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REGISTERED NUMBER: NI072701 (Northern Ireland)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

A&G Rasool Limited

A&G Rasool Limited (Registered number: NI072701)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


A&G Rasool Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: A Rasool
Mrs G Rasool



SECRETARY: Mrs G Rasool



REGISTERED OFFICE: Unit 4 Woodbourne Crescent
Belfast
Antrim
BT11 9TG



REGISTERED NUMBER: NI072701 (Northern Ireland)



ACCOUNTANTS: Toman Accountancy Services Ltd
Unit HF 9, Twin Spires Complex
Howard Buildings
155 Northumberland Street
Belfast
Antrim
BT13 2JF



BANKERS: Ulster Bank Ltd
Glengormley Branch
2 Farnley Road
Glengormley
Antrim
BT36 7QU



SOLICITORS: Elliott Duffy Garrett
Royston House
34 Upper Queen Street
Belfast
Co. Antrim
BT1 6FD

A&G Rasool Limited (Registered number: NI072701)

Statement of Financial Position
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 34,097 26,866
34,097 26,866

CURRENT ASSETS
Stocks 79,701 63,282
Debtors 6 23,325 56,976
Cash at bank and in hand 32,859 64,952
135,885 185,210
CREDITORS
Amounts falling due within one year 7 139,933 181,011
NET CURRENT (LIABILITIES)/ASSETS (4,048 ) 4,199
TOTAL ASSETS LESS CURRENT
LIABILITIES

30,049

31,065

PROVISIONS FOR LIABILITIES 6,479 5,105
NET ASSETS 23,570 25,960

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 23,568 25,958
SHAREHOLDERS' FUNDS 23,570 25,960

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

A&G Rasool Limited (Registered number: NI072701)

Statement of Financial Position - continued
31 May 2024


The 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.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 19 February 2025 and were signed on its behalf by:




A Rasool - Director



Mrs G Rasool - Director


A&G Rasool Limited (Registered number: NI072701)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

A&G Rasool Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In preparing these financial statements the director has made the following judgements:

Determine whether there are indicators of impairment of the company's fixed assets. Factors taken into account include economic viability and future expected financial performance of the business in general. Estimates are made in respect of the recoverable value of stock. When assessing the level of provisions required, factors considered include age and condition of stock. Amounts identified as irrecoverable will be provided against in the relevant period.

Consider the depreciation rates on an annual basis to ensure there is sufficient evidence to support these and that the estimates remains reasonable.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on 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.

Financial instruments
All financial statements of the company are considered to meet the definition of basic financial instruments.

-Short term debtors and creditors
Debtors and creditors with no stated interest rate and are receivable or payable on demand are recognised at transaction price, and subject to annual impairment reviews. Any losses arising on impairment are recognised in the profit and loss account.

-Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

A&G Rasool Limited (Registered number: NI072701)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Holiday pay accrual
A liability is recognised to the extent of any unused holiday pay entitlement which has accrued at the balance sheet date and is available to carry forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 35,000
AMORTISATION
At 1 June 2023
and 31 May 2024 35,000
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

A&G Rasool Limited (Registered number: NI072701)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 96,803
Additions 17,221
Disposals (14,214 )
At 31 May 2024 99,810
DEPRECIATION
At 1 June 2023 69,937
Charge for year 8,297
Eliminated on disposal (12,521 )
At 31 May 2024 65,713
NET BOOK VALUE
At 31 May 2024 34,097
At 31 May 2023 26,866

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Other debtors 23,325 56,976

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 19,967 56,583
Taxation and social security 23,337 32,654
Other creditors 96,629 91,774
139,933 181,011