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Registered Number: 07679525


 

 

 

KHATAR FOODS LTD


Abridged Accounts
 


Period of accounts

Start date: 01 November 2023

End date: 31 October 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 92,899    116,123 
Tangible fixed assets 4 112,440    108,547 
205,339    224,670 
Current assets      
Stocks 149,124    120,404 
Debtors 138,991    72,703 
Cash at bank and in hand 511,384    562,901 
799,499    756,008 
Creditors: amount falling due within one year (331,803)   (344,822)
Net current assets 467,696    411,186 
 
Total assets less current liabilities 673,035    635,856 
Provisions for liabilities (7,175)  
Net assets 665,860    635,856 
 

Capital and reserves
     
Called up share capital 1,000    1,000 
Profit and loss account 664,860    634,856 
Shareholders' funds 665,860    635,856 
 


For the year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge 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 members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 22 November 2024 and were signed on its behalf by:


-------------------------------
Jawad Arif
Director
1
General Information
KHATAR FOODS LTD is a private company, limited by shares, registered in , registration number 07679525, registration address 49 Ramsay Street, Rochdale, OL16 2BX.

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.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
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.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 10 years.
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:
Motor Vehicles 20% Reducing Balance
Fixtures and Fittings 10% Reducing Balance
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.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 28 (2023 : 27).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 November 2023 232,243    232,243 
Additions  
Disposals  
At 31 October 2024 232,243    232,243 
Amortisation
At 01 November 2023 116,120    116,120 
Charge for year 23,224    23,224 
On disposals  
At 31 October 2024 139,344    139,344 
Net book values
At 31 October 2024 92,899    92,899 
At 31 October 2023 116,123    116,123 


4.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Total
  £   £   £
At 01 November 2023 32,003    284,516    316,519 
Additions   16,386    16,386 
Disposals    
At 31 October 2024 32,003    300,902    332,905 
Depreciation
At 01 November 2023 32,003    175,969    207,972 
Charge for year   12,493    12,493 
On disposals    
At 31 October 2024 32,003    188,462    220,465 
Net book values
Closing balance as at 31 October 2024   112,440    112,440 
Opening balance as at 01 November 2023   108,547    108,547 


2