2023-06-012024-05-312024-05-31false07633943A&K TRADERS (MCR) 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A&K TRADERS (MCR) LTD

Registered Number
07633943
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

A&K TRADERS (MCR) LTD
Company Information
for the year from 1 June 2023 to 31 May 2024

Directors

CHAUDHARY, Khuram Sajjad Ali
KHURAM, Ghazala

Registered Address

334 Slade Lane
Manchester
M19 2BL

Registered Number

07633943 (England and Wales)
A&K TRADERS (MCR) LTD
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets39,26210,835
9,26210,835
Current assets
Stocks4457,478354,926
Debtors7,2296,810
Cash at bank and on hand7,7261,912
472,433363,648
Creditors amounts falling due within one year5(300,645)(208,463)
Net current assets (liabilities)171,788155,185
Total assets less current liabilities181,050166,020
Creditors amounts falling due after one year6(28,190)(33,493)
Provisions for liabilities7(669)(728)
Net assets152,191131,799
Capital and reserves
Profit and loss account152,191131,799
Shareholders' funds152,191131,799
The financial statements were approved and authorised for issue by the Board of Directors on 21 February 2025, and are signed on its behalf by:
CHAUDHARY, Khuram Sajjad Ali
Director
Registered Company No. 07633943
A&K TRADERS (MCR) LTD
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Fixtures and fittings15
Vehicles10
Office Equipment25
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year55
3.Tangible fixed assets

Vehicles

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 June 233,19921,6291,29526,123
At 31 May 243,19921,6291,29526,123
Depreciation and impairment
At 01 June 231,49912,82396615,288
Charge for year1701,321821,573
At 31 May 241,66914,1441,04816,861
Net book value
At 31 May 241,5307,4852479,262
At 31 May 231,7008,80632910,835
4.Stocks

2024

2023

££
Finished goods457,478354,926
Total457,478354,926
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables172,239106,745
Bank borrowings and overdrafts6,4416,577
Taxation and social security22,13132,056
Other creditors97,35061,130
Accrued liabilities and deferred income2,4841,955
Total300,645208,463
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.
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts28,19033,493
Total28,19033,493
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)669728
Total669728