A & R PRODUCE LTD

Contents
	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 03928056

		2018		2017
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	3		4,250		-

			4,250		-
CURRENT ASSETS
Stocks	4	1,127		910
Debtors	5	163,980		102,128
Cash at bank and in hand		85,199		74,787

		250,306		177,825
Creditors: Amounts Falling Due Within One Year	6	(230,186 )		(177,196 )

NET CURRENT ASSETS (LIABILITIES)			20,120		629

TOTAL ASSETS LESS CURRENT LIABILITIES			24,370		629

NET ASSETS			24,370		629

CAPITAL AND RESERVES
Called up share capital	7		1		1
Profit and Loss Account			24,369		628

SHAREHOLDERS' FUNDS			24,370		629

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A & R PRODUCE LTD

Balance Sheet (continued)

As at 31 May 2018

For the year ending 31 May 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Ismail A Wadiwala

12/07/2018

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

1.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

1.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	straight line 33%
Fixtures & Fittings	straight line 33%

1.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

1.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

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A & R PRODUCE LTD

Notes to the Financial Statements (continued)

For The Year Ended 31 May 2018

2. Average Number of Employees

Average number of employees, including directors, during the year was as follows:

	2018	2017
Office and administration	-	9
Sales, marketing and distribution	-	20

	-	29

3. Tangible Assets


	Plant & Machinery	Fixtures & Fittings	Total
	£	£	£
Cost
As at 1 June 2017	40,638	25,339	65,977
Additions	4,250	-	4,250

As at 31 May 2018	44,888	25,339	70,227

Depreciation
As at 1 June 2017	40,638	25,339	65,977

As at 31 May 2018	40,638	25,339	65,977

Net Book Value
As at 31 May 2018	4,250	-	4,250

As at 1 June 2017	-	-	-

4. Stocks

	2018	2017
	£	£
Stock - finished goods	1,127	910

	1,127	910

5. Debtors

	2018	2017
	£	£
Due within one year
Trade debtors	128,455	95,344
Prepayments and accrued income	1,934	1,934
VAT	5,585	4,850
Directors' loan accounts	28,006	-

	163,980	102,128

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A & R PRODUCE LTD

Notes to the Financial Statements (continued)

For The Year Ended 31 May 2018

6. Creditors: Amounts Falling Due Within One Year

	2018	2017
	£	£
Trade creditors	214,070	152,938
Corporation tax	4,572	1,217
PAYE (Current liabilities - creditors < 1 year)	4,949	3,994
Other creditors	6,595	6,595
Directors' loan accounts	-	12,452

	230,186	177,196

7. Share Capital

	2018		2017
Allotted, Called up and fully paid	1		1

8. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

The above loan is unsecured, interest free and repayable on demand.

9. General Information

A & R PRODUCE LTD is a private company, limited by shares, incorporated in England & Wales, registered number 03928056. The registered office is 1 Queens Yard, White Post Lane, Hackney London, E9 5EN.

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