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REGISTERED NUMBER: 13517572 (England and Wales)









RKA CARDIFF HOLDINGS LIMITED

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024






RKA CARDIFF HOLDINGS LIMITED (REGISTERED NUMBER: 13517572)






CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 5

Report of the Independent Auditors 7

Consolidated Statement of Comprehensive Income 11

Consolidated Balance Sheet 12

Company Balance Sheet 13

Consolidated Statement of Changes in Equity 14

Company Statement of Changes in Equity 15

Consolidated Cash Flow Statement 16

Notes to the Consolidated Financial Statements 17


RKA CARDIFF HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: R K Aggarwal
Mrs U R Aggarwal





REGISTERED OFFICE: Churchgate House
3 Church Road
Whitchurch
Cardiff
CF14 2DX





REGISTERED NUMBER: 13517572 (England and Wales)





AUDITORS: HODGE BAKSHI LIMITED
STATUTORY AUDITORS
Churchgate House
3 Church Road
Whitchurch
Cardiff
CF14 2DX

RKA CARDIFF HOLDINGS LIMITED (REGISTERED NUMBER: 13517572)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

The directors present their strategic report of the company and the group for the year ended 30 September 2024.

PRINCIPAL ACTIVITIES AND REVIEW OF BUSINESS
The principal activity of the group during the year continued to be dispensing chemists, retail chemists and online retailers.

The directors are encouraged by the group's results for the year. Despite an annualised sales decrease of 14.85% the gross profit margin has increased to 14.01%, showing a more robust and cost-efficient sales process. Margins have increased at the expense of sales revenue, with the group loyalty scheme being successful in attracting repeat customers. Stock levels as planned have been significantly reduced over the year. The directors aim to reduce stock further within the coming year. The directors ultimately believe their efforts in this, and the prior year have now put the group in a good position to maintain profitable.

A key strength of the group is its ability to distribute orders efficiently to many customers. This has been enhanced in recent years by its investment in its online sales platform. Details of the group's performance for the year are set out within this report.

Uncertainties in the UK economic recovery, including rising inflation, have had a real impact on household disposable income to spend on cosmetics. However, the slight shift in the Bank of England's forecast underlines that, slowly and subtly, the economy is showing signs of recovery or at the very least a less bleak outlook than was previously expected. It is therefore anticipated that real household disposable income will remain flat in the near term, rather than falling significantly as had been previously expected. However, when assessing the reasonableness of the group's estimates made by the directors, such as the recoverability of debtors and related disclosures, the appropriateness of the going concern assumptions is also relevant in understanding the financial statements. All of these depend on assessments of the future economic environment and the group's future prospects and performance.


RKA CARDIFF HOLDINGS LIMITED (REGISTERED NUMBER: 13517572)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

PRINCIPAL RISKS AND UNCERTAINTIES
The Management team continually monitor the key risks facing the group together with assessing the controls used for managing these risks. The board of directors formally reviews and documents the principal risks facing the business at least annually.

The principal risks and uncertainties facing the group are as follows;

Economic downturn - The group acknowledges the importance of maintaining close relationships with its key customers in order to be able to identify the early signs of potential financial difficulties. Sales trends in its major markets are constantly reviewed to enable early action to be taken in the event of sales declining.

Competitive pressure - In the general economic environment is a continuing risk to the group as is the ability of suppliers to keep pace with the competition. The group manages this risk by providing fast response times in fulfilling sales orders and by maintaining strong relationships with key customers and suppliers throughout the world.

Reliance on key customers - The group's purchasing activities could expose it to over reliance on certain suppliers and inflationary pricing pressure. The group manages this risk by ensuring there is enough breadth in its supplier base and by constantly seeking to find potential alternative suppliers that may be used, if necessary.

Loss of key personnel - This would present significant operational difficulties for the group. Management seek to ensure that key personnel are appropriately remunerated to ensure that good performance is recognised.

Financial risk management - The main financial risks arising from the group's activities are credit risk, liquidity risk, foreign exchange risk, interest rate risk and price risk.

