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Registered Number: 08445202
England and Wales

 

 

 

KHAN SUPER FOODS LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
Directors Shah Faisal KHAN
Mr Shah Faisal Khan
Registered Number 08445202
Registered Office 396-398 Green Lane,
Ilford
Essex
IG3 9JX
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 31 March 2024.
Principal activities
Principal activity of the company during the financial year 31st March 2024 was retail sale of fruits and vegetables.
Directors
The directors who served the company throughout the year were as follows:
Asad KHAN
Shah Faisal KHAN
Mr Shah Faisal Khan
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:


----------------------------------
Shah Faisal KHAN
Director

Date approved: 26 September 2024
2
 
 
Notes
 
2024
£
  2023
£
Turnover 1,172,203    1,101,380 
Cost of sales (1,005,589)   (941,749)
Gross profit 166,614    159,631 
Administrative expenses (155,309)   (130,204)
Operating profit 11,305    29,427 
Interest payable and similar charges (1,955)   (2,197)
Profit/(Loss) on ordinary activities before taxation 9,350    27,230 
Tax on profit on ordinary activities (3,405)   (3,418)
Profit/(Loss) for the financial year 5,945    23,812 
 
3
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 45,341    53,912 
45,341    53,912 
Current assets      
Stocks 4 256,569    309,256 
Debtors 5 32,115    19,495 
Cash at bank and in hand 648,730    520,760 
937,414    849,511 
Creditors: amount falling due within one year 6 (622,418)   (535,055)
Net current assets 314,996    314,456 
 
Total assets less current liabilities 360,337    368,368 
Creditors: amount falling due after more than one year 7 (18,399)   (32,376)
Accruals and deferred income   1 
Net assets 341,938    335,993 
 

Capital and reserves
     
Called up share capital 8 100    100 
Profit and loss account 341,838    335,893 
Shareholders' funds 341,938    335,993 
 


For the year ended 31 March 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 financial statements were approved by the board of directors on 26 September 2024 and were signed on its behalf by:


-------------------------------
Shah Faisal KHAN
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 April 2022 100  312,081  312,181 
Profit for the year 23,812  23,812 
Total comprehensive income for the year 23,812  23,812 
Total investments by and distributions to owners
At 31 March 2023 100  335,893  335,993 
At 01 April 2023 100  335,893  335,993 
Profit for the year 5,945  5,945 
Total comprehensive income for the year 5,945  5,945 
Total investments by and distributions to owners
At 31 March 2024 100  341,838  341,938 
5
General Information
Khan Super Foods Ltd is a private company, limited by shares, registered in England and Wales, registration number 08445202, registration address 396-398 Green Lane,, Ilford, Essex, IG3 9JX.

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.
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.
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 15% Reducing Balance
Motor Vehicles 20% 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.
2.

Average number of employees

Average number of employees during the year was 4 (2023 : 4).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Total
  £   £   £
At 01 April 2023 96,358    33,640    129,998 
Additions    
Disposals    
At 31 March 2024 96,358    33,640    129,998 
Depreciation
At 01 April 2023 47,292    28,794    76,086 
Charge for year 7,360    1,211    8,571 
On disposals    
At 31 March 2024 54,652    30,005    84,657 
Net book values
Closing balance as at 31 March 2024 41,706    3,635    45,341 
Opening balance as at 01 April 2023 49,066    4,846    53,912 


4.

Stocks

2024
£
  2023
£
Stocks 256,569    309,256 
256,569    309,256 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 29,708    10,580 
VAT Receivable 2,407    8,915 
32,115    19,495 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 81,148    144,298 
Bank Loans & Overdrafts 10,000    10,000 
Corporation Tax 3,405    6,976 
PAYE & Social Security 1,042   
Obligations under HP/Financial Leases 4,089    4,089 
Directors' Current Accounts 522,734    369,692 
622,418    535,055 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 14,948    24,836 
Obligations Under HP/Financial Leases 3,451    7,540 
18,399    32,376 

8.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

6