Company Registration No. 11076935 (England and Wales)
AAA Oriental Limited
Unaudited accounts
for the year ended 31 October 2020
AAA Oriental Limited
Unaudited accounts
Contents
AAA Oriental Limited
Company Information
for the year ended 31 October 2020
Directors
Ajay Sandhu
Rashpal Sandhu
Company Number
11076935 (England and Wales)
Registered Office
Unit B , Hoton Stores, Wymeswold Road
Hoton
Loughborough
Leicestershire
LE12 5SN
England
Accountants
Taylor Accountancy Services
2 Lynmoor Court
Hucknall
Nottingham
NG15 8FT
AAA Oriental Limited
Statement of financial position
as at 31 October 2020
Tangible assets
25,834
36,667
Inventories
602,883
95,905
Cash at bank and in hand
59,296
361
Creditors: amounts falling due within one year
(1,161,036)
(681,877)
Net current assets/(liabilities)
24,208
(113,188)
Total assets less current liabilities
50,042
(76,521)
Creditors: amounts falling due after more than one year
(100,000)
(100,000)
Net liabilities
(49,958)
(176,521)
Called up share capital
100
100
Profit and loss account
(50,058)
(176,621)
Shareholders' funds
(49,958)
(176,521)
For the year ending 31 October 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 12 February 2021 and were signed on its behalf by
Ajay Sandhu
Director
Company Registration No. 11076935
AAA Oriental Limited
Notes to the Accounts
for the year ended 31 October 2020
AAA Oriental Limited is a private company, limited by shares, registered in England and Wales, registration number 11076935. The registered office is Unit B , Hoton Stores, Wymeswold Road , Hoton, Loughborough, Leicestershire, LE12 5SN, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33.33% reducing balance
Motor vehicles
33.33% reducing balance
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
AAA Oriental Limited
Notes to the Accounts
for the year ended 31 October 2020
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 November 2019
-
40,000
40,000
At 31 October 2020
3,000
40,000
43,000
At 1 November 2019
-
3,333
3,333
Charge for the year
500
13,333
13,833
At 31 October 2020
500
16,666
17,166
At 31 October 2020
2,500
23,334
25,834
At 31 October 2019
-
36,667
36,667
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Motor vehicles
23,334
36,667
Raw materials
602,883
95,905
Trade debtors
437,899
418,503
Accrued income and prepayments
31,056
26,151
Other debtors
45,834
11,083
7
Creditors: amounts falling due within one year
2020
2019
Trade creditors
984,328
572,538
Taxes and social security
61,264
-
Loans from directors
111,624
107,589
8
Creditors: amounts falling due after more than one year
2020
2019
Other creditors
100,000
100,000
AAA Oriental Limited
Notes to the Accounts
for the year ended 31 October 2020
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Average number of employees
During the year the average number of employees was 20 (2019: 12).
