Registered number
11546421
DAVID & BARAKAH LTD
Unaudited Filleted Accounts
31 August 2023
DAVID & BARAKAH LTD
Registered number: 11546421
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 70,000 70,000
Current assets
Cash at bank and in hand 4,113 4,209
Creditors: amounts falling due within one year 4 (57,139) (58,058)
Net current liabilities (53,026) (53,849)
Net assets 16,974 16,151
Capital and reserves
Called up share capital 1 1
Revaluation reserve 6 29,207 29,207
Profit and loss account (12,234) (13,057)
Shareholder's funds 16,974 16,151
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dawoud Khalid Hussain
Director
Approved by the board on 17 January 2024
DAVID & BARAKAH LTD
Notes to the Accounts
for the year ended 31 August 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
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.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 September 2022 70,000
At 31 August 2023 70,000
Depreciation
At 31 August 2023 -
Net book value
At 31 August 2023 70,000
At 31 August 2022 70,000
Freehold land and buildings: 2023 2022
£ £
Historical cost 70,000 65,000
Cumulative depreciation based on historical cost - -
70,000 65,000
The residential property is revalued at its fair value every year based on the current market value.
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 540 -
Director's account 56,599 58,058
57,139 58,058
5 Loans 2023 2022
£ £
Creditors include:
Instalments falling due for payment after more than five years - 25,011
6 Revaluation reserve 2023 2022
£ £
At 1 September 2022 29,207 24,207
Gain on revaluation of land and buildings - 5,000
At 31 August 2023 29,207 29,207
7 Related party transactions
During the year, the director repaid the bank loan of the company .
8 Controlling party
The director who is also 100% shareholder of the company, is the ultimate controlling party.
9 Other information
DAVID & BARAKAH LTD is a private company limited by shares and incorporated in England. Its registered office is:
71-75 Shelton Street,
London
WC2H 9JQ
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