Company Registration No. 04721504 (England and Wales)
Al-Farooq International Limited
Filleted accounts
for the year ended 30 April 2018
Al-Farooq International Limited
Filleted accounts
Contents
Al-Farooq International Limited
Company Information
for the year ended 30 April 2018
Company Number
04721504 (England and Wales)
Registered Office
68 Asfordby Street
Leicester
LE5 3QG
Accountants
YP Finance
Hawthorne House
17A Hawthorne Drive
Leicester
Leicestershire
LE5 6DL
Al-Farooq International Limited
Statement of financial position
as at
30 April 2018
Tangible assets
1,895
2,229
Inventories
15,000
30,000
Cash at bank and in hand
10,620
5,508
Creditors: amounts falling due within one year
(2,266)
(2,266)
Net current assets
23,354
33,242
Total assets less current liabilities
25,249
35,471
Creditors: amounts falling due after more than one year
(38,551)
(56,173)
Net liabilities
(13,302)
(20,702)
Called up share capital
250
250
Profit and loss account
(13,552)
(20,952)
Shareholders' funds
(13,302)
(20,702)
For the year ending 30 April 2018 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 director acknowledges his 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.
Approved by the Board on 29 January 2019.
Farooq Mulla
Director
Company Registration No. 04721504
Al-Farooq International Limited
Notes to the Accounts
for the year ended 30 April 2018
Al-Farooq International Limited is a private company, limited by shares, registered in England and Wales, registration number 04721504. The registered office is 68 Asfordby Street , Leicester , LE5 3QG.
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.
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:
Fixtures & fittings
15% on reducing balance
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.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Al-Farooq International Limited
Notes to the Accounts
for the year ended 30 April 2018
4
Tangible fixed assets
Fixtures & fittings
Cost or valuation
At cost
Finished goods
15,000
30,000
6
Creditors: amounts falling due within one year
2018
2017
7
Creditors: amounts falling due after more than one year
2018
2017
Other creditors
38,551
56,173
8
Share capital
2018
2017
Allotted, called up and fully paid:
250 Ordinary shares of £1 each
250
250
9
Average number of employees
During the year the average number of employees was 2 (2017: 4).