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REGISTERED NUMBER: 14579582 (England and Wales)















Anand Group Ltd

Group Strategic Report, Report of the Directors and

Consolidated Financial Statements

For The Year Ended 30th June 2024






Anand Group Ltd (Registered number: 14579582)






Contents of the Consolidated Financial Statements
For The Year Ended 30th June 2024




Page

Company Information 1

Group Strategic Report 2 to 4

Report of the Directors 5

Report of the Independent Auditors 6 to 9

Consolidated Income Statement 10

Consolidated Other Comprehensive Income 11

Consolidated Balance Sheet 12

Company Balance Sheet 13

Consolidated Statement of Changes in Equity 14

Company Statement of Changes in Equity 15

Consolidated Cash Flow Statement 16

Notes to the Consolidated Cash Flow Statement 17

Notes to the Consolidated Financial Statements 18 to 25


Anand Group Ltd

Company Information
For The Year Ended 30th June 2024







DIRECTORS: H S Anand
Mrs J K Anand
Mrs H K Anand
Mrs J Sethi
K S Sethi





SECRETARY: H S Anand





REGISTERED OFFICE: Meridian House
Centurian Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WH





REGISTERED NUMBER: 14579582 (England and Wales)





AUDITORS: Cheney & Co
Statutory Auditor
310 Wellingborough Road
Northampton
NN1 4EP

Anand Group Ltd (Registered number: 14579582)

Group Strategic Report
For The Year Ended 30th June 2024

The directors present their strategic report of the company and the group for the year ended 30th June 2024.

REVIEW OF BUSINESS
The group's turnover has increased by 7% whilst the gross profit percentage achieved is similar to that achieved in 2023.
Both the group and parent company have a healthy net assets position as shown on the relevant statement of financial position.

The risks facing the group are those relating to technical innovations of products and of changes in the world economic climate on consumer, and therefore wholesaler demand. The group 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
Debtors days 37 43 42

Creditor days 21 39 21

Trading ratio 6.74% 10.07% 5.77%

Liquidity ratio 677.96% 449.41% 653.66%


PRINCIPAL RISKS AND UNCERTAINTIES
The risks facing the group 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 Group Ltd (Registered number: 14579582)

Group 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 group and its parent 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 parent company and its subsidiaries for the benefit of the members. Specifically, the directors have considered the following:-
a. The likely consequences of any decision in the long term;
b. The interests of the group's employees;
c. The need to foster the group's business relationships with suppliers , customers and others;
d. The impact of the operations of the group on the community and the environment;
e. The desirability of the group maintaining a reputation for high standards of business conduct; and
f. The need to act fairly between members of the parent company which controls all the wholly owned subsidiaries

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 group's employees.
The directors recognise that the group'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 group'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 group is committed to maintaining good customer relations and continues to spend considerable time to ensure customer satisfaction.

S172(1) (d) The impact of the group's operations on the community and the environment.
The group 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 group purchases from supplier companies which recycle batteries.

S172 (1) (e) The desirability of the group maintaining a reputation for high standards of business conduct.
The group 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 the parent company.
The parent company is a family run company where the long term ties of kindred and friendship combine to produce a courteous and a respectful atmosphere.The wholly owned subsidiary companies are run on the same lines.

RESEARCH AND DEVELOPMENT AND FUTURE DEVELOPMENTS
The group does not manufacture or develop the products which it sells but purchases them on a wholesale
basis.

The group 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 group does not have any bank borrowings. The group 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 Group Ltd (Registered number: 14579582)

Group 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:





H S Anand - Director


7th January 2025

Anand Group Ltd (Registered number: 14579582)

Report of the Directors
For The Year Ended 30th June 2024

The directors present their report with the financial statements of the company and the group for the year ended 30th June 2024.

DIVIDENDS
No dividends will be distributed for the year ended 30th June 2024.

The interim dividends paid by the group amounted to £nil ( 2023:£90,000).

DIRECTORS
H S Anand has held office during the whole of the period from 1st July 2023 to the date of this report.

