Arien Distribution Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03853002 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

ARIEN DISTRIBUTION LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Y T Ahmed

T Mahmood

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

11,109

14,196

CURRENT ASSETS

Stocks

251,106

282,890

Debtors

5

5,169

5,969

Cash in hand

890

2,415

257,165

291,274

CREDITORS

Amounts falling due within one year

6

324,253

303,166

NET CURRENT LIABILITIES

(67,088

)

(11,892

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(55,979

)

2,304

CAPITAL AND RESERVES

Called up share capital

3

3

Retained earnings

(55,982

)

2,301

SHAREHOLDERS' FUNDS

(55,979

)

2,304

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

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

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 19 September 2018 and were signed on its behalf by:

Y T Ahmed - 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 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.

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 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.

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 2017, 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 (2016 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 January 2017

and 31 December 2017

10,059

40,177

39,801

90,037

DEPRECIATION

At 1 January 2017

9,193

35,989

30,659

75,841

Charge for year

173

628

2,286

3,087

At 31 December 2017

9,366

36,617

32,945

78,928

NET BOOK VALUE

At 31 December 2017

693

3,560

6,856

11,109

At 31 December 2016

866

4,188

9,142

14,196

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

2,708

2,738

Prepayments

2,461

3,231

5,169

5,969

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

153,952

141,440

Loans

11,778

10,300

Trade creditors

42,324

46,366

Social security and other taxes

2,502

3,584

VAT

12,459

15,489

Directors' current accounts

81,888

67,797

Accrued expenses

19,350

18,190

324,253

303,166

7.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank overdrafts

153,952

141,440

8.	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 (2016-£86,105) during the year.

9.	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.