Ash Shifa Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 06237947 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2017

for

Ash Shifa Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M Rafiq

K R Qamar

SECRETARY:

Mrs B Qamar

REGISTERED OFFICE:

23 Churchlane

Pudsey

Leeds

West Yorkshire

LS28 7LD

REGISTERED NUMBER:

06237947 (England and Wales)

ACCOUNTANTS:

Isaacs

Trust House

St James Business Park

5 New Augustus Street

Bradford

West Yorkshire

BD1 5LL

FIXED ASSETS

Intangible assets

3

-

14,000

Tangible assets

4

302,515

257,462

302,515

271,462

CURRENT ASSETS

Stocks

34,526

30,907

Debtors

300,345

320,540

Cash at bank and in hand

287,685

334,771

622,556

686,218

CREDITORS

Amounts falling due within one year

229,795

223,045

NET CURRENT ASSETS

392,761

463,173

TOTAL ASSETS LESS CURRENT LIABILITIES

695,276

734,635

PROVISIONS FOR LIABILITIES

8,149

-

NET ASSETS

687,127

734,635

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

687,027

734,535

SHAREHOLDERS' FUNDS

687,127

734,635

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2017 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 Balance Sheet for the year ended 31 October 2017 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 29 March 2018 and were signed on its behalf by:

K R Qamar - Director

M Rafiq - Director

1.	STATUTORY INFORMATION

Ash Shifa 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 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. 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of ten 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.

Fixtures and fittings

-

25% on reducing balance

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 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.

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.

3.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 November 2016

and 31 October 2017

140,000

AMORTISATION

At 1 November 2016

126,000

Amortisation for year

14,000

At 31 October 2017

140,000

NET BOOK VALUE

At 31 October 2017

-

At 31 October 2016

14,000

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 November 2016

319,939

Additions

56,556

At 31 October 2017

376,495

DEPRECIATION

At 1 November 2016

62,477

Charge for year

11,503

At 31 October 2017

73,980

NET BOOK VALUE

At 31 October 2017

302,515

At 31 October 2016

257,462