REGISTERED NUMBER: |
Anand International Limited |
Strategic Report, Report of the Directors and |
Financial Statements For The Year Ended 30th June 2024 |
REGISTERED NUMBER: |
Anand International Limited |
Strategic Report, Report of the Directors and |
Financial Statements For The Year Ended 30th June 2024 |
Anand International Limited (Registered number: 01561946) |
Contents of the Financial Statements |
For The Year Ended 30th June 2024 |
Page |
Company Information | 1 |
Strategic Report | 2 | to | 4 |
Report of the Directors | 5 |
Report of the Independent Auditors | 6 | to | 9 |
Income Statement | 10 |
Other Comprehensive Income | 11 |
Balance Sheet | 12 |
Statement of Changes in Equity | 13 |
Cash Flow Statement | 14 |
Notes to the Financial Statements | 15 | to | 24 |
Anand International Limited |
Company Information |
For The Year Ended 30th June 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditor |
310 Wellingborough Road |
Northampton |
NN1 4EP |
Anand International Limited (Registered number: 01561946) |
Strategic Report |
For The Year Ended 30th June 2024 |
The directors present their strategic report for the year ended 30th June 2024. |
REVIEW OF BUSINESS |
The company's turnover has increased by 8% whilst the gross profit percentage achieved is similar to that achieved in 2023. |
The company has a healthy net assets position as shown on the statement of financial position. |
The risks facing the company are those relating to technical innovations of products and of changes in the World economic climate on consumer, and therefore wholesaler demand. The company is always sensitive to new and innovational trends in the market and hopes to take advantage of any profitable new UK and overseas markets as they open up. |
The Key Performance Indicators are |
2024 | 2023 | 2022 | 2021 |
Debtors days | 37 | 42 | 41 | 37 |
Creditor days | 21 | 40 | 19 | 22 |
Trading ratio | 6.70% | 10.08% | 9.39% | 6.15% |
Liquidity ratio | 620.36% | 440.25% | 663.97% | 551.06% |
PRINCIPAL RISKS AND UNCERTAINTIES |
The risks facing the company are those relating to technical innovations of products and of changes in the UK and |
world economic climate on consumer, and therefore wholesaler demand. |
Anand International Limited (Registered number: 01561946) |
Strategic Report |
For The Year Ended 30th June 2024 |
SECTION 172(1) STATEMENT |
Directors' statement of compliance with duty to promote the success of the company |
During the year , the directors have had regard to the matters set out in S172 (1) (a) to (f) of the Companies Act 2006 |
whilst performing their duties. Whilst making decisions the directors ensure that they have acted in good faith, in a way they believe would promote the success of the Company for the benefit of its members. Specifically, the directors have considered the following:- |
a. The likely consequences of any decision in the long term; |
b. The interests of the Company's employees; |
c. The need to foster the Company's business relationships with suppliers , customers and others; |
d. The impact of the operations of the company on the community and the environment; |
e. The desirability of the Company maintaining a reputation for high standards of business conduct; and |
f. The need to act fairly between members of the company. |
S172(1) (a) The Likely consequences of any decision in the long term |
The Directors understand the business and the environment in which it operates. This is key to understanding the likely consequences of any long-term decisions . There is a plan for increased growth in the company's business in a cautious and risk -averse manner. |
S172(1) (b) The interests of the company's employees |
The directors recognise that the company's employees are key to the business and its success.Staff retention is achieved by the prioritising of employee wellbeing such that employees work in a humane ,safe and healthy environment which aims to encourage that employees develop to the best of their potential. |
S172(1) (c) The need to foster the Company's business relationships with suppliers , customers and others |
The directors recognise the important of relationships with our supply chain and the need to continue to build relationships with our key suppliers. We actively engage with suppliers throughout the year to ensure our respective plans align with one -another. |
The Company is committed to maintaining good customer relations and continues to spend considerable time to ensure customer satisfaction. |
S172(1) (d) The impact of the Company's operations on the community and the environment |
