2023-02-28 07276011 core:LandBuildings core:OwnedOrFreeholdAssets 2023-02-28 07276011 core:MotorVehicles 2023-02-28 07276011 core:OfficeEquipment 2023-02-28 07276011 core:PlantMachinery 2023-02-28 iso4217:GBP xbrli:pure

Registration number: 07276011

Alrahi & Singh Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 29 February 2024

 

Alrahi & Singh Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 10

 

Alrahi & Singh Limited

Company Information

Directors

Mr Asif Alrahi

Mr Iqbal Singh

Mrs Sandeep Kaur

Mrs Sidra Alrahi

Company secretary

Mr Iqbal Singh

Registered office

113 Lanehouse Road
Thornaby
Stockton-on-Tees
TS17 8AB

Accountants

G W Thompson & Co Accountants Limited
182 Front Street
Chester-le-Street
Co. Durham
DH3 3AZ

 

Alrahi & Singh Limited

(Registration number: 07276011)
Abridged Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

3,989,085

854,791

Tangible assets

5

1,166,982

189,186

Investments

6

2,095,000

2,095,000

 

7,251,067

3,138,977

Current assets

 

Stocks

475,000

265,000

Debtors

7

15,200

779,071

Cash at bank and in hand

 

863,453

334,388

 

1,353,653

1,378,459

Prepayments and accrued income

 

700,000

-

Creditors: Amounts falling due within one year

(4,283,799)

(2,829,187)

Net current liabilities

 

(2,230,146)

(1,450,728)

Total assets less current liabilities

 

5,020,921

1,688,249

Creditors: Amounts falling due after more than one year

(3,442,881)

-

Net assets

 

1,578,040

1,688,249

Capital and reserves

 

Called up share capital

8

2,000

2,000

Retained earnings

1,576,040

1,686,249

Shareholders' funds

 

1,578,040

1,688,249

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Alrahi & Singh Limited

(Registration number: 07276011)
Abridged Balance Sheet as at 29 February 2024

Approved and authorised by the Board on 8 November 2024 and signed on its behalf by:
 

.........................................
Mr Asif Alrahi
Director

 

Alrahi & Singh Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
113 Lanehouse Road
Thornaby
Stockton-on-Tees
TS17 8AB

The principal place of business is:
113 Lanehouse Road
Thornaby
Stockton-on-Tees
TS17 8AB

These financial statements were authorised for issue by the Board on 8 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Alrahi & Singh Limited

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

20% on cost.

Office equipment

20% on cost.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% on cost.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Alrahi & Singh Limited

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

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Alrahi & Singh Limited

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

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 45).

 

Alrahi & Singh Limited

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

4

Intangible assets

Total
£

Cost or valuation

At 1 March 2023

2,046,562

Additions acquired separately

3,686,610

At 29 February 2024

5,733,172

Amortisation

At 1 March 2023

1,191,771

Amortisation charge

552,316

At 29 February 2024

1,744,087

Carrying amount

At 29 February 2024

3,989,085

At 28 February 2023

854,791

5

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Cost or valuation

At 1 March 2023

200,254

64,758

-

692

Additions

571,875

112,984

59,752

-

At 29 February 2024

772,129

177,742

59,752

692

Depreciation

At 1 March 2023

-

75,826

-

692

Charge for the year

6,008

11,529

-

-

At 29 February 2024

6,008

87,355

-

692

Carrying amount

At 29 February 2024

766,121

90,387

59,752

-

At 28 February 2023

200,254

(11,068)

-

-

 

Alrahi & Singh Limited

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

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2023

4,670

270,374

Additions

313,403

1,058,014

At 29 February 2024

318,073

1,328,388

Depreciation

At 1 March 2023

4,670

81,188

Charge for the year

62,681

80,218

At 29 February 2024

67,351

161,406

Carrying amount

At 29 February 2024

250,722

1,166,982

At 28 February 2023

-

189,186

Included within the net book value of land and buildings above is £766,121 (2023 - £200,254) in respect of freehold land and buildings.
 

6

Investments

Total
£

Cost or valuation

At 1 March 2023

2,095,000

Provision

Carrying amount

At 29 February 2024

2,095,000

At 28 February 2023

2,095,000

2024
£

2023
£

7

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

8

Share capital

Allotted, called up and fully paid shares

 

Alrahi & Singh Limited

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

2024

2023

No.

£

No.

£

Ordinary of £1 each

2,000

2,000

2,000

2,000