K & M Rashid Limited

	Page
Abridged Balance Sheet	1—2
Notes to the Abridged Financial Statements	3—5

Registered number: 02591608

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		2,220,339		1,935,323

			2,220,339		1,935,323
CURRENT ASSETS
Stocks		217,031		188,733
Debtors	5	791,232		746,770
Cash at bank and in hand		1,590,025		1,471,661

		2,598,288		2,407,164
Creditors: Amounts Falling Due Within One Year		(878,137 )		(554,506 )

NET CURRENT ASSETS (LIABILITIES)			1,720,151		1,852,658

TOTAL ASSETS LESS CURRENT LIABILITIES			3,940,490		3,787,981

Creditors: Amounts Falling Due After More Than One Year			(733,357 )		(950,550 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	7		(225,227 )		(154,560 )

NET ASSETS			2,981,906		2,682,871

CAPITAL AND RESERVES
Called up share capital	8		2		2
Profit and Loss Account			2,981,904		2,682,869

SHAREHOLDERS' FUNDS			2,981,906		2,682,871

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K & M Rashid Limited

Abridged Balance Sheet (continued)

As At 31 December 2024

For the year ending 31 December 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.

All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 December 2024 in accordance with section 444(2A) of the Companies Act 2006.

On behalf of the board

Mr Karim Rashid

Director

24th July 2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

K & M Rashid Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02591608 . The registered office is 10 Beaumaris Grove, Shenley Church End, Milton Keynes, MK5 6EN.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

2.2. Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. 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:

Freehold	0% on reducing balance
Plant & Machinery	25% on reducing balance
Fixtures & Fittings	25% on reducing balance

2.4. Investment Properties

It is the company policy not to provide depreciation on freehold property. The property is maintained to a high standard and the director considers the residual value, based on prices prevailing at the time of acquisition are as such that depreciation is not significant.

2.5. Stocks and Work in Progress

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

2.6. Taxation

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.

3. Average Number of Employees

Average number of employees, including directors, during the year was:

	2024	2023
Office and administration	4	4
Sales, marketing and distribution	20	22

	24	26

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K & M Rashid Limited

Notes to the Abridged Financial Statements (continued)

For The Year Ended 31 December 2024

4. Tangible Assets

	Total
	£
Cost
As at 1 January 2024	2,919,631
Additions	481,155
Disposals	(9,950 )

As at 31 December 2024	3,390,836

Depreciation
As at 1 January 2024	984,308
Provided during the period	194,366
Disposals	(8,177 )

As at 31 December 2024	1,170,497

Net Book Value
As at 31 December 2024	2,220,339

As at 1 January 2024	1,935,323

The land and building represents freehold land and buildings of the company's petrol filing station and related

facilities. The freehold interest held within the site is in the director's opinion worth in excess of £3,000,000 as at

the balance sheet date. In the opinion of the director, the land and buildings should be included in the accounts at

cost.

5. Debtors

	2024	2023
	£	£
Due after more than one year
Other debtors	500,000	500,000

6. Secured Creditors

Of the creditors falling due within and after more than one year the following amounts are secured.

The loans are secured by a legal charge over the freehold land and property known as Frilford Service Station

and all other assets thereof.

	2024		2023
	£		£
Bank loans and overdrafts	951,165		1,168,358

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K & M Rashid Limited

Notes to the Abridged Financial Statements (continued)

For The Year Ended 31 December 2024

7. Deferred Taxation

The provision for deferred tax is made up as follows:

	2024	2023
	£	£
Other timing differences	225,227	154,560

8. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	2	2

9. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 January 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 December 2024
	£	£	£	£	£
Mr Karim Rashid	38,996	-	-	-	38,996

The above loan is unsecured, interest free and repayable on demand.

10. Related Party Transactions

CSK Retail Limited

CSK Retail Limited is a company wholly owned by the shareholders.

The company has loaned monies for cashflow purposes to CSK Retail Limited. The balance is included within other debtors. At the balance sheet date the amount outstanding was £100,000 (2023 £100,000).

Mrs M Rashid

Mrs M Rashid is a shareholder of the company.

The company has loaned monies to Mrs M Rashid. The balance is included within other debtors. At the balance sheet date the amount outstanding was £38,996 (2023 £38,996).

KBS Retail Limited

KBS Retail Limited is a company wholly owned by the shareholders.

The company has loaned monies for cashflow purposes to KBS Retail Limited. The balance is included within other debtors. At the balance sheet date the amount outstanding was £500,000 (2023 £500,000).

11. Ultimate Controlling Party

The company's ultimate controlling party is Mr Karim Rashid by virtue of his ownership of 50% of the issued share capital in the company.

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