The Company recognise the importance of minimising the impact of our operations on the community and environment , which is why it is core to our strategy. |
The Company purchases from supplier companies which recycle batteries. |
S172 (1) (e) The desirability of the Company maintaining a reputation for high standards of business conduct |
The Company gives a significant proportion of its income to a charitable settlement registered in England & Wales which has funded many local and national charitable causes. |
S172(1) (f) The need to act fairly between members of Company |
The Company is a family run company where the long term ties of kindred and friendship combine to produce a courteous and a respectful atmosphere. |
RESEARCH AND DEVELOPMENT AND FUTURE DEVELOPMENTS |
The company does not manufacture or develop the products which it sells but purchases them on a wholesale |
basis. |
The company is sensitive to innovational market trends and always seeks to take advantage of any profitable new |
United Kingdom or overseas markets for new products as they open up. |
FINANCIAL INSTRUMENT RISK |
The company does not have any bank borrowings. The company has a healthy net current assets and net assets position as shown on the statement of financial position. |
The movement in foreign exchange rates affects the values of trade debtors , trade creditors and foreign currency bank accounts and the directors carefully monitor movements in those currencies. |
Anand International Limited (Registered number: 01561946) |
Strategic Report |
For The Year Ended 30th June 2024 |
GREENHOUSE GAS EMISSIONS, ENERGY CONSUMPTION & ENERGY EFFICIENCY |
Greenhouse gas emissions, energy consumption and energy efficiency disclosures are not being given because in the directors' opinion the consumption of energy is less than 40,000 k/wh per annum. |
ON BEHALF OF THE BOARD: |
Anand International Limited (Registered number: 01561946) |
Report of the Directors |
For The Year Ended 30th June 2024 |
The directors present their report with the financial statements of the company for the year ended 30th June 2024. |
PRINCIPAL ACTIVITY |
The company's principal activity continues to be that of wholesale selling of consumer batteries and smoking papers and filters. |
DIVIDENDS |
Dividends of £150,000 (2023 : £90,000) were paid during the year. The directors do not recommend |
any further dividend for the year under review. |
EVENTS SINCE THE END OF THE YEAR |
Information relating to events since the end of the year is given in the notes to the financial statements. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1st July 2023 to the date of this report. |
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
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 of 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 accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; |
- | 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. They 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. |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
AUDITORS |
The auditors, Cheney & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
ON BEHALF OF THE BOARD: |
Report of the Independent Auditors to the Members of |
Anand International Limited |
Opinion |
We have audited the financial statements of Anand International Limited (the 'company') for the year ended 30th June 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
_ |
In our opinion the financial statements: |
- | give a true and fair view of the state of the company's affairs as at 30th June 2024 and of its profit for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
Other information |
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
Report of the Independent Auditors to the Members of |
Anand International Limited |
Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. |
Report of the Independent Auditors to the Members of |
Anand International Limited |
Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
Irregularities , including fraud , are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities , outlined above, to detect material misstatements in respect of irregularities, including fraud. |
The extent to which our procedures are capable of detecting irregularities , including fraud, is detailed below: |
We obtained an understanding of the legal and regulatory frameworks applicable to the company and the sector in |
which it operates. We determine that the following laws and regulations were most significant: the Companies Act 2006, UK direct and indirect taxation laws , the Consumer Rights Act, Employment Legislation and Health and Safety legislation affecting staff working in the warehouse and office staff using computer systems. The company has Marine Insurance for goods being exported via ship on the oceans of the world. |