Credit risk - The group limits its exposure to credit risk. It is group policy to assess the credit risk of all customers before entering into a trading relationship and to ensure that credit risk is kept to a minimum.

Liquidity risk - The operations of the group are financed through robust management of the group's working capital requirement and treasury function. The group's policy to manage liquidity risk and cash flow risk is to ensure that adequate funds are held in readily accessible current accounts to meet the working capital requirements of the group. The directors of the group monitor these risks carefully and, when appropriate, steps are taken to ensure liquidity risk and cash flow risk are reduced.

Foreign exchange risk - The group sources products from abroad and is therefore subject to foreign exchange movements. This risk is managed by regular and consistent monitoring of exchange rates.

Price risk - The group does not enter into hedging arrangements and as such is not exposed to price risk.

Interest rate risk - The group does not have any long term borrowings and is therefore not exposed to interest rate risk as a result of increases in the base interest rate.


RKA CARDIFF HOLDINGS LIMITED (REGISTERED NUMBER: 13517572)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

KEY PERFORMANCE INDICATORS
The directors consider the following key performance indicators of the group:

Year end 30 September 2024 Year end 30 September 2023

Turnover £27,258,474 £32,013,643
Gross profit £3,819,089 £4,372,486
Gross profit margin % 14.01% 13.66%
EBITDA £119,528 £386,621
(Loss) / Profit before tax £192,170 £327,475

FUTURE DEVELOPMENTS
The directors aim to maintain the management policies which have resulted in the development of the group in recent years. They believe the group is well placed in the market and will continue to trade successfully.

RESEARCH AND DEVELOPMENT
The group will continue its policy of research and development in order to retain a competitive position in the market. All research and development expenditure is written off to the income statement as it is incurred.

ON BEHALF OF THE BOARD:





R K Aggarwal - Director


13 June 2025

RKA CARDIFF HOLDINGS LIMITED (REGISTERED NUMBER: 13517572)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

The directors present their report with the financial statements of the company and the group for the year ended 30 September 2024.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of was that of a dispensing chemists, retail chemists and online retailers.

DIVIDENDS
No dividends will be distributed for the year ended 30 September 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 October 2023 to the date of this report.

R K Aggarwal
Mrs U R Aggarwal

POLITICAL DONATIONS AND EXPENDITURE
During the year, the company made charitable donations totalling £28,450 (2023: £50). These were made to a range of UK registered charities and community organisations. No political donations were made during the year.

DIRECTORS BENEFICIAL INTEREST IN SHARES
The beneficial interests of the directors holding office at 30 September 2024 in the shares of the RKA Cardiff Holdings Limited, according to the registers' interest, were as follows:


Ordinary A £1 Shares 30.09.24 30.09.23

RK Aggarwal 108 108
Mrs UR Aggarwal 2 2

GOING CONCERN
The directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future, therefore it continues to adopt the going concern basis for accounting in preparing the annual financial statements.

DISCLOSURE IN THE STRATEGIC REPORT
Information relating to future developments, principal risks and uncertainties and research and development activities are disclosed within the strategic report.


RKA CARDIFF HOLDINGS LIMITED (REGISTERED NUMBER: 13517572)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, HODGE BAKSHI LIMITED, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





R K Aggarwal - Director


13 June 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
RKA CARDIFF HOLDINGS LIMITED

Opinion
We have audited the financial statements of RKA Cardiff Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 September 2024 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 30 September 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
RKA CARDIFF HOLDINGS LIMITED


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page six, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
RKA CARDIFF HOLDINGS LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The group is subject to laws and regulations that directly affect the financial statements including financial reporting legislation. We determined that the following laws and regulations were most significant including UK Companies Act, employment law, health and safety law and tax legislation. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

We understood how the group is complying with those legal and regulatory frameworks by, making inquiries to management, those responsible for legal and compliance procedures and a review of legal and professional spend for the year.

The engagement partner assessed whether the engagement team collectively had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations. The assessment did not identify any issues in this area.

