Acorah Software Products - Accounts Production 14.5.601 false true 31 July 2022 19 July 2021 false 1 August 2022 31 July 2023 31 July 2023 13518541 Mr M Zaffar Mrs S Zaffar Mr M A Zaffar and Mrs S Zaffar true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13518541 2022-07-31 13518541 2023-07-31 13518541 2022-08-01 2023-07-31 13518541 frs-core:CurrentFinancialInstruments 2023-07-31 13518541 frs-core:Non-currentFinancialInstruments 2023-07-31 13518541 frs-core:FurnitureFittings 2023-07-31 13518541 frs-core:FurnitureFittings 2022-08-01 2023-07-31 13518541 frs-core:FurnitureFittings 2022-07-31 13518541 frs-core:ShareCapital 2023-07-31 13518541 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 13518541 frs-bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 13518541 frs-bus:FilletedAccounts 2022-08-01 2023-07-31 13518541 frs-bus:SmallEntities 2022-08-01 2023-07-31 13518541 frs-bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 13518541 frs-bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 13518541 1 2022-08-01 2023-07-31 13518541 frs-bus:Director1 2022-08-01 2023-07-31 13518541 frs-bus:Director2 2022-08-01 2023-07-31 13518541 frs-countries:EnglandWales 2022-08-01 2023-07-31 13518541 2021-07-18 13518541 2022-07-31 13518541 2021-07-19 2022-07-31 13518541 frs-core:CurrentFinancialInstruments 2022-07-31 13518541 frs-core:Non-currentFinancialInstruments 2022-07-31 13518541 frs-core:ShareCapital 2022-07-31 13518541 frs-core:RetainedEarningsAccumulatedLosses 2022-07-31
Registered number: 13518541
A&Z PROPERTIES GROUP LTD
Unaudited Financial Statements
For The Year Ended 31 July 2023
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 13518541
31 July 2023 31 July 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,256 820
1,256 820
CURRENT ASSETS
Stocks 5 536,000 617,580
Cash at bank and in hand 404 987
536,404 618,567
Creditors: Amounts Falling Due Within One Year 6 (244,950 ) (541,112 )
NET CURRENT ASSETS (LIABILITIES) 291,454 77,455
TOTAL ASSETS LESS CURRENT LIABILITIES 292,710 78,275
Creditors: Amounts Falling Due After More Than One Year 7 (293,705 ) (80,685 )
NET LIABILITIES (995 ) (2,410 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Income Statement (1,095 ) (2,510 )
SHAREHOLDERS' FUNDS (995) (2,410)
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For the year ending 31 July 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.
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 Income Statement.
On behalf of the board
Mr M Zaffar
Director
Mrs S Zaffar
Director
12/04/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
A&Z PROPERTIES GROUP LTD is a private company, limited by shares, incorporated in England & Wales, registered number 13518541 . The registered office is Ferguson House, 113 Cranbrook Road, Ilford, Essex, IG1 4PU.
2. Accounting Policies
2.1. 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.
The financial statements are prepared in sterling , which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.
2.2. 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.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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:
Fixtures & Fittings 20% p.a. reducing balance
2.4. 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.
2.5. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
...CONTINUED
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2.5. Financial Instruments - continued
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Equity Instrument
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 August 2022 1,025
Additions 750
As at 31 July 2023 1,775
Depreciation
As at 1 August 2022 205
Provided during the period 314
As at 31 July 2023 519
Net Book Value
As at 31 July 2023 1,256
As at 1 August 2022 820
5. Stocks
31 July 2023 31 July 2022
£ £
Finished goods 536,000 617,580
6. Creditors: Amounts Falling Due Within One Year
31 July 2023 31 July 2022
£ £
Bank loans and overdrafts 243,750 537,500
Other creditors - 2,712
Accruals and deferred income 1,200 900
244,950 541,112
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7. Creditors: Amounts Falling Due After More Than One Year
31 July 2023 31 July 2022
£ £
Directors loan account 293,705 80,685
8. Secured Creditors
Of the creditors the following amounts are secured.
31 July 2023 31 July 2022
£ £
Bank loans and overdrafts 243,750 537,500
9. Share Capital
31 July 2023 31 July 2022
£ £
Allotted, Called up and fully paid 100 100
10. Related Party Transactions
At balance sheet date, Mr M A Zaffar, a director of the company, was owed £146,852 (2022: £40,342) by A&Z Properties Group Ltd. At balance sheet date, Mrs S Zaffar, a director of the company, was owed £146,853 (2022: £40,343) by A&Z Properties Group Ltd.
11. Ultimate Controlling Party
The company's ultimate controlling party is Mr M A Zaffar and Mrs S Zaffar by virtue of his ownership of 100% of the issued share capital in the company.
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