Registered number
02843021
WARIS ENTERPRISES LIMITED
Filleted Accounts
31 August 2023
WARIS ENTERPRISES LIMITED
Registered number: 02843021
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 55,263 66,033
Tangible assets 4 134,342 149,230
189,605 215,263
Current assets
Stocks 3,905 3,750
Debtors 5 25,387 11,497
Cash at bank and in hand 13,119 6,991
42,411 22,238
Creditors: amounts falling due within one year 6 (45,987) (29,837)
Net current liabilities (3,576) (7,599)
Total assets less current liabilities 186,029 207,664
Creditors: amounts falling due after more than one year 7 (24,164) (44,657)
Provisions for liabilities (4,976) (4,976)
Net assets 156,889 158,031
Capital and reserves
Called up share capital 2 2
Profit and loss account 156,887 158,029
Shareholders' funds 156,889 158,031
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Amaan Monaf
Director
Approved by the board on 6 December 2023
WARIS ENTERPRISES LIMITED
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Goodwill over 15 years
Leasehold land and buildings 8.50% reducing balance
Motor Vehicle 15% reducing balance
Fixtures, fittings, tools and equipment 15% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 7 7
3 Intangible fixed assets £
Goodwill:
Cost
At 1 September 2022 71,803
At 31 August 2023 71,803
Amortisation
At 1 September 2022 5,770
Provided during the year 10,770
At 31 August 2023 16,540
Net book value
At 31 August 2023 55,263
At 31 August 2022 66,033
Goodwill is being written off in equal annual instalments over its estimated economic life of 15 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 September 2022 227,535 140,395 7,250 375,180
At 31 August 2023 227,535 140,395 7,250 375,180
Depreciation
At 1 September 2022 112,203 111,475 2,272 225,950
Charge for the year 9,803 4,338 747 14,888
At 31 August 2023 122,006 115,813 3,019 240,838
Net book value
At 31 August 2023 105,529 24,582 4,231 134,342
At 31 August 2022 115,332 28,920 4,978 149,230
5 Debtors 2023 2022
£ £
Trade debtors 7,484 7,095
L&R Tech Solution Ltd 14,604 -
Other debtors 3,299 4,402
25,387 11,497
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,776 -
Trade creditors 3,399 289
Taxation and social security costs 18,824 17,578
Other creditors 12,988 11,970
45,987 29,837
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 24,164 44,657
8 Other information
WARIS ENTERPRISES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
17 Plumbers Row
Unit D
Upper ground
London
E1 1EQ
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