We assessed the susceptibility of the group financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:

- Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;

- Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;

- Challenging assumptions and judgments made by management in its significant accounting estimates; and

- Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
RKA CARDIFF HOLDINGS LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




James Burnett ACA ACCA (Senior Statutory Auditor)
for and on behalf of HODGE BAKSHI LIMITED
STATUTORY AUDITORS
Churchgate House
3 Church Road
Whitchurch
Cardiff
CF14 2DX

13 June 2025

RKA CARDIFF HOLDINGS LIMITED (REGISTERED NUMBER: 13517572)

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2024 2023
Notes £    £   

TURNOVER 3 27,258,474 32,013,643

Cost of sales 23,439,385 27,641,157
GROSS PROFIT 3,819,089 4,372,486

Administrative expenses 3,886,557 4,178,471
(67,468 ) 194,015

Other operating income 4 143,001 125,224
OPERATING PROFIT 6 75,533 319,239

Interest receivable and similar income 116,637 8,236
PROFIT BEFORE TAXATION 192,170 327,475

Tax on profit 7 66,194 75,842
PROFIT FOR THE FINANCIAL
YEAR

125,976

251,633

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE
INCOME FOR THE YEAR

125,976

251,633

Profit attributable to:
Owners of the parent 125,976 251,633

Total comprehensive income attributable to:
Owners of the parent 125,976 251,633

RKA CARDIFF HOLDINGS LIMITED (REGISTERED NUMBER: 13517572)

CONSOLIDATED BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 120,784 144,872
Investments 10 15,900 15,900
136,684 160,772

CURRENT ASSETS
Stocks 11 5,407,615 8,889,346
Debtors 12 904,461 589,941
Cash at bank and in hand 1,158,161 2,468,173
7,470,237 11,947,460
CREDITORS
Amounts falling due within one year 13 2,944,392 7,583,845
NET CURRENT ASSETS 4,525,845 4,363,615
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,662,529

4,524,387

PROVISIONS FOR LIABILITIES 15 29,572 17,406
NET ASSETS 4,632,957 4,506,981

CAPITAL AND RESERVES
Called up share capital 16 200 200
Retained earnings 17 4,632,757 4,506,781
SHAREHOLDERS' FUNDS 4,632,957 4,506,981

The financial statements were approved by the Board of Directors and authorised for issue on 13 June 2025 and were signed on its behalf by:





R K Aggarwal - Director


RKA CARDIFF HOLDINGS LIMITED (REGISTERED NUMBER: 13517572)

COMPANY BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 - -
Investments 10 100 100
100 100

CURRENT ASSETS
Debtors 12 200 200

CREDITORS
Amounts falling due within one year 13 100 100
NET CURRENT ASSETS 100 100
TOTAL ASSETS LESS CURRENT
LIABILITIES

200

200

CAPITAL AND RESERVES
Called up share capital 16 200 200
SHAREHOLDERS' FUNDS 200 200

Company's profit for the financial year - -

The financial statements were approved by the Board of Directors and authorised for issue on 13 June 2025 and were signed on its behalf by:





R K Aggarwal - Director


RKA CARDIFF HOLDINGS LIMITED (REGISTERED NUMBER: 13517572)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 October 2022 200 4,255,148 4,255,348

Changes in equity
Total comprehensive income - 251,633 251,633
Balance at 30 September 2023 200 4,506,781 4,506,981

Changes in equity
Total comprehensive income - 125,976 125,976
Balance at 30 September 2024 200 4,632,757 4,632,957

RKA CARDIFF HOLDINGS LIMITED (REGISTERED NUMBER: 13517572)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 October 2022 200 - 200
Balance at 30 September 2023 200 - 200
Balance at 30 September 2024 200 - 200

RKA CARDIFF HOLDINGS LIMITED (REGISTERED NUMBER: 13517572)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 20 173,810 (2,343,094 )
Tax paid (21,832 ) (106,889 )
Taxation refund - 697,727
Net cash from operating activities 151,978 (1,752,256 )