We obtained an understanding of how the company is complying with those legal and regulatory frame works by making enquiries of management. |
We have discussed with management the risk of incorrect VAT treatment in sales transactions , including export sales of goods to Europe and the rest of the world and have concluded that the client directors and staff are sufficiently experienced concerning these regulations that the risk of material misstatement is low. |
There are no critical judgements of an unusual nature . The cut off of sales , purchases and stock movements is covered by the directors involvement. The valuation of stock is performed annually by the managing director based on recent cost prices and he supervises the annual stock count. |
We have undertaken high levels of substantive testing of balances in the statement of financial position and have performed a detailed analytical review of the income statement. |
Prior to commencement of the audit staff were briefed on the risk assessment of the susceptibility of the company financial statements to material misstatement , including fraud . |
Audit procedures performed included: |
-identifying and assessing the design and effectiveness of controls management has in place to prevent and detect fraud;and |
-understanding how the directors considered and addressed the potential for override of controls or inappropriate influence over the financial reporting process; and |
-challenging assumptions and judgements made by management in significant accounting estimates where appropriate;and |
-identifying and testing journal entries , in particular any journal entries posted with unusual account combinations, as appropriate; and |
-assessing the extent of compliance with laws and regulations. |
At the completion stage of the audit the results of audit tests were re-examined to ensure that they were consistent with our knowledge of the company and did not warrant further investigation of transactions and balances. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
Report of the Independent Auditors to the Members of |
Anand International Limited |
Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
Statutory Auditor |
310 Wellingborough Road |
Northampton |
NN1 4EP |
Anand International Limited (Registered number: 01561946) |
Income Statement |
For The Year Ended 30th June 2024 |
2024 | 2023 |
Notes | £ | £ |
TURNOVER | 3 |
Cost of sales | ( |
) | ( |
) |
GROSS PROFIT |
Distribution costs | ( |
) | ( |
) |
Administrative expenses | ( |
) | ( |
) |
OPERATING PROFIT | 5 |
Interest receivable and similar income |
PROFIT BEFORE TAXATION |
Tax on profit | 6 | ( |
) | ( |
) |
PROFIT FOR THE FINANCIAL YEAR |
Anand International Limited (Registered number: 01561946) |
Other Comprehensive Income |
For The Year Ended 30th June 2024 |
2024 | 2023 |
Notes | £ | £ |
PROFIT FOR THE YEAR |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
Anand International Limited (Registered number: 01561946) |
Balance Sheet |
30th June 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 8 |
Investments | 9 |
CURRENT ASSETS |
Stocks | 10 |
Debtors | 11 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 12 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 14 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 15 |
Retained earnings | 16 |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
Anand International Limited (Registered number: 01561946) |
Statement of Changes in Equity |
For The Year Ended 30th June 2024 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Balance at 1st July 2022 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 30th June 2023 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 30th June 2024 |
Anand International Limited (Registered number: 01561946) |
Cash Flow Statement |
For The Year Ended 30th June 2024 |
2024 | 2023 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 20 |
Tax paid | ( |
) | ( |
) |
Net cash from operating activities |
Cash flows from investing activities |
Purchase of tangible fixed assets | ( |
) | ( |
) |
Sale of tangible fixed assets |
Interest received |
Net cash from investing activities |
Cash flows from financing activities |
Capital repayments in year | ( |
) |
Equity dividends paid | ( |
) | ( |
) |
Net cash from financing activities | ( |
) | ( |
) |
Increase in cash and cash equivalents |
Cash and cash equivalents at beginning of year |
21 |
7,018,241 |
Cash and cash equivalents at end of year | 21 | 13,259,441 | 11,711,885 |
Anand International Limited (Registered number: 01561946) |
