Al_Rasheed_Supermarket_Ltd_31_Mar_2019_companies_house_set_of_accounts.html

Al_Rasheed_Supermarket_Ltd_31_Mar_2019_companies_house_set_of_accounts.html


1 April 2018 4.4.0 limited_company_frs_102_section_1a_v1_0_4 companies_houseSoftwarefalsetruetruetrueNo description of principal activitytruexbrli:purexbrli:sharesiso4217:GBP100754072018-04-012019-03-31100754072019-03-31100754072018-03-3110075407core:WithinOneYear2019-03-3110075407core:WithinOneYear2018-03-3110075407core:AfterOneYear2019-03-3110075407core:ShareCapital2019-03-3110075407core:ShareCapital2018-03-3110075407core:RetainedEarningsAccumulatedLosses2019-03-3110075407core:RetainedEarningsAccumulatedLosses2018-03-3110075407bus:Director12018-04-012019-03-3110075407bus:RegisteredOffice2018-04-012019-03-311007540712018-04-012019-03-3110075407countries:EnglandWales2018-04-012019-03-3110075407bus:AuditExemptWithAccountantsReport2018-04-012019-03-3110075407bus:PrivateLimitedCompanyLtd2018-04-012019-03-3110075407bus:SmallEntities2018-04-012019-03-3110075407bus:FullAccounts2018-04-012019-03-31
Company registration number:
10075407
Al Rasheed Supermarket Ltd
Unaudited Filleted Financial Statements for the year ended
31 March 2019
Staples Accounting Services Limited
27, Gloucester Place, Second Floor, LONDON, United Kingdom
Al Rasheed Supermarket Ltd
Report to the board of directors on the preparation of the unaudited statutory financial statements of Al Rasheed Supermarket Ltd
Year ended
31 March 2019
As described on the statement of financial position, the Board of Directors of
Al Rasheed Supermarket Ltd
are responsible for the preparation of the
financial statements
for the year ended
31 March 2019
, which comprise the income statement, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
Staples Accounting Services Limited
27
Gloucester Place
Second Floor
LONDON
United Kingdom
Al Rasheed Supermarket Ltd
Statement of Financial Position
31 March 2019
20192018
Note££
Current assets    
Stocks
29,360
 
29,360
 
Cash at bank and in hand
27,593
 
11,714
 
56,953
 
41,074
 
Creditors: amounts falling due within one year 5
(4,775
)
(76,899
)
Net current assets/(liabilities)
52,178
 
(35,825
)
Total assets less current liabilities 52,178   (35,825 )
Creditors: amounts falling due after more than one year 6
(72,344
) -  
Net liabilities
(20,166
)
(35,825
)
Capital and reserves    
Called up share capital
1
 
1
 
Profit and loss account
(20,167
)
(35,826
)
Shareholders deficit
(20,166
)
(35,825
)
For the year ending
31 March 2019
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
23 December 2019
, and are signed on behalf of the board by:
Mr Ansar Abdullah Patel
Director
Company registration number:
10075407
Al Rasheed Supermarket Ltd
Notes to the Financial Statements
Year ended
31 March 2019

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
27
,
Gloucester Place
,
Second Floor
,
W1U 8HU
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and 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 assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity 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.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
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.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or 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 Average number of employees

5 Creditors: amounts falling due within one year

20192018
££
Trade creditors
2,994
 
3,288
 
Taxation and social security
581
 
425
 
Other creditors
1,200
 
73,186
 
4,775
 
76,899
 

6 Creditors: amounts falling due after more than one year

20192018
££
Other creditors
72,344
  -