Cash flows from investing activities
Purchase of tangible fixed assets (19,202 ) (24,128 )
Interest received 116,637 8,236
Net cash from investing activities 97,435 (15,892 )

Cash flows from financing activities
Amount introduced by directors 175,695 146,882
Amount withdrawn by directors (3,027 ) (198,595 )
Connected company loan (1,732,093 ) 1,782,516
Net cash from financing activities (1,559,425 ) 1,730,803

Decrease in cash and cash equivalents (1,310,012 ) (37,345 )
Cash and cash equivalents at
beginning of year

21

2,468,173

2,505,518

Cash and cash equivalents at end of
year

21

1,158,161

2,468,173

RKA CARDIFF HOLDINGS LIMITED (REGISTERED NUMBER: 13517572)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

RKA Cardiff Holdings 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 General 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The group has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirement of paragraph 3.17(d);
the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b)
and 11.48(c);
the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirements of paragraphs 26.18(b), 26.19 to 26.21 and 26.23;
the requirement of paragraph 33.7.

RKA CARDIFF HOLDINGS LIMITED (REGISTERED NUMBER: 13517572)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued

Basis of consolidation
The consolidated group financial statements consist of the financial statements of the parent company RKA Cardiff Holdings Limited together with all entities controlled by the parent company and its subsidiaries.

The financial statements are made up to the 30 September 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used to align with those used by other members of the group.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an asset transferred.

Subsidiaries are consolidated in the Groups financial statements from the date that control commences until the date that control ceases.

Business combinations
The consolidated financial statements include assets, liabilities and results of the company and its wholly owned subsidiary undertakings, up to 30 September each year. The results of the subsidiary undertakings are consolidated from the date of acquisition to date of disposal.

Transactions between the parent company and its subsidiaries are eliminated on consolidation and are not disclosed within these financial statements.

To date, all business combinations have been accounted for adopting merger accounting principals. Where necessary adjustments are made to the financial statements to align accounting polices with the group.

Going concern
The financial statements have been prepared on a going concern basis which assumes that the group will continue in operational existence for the foreseeable future. In making their assessment, the directors have reviewed the balance sheet, the likely future cashflows of the business, and the support available to the group.

The directors have confirmed their intention to continue supporting the group for the foreseeable future. This support includes making available financial assistance from other business interests under their control to ensure that the group can meet its liabilities as they fall due. Based on this continued support and after reviewing the group's forecasts and available resources, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for at least twelve months from the date of approval of the financial statements.

Accordingly, the going concern basis of accounting remains appropriate.

RKA CARDIFF HOLDINGS LIMITED (REGISTERED NUMBER: 13517572)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued

Significant judgements and estimates
In the application of the groups accounting policies, which are described within the notes, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Useful economic lives of tangible assets - The annual depreciation charge for tangible fixed assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect the current estimate based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See notes for the carrying amount of the tangible fixed assets and accounting policies for the useful economic lives of each class of asset.

Slow moving and obsolete stock provision - The aging of stock is reviewed periodically by management in conjunction with customer demand and other trends. Based on these indications an assessment of recoverability of the value is made and associated provision for obsolete and slow moving stock is recognised.

Loyalty Scheme - The group operates a customer loyalty programme that enables customers to accumulate points on qualifying purchases, which can be redeemed against future transactions. The accounting for the loyalty scheme involves management judgement in estimating the fair value of the points awarded and the expected level of redemption. At the point of sale, a portion of revenue is deferred to reflect the obligation to supply goods or services in the future when the loyalty points are redeemed. The deferred amount is calculated with reference to the fair value of the reward, adjusted for an estimate of the proportion of points expected to be redeemed (redemption rate). The redemption rate is based on historical trends and current expectations of customer behaviour. These estimates are reviewed regularly. Any changes in the estimated redemption rates or fair value of points may have a significant impact on the revenue recognised and the liability recorded at the reporting date.

