Company registration number 03776805 (England and Wales)
ARIF ESMAIL & CO LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
ARIF ESMAIL & CO LIMITED
COMPANY INFORMATION
Director
Mr A Esmail
Secretary
Mrs A K Esmail
Company number
03776805
Registered office
Unit 2 Folkes Road
Wootton
Bedford
MK43 9TE
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
NatWest Bank Plc
81 High Street
Bedford
MK40 1YN
ARIF ESMAIL & CO LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 6
ARIF ESMAIL & CO LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ARIF ESMAIL & CO LIMITED FOR THE YEAR ENDED 29 SEPTEMBER 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Arif Esmail & Co Limited for the year ended 29 September 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Arif Esmail & Co Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Arif Esmail & Co Limited and state those matters that we have agreed to state to the board of directors of Arif Esmail & Co Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Arif Esmail & Co Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Arif Esmail & Co Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Arif Esmail & Co Limited. You consider that Arif Esmail & Co Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Arif Esmail & Co Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ormerod Rutter Limited
27 November 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
ARIF ESMAIL & CO LIMITED
BALANCE SHEET
AS AT
29 SEPTEMBER 2024
29 September 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
30,890
36,946
Current assets
Stocks
40,244
38,326
Debtors
4
441,024
403,109
Cash at bank and in hand
827,577
682,883
1,308,845
1,124,318
Creditors: amounts falling due within one year
5
(196,605)
(128,029)
Net current assets
1,112,240
996,289
Total assets less current liabilities
1,143,130
1,033,235
Provisions for liabilities
6
(3,906)
(3,936)
Net assets
1,139,224
1,029,299
Capital and reserves
Called up share capital
7
2
2
Profit and loss reserves
1,139,222
1,029,297
Total equity
1,139,224
1,029,299

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 29 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 27 November 2024
Mr A Esmail
Director
Company registration number 03776805 (England and Wales)
ARIF ESMAIL & CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information

Arif Esmail & Co Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 2 Folkes Road, Wootton, Bedford, United Kingdom, MK43 9TE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
15% on reducing balance
Computer equipment
33% on cost
Motor vehicles
25% on reducing balance
1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

ARIF ESMAIL & CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
5
5
ARIF ESMAIL & CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 SEPTEMBER 2024
- 5 -
3
Tangible fixed assets
Fixtures and fittings
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 30 September 2023 and 29 September 2024
61,493
4,575
26,550
92,618
Depreciation and impairment
At 30 September 2023
29,393
4,455
21,824
55,672
Depreciation charged in the year
4,815
59
1,182
6,056
At 29 September 2024
34,208
4,514
23,006
61,728
Carrying amount
At 29 September 2024
27,285
61
3,544
30,890
At 29 September 2023
32,100
120
4,726
36,946
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
107,591
87,528
Other debtors
333,433
315,581
441,024
403,109
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
125,523
65,647
Taxation and social security
39,078
37,202
Other creditors
32,004
25,180
196,605
128,029
6
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
3,906
3,936
ARIF ESMAIL & CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 SEPTEMBER 2024
- 6 -
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
2
2
2
2
8
Directors' transactions

Advances or credits have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Interest charged
Amounts repaid
Closing balance
£
£
£
£
Loan account
2.25
302,892
3,707
(306,599)
-
302,892
3,707
(306,599)
-
9
Ultimate controlling party

The ultimate controlling party is Mr A Esmail.

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