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
Hassan & Abbas Ltd
Statement of financial position
as at 31 July 2023
Tangible assets
19,255
13,956
Cash at bank and in hand
667,568
892,499
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
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
Hassan & Abbas Ltd
Notes to the Accounts
for the year ended 31 July 2023
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.
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.
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 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.
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.
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.
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
At 31 July 2023
30,404
12,542
42,946
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
At 31 July 2023
9,222
10,033
19,255
At 31 July 2022
13,956
-
13,956
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
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Creditors: amounts falling due within one year
2023
2022
Trade creditors
211,944
307,590
Taxes and social security
134,141
263,274
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).