Turnover
Sale of goods - Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the end customer (on despatch). The amount of revenue can be measured reliably, it is probable that the economic benefit associated with the transaction will flow to the entity and costs associated with the respective transaction can be measured reliably.

NHS Income - NHS income is recognised in the year to which it relates.

RKA CARDIFF HOLDINGS LIMITED (REGISTERED NUMBER: 13517572)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 2% on cost
Improvements to property - 2% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Tangible fixed assets held for the groups own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the group estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Stocks
Stocks are stated at the lower cost and estimated selling price less costs to complete and sell. Stocks are recognised as am expense in the period in which the revenue is recognised.

Cost is determined on a weighted average basis that approximate to a first in, first out (FIFO) method.

Stock is assessed perpetually for impairment. If an item of stock is impaired, the identified stock is reduced to its estimated selling price less costs to complete and sell and an impairment charge is recognised within the income statement. Where a reversal of the impairment has been recognised the impairment charge is reversed, up to the original impairment loss and is recognised as a credit in the income statement.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Comprehensive Income, 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.


RKA CARDIFF HOLDINGS LIMITED (REGISTERED NUMBER: 13517572)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued
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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Transactions in currencies, other than the functional currency of the company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

RKA CARDIFF HOLDINGS LIMITED (REGISTERED NUMBER: 13517572)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefit will be required in settlement and the amount can be reliable estimated.

Where there are a number of similar obligations, the likelihood that an outflow of economic benefits will be required in settlement is determined by considering the class of obligation as a whole. A provision is recognised even if the likelihood of an outflow with respect of any one item in the same class of obligations may be small.

Provisions are not made for future operating losses.

Provisions are measures at the present value of the cost expected to be required to settle the obligation using a pre-tax rate that reflects current market assessment of the time value of money and the risks specific to the obligation. The increase in the provision due to the passing of time is recognised as a cost in the income statement.

Contingent liabilities
Contingent liabilities are not recognised. Contingent liabilities arise as a result of past events when:
- It is not probable that there will be an outflow of economic resources or that the amount cannot be reliably measured at the reporting date;
- When the existence will be confirmed by the occurrence or non-occurrence of the uncertain future vents not wholly within the company's control.

Contingent liabilities are disclosed in the financial statements unless the probability of an outflow of economic resource is remote.

Contingent assets are not recognised. Contingent assets are disclosed in the financial statements when an inflow of future economic benefits is probable.

Cash & Cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments".
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other debtors, loans to related companies and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.



RKA CARDIFF HOLDINGS LIMITED (REGISTERED NUMBER: 13517572)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued
Basic financial liabilities
Basic financial liabilities, including trade and other creditors, loans to related companies and bank loans are initially recognised at transaction price unless the arrangement constitutes a financial transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the assets cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Employee benefits
Short-term employee benefits are recognised as an expense in the period in which they are incurred.

The obligation for contribution to the money purchase scheme are recognised as an expense in the period they are incurred. The assets of the scheme are held separately from those of the company in an independent administered fund.

3. TURNOVER

In the opinion of the directors, an analysis of turnover and operating profit by class of business and geographical segment would be significantly prejudicial to the interest of the group

4. OTHER OPERATING INCOME
2024 2023
£    £   
Other income 143,001 125,224

5. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 2,393,555 2,546,655
Social security costs 232,670 223,457
Other pension costs 237,292 415,170
2,863,517 3,185,282

The average number of employees during the year was as follows:
2024 2023

Retail staff 82 94
Administration 2 2
84 96

RKA CARDIFF HOLDINGS LIMITED (REGISTERED NUMBER: 13517572)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5. EMPLOYEES AND DIRECTORS - continued

The average number of employees by undertakings that were proportionately consolidated during the year was 84 (2023 - 96 ) .

2024 2023
£    £   
Directors' remuneration - -
Directors' pension contributions to money purchase schemes 120,000 230,000

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 2 2

6. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 43,290 66,165
Auditors' remuneration 17,500 16,000
Rent 183,960 183,960

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 54,028 4,313

Deferred tax provision 12,166 71,529
Tax on profit 66,194 75,842

UK corporation tax has been charged at 25 % (2023 - 22 %).

