| Asian Traders Limited |
| Strategic Report |
|
| The directors present their strategic report for the period ended 31 March 2025. |
|
| Review of the business |
|
During the period, the company continued to trade in wholesale distribution of asian foods from its warehouse. In addition to sales from warehouse, the company generates sales by delivering the products to customer's through its fleet of vehicles thereby providing it an competitive advantage.
The management realised that the increase in turnover was limited by capacity constraints. Therefore the company has invested in creating additional freezer at the warehouse and converted one of its vehicle into freezer.
Further the company has established key contacts in sourcing the products and is also focussed on increase in sales of its own brand products. The continuous efforts of management combined with increase in capacity led to an increase in turnover by 20.86%.The key performance indicators used by management are as follows : |
|
|
£ |
£ |
| Turnover |
15,577,929 |
14,243,761 |
| Gross profit |
3,877,405 |
3,788,849 |
| Gross profit margin |
25% |
27% |
| Operating profit |
2,724,572 |
2,888,936 |
|
In addition to the above, the business performance is measured by using non-financial indicators such as product availability, customer returns and the service levels.
In view of the tough market conditions due to increased inflation, the overheads were controlled during the year. Since the value and quantity of inventory carried by business is critical, the management reviews the inventory reports regularly. As a result, the inventory as proportion of turnover has reduced thereby keeping financial costs of working capital under control. |
|
| Principal risks and uncertainties |
|
The company operates in sale of food therefore its performance depends upon world harvest. In order to mitigate this risk, the company has diversified its sourcing of products. The company reduces the risk of losing customers by nurturing relationships and providing quick service.
Risks are reviewed by the board and appropriate strategies are put in place to mitigate and monitor them. |
|
| Financial risk management |
|
| The main financial risks are credit risk, interest rate risk and liquidity risk which are monitored by board of directors. The board is focussed on reducing the debt by using the funds thereby further minimising the financial risks. |
|
| Financial instruments |
|
| The company's policy is to finance its operations from retained profits and bank facilities. The financial instruments utilised by the company are borrowings and items such as trade creditors which arise directly from its operations. The financial risks are monitored by board of directors. |
|
| Future developments |
|
| The financial results for the year 2024-25 are in line with management's expectations. The directors aim to continue with the management policies which has resulted in the company's steady growth. The company is poised to continue trading satisfactorily for the future and will maintain policies which are suitable in the present environment. |
|
| This report was approved by the board on 22 September 2025 and signed on its behalf. |
|
|
|
| Mr Chetan Thakkar |
| Director |
|
|
| Basis of 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 Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company 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 may not be 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 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 other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information contained within the annual report. 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 course of 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. |
|
| Opinions on other matters prescribed by the Companies Act 2006 |
| Except for the matter described in the Disclaimer of Opinion section of our report, In our opinion, based on the work undertaken in the course of the audit: |
| ● |
the information given in the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
| ● |
the directors' report has been prepared in accordance with applicable legal requirements |
|
| Matters on which we are required to report by exception |
There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: |
|
| ● |
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. |
| ● |
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. |
| ● |
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. |
| ● |
Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern. |
| ● |
Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. |
|
| We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. |
|
| 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 an auditor's report 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. |
| 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 Auditors' Report. |
|
|
|
|
| Mr Hemal Doshi |
| (Senior Statutory Auditor) |
| for and on behalf of |
21 High Street |
| RDH Accountants Limited |
Harrow on the Hill |
| Chartered Certified Accountants & statutory auditor |
Middlesex |
| 29 September 2025 |
HA1 3HT |
|
|
Motor vehicles |
15% reducing balance |
|
|
Stocks |
|
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. In determining the cost of goods purchased for resale, the weighted average price is used.
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. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Provisions |
|
Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction.