Notes to the Financial Statements |
For The Year Ended 30th June 2024 |
1. | STATUTORY INFORMATION |
Anand International Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Anand International Limited is a parent company with 3 wholly owned subsidiaries; Tee Tee Co.Limited (England & Wales) and House of Batteries Holdings Limited (England & Wales) are dormant and Anand Emerald Ltd (Ireland), which started trading in October 2021. All the subsidiary companies are considered immaterial companies for the years ended 30th June 2024 and 30th June 2023 both individually and in total. |
Anand Emerald Ltd ( Ireland) is effectively a branch selling operation which sells locally on wholesale terms to Republic of Ireland ( ROI) customers products only sourced from Anand International Limited on a matched ROI Sales to an equivalent purchase from Anand International Limited . A gross profit margin is added to cover local overheads. Anand Emerald Ltd ( Ireland) has no trading stock as it has no warehouse facilities .The proceeds of ROI Sales are used to settle the purchase ledger debt due to the parent company.This means that the additional assets, liabilities, turnover and expenses increment that would arise on a consolidation would be immaterial. |
Accordingly consolidated financial statements have not been prepared as advantage has been taken of the exemption in section 405 Companies Act 2006.Consequently these accounts are single financial |
statements for the parent company only. |
Anand International Limited (Registered number: 01561946) |
Notes to the Financial Statements - continued |
For The Year Ended 30th June 2024 |
2. | ACCOUNTING POLICIES - continued |
Critical accounting judgements and key sources of estimation uncertainty |
The company makes estimates and assumptions concerning the future. The directors are also required to exercise judgement in the process of applying the company`s accounting policies. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below. |
In preparing these financial statements , the directors have made the following judgements: |
> Recoverability and carrying value of trading stock |
The directors review the market value and demand for the stock on a periodic basis to ensure stock is recorded in the financial statements have lower of cost and net realisable value. Any provision for impairment is recorded against the carrying values of stocks. The directors use their knowledge of market conditions, historical experiences and estimate of future events to assess the future demand for the company's products and achievable selling prices. |
> Recoverability of trade and other debtors |
Trade and other debtors are recognised to the extent that they are judged recoverable. The directors reviews are performed to estimate the level of reserves required for irrecoverable debt. Provisions are made specifically against invoices where recoverability is uncertain. |
The directors make allowances for doubtful debts based on an assessment of the recoverability of debtors.Allowances are applied to debtors where events or changes in circumstances indicate that the carrying amounts may not be recoverable. The directors specifically analyse historical bad debts, customer creditworthiness, current economic trends and changes in customer payment terms when making a judgement to evaluate the adequacy of the provision for doubtful debts. Where the expectation is different from the original estimate, such a difference will impact the carrying value of debtors and the charge in the profit and loss account. |
> Provisions |
A provision is recognised when the company has a present legal or constructive obligation as a result of a past event for which it is probable that an outflow of resources will be required to settle the obligation and the amount can be reliably estimated. If the effect is material, provisions are determined by discounting the expected future cash flow that reflects the time value of money and the risks specific to the liability. |
Whether a present obligation is probable or not requires judgement. The nature and type of risks for these provisions differ, the directors`s judgement is applied regarding the nature and extent of obligations in deciding if an outflow of resources is probable or not. |
> Leasing |
The company determines whether leases entered into are an operating or a finance lease. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the company on a lease by lease basis based on an evaluation of the terms and conditions of the arrangements , and accordingly whether the lease requires an asset and liability to be recognised in the balance sheet. |
> Depreciation, amortisation and residual values |