RKA CARDIFF HOLDINGS LIMITED (REGISTERED NUMBER: 13517572)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 192,170 327,475
Profit multiplied by the standard rate of corporation tax in the UK
of 25 % (2023 - 22 %)

48,043

72,045

Effects of:
Expenses not deductible for tax purposes 10,785 17,939
Capital allowances in excess of depreciation (4,800 ) (6,046 )
Utilisation of tax losses - (79,625 )

Movement in deferred tax provision 12,166 71,529


Total tax charge 66,194 75,842

8. INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

As permitted by Section 408 of the Companies Act 2006, the Statement of Comprehensive Income of the parent company is not presented as part of these financial statements.

The profit for the financial year dealt with in the financial statements of the parent company was £Nil (2023: £Nil).

RKA CARDIFF HOLDINGS LIMITED (REGISTERED NUMBER: 13517572)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

9. TANGIBLE FIXED ASSETS

Group
Improvements
Long to Plant and
leasehold property machinery
£    £    £   
COST
At 1 October 2023 100,900 248,501 32,369
Additions - - 11,159
At 30 September 2024 100,900 248,501 43,528
DEPRECIATION
At 1 October 2023 61,414 248,501 21,084
Charge for year 2,018 - 3,063
At 30 September 2024 63,432 248,501 24,147
NET BOOK VALUE
At 30 September 2024 37,468 - 19,381
At 30 September 2023 39,486 - 11,285

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 October 2023 663,256 230,230 202,984 1,478,240
Additions 3,202 - 4,841 19,202
At 30 September 2024 666,458 230,230 207,825 1,497,442
DEPRECIATION
At 1 October 2023 615,619 205,751 180,999 1,333,368
Charge for year 11,261 11,750 15,198 43,290
At 30 September 2024 626,880 217,501 196,197 1,376,658
NET BOOK VALUE
At 30 September 2024 39,578 12,729 11,628 120,784
At 30 September 2023 47,637 24,479 21,985 144,872

The company has no tangible fixed assets.

RKA CARDIFF HOLDINGS LIMITED (REGISTERED NUMBER: 13517572)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

10. FIXED ASSET INVESTMENTS

Group
Unlisted
investments
£   
COST
At 1 October 2023
and 30 September 2024 15,900
NET BOOK VALUE
At 30 September 2024 15,900
At 30 September 2023 15,900
Company
Shares in
group
undertakings
£   
COST
At 1 October 2023
and 30 September 2024 100
NET BOOK VALUE
At 30 September 2024 100
At 30 September 2023 100

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiary

RK Aggarwal Limited
Registered office: England & Wales
Nature of business: Pharmacist and online retailer
%
Class of shares: holding
Ordinary 100.00


RKA CARDIFF HOLDINGS LIMITED (REGISTERED NUMBER: 13517572)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

11. STOCKS

Group
2024 2023
£    £   
Stock of goods for resale 5,407,615 8,889,346

Stocks are stated after provisions for impairment of £544,067 (2023: £301,119).

The company does not hold any stock.

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Other debtors 12,646 7,350 200 200
Trade debtors 198,503 316,155 - -
Amounts owed by participating interests 495,166 - - -
Directors' current accounts 20,865 193,533 - -
VAT 49,485 - - -
Prepayments 127,796 72,903 - -
904,461 589,941 200 200

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade creditors 2,638,239 2,140,328 - -
Tax 41,842 9,646 - -
VAT - 71,670 - -
Other creditors 192,875 120,150 100 100
Accruals 57,916 31,865 - -
Connected company creditors 13,520 5,210,186 - -
2,944,392 7,583,845 100 100

14. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

RKA CARDIFF HOLDINGS LIMITED (REGISTERED NUMBER: 13517572)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

Group
Non-cancellable operating leases
2024 2023
£    £   
Within one year 183,960 183,960
Between one and five years 280,000 280,000
In more than five years 55,000 125,000
518,960 588,960

The company has no operating lease commitments.

