Akbar Balti (Manchester) Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 05864874 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2018

FOR

AKBAR BALTI (MANCHESTER) LIMITED

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

S Hussain

M A Ahmed

SECRETARY:

M A Ahmed

REGISTERED OFFICE:

73-83 Liverpool Road

Deansgate

Manchester

M3 4NQ

REGISTERED NUMBER:

05864874 (England and Wales)

ACCOUNTANTS:

Shenward LLP

Chartered Accountants & Business Advisors

19 Bolling Road

Bradford

West Yorkshire

BD4 7BG

FIXED ASSETS

Tangible assets

5

163,648

186,453

CURRENT ASSETS

Stocks

9,525

12,370

Debtors

603,022

464,992

Cash at bank and in hand

206,692

246,456

819,239

723,818

CREDITORS

Amounts falling due within one year

300,214

249,922

NET CURRENT ASSETS

519,025

473,896

TOTAL ASSETS LESS CURRENT LIABILITIES

682,673

660,349

PROVISIONS FOR LIABILITIES

7

12,038

14,128

NET ASSETS

670,635

646,221

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

670,535

646,121

SHAREHOLDERS' FUNDS

670,635

646,221

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 30 June 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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 on 18 March 2019 and were signed on its behalf by:

S Hussain - Director

1.	STATUTORY INFORMATION

Akbar Balti (Manchester) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and

assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and

are based on experience and other factors, including expectations of future events that are believed to be

reasonable under the circumstances. Details of these judgements can be found in the accounting policies.

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.

Leasehold improvements

-

in accordance with the property

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

15% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds

and the carrying value of the asset, and is credited or charged to the income statement.

Impairment of fixed assets

At each reporting end date, the company reviews the carrying amounts of its tangible and intangible assets to

determine whether there is any indication that those assets have suffered an impairment loss. If any such

indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the

impairment loss (if any).

Recoverable amount is the higher of fair value less costs to sell and value in use. If the recoverable amount of

an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its

recoverable amount.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to

apply.

Stocks

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

slow moving items.

At each reporting end date, an assessment is made for impairment. Any excess of the carrying amount of stocks

over its cost and net realisable value is recognised as an impairment loss in the income statement. Reversals of

impairment losses are also recognised in the income statement.

Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the

contractual provisions of the instrument.

Basic financial assets, which include debtors and cash and bank balances, are initially recorded at transaction

price including transaction costs and are subsequently carried at amortised cost using the effective interest

method 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. Financial assets classified as

receivable within one year are not amortised.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are

settled, or when the company transfers the financial asset and substantially all the risks and rewards of

ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the

asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party,

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference

shares that are classified as debt, are initially recorded 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. Financial liabilities classified as payable within one year are not

amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of

business from suppliers. Amounts payable are classified as current liabilities in payment is due within one year

or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction

price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or

cancelled.

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.

Deferred tax

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

statement of financial position 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.

Provisions for liabilities

Provisions are made when an event has taken place that gives the company a legal or constructive obligation

that probably requires settlement by a transfer of economic benefit and a reliable estimate can be made of the

amount of the obligation.

Provisions are charged as an expense to the Income Statement in the year that the company becomes aware of

the obligation, and are measured at the best estimate at the Statement of Financial Position date of the

expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Statement of Financial

Position.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the

company has adequate resources to continue in operational existence for the foreseeable future. The company

therefore continues to adopt the going concern basis in preparing its financial statements.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 54 (2017 - 60 ) .

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2017

889,572

Additions

20,224

At 30 June 2018

909,796

DEPRECIATION

At 1 July 2017

703,119

Charge for year

43,029

At 30 June 2018

746,148

NET BOOK VALUE

At 30 June 2018

163,648

At 30 June 2017

186,453

6.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2018

2017

£

£

Within one year

130,200

130,200

Between one and five years

520,800

520,800

In more than five years

358,050

488,250

1,009,050

1,139,250

7.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred tax

Accelerated capital allowances

12,038

14,128

Deferred

tax

£

Balance at 1 July 2017

14,128

Utilised during year

(2,090

)

Balance at 30 June 2018

12,038

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

75

Ordinary A

£1

75

75

25

Ordinary B

£1

25

25

100

100

9.	RELATED PARTY DISCLOSURES

During the year, the company paid £52,000 (2017: £52,000) to Beaumont Management Services (UK) Ltd in

respect of management services which were provided on a commercial basis. Beaumont is controlled by a

company director, S Hussain.

10.	ULTIMATE CONTROLLING PARTY

The company is controlled by the directors by virtue of their directorship and shareholding.