Warsi Halal Meat Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04165655 (England and Wales)

Unaudited Financial Statements for the Year Ended 28 February 2022

for

Warsi Halal Meat Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

N Bashir

SECRETARY:

Mrs T Bashir

REGISTERED OFFICE:

256 Streatfield Road

Kenton

Harrow

United Kingdom

HA3 9BY

REGISTERED NUMBER:

04165655 (England and Wales)

FIXED ASSETS

Intangible assets

4

5,000

7,500

Tangible assets

5

31,427

21,798

36,427

29,298

CURRENT ASSETS

Stocks

15,875

14,575

Debtors

6

67,230

89,184

Cash at bank and in hand

8,656

9,790

91,761

113,549

CREDITORS

Amounts falling due within one year

7

11,054

13,970

NET CURRENT ASSETS

80,707

99,579

TOTAL ASSETS LESS CURRENT LIABILITIES

117,134

128,877

CREDITORS

Amounts falling due after more than one year

8

44,651

50,000

NET ASSETS

72,483

78,877

CAPITAL AND RESERVES

Called up share capital

9

1

1

Retained earnings

10

72,482

78,876

SHAREHOLDERS' FUNDS

72,483

78,877

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 13 September 2022 and were signed by:

N Bashir - Director

1.	STATUTORY INFORMATION

Warsi Halal Meat 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

Revenue is recognised to the extent that it is probable that the economic benefit will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide service is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of turnover can be measured reliably;

- It is probable that the Company will receive the consideration due under the contract ;

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

Revenue is recognised when services are rendered.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tangible fixed assets under the cost model 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.

The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefit to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance charged to the Statement of comprehensive income during the year in which they are incurred.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Computer equipments -15% on reducing balance

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.

Stocks

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

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 bank and other third parties, loan to related parties and investments in non-puttable ordinary shares.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in life.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2021 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 March 2021

and 28 February 2022

50,000

AMORTISATION

At 1 March 2021

42,500

Amortisation for year

2,500

At 28 February 2022

45,000

NET BOOK VALUE

At 28 February 2022

5,000

At 28 February 2021

7,500

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 March 2021

49,875

Additions

20,105

At 28 February 2022

69,980

DEPRECIATION

At 1 March 2021

28,077

Charge for year

10,476

At 28 February 2022

38,553

NET BOOK VALUE

At 28 February 2022

31,427

At 28 February 2021

21,798

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.22

28.2.21

£

£

Trade debtors

35,611

49,103

Other debtors

31,619

40,081

67,230

89,184

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.22

28.2.21

£

£

Trade creditors

8,115

4,910

Taxation and social security

2,261

8,481

Other creditors

678

579

11,054

13,970

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.22

28.2.21

£

£

Bank loans

44,651

50,000

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

44,651

50,000

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.22

28.2.21

value:

£

£

1

Ordinary

1

1

1

10.

RESERVES

Retained

earnings

£

At 1 March 2021

78,876

Deficit for the year

(6,394

)

At 28 February 2022

72,482