Other changes in directors holding office are as follows:

Mrs J K Anand - appointed 3rd July 2023
Mrs H K Anand - appointed 3rd July 2023
Mrs J Sethi - appointed 29th January 2024
K S Sethi - appointed 29th January 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group'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:





H S Anand - Director


7th January 2025

Report of the Independent Auditors to the Members of
Anand Group Ltd

Opinion
We have audited the financial statements of Anand Group Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 30th June 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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 group's and of the parent company affairs as at 30th June 2024 and of the group's 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 qualified 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 group 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. The financial statements for the subsidiary company , Anand Distribution Limited ,for the comparative period , the 18 months to 30th June 2023 were not audited .In the current year , on 3rd July 2023, Anand Distribution Limited became a subsidiary of a non -small group and therefore required an audit under the Companies Act 2006.The comparatives in the Statement of Income and Retained Earnings for the 18 Months to 30th June 2023 have not been audited by us and therefore we can express no opinion . The opening balances at 1st July 2023 have been
subject to extensive audit work by us and we are satisfied that they do not contain material misstatements.

The financial statements for the sub-subsidiary company, Daewoo International ( Europe) Ltd for the comparative period , the year to 31st October 2022 were not audited .In the current period , on 3rd July 2023, Daewoo International ( Europe ) Ltd became a subsidiary of a non -small group and therefore required an audit under the Companies Act 2006.The comparatives in the Statement of Income and Retained Earnings for the year ended 31st October 2022 have not been audited by us and therefore we can express no opinion . The opening balances at 1st November 2022 have been subject to extensive audit work by us and we are satisfied that they do not contain material misstatements.

This means that certain elements of the comparative figures in the Income Statement have not been audited by us and we cannot therefore express an opinion. However on consolidation intra -group sales and purchases have been netted out.

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 group's and the parent 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 Group 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.

Report of the Independent Auditors to the Members of
Anand Group Ltd


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 Group 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 Group 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company 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.

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 group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Anand Group Ltd


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 parent company and group 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 group has Marine Insurance for goods being exported via ship on the oceans of the world.

We obtained an understanding of how the parent company and group are 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 parent company and the group 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 parent company and the group 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 Group Ltd


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.




Paul Sparks FCA FCCA (Senior Statutory Auditor)
for and on behalf of Cheney & Co
Statutory Auditor
310 Wellingborough Road
Northampton
NN1 4EP

7th January 2025

Anand Group Ltd (Registered number: 14579582)

Consolidated
Income Statement
For The Year Ended 30th June 2024

2024 2023
Notes £    £   

TURNOVER 3 55,278,437 51,800,209

Cost of sales (50,115,242 ) (46,877,348 )
GROSS PROFIT 5,163,195 4,922,861

Distribution costs (178,639 ) (186,056 )
Administrative expenses (2,795,091 ) (2,388,673 )
OPERATING PROFIT 5 2,189,465 2,348,132

Interest receivable and similar income 739,250 428,244
2,928,715 2,776,376
Amounts written off investments 6 (913,750 ) (1,100,000 )
PROFIT BEFORE TAXATION 2,014,965 1,676,376

Tax on profit 7 (744,148 ) (590,058 )
PROFIT FOR THE FINANCIAL YEAR 1,270,817 1,086,318
Profit attributable to:
Owners of the parent 1,270,817 1,086,318

Anand Group Ltd (Registered number: 14579582)

Consolidated
Other Comprehensive Income
For The Year Ended 30th June 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 1,270,817 1,086,318


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

1,270,817

1,086,318

Total comprehensive income attributable to:
Owners of the parent 1,270,817 1,086,318

Anand Group Ltd (Registered number: 14579582)

Consolidated Balance Sheet
30th June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 10 1,218,199 1,236,638
Investments 11 - 913,750
1,218,199 2,150,388