15. PROVISIONS FOR LIABILITIES

Group
2024 2023
£    £   
Deferred tax provision 29,572 17,406

Group
Deferred
tax
£   
Balance at 1 October 2023 17,406
Accelerated capital allowances 12,166
Balance at 30 September 2024 29,572

The deferred tax account consists of the tax effect of timing differences in respect of;

2024 2023
£ £
Accelerated capital allowances 29,572 17,406
29,572 17,406

As at 30 September 2024 there was a deferred tax creditor of £29,572, which is referred to in note 13 to the financial statements.

RKA CARDIFF HOLDINGS LIMITED (REGISTERED NUMBER: 13517572)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:


Number:

Class:
Nominal
value:

2021


2020
£    £   

160 Ordinary A 1 160 160
40 Ordinary B 1 40 40
200 200






17. RESERVES

Group
Retained
earnings
£   

At 1 October 2023 4,506,781
Profit for the year 125,976
At 30 September 2024 4,632,757

Company
Retained
earnings
£   

Profit for the year -
At 30 September 2024 -


RKA CARDIFF HOLDINGS LIMITED (REGISTERED NUMBER: 13517572)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

18. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2024 and 30 September 2023:

2024 2023
£    £   
R K Aggarwal
Balance outstanding at start of year (193,532 ) (141,820 )
Amounts advanced (12,464 ) (198,595 )
Amounts repaid 185,132 146,883
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (20,864 ) (193,532 )

The loan balances are interest free and repayable on demand

19. RELATED PARTY DISCLOSURES

The group has taken advantage of the exemptions available under FRS 102 section 33.1 A and has not disclosed all transactions with its subsidiary undertaking.

The group has paid rent amounting to £60,000 (2023 - £60,000) to the directors for occupying properties owned by them.

The group has also paid rent amounting to £10,000 (2023 - £10,000) to the pension fund operated for the benefit of the directors. Included within creditors falling due within one year is £42,500 (2023 - £21,250) owed by the group.

Included in creditors is £13,520 (2023 - £13,520) owed to a company in which the directors are shareholders and directors. The loan is interest free and repayable on demand.

As at the 30 September 2024 an amount of £495,166 (2023 - £5,196,667 due to RKA Cardiff Investments Limited) was due from RKA Cardiff Investments Limited. The amount is not interest bearing and considered to be repayable on demand. The relationship is that of common ownership and control.

During the year, a total of key management personnel compensation of £ 425,000 (2023 - £ 592,000 ) was paid.

RKA CARDIFF HOLDINGS LIMITED (REGISTERED NUMBER: 13517572)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

20. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
£    £   
Profit before taxation 192,170 327,475
Depreciation charges 43,289 66,164
Connected company loan 1,732,094 -
Finance income (116,637 ) (8,236 )
1,850,916 385,403
Decrease/(increase) in stocks 3,481,731 (370,575 )
(Increase)/decrease in trade and other debtors (487,188 ) 579,157
Decrease in trade and other creditors (4,671,649 ) (2,937,079 )
Cash generated from operations 173,810 (2,343,094 )

21. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 September 2024
30.9.24 1.10.23
£    £   
Cash and cash equivalents 1,158,161 2,468,173
Year ended 30 September 2023
30.9.23 1.10.22
£    £   
Cash and cash equivalents 2,468,173 2,505,518


22. ANALYSIS OF CHANGES IN NET FUNDS

At 1.10.23 Cash flow At 30.9.24
£    £    £   
Net cash
Cash at bank and in hand 2,468,173 (1,310,012 ) 1,158,161
2,468,173 (1,310,012 ) 1,158,161
Total 2,468,173 (1,310,012 ) 1,158,161

23. ULTIMATE CONTROLLING PARTY

The group is controlled by Mr. RK Aggarwal.