At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
|
|
Leased assets |
|
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
|
| 2 |
Analysis of turnover |
2025 |
|
2024 |
| £ |
£ |
|
|
Sale of goods |
15,577,929 |
|
14,243,761 |
|
|
|
|
|
|
|
|
|
|
By geographical market: |
|
|
UK |
15,577,929 |
|
14,243,761 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Operating profit |
2025 |
|
2024 |
| £ |
£ |
|
This is stated after charging: |
|
|
Depreciation of owned fixed assets |
32,942 |
|
34,710 |
|
Auditors' remuneration for audit services |
9,750 |
|
9,750 |
|
Carrying amount of stock sold |
11,712,200 |
|
10,454,796 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Directors' emoluments |
2025 |
|
2024 |
| £ |
£ |
|
|
Emoluments |
108,000 |
|
108,000 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Staff costs |
2025 |
|
2024 |
| £ |
£ |
|
|
Wages and salaries |
611,340 |
|
539,769 |
|
Social security costs |
40,251 |
|
33,844 |
|
Other pension costs |
8,986 |
|
8,065 |
|
|
|
|
|
|
660,577 |
|
581,678 |
|
|
|
|
|
|
|
|
|
|
|
Average number of employees during the year |
Number |
Number |
|
|
Administration |
8 |
|
8 |
|
Distribution |
24 |
|
22 |
|
|
|
|
|
|
32 |
|
30 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Interest payable |
2025 |
|
2024 |
| £ |
£ |
|
|
Bank loans and overdrafts |
67,498 |
|
58,438 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Taxation |
2025 |
|
2024 |
| £ |
£ |
|
Analysis of charge in period |
|
Current tax: |
|
UK corporation tax on profits of the period |
672,416 |
|
647,376 |
|
|
|
|
|
|
|
|
|
|
Deferred tax: |
|
Origination and reversal of timing differences |
- |
|
22,240 |
|
|
|
|
|
|
|
|
|
|
|
Tax on profit on ordinary activities |
672,416 |
|
669,616 |
|
|
|
|
|
|
|
|
|
|
|
Factors affecting tax charge for period |
|
The tax assessed for the year is the standard rate of corporation tax in the UK of 25% (2024 - 25%).The differences are explained below: |
|
|
|
|
|
|
|
2025 |
|
2024 |
| £ |
£ |
|
Profit on ordinary activities before tax |
2,675,956 |
|
1,339,238 |
|
|
|
|
|
|
|
|
|
|
Standard rate of corporation tax in the UK |
25% |
|
25% |
|
| £ |
£ |
|
Profit on ordinary activities multiplied by the standard rate of corporation tax |
|
668,989 |
|
334,810 |
|
|
Effects of: |
|
Expenses not deductible for tax purposes |
3,427 |
|
312,566 |
|
|
Current tax charge for period |
672,416 |
|
647,376 |
|
|
|
|
|
|
|
|
|
|
|
Factors that may affect future tax charges |
|
|
| 8 |
Tangible fixed assets |
|
|
|
|
Plant and machinery |
|
Motor vehicles |
|
Total |
Total |
|
|
|
|
At cost |
|
At cost |
| £ |
£ |
£ |
£ |
|
Cost or valuation |
|
At 1 April 2024 |
327,258 |
|
150,071 |
|
477,329 |
477,329 |
|
Additions |
19,814 |
|
- |
|
19,814 |
19,814 |
|
At 31 March 2025 |
347,072 |
|
150,071 |
|
497,143 |
497,143 |
|
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2024 |
221,484 |
|
56,509 |
|
277,993 |
277,993 |
|
Charge for the year |
18,907 |
|
14,035 |
|
32,942 |
32,942 |
|
At 31 March 2025 |
240,391 |
|
70,544 |
|
310,935 |
310,935 |
|
|
|
|
|
|
|
|
|
|
|
Carrying amount |
|
At 31 March 2025 |
106,681 |
|
79,527 |
|
186,208 |
186,208 |
|
At 31 March 2024 |
105,774 |
|
93,562 |
|
199,336 |
199,336 |
|
|
|
|
|
|
|
|
|
|
| 9 |
Stocks |
2025 |
|
2024 |
| £ |
£ |
|
|
Finished goods and goods for resale |
828,667 |
|
806,974 |
|
|
|
|
|
|
|
|
|
|
| 10 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade debtors |
993,628 |
|
951,909 |
|
Other debtors |
4,715,914 |
|
2,890,070 |
|
Prepayments and accrued income |
16,832 |
|
14,098 |
|
|
|
|
|
|
5,726,374 |
|
3,856,077 |
|
|
|
|
|
|
|
|
|
|
| 11 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade creditors |
389,069 |
|
705,695 |
|
Corporation tax |
72,416 |
|
647,376 |
|
Other taxes and social security costs |
3,467 |
|
8,344 |
|
Other creditors |
- |
|
37,742 |
|
Accruals and deferred income |
19,247 |
|
25,308 |
|
|
|
|
|
|
484,199 |
|
1,424,465 |
|
|
|
|
|
|
|
|
|
|
| 12 |
Creditors: amounts falling due after one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Bank loans |
- |
|
500,000 |
|
Other creditors |
- |
|
38,000 |
|
|
|
|
|
|
- |
|
538,000 |
|
|
|
|
|
|