CURRENT ASSETS
Stocks 12 3,379,241 4,719,047
Debtors 13 7,728,904 8,258,862
Cash at bank and in hand 14,066,689 11,794,990
25,174,834 24,772,899
CREDITORS
Amounts falling due within one year 14 3,713,335 5,512,262
NET CURRENT ASSETS 21,461,499 19,260,637
TOTAL ASSETS LESS CURRENT
LIABILITIES

22,679,698

21,411,025

PROVISIONS FOR LIABILITIES 16 75,800 78,564
NET ASSETS 22,603,898 21,332,461

CAPITAL AND RESERVES
Called up share capital 17 720 100
Retained earnings 18 22,603,178 21,332,361
SHAREHOLDERS' FUNDS 22,603,898 21,332,461

The financial statements were approved by the Board of Directors and authorised for issue on 7th January 2025 and were signed on its behalf by:





H S Anand - Director


Anand Group Ltd (Registered number: 14579582)

Company Balance Sheet
30th June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 10 - -
Investments 11 620 -
620 -

CURRENT ASSETS
Debtors 13 336 -
Cash at bank and in hand 150,305 100
150,641 100
CREDITORS
Amounts falling due within one year 14 16,077 -
NET CURRENT ASSETS 134,564 100
TOTAL ASSETS LESS CURRENT
LIABILITIES

135,184

100

CAPITAL AND RESERVES
Called up share capital 17 720 100
Retained earnings 18 134,464 -
SHAREHOLDERS' FUNDS 135,184 100

Company's profit for the financial year 134,464 -

The financial statements were approved by the Board of Directors and authorised for issue on 7th January 2025 and were signed on its behalf by:





H S Anand - Director


Anand Group Ltd (Registered number: 14579582)

Consolidated 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 - 20,336,043 20,336,043

Changes in equity
Issue of share capital 100 - 100
Dividends - (90,000 ) (90,000 )
Total comprehensive income - 1,086,318 1,086,318
Balance at 30th June 2023 100 21,332,361 21,332,461

Changes in equity
Issue of share capital 620 - 620
Total comprehensive income - 1,270,817 1,270,817
Balance at 30th June 2024 720 22,603,178 22,603,898

Anand Group Ltd (Registered number: 14579582)

Company Statement of Changes in Equity
For The Year Ended 30th June 2024

Called up
share Retained Total
capital earnings equity
£    £    £   

Changes in equity
Issue of share capital 100 - 100
Balance at 30th June 2023 100 - 100

Changes in equity
Issue of share capital 620 - 620
Total comprehensive income - 134,464 134,464
Balance at 30th June 2024 720 134,464 135,184

Anand Group Ltd (Registered number: 14579582)

Consolidated Cash Flow Statement
For The Year Ended 30th June 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 2,194,883 3,488,684
Tax paid (542,587 ) (473,288 )
Net cash from operating activities 1,652,296 3,015,396

Cash flows from investing activities
Purchase of tangible fixed assets (157,447 ) (306,299 )
Sale of tangible fixed assets 36,980 102,723
Interest received 739,250 428,244
Net cash from investing activities 618,783 224,668

Cash flows from financing activities
Capital repayments in year - (76,413 )
Share issue 620 100
Equity dividends paid - (90,000 )
Net cash from financing activities 620 (166,313 )

Increase in cash and cash equivalents 2,271,699 3,073,751
Cash and cash equivalents at beginning
of year

2

11,794,990

8,721,239

Cash and cash equivalents at end of year 2 14,066,689 11,794,990

Anand Group Ltd (Registered number: 14579582)

Notes to the Consolidated Cash Flow Statement
For The Year Ended 30th June 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024 2023
£    £   
Profit before taxation 2,014,965 1,676,376
Depreciation charges 141,205 107,834
Profit on disposal of fixed assets (2,299 ) (27,138 )
Impairment of Fixed Asset Investment 913,750 1,100,000
Finance income (739,250 ) (428,244 )
2,328,371 2,428,828
Decrease/(increase) in stocks 1,339,806 (176,231 )
Decrease in trade and other debtors 529,958 345,337
(Decrease)/increase in trade and other creditors (2,003,252 ) 890,750
Cash generated from operations 2,194,883 3,488,684

