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2023-09-01
Sage Accounts Production Advanced 2023 - FRS102_2023
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3,384
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COMPANY REGISTRATION NUMBER:
09178710
|
Ashraf Manchester Limited |
|
|
Unaudited Financial Statements |
|
|
Ashraf Manchester Limited |
|
Year ended 31 August 2024
|
Officers and professional advisers |
1 |
|
|
|
Report to the board of directors on the preparation of the unaudited statutory financial statements |
3 |
|
|
|
Statement of income and retained earnings |
4 |
|
|
|
Statement of financial position |
5 |
|
|
|
Notes to the financial statements |
7 |
|
|
|
Ashraf Manchester Limited |
|
|
Officers and Professional Advisers |
|
|
The board of directors
Mrs K Ashraf |
|
|
|
- Director
Mr N Ashraf
- Secretary
|
Registered office |
46 Green Pastures |
|
Stockport |
|
Cheshire |
|
England |
|
SK4 3RA |
|
|
|
Accountants |
Sterling Finance [UK] Limited |
|
Chartered accountants |
|
Westbourne House |
|
159 Oldham Road |
|
Ashton Under Lyne |
|
Lancashire |
|
United Kingdom |
|
OL7 9AR |
|
|
|
Ashraf Manchester Limited |
|
Year ended 31 August 2024
The directors present their report and the unaudited financial statements of the company for the year ended
31 August 2024
.
Directors
The directors who served the company during the year were as follows:
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
28 August 2025
and signed on behalf of the board by:
|
Registered office: |
|
46 Green Pastures |
|
Stockport |
|
Cheshire |
|
England |
|
SK4 3RA |
|
|
Ashraf Manchester Limited |
|
|
Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of
Ashraf Manchester Limited |
|
Year ended 31 August 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ashraf Manchester Limited for the year ended 31 August 2024, which comprise the statement of income and retained earnings, statement of financial position 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. This report is made solely to the Board of Directors of Ashraf Manchester Limited, as a body, in accordance with the terms of our engagement letter dated 19 September 2021. Our work has been undertaken solely to prepare for your approval the financial statements of Ashraf Manchester Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ashraf Manchester Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Ashraf Manchester 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 Ashraf Manchester Limited. You consider that Ashraf Manchester 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 Ashraf Manchester 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.
Sterling Finance [UK] Limited
Chartered accountants
Westbourne House
159 Oldham Road
Ashton Under Lyne
Lancashire
United Kingdom
OL7 9AR
28 August 2025
|
Ashraf Manchester Limited |
|
|
Statement of Income and Retained Earnings |
|
Year ended 31 August 2024
|
Administrative expenses |
996 |
1,076 |
|
Other operating income |
10,450 |
10,450 |
|
-------- |
-------- |
|
Operating profit |
9,454 |
9,374 |
|
|
|
|
Interest payable and similar expenses |
4,749 |
5,181 |
|
|
-------- |
-------- |
|
Profit before taxation |
4 |
4,705 |
4,193 |
|
|
|
|
|
Tax on profit |
900 |
809 |
|
------- |
------- |
|
Profit for the financial year and total comprehensive income |
3,805 |
3,384 |
|
------- |
------- |
|
|
|
|
Retained earnings at the start of the year |
41,603 |
38,219 |
|
-------- |
-------- |
|
Retained earnings at the end of the year |
45,408 |
41,603 |
|
-------- |
-------- |
|
|
|
All the activities of the company are from continuing operations.
|
Ashraf Manchester Limited |
|
|
Statement of Financial Position |
|
31 August 2024
Fixed assets
|
Tangible assets |
5 |
188,384 |
188,414 |
|
|
|
|
Current assets
|
Debtors |
6 |
120,000 |
120,000 |
|
Cash at bank and in hand |
7,081 |
5,748 |
|
--------- |
--------- |
|
127,081 |
125,748 |
|
|
|
|
|
Creditors: amounts falling due within one year |
7 |
2,374 |
1,369 |
|
--------- |
--------- |
|
Net current assets |
124,707 |
124,379 |
|
--------- |
--------- |
|
Total assets less current liabilities |
313,091 |
312,793 |
|
|
|
|
|
Creditors: amounts falling due after more than one year |
8 |
267,682 |
271,189 |
|
--------- |
--------- |
|
Net assets |
45,409 |
41,604 |
|
--------- |
--------- |
|
|
|
|
Capital and reserves
|
Called up share capital |
1 |
1 |
|
Profit and loss account |
45,408 |
41,603 |
|
-------- |
-------- |
|
Shareholders funds |
45,409 |
41,604 |
|
-------- |
-------- |
|
|
|
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
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
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
|
Ashraf Manchester Limited |
|
|
Statement of Financial Position (continued) |
|
31 August 2024
These financial statements were approved by the
board of directors
and authorised for issue on
28 August 2025
, and are signed on behalf of the board by:
Company registration number:
09178710
|
Ashraf Manchester Limited |
|
|
Notes to the Financial Statements |
|
Year ended 31 August 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 46 Green Pastures, Stockport, Cheshire, SK4 3RA, England.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Fixtures and fittings |
- |
20% reducing balance |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Profit before taxation
Profit before taxation is stated after charging:
|
2024 |
2023 |
|
£ |
£ |
|
Depreciation of tangible assets |
30 |
66 |
|
---- |
---- |
|
|
|
5.
Tangible assets
|
Freehold property |
Fixtures and fittings |
Total |
|
£ |
£ |
£ |
|
Cost |
|
|
|
|
At 1 September 2023 and 31 August 2024 |
188,384 |
150 |
188,534 |
|
--------- |
---- |
--------- |
|
Depreciation |
|
|
|
|
At 1 September 2023 |
– |
120 |
120 |
|
Charge for the year |
– |
30 |
30 |
|
--------- |
---- |
--------- |
|
At 31 August 2024 |
– |
150 |
150 |
|
--------- |
---- |
--------- |
|
Carrying amount |
|
|
|
|
At 31 August 2024 |
188,384 |
– |
188,384 |
|
--------- |
---- |
--------- |
|
At 31 August 2023 |
188,384 |
30 |
188,414 |
|
--------- |
---- |
--------- |
|
|
|
|
6.
Debtors
|
2024 |
2023 |
|
£ |
£ |
|
Other debtors |
120,000 |
120,000 |
|
--------- |
--------- |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
|
Corporation tax |
2,374 |
1,369 |
|
------- |
------- |
|
|
|
8.
Creditors:
amounts falling due after more than one year
|
2024 |
2023 |
|
£ |
£ |
|
Bank loans and overdrafts |
135,000 |
135,000 |
|
Other creditors |
132,682 |
136,189 |
|
--------- |
--------- |
|
267,682 |
271,189 |
|
--------- |
--------- |
|
|
|
9.
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 debtors and creditors, loans from banks and other third parties and loans to related parties. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other debtors and creditors, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade creditors or debtors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or or received. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the Balance Sheet date. Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.
10.
Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
|
Balance brought forward and outstanding |
|
2024 |
2023 |
|
£ |
£ |
|
Mrs K Ashraf |
(
132,682) |
(
136,189) |
|
--------- |
--------- |
|
|
|