2 2 ASN Commerce Limited 12113427 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is Retail and wholesale of spices Digita Accounts Production Advanced 6.30.9574.0 true 12113427 2023-08-01 2024-07-31 12113427 2024-07-31 12113427 bus:OrdinaryShareClass1 bus:CumulativeShares 2024-07-31 12113427 core:CurrentFinancialInstruments 2024-07-31 12113427 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 12113427 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-07-31 12113427 bus:SmallEntities 2023-08-01 2024-07-31 12113427 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 12113427 bus:FilletedAccounts 2023-08-01 2024-07-31 12113427 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 12113427 bus:RegisteredOffice 2023-08-01 2024-07-31 12113427 bus:Director1 2023-08-01 2024-07-31 12113427 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-08-01 2024-07-31 12113427 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 12113427 bus:Agent1 2023-08-01 2024-07-31 12113427 core:KeyManagementPersonnel 2023-08-01 2024-07-31 12113427 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-08-01 2024-07-31 12113427 countries:EnglandWales 2023-08-01 2024-07-31 12113427 2023-07-31 12113427 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-07-31 12113427 2022-08-01 2023-07-31 12113427 2023-07-31 12113427 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-07-31 12113427 core:CurrentFinancialInstruments 2023-07-31 12113427 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 12113427 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-07-31 12113427 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-08-01 2023-07-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 12113427

ASN Commerce Limited

trading as Baharat

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

ASN Commerce Limited

trading as Baharat

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

ASN Commerce Limited

trading as Baharat

Company Information

Director

Mr Alpaslan Sarioglu

Registered office

7 Bell Yard
London
WC2A 2JR

Accountants

Accentis Limited Parallel House
32 London Road
Guildford
GU1 2AB

 

ASN Commerce Limited

trading as Baharat

(Registration number: 12113427)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

-

792

Cash at bank and in hand

 

21,167

7,685

 

21,167

8,477

Creditors: Amounts falling due within one year

5

(32,033)

(37,729)

Net liabilities

 

(10,866)

(29,252)

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

(10,966)

(29,352)

Shareholders' deficit

 

(10,866)

(29,252)

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 31 March 2025
 

.........................................
Mr Alpaslan Sarioglu
Director

 

ASN Commerce Limited

trading as Baharat

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7 Bell Yard
London
WC2A 2JR
United Kingdom

These financial statements were authorised for issue by the director on 31 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

ASN Commerce Limited

trading as Baharat

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

ASN Commerce Limited

trading as Baharat

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Debtors

Current

2024
£

2023
£

Other debtors

-

792

 

-

792

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

1,209

1,442

Trade creditors

 

1,374

30,777

Taxation and social security

 

10,120

5,371

Other creditors

 

19,330

139

 

32,033

37,729

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

7

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

1,209

1,442

8

Related party transactions

 

ASN Commerce Limited

trading as Baharat

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

24,123

14,282

Loans from related parties

2024

Key management
£

Total
£

At start of period

787

787

Advanced

17,276

17,276

At end of period

18,063

18,063

2023

Key management
£

Total
£

Advanced

787

787

At end of period

787

787

Terms of loans from related parties

A Sarioglu, a Director has provided working capital, when required. This loan is interest free and repayable upon demand.