2. 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 14,066,689 11,794,990
Year ended 30th June 2023
30.6.23 1.7.22
£    £   
Cash and cash equivalents 11,794,990 8,721,239


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.7.23 Cash flow At 30.6.24
£    £    £   
Net cash
Cash at bank and in hand 11,794,990 2,271,699 14,066,689
11,794,990 2,271,699 14,066,689
Total 11,794,990 2,271,699 14,066,689

Anand Group Ltd (Registered number: 14579582)

Notes to the Consolidated Financial Statements
For The Year Ended 30th June 2024

1. STATUTORY INFORMATION

Anand Group Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Anand Group Limited was formed on the 9th January 2023 in order to re-organise the group administratively by facilitating the share for share exchange of new shareholdings in ,a new parent company, Anand Group Limited in exchange for shareholdings in Anand International Limited and Anand Distribution Limited on 3rd July 2023.

Anand Group Limited is a parent company with 2 directly and 4 indirectly wholly owned subsidiaries , all private limited companies , limited by share capital as follows:

Anand International Limited ( England & Wales) which is a trading company selling consumer batteries and smoking requisites on a wholesale basis.Anand International Limited has three subsidiary companies.

Tee Tee Co.Limited (England & Wales) and House of Batteries Holdings Limited (England & Wales) are dormant and are held to protect the trade names .30th June 2023

Anand Emerald Ltd ( Ireland) is effectively a branch selling operation which sells locally on wholesale terms to Republic of Ireland ( ROI) customers products sourced only 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.

Anand Distribution Limited ( England & Wales) is the company which owns the warehouse from which the group trades and it has one subsidiary company, Daewoo International Europe Ltd which traded in broadly the same sector as Anand International Limited , but on a very much smaller scale, until it ceased trading on 31st January 2024.

Accordingly consolidated financial statements have been prepared on the merger accounting method as the subsidiary companies were all acquired on a share for share exchange , with no cash or cash equivalent consideration passing ,on the first day of the trading in the year to 30th June 2024, namely Monday 3rd July 2023.

The merger accounting rules use existing cost values with no requirement to use fair values in the acquisition. The merger accounting rules require that comparative figures for the year ended 30th June 2023 are presented as if the business combination at 3rd July 2023 had existed in exactly the same form in the previous accounting period .

Basis of consolidation
Consolidated financial statements have been prepared on the merger accounting method as the subsidiary companies were all acquired on a share for share exchange , with no cash or cash equivalent consideration passing ,on the first trading day of the trading year to 30th June 2024, namely Monday 3rd July 2023.

The merger accounting rules use existing cost values with no requirement to use fair values in the acquisition. The merger accounting rules also require that comparative figures for the year ended 30th June 2023 are presented as if the business combination at 3rd July 2023 had existed in exactly the same form in the previous accounting period .

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Anand Group Ltd (Registered number: 14579582)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 30th June 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% on reducing balance and 15% on reducing balance
Motor vehicles - 25% on reducing balance

The freehold property is owned by a subsidiary company and is used by the group as the business centre with offices and a warehouse with substantial loading and unloading areas used by group companies in their trade .
The freehold property is being depreciated evenly over its useful economic life of 50 years.
The freehold property is included at its 2004 historical cost and accumulated depreciation thereon as allowed under the merger accounting rules.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

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 group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by geographical market is given below:

2024 2023
£    £   
United Kingdom 45,409,206 42,233,307
Rest of world 9,869,231 9,566,902
55,278,437 51,800,209

Anand Group Ltd (Registered number: 14579582)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 30th June 2024

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 1,471,443 1,308,288
Social security costs 153,878 137,323
Other pension costs 213,466 249,872
1,838,787 1,695,483

The average number of employees during the year was as follows:
2024 2023

Directors 4 1
Staff 39 38
43 39

The average number of employees by undertakings that were proportionately consolidated during the year was 43 (2023 - 39 ) .

