Registered number
12117860
ABAYAS LTD
Filleted Accounts
31 July 2023
ABAYAS LTD
Registered number: 12117860
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 3,365 3,365
Current assets
Stocks 21,069 19,497
Debtors 4 - 6,347
Cash at bank and in hand 34,236 23,771
55,305 49,615
Creditors: amounts falling due within one year 5 (32,259) (32,890)
Net current assets 23,046 16,725
Net assets 26,411 20,090
Capital and reserves
Called up share capital 100 100
Profit and loss account 26,311 19,990
Shareholders' funds 26,411 20,090
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.
Ammatullah Chaudhry
Director
Approved by the board on 17 April 2024
ABAYAS LTD
Notes to the Accounts
for the year ended 31 July 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.
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.
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 2 0
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2022 3,365
Additions -
At 31 July 2023 3,365
Depreciation
At 31 July 2023 -
Net book value
At 31 July 2023 3,365
At 31 July 2022 3,365
4 Debtors 2023 2022
£ £
Trade debtors - 6,347
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 8,206 3,602
Directors current account 18,765 26,851
Taxation and social security costs 4,088 237
Other creditors 1,200 2,200
32,259 32,890
6 Other information
ABAYAS LTD is a private company limited by shares and incorporated in England. Its registered office is:
90 Park Road
Prestwich
Manchester
M25 0DY
ABAYAS LTD 12117860 false 2022-08-01 2023-07-31 2023-07-31 VT Final Accounts April 2024 Ammatullah Chaudhry No description of principal activity 12117860 2021-08-01 2022-07-31 12117860 core:WithinOneYear 2022-07-31 12117860 core:ShareCapital 2022-07-31 12117860 core:RetainedEarningsAccumulatedLosses 2022-07-31 12117860 2022-08-01 2023-07-31 12117860 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 12117860 bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 12117860 bus:Director40 2022-08-01 2023-07-31 12117860 2 2022-08-01 2023-07-31 12117860 core:PlantMachinery 2022-08-01 2023-07-31 12117860 countries:England 2022-08-01 2023-07-31 12117860 bus:FRS102 2022-08-01 2023-07-31 12117860 bus:FilletedAccounts 2022-08-01 2023-07-31 12117860 2023-07-31 12117860 core:WithinOneYear 2023-07-31 12117860 core:ShareCapital 2023-07-31 12117860 core:RetainedEarningsAccumulatedLosses 2023-07-31 12117860 core:PlantMachinery 2023-07-31 12117860 2022-07-31 12117860 core:PlantMachinery 2022-07-31 iso4217:GBP xbrli:pure