AAA Oriental Limited - Accounts

AAA Oriental Limited - Accounts

AAA ORIENTAL LIMITED - Company Information

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Registered Number: 11076935
England and Wales

 

 

 

AAA ORIENTAL LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 August 2022

End date: 31 July 2023

AAA Oriental Limited
Contents Page
For the year ended 31 July 2023
 
 		 Notes
 		 2023
£		   2022
£
Fixed assets      
Tangible fixed assets 3 69,132    57,510 
69,132    57,510 
Current assets      
Stocks 877,832    859,909 
Debtors 859,144    1,051,928 
Cash at bank and in hand 137,639    41,447 
1,874,615    1,953,284 
Creditors: amount falling due within one year (1,902,515)   (1,908,150)
Net current liabilities (27,900)   45,134 
 
Total assets less current liabilities 41,232    102,644 
Creditors: amount falling due after more than one year (7,911)   0 
Net assets 33,321    102,644 
 

Capital and reserves 		     
Called up share capital 4 100    100 
Profit and loss account 33,221    102,544 
Shareholder's funds 33,321    102,644 
 


For the year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006 the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 11 January 2024 and were signed on its behalf by:


-------------------------------
Rashpal Sandhu
Director
1
General Information
AAA Oriental Limited is a private company, limited by shares, registered in England and Wales, registration number 11076935, registration address Unit B , Hoton Stores Wymeswold Road, Hoton, Loughborough, Leicestershire, ENGLAND, LE12 5SN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(1A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 33.33 Reducing Balance
Plant and Machinery 33.33 Reducing Balance
Motor Vehicles 33.33 Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 24 (2022 : 23).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £
At 01 August 2022 3,851    53,000    9,917    66,768 
Additions 6,090    38,204    1,820    46,114 
Disposals -    -    -    - 
At 31 July 2023 9,941    91,204    11,737    112,882 
Depreciation
At 01 August 2022 176    5,776    3,306    9,258 
Charge for year 3,255    28,427    2,810    34,492 
On disposals -    -    -    - 
At 31 July 2023 3,431    34,203    6,116    43,750 
Net book values
Closing balance as at 31 July 2023 6,510    57,001    5,621    69,132 
Opening balance as at 01 August 2022 3,675    47,224    6,611    57,510 


4.

Share Capital

Allotted, called up and fully paid
2023
£		   2022
£
100 Class A shares of £1.00 each 100    100 
100    100 

2