|
|
|
|
| 13 |
Deferred taxation |
2025 |
|
2024 |
| £ |
£ |
|
|
Accelerated capital allowances |
51,354 |
|
51,354 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2025 |
|
2024 |
| £ |
£ |
|
|
At 1 April |
51,354 |
|
107,552 |
|
Credited to the profit and loss account |
- |
|
(56,198) |
|
|
At 31 March |
51,354 |
|
51,354 |
|
|
|
|
|
|
|
|
|
|
|
|
| 14 |
Share capital |
Nominal |
|
2025 |
|
2025 |
|
2024 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
100 |
|
100 |
|
100 |
|
|
|
|
|
|
|
|
|
|
| 15 |
Other reserves |
2025 |
|
2024 |
|
Revaluation reserve |
£ |
£ |
|
|
At 1 April |
- |
|
313,756 |
|
Adjustment of revaluation reserve on disposal of land and buildings |
- |
|
(392,195) |
|
Deferred taxation adjustment on disposal of land and buildings |
|
- |
|
78,439 |
|
|
At 31 March |
- |
|
- |
|
|
|
|
|
|
|
|
|
|
| 16 |
Profit and loss account |
2025 |
|
2024 |
| £ |
£ |
|
|
At 1 April |
4,539,666 |
|
5,977,849 |
|
Profit for the financial year |
2,003,540 |
|
669,622 |
|
Dividends |
(6,000) |
|
(2,107,805) |
|
|
At 31 March |
6,537,206 |
|
4,539,666 |
|
|
|
|
|
|
|
|
|
|
| 17 |
Dividends |
2025 |
|
2024 |
| £ |
£ |
|
|
Dividends on ordinary shares (note 16) |
6,000 |
|
2,107,805 |
|
The dividend distribution was made in specie. |
|
| 18 |
Events after the reporting date |
|
|
The company is in the process of selling 51% shares to Madhurima Limited. The share sale purchase agreement was not signed at the balance sheet date. |
|
|
| 19 |
Related party transactions |
|
|
Included in other debtors is the amount of £2,173,862 (2024: £2,183,582) due from Saras Properties Limited, a related company by virtue of common directorship and in which the directors of the company hold a material interest.
Included in other debtors is the amount of £1,362,159 (2024: £ nil) due from Abbotts Golf Course Limited, a related company where Saras Properties Limited hold a material interest.
Included in other debtors is the amount of £ nil (2024: £587,996) due from Sitha Investment Limited, a related company by virtue of common directorship and in which the directors of the company hold a material interest.
Included in other debtors is the amount of £113,400 (2024: £2,589) due from Property Direct Eng Limited, a related company where Mr Chetan Thakkar is a director of the company in which he holds a material interest.
Included in other debtors is the amount of £ nil (2024: £100) due from Grocery Guruji Limited, a related company by virtue of common directorship and in which the directors of the company hold a material interest.
Included in other debtors is the amount of £13,500 (2024: £ nil) due from Asian Traders Holdings Ltd, a related company by virtue of common directorship and in which the directors of the company hold a material interest.
Included in other debtors is the amount of £170 (2024: £ nil) due from The Blend Master Company Ltd, a related company where Mr Savinder Singh is a director of the company in which he holds a material interest.
Included in other debtors is the amount of £100 (2024: £ nil) due from Saras Investment Ltd, a related company by virtue of common directorship and in which the directors of the company hold a material interest.
Included in other debtors is the amount of £1,033,043 (2024: £ nil) due from JSC Investments Limited, a Company registered in the Emirate of Dubai, Untied Arab Emirates. A related company in which the shareholders of the company hold a material interest. |
|
| 20 |
Controlling party |
|
|
The company is a wholly owned subsidiary of Asian Traders Holdings Ltd, a company incorporated in England registered at Unit 5a, Silverdale Industrial Estate, Silverdale Road, Hayes, England, UB3 3BL |
|
| 21 |
Presentation currency |
|
|
The financial statements are presented in Sterling. |
|
| 22 |
Legal form of entity and country of incorporation |
|
|
Asian Traders Limited is a private company limited by shares and incorporated in England. |
| 23 |
Principal place of business |
|
|
The address of the company's principal place of business and registered office is: |
|
|
Unit 5a, Silverdale Industrial Estate |
|
Silverdale Road |
|
Hayes Middlesex UB3 3BL |