REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2022 |
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ALAMI INTERNATIONAL LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2022 |
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FOR |
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ALAMI INTERNATIONAL LIMITED |
ALAMI INTERNATIONAL LIMITED (REGISTERED NUMBER: 01149214) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH SEPTEMBER 2022 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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ALAMI INTERNATIONAL LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30TH SEPTEMBER 2022 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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BANKERS: |
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Habib Bank AG Zurich |
ALAMI INTERNATIONAL LIMITED (REGISTERED NUMBER: 01149214) |
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BALANCE SHEET |
30TH SEPTEMBER 2022 |
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2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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Investment property | 6 |
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CURRENT ASSETS |
Stocks |
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Debtors | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 9 | ( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 11 |
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Fair value reserve | 12 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
ALAMI INTERNATIONAL LIMITED (REGISTERED NUMBER: 01149214) |
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BALANCE SHEET - continued |
30TH SEPTEMBER 2022 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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ALAMI INTERNATIONAL LIMITED (REGISTERED NUMBER: 01149214) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH SEPTEMBER 2022 |
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1. | STATUTORY INFORMATION |
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Alami International Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Going concern |
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Taking into account the support of our bank, directors, shareholders and other factors, the Directors have taken a view that the Company will have sufficient financial resources to continue as a going concern. |
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Turnover |
Turnover represents value of goods sold, excluding value added tax and net of any discounts. |
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Turnover for sale of goods is recognised when the significant risks and rewards of ownership of the goods have been transferred to the buyer and when there is no continuing involvement with goods. |
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Where customers are arranging for the collection of the goods, turnover is recognised when the goods are handed over to the delivery carriers. For other sales transactions, turnover is recognised when the goods are physically handed over to the customer. |
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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. |
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Website costs |
Website costs is amortised over a period of three years on a straight line basis. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Freehold buildings are not depreciated as the directors consider that as they maintain the building no depreciation should be provided. |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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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. |
ALAMI INTERNATIONAL LIMITED (REGISTERED NUMBER: 01149214) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH SEPTEMBER 2022 |
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2. | ACCOUNTING POLICIES - continued |
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Government grants |
Government grants are recognised when it is reasonable to expect that the grants will be received and that all related conditions will be met, usually on submission of a valid claim for payment. |
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Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. |
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Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1st October 2021 |
and 30th September 2022 |
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AMORTISATION |
At 1st October 2021 |
and 30th September 2022 |
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NET BOOK VALUE |
At 30th September 2022 |
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At 30th September 2021 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1st October 2021 |
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Additions |
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At 30th September 2022 |
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DEPRECIATION |
At 1st October 2021 |
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Charge for year |
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At 30th September 2022 |
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NET BOOK VALUE |
At 30th September 2022 |
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At 30th September 2021 |
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Included in land and buildings is freehold land of £5,805,019 (2021 - £5,805,019). The directors have not depreciated the building - the effect of this is to overstate the company's profit for the year by £168,819 and to overstate the company's net book value of fixed assets, and thus the company's net assets and cumulative reserves at the year- end by £422,048. |
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Freehold land and building comprise an asset under construction of £2,892,986 (2021:£1,092,452). |
ALAMI INTERNATIONAL LIMITED (REGISTERED NUMBER: 01149214) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH SEPTEMBER 2022 |
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6. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1st October 2021 |
and 30th September 2022 |
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NET BOOK VALUE |
At 30th September 2022 |
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At 30th September 2021 |
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Fair value at 30th September 2022 is represented by: |
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Valuation in 2010 | 2,274,908 |
Valuation in 2019 | 1,432,962 |
Cost | 3,682,130 |
7,390,000 |
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If investment properties had not been revalued they would have been included at the following historical cost: |
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2022 | 2021 |
£ | £ |
Cost | 3,682,130 | 3,682,130 |
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In the opinion of the directors, the market values of the investment properties as at 30th September 2022 are unchanged at the revalued amounts as shown above. |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
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Other debtors |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans |
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Other creditors |
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ALAMI INTERNATIONAL LIMITED (REGISTERED NUMBER: 01149214) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH SEPTEMBER 2022 |
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9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
2022 | 2021 |
£ | £ |
Amounts falling due in more than five years: |
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Repayable by instalments |
Banks loans payable after more |
than 5 years by instalments | 5,454,371 | 5,347,167 |
5,454,371 | 5,347,167 |
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10. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2022 | 2021 |
£ | £ |
Bank overdrafts |
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Bank loans |
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Bank facilities are secured against the freehold property and certain investment properties, including a lien on a deposit of £75,000 held by a bank. |
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11. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
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Ordinary Shares | £1 | 1,667,305 | 1,667,305 |
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12. | RESERVES |
Fair |
value |
reserve |
£ |
At 1st October 2021 |
and 30th September 2022 |
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13. | RELATED PARTY DISCLOSURES |
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The Company has received interest free loans from the shareholders/directors and their immediate family members. The balance payable at the year-end was £1,567,906 (2021: £1,500,291). |
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The Company has received a loan from a Company with shareholders and directors in common and the balance payable at the year-end was £132,380 (2021: £131,746). |
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14. | ULTIMATE CONTROLLING PARTY |
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The company was controlled throughout the current and previous period by its directors and members of their close family, by virtue of the fact that between them they own all of the company's ordinary issued share capital. |