REGISTERED NUMBER: 05681364 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

SHARIF FASHIONS UK LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr Sadiq Sharif

Mrs Reihana Sharif

SECRETARY:

Mrs Jahan Sharif

REGISTERED OFFICE:

Unit 24 River Road Business Park

33 River Road

Barking

Essex

IG11 0EA

REGISTERED NUMBER:

05681364 (England and Wales)

FIXED ASSETS

Tangible assets

4

1,474

1,966

CURRENT ASSETS

Stocks

38,089

50,500

Debtors

5

912,144

1,055,283

Cash at bank and in hand

18,605

53,865

968,838

1,159,648

CREDITORS

Amounts falling due within one year

6

467,126

656,100

NET CURRENT ASSETS

501,712

503,548

TOTAL ASSETS LESS CURRENT LIABILITIES

503,186

505,514

CAPITAL AND RESERVES

Called up share capital

7

1

1

Retained earnings

8

503,185

505,513

SHAREHOLDERS' FUNDS

503,186

505,514

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 December 2025 and were signed on its behalf by:

Mr Sadiq Sharif - Director

1.	STATUTORY INFORMATION

Sharif Fashions UK 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 Company Information page.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods have transferred to the buyer

Tangible fixed assets

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the costs of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Fixtures & fittings - 25% Reducing balancel

The asset's residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit and loss.

Stocks

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Current asset investment:

Current Asset Investments are measured at fair value.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2024

and 31 March 2025

18,002

DEPRECIATION

At 1 April 2024

16,036

Charge for year

492

At 31 March 2025

16,528

NET BOOK VALUE

At 31 March 2025

1,474

At 31 March 2024

1,966

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

291,228

542,221

Other debtors

620,916

513,062

912,144

1,055,283

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

8,569

9,657

Trade creditors

425,875

621,453

Taxation and social security

24,102

1,963

Other creditors

8,580

23,027

467,126

656,100

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

1

Ordinary £1 shares

£1

1

1

8.

RESERVES

Retained

earnings

£

At 1 April 2024

505,513

Profit for the year

32,672

Dividends

(35,000

)

At 31 March 2025

503,185

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

31.3.25

31.3.24

£

£

Mr Sadiq Sharif

Balance outstanding at start of year

311,767

308,457

Amounts advanced

41,727

110,015

Amounts repaid

(51,440

)

(106,705

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

302,054

311,767

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr Sadiq Sharif.