Arien Distribution Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 03853002 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

ARIEN DISTRIBUTION LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M Asif

M Atif

REGISTERED OFFICE:

Arien House

John Street

Rochdale

Lancashire

OL16 2HP

REGISTERED NUMBER:

03853002 (England and Wales)

ACCOUNTANTS:

Wyatt Morris Golland Ltd

Park House

200 Drake Street

Rochdale

Lancashire

OL16 1PJ

FIXED ASSETS

Tangible assets

4

9,024

7,057

CURRENT ASSETS

Stocks

248,000

260,000

Debtors

75,541

2,728

Cash in hand

2,981

6,708

326,522

269,436

CREDITORS

Amounts falling due within one year

490,981

339,434

NET CURRENT LIABILITIES

(164,459

)

(69,998

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(155,435

)

(62,941

)

CREDITORS

Amounts falling due after more than one year

5

31,646

37,599

NET LIABILITIES

(187,081

)

(100,540

)

CAPITAL AND RESERVES

Called up share capital

3

3

Retained earnings

(187,084

)

(100,543

)

SHAREHOLDERS' FUNDS

(187,081

)

(100,540

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2024 and were signed on its behalf by:

M Atif - Director

1.	STATUTORY INFORMATION

Arien Distribution 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

The motor vehicles depreciation policy is to depreciate monthly from date of acquisition up to the date of disposal.

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 Statement of Income and Retained Earnings, 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.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

Although the company is insolvent as at 31 December 2023, the directors have intimated they that will continue to support the company. On that basis the accounts have been prepared on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2023

57,236

Additions

10,000

Disposals

(7,000

)

At 31 December 2023

60,236

DEPRECIATION

At 1 January 2023

50,179

Charge for year

2,783

Eliminated on disposal

(1,750

)

At 31 December 2023

51,212

NET BOOK VALUE

At 31 December 2023

9,024

At 31 December 2022

7,057

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2023

2022

£

£

Repayable by instalments

Bank loans more 5 yr by instal

7,837

13,790

6.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Bank overdrafts

168,525

166,982

7.	RELATED PARTY DISCLOSURES

The company occupies the premises which are owned by the partnership Arien Refrigeration which is jointly owned by the directors Y. T. Ahmed, T. Mahmood and R. A .Arien (a former director). The company paid rent to the partnership of £86,105 (2021-£80,430) during the year.

8.	ULTIMATE CONTROLLING PARTY

The directors Mr Tariq Mahmood and Mr Yusuf Tamir Ahmed control the company by virtue of the fact that they own equally two thirds of the issued share capital of the company.