2024 2023
£    £   
Directors' remuneration 91,886 42,292

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 2 1

The directors' remuneration disclosed above was paid by subsidiary companies in respect of directors that were in office in coterminous periods in the subsidiary companies and in the parent company and included the appropriate benefits in kind amounts.
Pension contributions paid by subsidiary companies for the benefit of directors that were in office for coterminous periods in the subsidiary companies and in the parent company within the year to 30th June 2024 amounted to £56,767 (2023-£18,959).

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Other operating leases 10,164 4,866
Depreciation - owned assets 141,205 107,834
Profit on disposal of fixed assets (2,299 ) (27,138 )
Auditors' remuneration 24,000 17,876

6. AMOUNTS WRITTEN OFF INVESTMENTS
2024 2023
£    £   
Impairment write down 913,750 1,100,000

Anand Group Ltd (Registered number: 14579582)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 30th June 2024

7. 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 746,913 525,533

Deferred tax (2,765 ) 64,525
Tax on profit 744,148 590,058

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 2,014,965 1,676,376
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2023 - 20.500 %)

503,741

343,657

Effects of:
Expenses not deductible for tax purposes 228,438 225,500
Income not taxable for tax purposes (575 ) (5,563 )
Capital allowances in excess of depreciation - (39,821 )
Depreciation in excess of capital allowances 18,115 -
Rounding (2,806 ) 1,760
Deferred taxation (2,765 ) 64,525
Total tax charge 744,148 590,058

8. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


9. DIVIDENDS
2024 2023
£    £   
Ordinary shares of £1 each
Interim - 90,000

Anand Group Ltd (Registered number: 14579582)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 30th June 2024

10. TANGIBLE FIXED ASSETS

Group
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1st July 2023 1,325,532 751,965 305,278 2,382,775
Additions - 70,452 86,995 157,447
Disposals - (10,692 ) (51,000 ) (61,692 )
At 30th June 2024 1,325,532 811,725 341,273 2,478,530
DEPRECIATION
At 1st July 2023 503,703 548,564 93,870 1,146,137
Charge for year 26,511 57,036 57,658 141,205
Eliminated on disposal - (10,542 ) (16,469 ) (27,011 )
At 30th June 2024 530,214 595,058 135,059 1,260,331
NET BOOK VALUE
At 30th June 2024 795,318 216,667 206,214 1,218,199
At 30th June 2023 821,829 203,401 211,408 1,236,638

The freehold property is owned by a subsidiary company and is used by the group as the business centre with offices and a warehouse with substantial loading and unloading areas used by group companies in their trade .
The freehold property is being depreciated evenly over its useful economic life of 50 years.
The freehold property is included at its 2004 historical cost and accumulated depreciation thereon as allowed under the merger accounting rules.

11. FIXED ASSET INVESTMENTS

Group
Shares in
group
undertakings
£   
COST
At 1st July 2023 913,750
Impairments (913,750 )
At 30th June 2024 -
NET BOOK VALUE
At 30th June 2024 -
At 30th June 2023 913,750
Company
Shares in
group
undertakings
£   
COST
Additions 620
At 30th June 2024 620
NET BOOK VALUE
At 30th June 2024 620


Anand Group Ltd (Registered number: 14579582)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 30th June 2024

11. FIXED ASSET INVESTMENTS - continued


On 22nd February 2021 Anand Distribution Limited acquired 100% of the issued ordinary share capital of Daewoo International ( Europe) Ltd amounting to four ordinary shares of £1 each for £2,013,750.In the 18 month period to 30th June 2023 dividends were received from Daewoo International ( Europe ) Ltd amounting to £1,100,000 reduced the underlying of the investment leading to an equivalent impairment , resulting a balance of £913,750 brought forward at 1st July 2023 which was further impaired in the current year by dividends of £913,750 leaving only £4 asset value in the subsidiary at 30th June 2024.The assets and trade have been hived up into Anand Distribution Limited by way of dividends in cash & specie.

