1 July 2022 false No description of principal activity Taxfiler 2023.10 SC426100business:PrivateLimitedCompanyLtd2022-07-012023-06-30 SC4261002022-06-30 SC4261002022-07-012023-06-30 SC426100business:AuditExemptWithAccountantsReport2022-07-012023-06-30 SC426100business:FilletedAccounts2022-07-012023-06-30 SC4261002023-06-30 SC426100business:Director12022-07-012023-06-30 SC426100business:Director22022-07-012023-06-30 SC426100business:RegisteredOffice2022-07-012023-06-30 SC4261002022-06-30 SC426100core:WithinOneYear2023-06-30 SC426100core:WithinOneYear2022-06-30 SC426100core:ShareCapitalcore:PreviouslyStatedAmount2023-06-30 SC426100core:ShareCapitalcore:PreviouslyStatedAmount2022-06-30 SC426100core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-06-30 SC426100core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-06-30 SC426100core:PreviouslyStatedAmount2023-06-30 SC426100core:PreviouslyStatedAmount2022-06-30 SC426100business:SmallEntities2022-07-012023-06-30 SC426100countries:Scotland2022-07-012023-06-30 SC426100core:ComputerEquipment2022-07-012023-06-30 SC426100core:ComputerEquipment2022-06-30 SC426100core:ComputerEquipment2023-06-30 SC4261002021-07-012022-06-30 iso4217:GBP xbrli:pure
Company Registration No. SC426100 (Scotland)
Affan Engineering Ltd Unaudited accounts for the year ended 30 June 2023
Affan Engineering Ltd Unaudited accounts Contents
Page
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Affan Engineering Ltd Company Information for the year ended 30 June 2023
Directors
Aftab Khan Muneeba Khan
Company Number
SC426100 (Scotland)
Registered Office
45 Friarsfield Road Cults Aberdeen Aberdeenshire AB15 9LB Scotland
Accountants
Eureka Accountants Limited 63 Lancing Road Newbury Park London IG2 7DQ
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Affan Engineering Ltd Statement of financial position as at 30 June 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
- 
320 
Current assets
Debtors
15,755 
17,322 
Cash at bank and in hand
29,669 
32,349 
45,424 
49,671 
Creditors: amounts falling due within one year
(45,258)
(49,317)
Net current assets
166 
354 
Net assets
166 
674 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
66 
574 
Shareholders' funds
166 
674 
For the year ending 30 June 2023 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 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 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.
The financial statements were approved by the Board of Directors and authorised for issue on 16 November 2023 and were signed on its behalf by
Aftab Khan Director Company Registration No. SC426100
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Affan Engineering Ltd Notes to the Accounts for the year ended 30 June 2023
1
Statutory information
Affan Engineering Ltd is a private company, limited by shares, registered in Scotland, registration number SC426100. The registered office is 45 Friarsfield Road, Cults, Aberdeen, Aberdeenshire, AB15 9LB, Scotland.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover
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.
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:
Computer equipment
3 years straight line
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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Affan Engineering Ltd Notes to the Accounts for the year ended 30 June 2023
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Presentation currency
The accounts are presented in £ sterling.
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 July 2022
1,049 
At 30 June 2023
1,049 
Depreciation
At 1 July 2022
729 
Charge for the year
320 
At 30 June 2023
1,049 
Net book value
At 30 June 2023
- 
At 30 June 2022
320 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
14,188 
17,010 
Accrued income and prepayments
1,567 
312 
15,755 
17,322 
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Affan Engineering Ltd Notes to the Accounts for the year ended 30 June 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
6,445 
6,425 
Taxes and social security
10,636 
12,073 
Other creditors
988 
983 
Loans from directors
27,189 
29,836 
45,258 
49,317 
7
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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