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Registered number: 08403995
Gafoor Pure Halal (Retail) Ltd
Financial Statements
For The Year Ended 28 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08403995
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 3,800 -
Tangible Assets 5 227,369 156,104
Investments 6 2,247,908 -
2,479,077 156,104
CURRENT ASSETS
Stocks 7 21,103 15,544
Debtors 8 990,779 1,723,869
Cash at bank and in hand 205,304 642,510
1,217,186 2,381,923
Creditors: Amounts Falling Due Within One Year 9 (1,777,395 ) (755,729 )
NET CURRENT ASSETS (LIABILITIES) (560,209 ) 1,626,194
TOTAL ASSETS LESS CURRENT LIABILITIES 1,918,868 1,782,298
PROVISIONS FOR LIABILITIES
Deferred Taxation (27,505 ) (33,141 )
NET ASSETS 1,891,363 1,749,157
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and Loss Account 1,891,362 1,749,156
SHAREHOLDERS' FUNDS 1,891,363 1,749,157
Page 1
Page 2
For the year ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
I V Vaza
Director
19th February 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Gafoor Pure Halal (Retail) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08403995 . The registered office is 109 Coleman Road, Leicester, LE5 4LE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold over lease term
Plant & Machinery 15% on reducing balance
Motor Vehicles 15% on reducing balance
Fixtures & Fittings 15% on reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2023: 8)
10 8
Page 3
Page 4
4. Intangible Assets
Other
£
Cost
As at 1 March 2023 -
Additions 3,800
As at 28 February 2024 3,800
Net Book Value
As at 28 February 2024 3,800
As at 1 March 2023 -
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 March 2023 34,005 36,030 99,550 54,375 223,960
Additions - 78,909 23,979 26,200 129,088
Disposals - (19,892 ) - (9,958 ) (29,850 )
As at 28 February 2024 34,005 95,047 123,529 70,617 323,198
Depreciation
As at 1 March 2023 10,463 11,210 14,933 31,250 67,856
Provided during the period 5,232 13,428 13,292 6,648 38,600
Disposals - (5,677 ) - (4,950 ) (10,627 )
As at 28 February 2024 15,695 18,961 28,225 32,948 95,829
Net Book Value
As at 28 February 2024 18,310 76,086 95,304 37,669 227,369
As at 1 March 2023 23,542 24,820 84,617 23,125 156,104
6. Investments
Other
£
Cost
As at 1 March 2023 -
Additions 2,247,908
As at 28 February 2024 2,247,908
Provision
As at 1 March 2023 -
As at 28 February 2024 -
Net Book Value
As at 28 February 2024 2,247,908
As at 1 March 2023 -
Page 4
Page 5
7. Stocks
2024 2023
£ £
Stock 21,103 15,544
8. Debtors
2024 2023
£ £
Due within one year
Trade debtors 74,720 80,109
Other debtors 867,550 1,630,091
942,270 1,710,200
Due after more than one year
Other debtors 48,509 13,669
990,779 1,723,869
9. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 682,556 464,856
Other creditors 1,003,358 268,082
Taxation and social security 91,481 22,791
1,777,395 755,729
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 33,800 33,800
Later than one year and not later than five years 118,300 135,200
Later than five years - 16,900
152,100 185,900
At the year end the company had total commitments under non-cancellable operating leases of £152,100, expiring within 5 years.
Page 5
Page 6
12. Directors Advances, Credits and Guarantees
The following advances and credits to directors subsisted during the current and prior periods:
As at 1 March 2023 Amounts advanced Amounts repaid Amounts written off As at 28 February 2024
£ £ £ £ £
Mr Isa Vaza 40,799 139,663 - - 180,462
The above loan is unsecured, interest free and repayable on demand.
Page 6