The directors have reviewed the asset lives and associated residual values of all fixed asset classes, and have concluded that asset lives and residual values are appropriate. |
The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account.Residual value assessments consider issues such as future market conditions , the remaining life of the asset and projected disposal values. |
> Taxation |
Anand International Limited (Registered number: 01561946) |
Notes to the Financial Statements - continued |
For The Year Ended 30th June 2024 |
2. | ACCOUNTING POLICIES - continued |
There are many transactions and calculations for which the ultimate tax determination is uncertain. The company recognizes liabilities for anticipated tax issues based on estimates of whether additional taxes will be due. |
The directors estimation is required to determine the amount of deferred tax assets that can be recognised, based upon likely timing and level of future taxable profits together with an assessment of the effect of future tax planning strategies. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Fixtures and fittings | - |
Motor vehicles | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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 amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
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. |
Anand International Limited (Registered number: 01561946) |
Notes to the Financial Statements - continued |
For The Year Ended 30th June 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
3. | TURNOVER |
The turnover and profit before taxation are attributable to the one principal activity of the company. |
An analysis of turnover by geographical market is given below: |
2024 | 2023 |
£ | £ |
United Kingdom |
Rest of world | 9,812,512 | 8,877,819 |
4. | EMPLOYEES AND DIRECTORS |
2024 | 2023 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
The average number of employees during the year was as follows: |
2024 | 2023 |
Directors | 3 | 3 |
Administration, warehousing and selling | 37 | 34 |
Other pension costs relate to defined contribution money purchase pension schemes . |
2024 | 2023 |
£ | £ |
Directors' remuneration |
The number of directors to whom retirement benefits were accruing was as follows: |
Money purchase schemes |
5. | OPERATING PROFIT |
The operating profit is stated after charging/(crediting): |
2024 | 2023 |
£ | £ |
Other operating leases |
Depreciation - owned assets |
Profit on disposal of fixed assets | ( |
) | ( |
) |
Auditors' remuneration |
Anand International Limited (Registered number: 01561946) |
Notes to the Financial Statements - continued |
For The Year Ended 30th June 2024 |
6. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
2024 | 2023 |
£ | £ |
Current tax: |
UK corporation tax |
Deferred tax | ( |
) |
Tax on profit |
Reconciliation of total tax charge included in profit and loss |
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below: |
2024 | 2023 |
£ | £ |
Profit before tax |
Profit multiplied by the standard rate of corporation tax in the UK of (2023 - |
Effects of: |
Expenses not deductible for tax purposes |
Income not taxable for tax purposes | ( |
) | ( |
) |
Capital allowances in excess of depreciation | - | ( |
) |
Depreciation in excess of capital allowances | - |
Rounding | - | (84 | ) |
Deferred Taxation movement | (3,650 | ) | 64,525 |
Total tax charge | 691,361 | 486,464 |
7. | DIVIDENDS |
2024 | 2023 |
£ | £ |
Ordinary shares of 0.33 each |
Interim |
Anand International Limited (Registered number: 01561946) |
Notes to the Financial Statements - continued |
For The Year Ended 30th June 2024 |
8. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
COST |
At 1st July 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 30th June 2024 |
DEPRECIATION |
At 1st July 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30th June 2024 |
NET BOOK VALUE |
At 30th June 2024 |
At 30th June 2023 |
9. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1st July 2023 |
and 30th June 2024 |
NET BOOK VALUE |
At 30th June 2024 |
At 30th June 2023 |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: 77 Camden Street, Lower Dublin, Dublin 2, Ireland, DO2 XE80 |
Nature of business: |
% |
Class of shares: | holding |
1€ | each |
2024 | 2023 |
£ | £ |
Aggregate capital and reserves |
Profit for the year |
Registered office: 310 Wellingborough Road, Northampton, United Kingdom, NN1 4EP |
Nature of business: |
% |
Class of shares: | holding |
Ordinary shares of £1 each |
2024 | 2023 |
£ | £ |
Aggregate capital and reserves |
Anand International Limited (Registered number: 01561946) |
