Registered number
14706140
Zaitoon Halal Food Centre Limited
Filleted Accounts
31 March 2024
Zaitoon Halal Food Centre Limited
Registered number: 14706140
Balance Sheet
as at 31 March 2024
Notes 2024
£
Fixed assets
Tangible assets 3 349,943
Current assets
Stocks 85,000
Debtors 4 19,355
Cash at bank and in hand 6,962
111,317
Creditors: amounts falling due within one year 5 (120,947)
Net current liabilities (9,630)
Total assets less current liabilities 340,313
Creditors: amounts falling due after more than one year 6 (323,593)
Net assets 16,720
Capital and reserves
Called up share capital 5,000
Profit and loss account 11,720
Shareholders' funds 16,720
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Arifullah Shenwari
Director
Approved by the board on 29 November 2024
Zaitoon Halal Food Centre Limited
Notes to the Accounts
for the period from 19 April 2023 to 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings None
Plant and machinery 20% Reducing balance method
Fixtures, fittings, tools and equipment 20% Reducing balance method
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 carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024
Number
Average number of persons employed by the company 7
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
Additions 194,944 169,749 24,000 388,693
At 31 March 2024 194,944 169,749 24,000 388,693
Depreciation
Charge for the period - 33,950 4,800 38,750
At 31 March 2024 - 33,950 4,800 38,750
Net book value
At 31 March 2024 194,944 135,799 19,200 349,943
4 Debtors 2024
£
Trade debtors 8,323
Other debtors 11,032
19,355
5 Creditors: amounts falling due within one year 2024
£
Trade creditors 42,294
Taxation and social security costs 888
Other creditors 77,765
120,947
6 Creditors: amounts falling due after one year 2024
£
Other creditors 323,593
7 Contingent liabilities
The business has no contingent liabilities for year ended 31 March 2024.
8 Related party transactions
During the year the director account was in credit by £74,544. Business also borrowed £323,593 from immediate family which is interest free and is not due immediately. This loan will not be demanded to leave the company insolvent.
9 Controlling party
By virtue of shareholding and directorship Mr Arifullah Shenwari controls the company.
10 Going Concern
The director has reviewed a period of 12 months from the date of approving these financial statements and concluded that the company is able to meet its liabilities as they fall due. As a result it is appropriate to prepare these accounts on going concern basis.
11 Other information
Zaitoon Halal Food Centre Limited is a private company limited by shares and incorporated in England. Its registered office is:
252
Old Kent Road
London
SE1 5UB
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