12. STOCKS

Group
2024 2023
£    £   
Stocks 3,379,241 4,719,047

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade debtors 5,595,280 6,033,866 - -
Other debtors 337 - 336 -
Loans 1,976,002 1,800,000 - -
VAT - 271,421 - -
Prepayments and accrued income 157,285 153,575 - -
7,728,904 8,258,862 336 -

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade creditors 2,934,506 5,069,800 - -
Amounts owed to group undertakings - - 15,940 -
Tax 318,140 113,814 137 -
Social security and other taxes 44,287 47,272 - -
VAT 60,532 - - -
Other creditors - 2,688 - -
Net Wages 48,007 41,600 - -
Accruals and deferred income 307,863 237,088 - -
3,713,335 5,512,262 16,077 -

15. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Non-cancellable operating leases
2024 2023
£    £   
Within one year 19,973 19,973
Between one and five years 4,963 24,936
24,936 44,909

Anand Group Ltd (Registered number: 14579582)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 30th June 2024

16. PROVISIONS FOR LIABILITIES

Group
2024 2023
£    £   
Deferred tax 75,800 78,564

Group
Deferred
tax
£   
Balance at 1st July 2023 78,564
Credit to Income Statement during year (2,764 )
Balance at 30th June 2024 75,800

The deferred taxation provision relates to the taxation effect of accelerated capital allowances .

17. CALLED UP SHARE CAPITAL

On 9th January 2023 100 Ordinary Shares £1 nominal value shares were issued for cash with a further 620 Ordinary Shares £1 nominal value issued on 3rd July 2023 pursuant to a share for share exchange agreement between the shareholders of Anand International Limited and Anand Group Limited and between the shareholders of Anand Distribution Limited and Anand Group Limited.

18. RESERVES

Group
Retained
earnings
£   

At 1st July 2023 21,332,361
Profit for the year 1,270,817
At 30th June 2024 22,603,178

Company
Retained
earnings
£   

Profit for the year 134,464
At 30th June 2024 134,464


19. ULTIMATE PARENT COMPANY

Anand Group Limited is regarded by the directors as being the company's ultimate parent company.

20. ULTIMATE CONTROLLING PARTY

HS Anand and his wife Mrs J K Anand together hold 83.33% of the issued ordinary share capital of Anand Group Limited.

Anand Group Ltd (Registered number: 14579582)

Notes to the Consolidated Financial Statements - continued
For The Year Ended 30th June 2024

21. GROUP RE-ORGANISATION

Anand Group Limited was formed on the 9th January 2023 in order to re-organise the group administratively by facilitating the share for share exchange of new shareholdings in ,a new parent company, Anand Group Limited in exchange for shareholdings in Anand International Limited and Anand Distribution Limited on 3rd July 2023.

Anand Group Limited is a parent company with 2 directly and 4 indirectly wholly owned subsidiaries , all private limited companies , limited by share capital as follows:

Anand International Limited ( England & Wales) which is a trading company selling consumer batteries and smoking requisites on a wholesale basis.Anand International Limited has three subsidiary companies.

Tee Tee Co.Limited (England & Wales) and House of Batteries Holdings Limited (England & Wales) are dormant and are held to protect the trade names .30th June 2023

Anand Emerald Ltd ( Ireland) is effectively a branch selling operation which sells locally on wholesale terms to Republic of Ireland ( ROI) customers products sourced only 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.

Anand Distribution Limited ( England & Wales) is the company which owns the warehouse from which the group trades and it has one subsidiary company, Daewoo International Europe Ltd which traded in broadly the same sector as Anand International Limited , but on a very much smaller scale, until it ceased trading on 31st January 2024.

Accordingly consolidated financial statements have been prepared on the merger accounting method as the subsidiary companies were all acquired on a share for share exchange , with no cash or cash equivalent consideration passing ,on the first day of the trading in the year to 30th June 2024, namely Monday 3rd July 2023.

The merger accounting rules use existing cost values with no requirement to use fair values in the acquisition. The merger accounting rules require that comparative figures for the year ended 30th June 2023 are presented as if the business combination at 3rd July 2023 had existed in exactly the same form in the previous accounting period .