Notes to the Financial Statements - continued |
For The Year Ended 30th June 2024 |
9. | FIXED ASSET INVESTMENTS - continued |
Registered office: 216 Melton Road, Leicester, Leicestershire, United Kingdom, LE4 7PG |
Nature of business: |
% |
Class of shares: | holding |
£ | £ |
Aggregate capital and reserves |
10. | STOCKS |
2024 | 2023 |
£ | £ |
Stocks |
Stock for resale comprises consumer batteries and smoking papers and filters. |
11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings | 15,940 | 10,261 |
Loans | 1,976,002 | 1,250,000 |
VAT |
Prepayments and accrued income |
12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Tax |
Social security and other taxes |
VAT | 46,831 | - |
Net wages | 46,567 | 41,600 |
Accruals and deferred income |
13. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
14. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax | 74,850 | 78,500 |
Anand International Limited (Registered number: 01561946) |
Notes to the Financial Statements - continued |
For The Year Ended 30th June 2024 |
14. | PROVISIONS FOR LIABILITIES - continued |
Deferred |
tax |
£ |
Balance at 1st July 2023 |
Provided during year | ( |
) |
Balance at 30th June 2024 |
The Deferred Tax Provision relates to accelerated capital allowances . |
15. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | 0.33 | 2 | 2 |
16. | RESERVES |
Retained |
earnings |
£ |
At 1st July 2023 |
Profit for the year |
Dividends | ( |
) |
At 30th June 2024 |
17. | CAPITAL COMMITMENTS |
2024 | 2023 |
£ | £ |
Contracted but not provided for in the |
financial statements |
There were no capital commitments at either the current or previous year end |
Anand International Limited (Registered number: 01561946) |
Notes to the Financial Statements - continued |
For The Year Ended 30th June 2024 |
18. | RELATED PARTY DISCLOSURES |
Dividends of £nil (2022: £90,000) were paid to a director and his wife who held all of the issued ordinary share capital of the company prior to a group re-organisation on 3 July 2023. |
The mother of a director of Anand International Limited was, prior to the group -reorganisation on 3 July 2023, the sole director and 100% shareholder in a company providing warehousing facilities to Anand International Limited. Transactions with the company were at arms' length and were as follows: |
Licence fee to occupy warehouse £324,000(2023: £326,850) |
Balance relating to licence fee to occupy warehouse owing to related party at year end £291,600 (2023: £97,200). |
Donations were made during the year to the Anand & Sethi Family Charity Trust of 182,824 (2023 : £179,340). This charity is registered in England & Wales. |
The mother of a director of Anand International Limited is a director of a company which is a supplier of Anand International Limited. Transactions with the company were at arm's length and were as follows: |
Purchases £16,170 (2023: £1,336,503) |
Balance owing to related party at year end £nil (2023: £nil) |
Sales £nil (2023: £nil). |
Balance owed by related party £nil (2023- £nil). |
The mother of a director of Anand International Limited is the sole director and 100% shareholder in a company who received a loan from Anand International Limited during the year. The loan is unsecured and repayable before 31st December 2024. Interest is being charged at 4% per annum. |
Loan balance owed from related party at year £700,000 (2022 - £1,250,000). |
19. | GROUP RE-ORGANISATION |
On 3 July 2023 there was a group re-organisation whereby Anand International Limited became a subsidiary of Anand Group Ltd . |
20. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
2024 | 2023 |
£ | £ |
Profit before taxation |
Depreciation charges |
Profit on disposal of fixed assets | ( |
) | ( |
) |
Finance income | (719,249 | ) | (356,621 | ) |
2,142,031 | 1,957,610 |
Decrease/(increase) in stocks | ( |
) |
(Increase)/decrease in trade and other debtors | ( |
) |
(Decrease)/increase in trade and other creditors | ( |
) |
Cash generated from operations |
Anand International Limited (Registered number: 01561946) |
Notes to the Financial Statements - continued |
For The Year Ended 30th June 2024 |
21. | CASH AND CASH EQUIVALENTS |
The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
Year ended 30th June 2024 |
30.6.24 | 1.7.23 |
£ | £ |
Cash and cash equivalents | 13,259,441 | 11,711,885 |
Year ended 30th June 2023 |
30.6.23 | 1.7.22 |
£ | £ |
Cash and cash equivalents | 11,711,885 | 7,018,241 |
22. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1.7.23 | Cash flow | At 30.6.24 |
£ | £ | £ |
Net cash |
Cash at bank | 11,711,885 | 1,547,556 | 13,259,441 |
11,711,885 | 13,259,441 |
Total | 11,711,885 | 1,547,556 | 13,259,441 |