Registered number
12460758
ARAS ALI LTD
Filleted Accounts
29 February 2024
ARAS ALI LTD
Registered number: 12460758
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 78,532 98,165
Current assets
Stocks 194,642 159,642
Debtors 4 13,000 13,000
Cash at bank and in hand 14,385 14,547
222,027 187,189
Creditors: amounts falling due within one year 5 (204,649) (170,683)
Net current assets 17,378 16,506
Total assets less current liabilities 95,910 114,671
Creditors: amounts falling due after more than one year 6 (64,544) (83,530)
Net assets 31,366 31,141
Capital and reserves
Called up share capital 100 100
Profit and loss account 31,266 31,041
Shareholders' funds 31,366 31,141
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
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.
Mr Ibrahim Yakisan
Director
Approved by the board on 26 November 2024
ARAS ALI LTD
Notes to the Accounts
for the year ended 29 February 2024
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).
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.
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:
Fixtures, fittings, tools and equipment 20% reducing balance.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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. sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 March 2023 64,999 58,358 123,357
At 29 February 2024 64,999 58,358 123,357
Depreciation
At 1 March 2023 13,520 11,672 25,192
Charge for the year 10,296 9,337 19,633
At 29 February 2024 23,816 21,009 44,825
Net book value
At 29 February 2024 41,183 37,349 78,532
At 28 February 2023 51,479 46,686 98,165
4 Debtors 2024 2023
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 13,000 13,000
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 116,982 79,851
Taxation and social security costs (5,956) (3,691)
Other creditors 93,623 94,523
204,649 170,683
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 22,503 32,500
Obligations under finance lease and hire purchase contracts 42,041 51,030
64,544 83,530
7 Controlling party
Mr Hasan Yakisan
8 Other information
ARAS ALI LTD is a private company limited by shares and incorporated in England. Its registered office is:
Unit 38 The Harvey Centre
Harvey Centre Approach
Harlow
London
CM20 1XR
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