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REGISTERED NUMBER: 07587965 (England and Wales)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

AMIRA G FOODS LIMITED

AMIRA G FOODS LIMITED (REGISTERED NUMBER: 07587965)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AMIRA G FOODS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: S K M Palaksha





REGISTERED OFFICE: Eaton House
Upper Grosvenor Street
London
W1K 2NG





REGISTERED NUMBER: 07587965 (England and Wales)





ACCOUNTANTS: Orcom Civvals Audit Limited
50 Seymour Street
London
W1H 7JG

AMIRA G FOODS LIMITED (REGISTERED NUMBER: 07587965)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 140 187

CURRENT ASSETS
Stocks 5 14,006 14,006
Debtors 6 37,867 48,640
Cash at bank - 4,171
51,873 66,817
CREDITORS
Amounts falling due within one year 7 (800,070 ) (746,567 )
NET CURRENT LIABILITIES (748,197 ) (679,750 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(748,057

)

(679,563

)

CREDITORS
Amounts falling due after more than
one year

8

(695,096

)

(729,813

)
NET LIABILITIES (1,443,153 ) (1,409,376 )

CAPITAL AND RESERVES
Called up share capital 9 9,703,500 9,703,500
Retained earnings (11,146,653 ) (11,112,876 )
SHAREHOLDERS' FUNDS (1,443,153 ) (1,409,376 )

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

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

The director acknowledges his 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.

AMIRA G FOODS LIMITED (REGISTERED NUMBER: 07587965)

BALANCE SHEET - continued
31 MARCH 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 by the director and authorised for issue on 17 March 2025 and were signed by:





S K M Palaksha - Director


AMIRA G FOODS LIMITED (REGISTERED NUMBER: 07587965)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Amira G Foods Limited 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 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.

Going concern
The directors consider that the company will have sufficient funds through funding from its ultimate parent company, Amira Nature Foods Ltd, to meet its liabilities as they fall due, for a period of 12 months from the date of approval of these financial statements.

The going concern basis is dependent on Amira Nature Foods Ltd not seeking repayment of the amounts currently due, directly or indirectly, to the group and providing additional financial support during that period.

Amira Nature Foods Ltd has indicated its intention to continue to make available such funds as are needed by the company, and that it does not seek repayment of the amounts due at the balance sheet date where the entity has insufficient liquidity to make such payments.

As with any company placing reliance on other group entities for financial support, the directors acknowledge that there can be no certainty that this support will continue although, at the date of approval of these financial statements, they have no reason to believe that it will not do so.

Consequently the directors are confident that the company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements and therefore have prepared the financial statements on a going concern basis.

Related party disclosures
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.

Significant judgements and estimates
The preparation of financial statements in conformity with FRS 102 requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. These estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances.

The estimates and underlying assumptions are reviewed on an ongoing basis. There has been no judgements made by management in the application of FRS 102 that have had a significant effect on the financial statements and estimates with a significant risk of material adjustment.

AMIRA G FOODS LIMITED (REGISTERED NUMBER: 07587965)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible assets are stated at cost of acquisition less accumulated depreciation and accumulated impairment, if any.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings25% on reducing balance

An item of tangible assets is no longer recognized upon disposal or when no future economic benefits are expected from its use. Any resulting gain or loss (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in the income statements in the year the asset is derecognized.

The assets residual values, useful lives and methods are reviewed by management, and adjusted if appropriate, at each reporting date.

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Stocks
Stocks are valued at the lower of cost and estimated selling price in the ordinary course of business less estimated costs of completion and selling expenses.

The costs of stocks are comprised of purchase price and expenses incurred to bring them to their present location and related taxes net of tax credit available, if any. Cost of such closing stocks are determined on first-in, first-out (FIFO) basis and the same cost formula has been used for all stock items having a similar nature and use.

At each reporting date, stocks are assessed to determine whether a provision for any impairment is required by comparing the carrying amount of each item of stock (or group of similar items) with its selling price less costs to complete and sell.

If an item of stock (or group of similar items) is impaired, the carrying amount of the stock (or the group of similar items) is reduced to its selling price less costs to complete and sell. That reduction is an impairment loss and it is recognised immediately in profit or loss

AMIRA G FOODS LIMITED (REGISTERED NUMBER: 07587965)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable.

Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash and other consideration, expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms of financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 3 ) .

AMIRA G FOODS LIMITED (REGISTERED NUMBER: 07587965)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2023
and 31 March 2024 1,871
DEPRECIATION
At 1 April 2023 1,684
Charge for year 47
At 31 March 2024 1,731
NET BOOK VALUE
At 31 March 2024 140
At 31 March 2023 187

5. STOCKS
2024 2023
£    £   
Stocks 14,006 14,006

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 12,875 -
Loan recoverable 21,221 20,747
VAT 3,771 27,893
37,867 48,640

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,648 10,648
Amounts owed to group undertakings 680,362 607,946
Social security and other taxes 20,123 50,595
Other creditors 63,145 58,712
Directors' current accounts 14,791 5,415
Accrued expenses 11,001 13,251
800,070 746,567

AMIRA G FOODS LIMITED (REGISTERED NUMBER: 07587965)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 10,648 10,648
Bank loans - 2-5 years 5,694 11,096
Other loans - 2-5 years 678,754 708,069
695,096 729,813

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
660,175 Ordinary £10 6,601,750 6,601,750
310,175 Preferred £10 3,101,750 3,101,750
9,703,500 9,703,500

10. RELATED PARTY DISCLOSURES

Included in Creditors at 31 March 2024 was a loan given to Amira G Foods Limited of £678,754 (2023: £708,069) by a shareholder in Amira Nature Foods Limited which is the ultimate parent company of Amira G Foods Limited.




11. POST BALANCE SHEET EVENTS

The company is in dispute with a supplier and is involved in an ongoing litigation process. The unpaid amount totalling £52,159 has been provided for in the financial statements. The outcome of the litigation process is uncertain.

There were no other material events subsequent to 31 March 2024 and up until the authorisation of the financial statements for issue, that have not been disclosed elsewhere in the financial statements.

12. ULTIMATE PARENT AND CONTROLLING PARTY

Amira I Grand Foods Inc, a company incorporated in British Virgin Islands, is the immediate controlling party and Amira Nature Foods Ltd, a company incorporated in the British Virgin Islands, is the ultimate parent company of Amira G Foods Limited.

Amira I Grand Foods Inc, a company incorporated in British Virgin Islands, is the smallest group and Amira Nature Foods Ltd, a company incorporated in the British Virgin Islands, is the largest group of which the company is a member.