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Company Registration No. 07697895 (England and Wales)
Hassan & Abbas Ltd Unaudited accounts for the year ended 31 July 2023
Hassan & Abbas Ltd Unaudited accounts Contents
Page
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Hassan & Abbas Ltd Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
19,255 
13,956 
Current assets
Inventories
29,800 
52,400 
Debtors
445,685 
422,141 
Cash at bank and in hand
667,568 
892,499 
1,143,053 
1,367,040 
Creditors: amounts falling due within one year
(349,865)
(576,771)
Net current assets
793,188 
790,269 
Total assets less current liabilities
812,443 
804,225 
Provisions for liabilities
Deferred tax
(4,814)
(2,652)
Net assets
807,629 
801,573 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
807,529 
801,473 
Shareholders' funds
807,629 
801,573 
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 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 11 April 2024 and were signed on its behalf by
Imran Ali SABIR Director Company Registration No. 07697895
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Hassan & Abbas Ltd Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
Hassan & Abbas Ltd is a private company, limited by shares, registered in England and Wales, registration number 07697895. The registered office is 42 The Broadway, Oadby, Leicester, LE2 2HE.
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.
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:
Plant & machinery
20% reducing balance
Inventories
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.
Foreign exchange
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.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
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Hassan & Abbas Ltd Notes to the Accounts for the year ended 31 July 2023
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 August 2022
30,404 
- 
30,404 
Additions
- 
12,542 
12,542 
At 31 July 2023
30,404 
12,542 
42,946 
Depreciation
At 1 August 2022
16,448 
- 
16,448 
Charge for the year
4,734 
2,509 
7,243 
At 31 July 2023
21,182 
2,509 
23,691 
Net book value
At 31 July 2023
9,222 
10,033 
19,255 
At 31 July 2022
13,956 
- 
13,956 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
196,560 
273,900 
Amounts due from group undertakings etc.
220,055 
120,055 
Accrued income and prepayments
7,530 
6,798 
Other debtors
21,540 
21,388 
445,685 
422,141 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
211,944 
307,590 
Taxes and social security
134,141 
263,274 
Other creditors
280 
2,407 
Accruals
3,500 
3,500 
349,865 
576,771 
7
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
8
Average number of employees
During the year the average number of employees was 5 (2022: 5).
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