Acorah Software Products - Accounts Production 14.6.300 false true 31 July 2022 1 August 2021 false 1 August 2022 31 July 2023 31 July 2023 09118065 Mr Farhan Aziz Mr Saqib Rafique iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09118065 2022-07-31 09118065 2023-07-31 09118065 2022-08-01 2023-07-31 09118065 frs-core:CurrentFinancialInstruments 2023-07-31 09118065 frs-core:Non-currentFinancialInstruments 2023-07-31 09118065 frs-core:RevaluationReserve 2022-07-31 09118065 frs-core:RevaluationReserve 2023-07-31 09118065 frs-core:ShareCapital 2023-07-31 09118065 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 09118065 frs-bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 09118065 frs-bus:FilletedAccounts 2022-08-01 2023-07-31 09118065 frs-bus:SmallEntities 2022-08-01 2023-07-31 09118065 frs-bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 09118065 frs-bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 09118065 frs-core:DeferredTaxation 2022-07-31 09118065 frs-core:DeferredTaxation 2023-07-31 09118065 frs-bus:Director1 2022-08-01 2023-07-31 09118065 frs-bus:Director2 2022-08-01 2023-07-31 09118065 frs-countries:EnglandWales 2022-08-01 2023-07-31 09118065 2021-07-31 09118065 2022-07-31 09118065 2021-08-01 2022-07-31 09118065 frs-core:CurrentFinancialInstruments 2022-07-31 09118065 frs-core:Non-currentFinancialInstruments 2022-07-31 09118065 frs-core:RevaluationReserve 2022-07-31 09118065 frs-core:ShareCapital 2022-07-31 09118065 frs-core:RetainedEarningsAccumulatedLosses 2022-07-31
Registered number: 09118065
Faaz Estate & Builders Ltd
Financial Statements
For The Year Ended 31 July 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 09118065
2023 2022
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 819,082 806,929
819,082 806,929
CURRENT ASSETS
Debtors 5 599,200 16,713
Cash at bank and in hand 3,028 1,933
602,228 18,646
Creditors: Amounts Falling Due Within One Year 6 (63,686 ) (83,599 )
NET CURRENT ASSETS (LIABILITIES) 538,542 (64,953 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,357,624 741,976
Creditors: Amounts Falling Due After More Than One Year 7 (1,100,123 ) (629,921 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (23,790 ) (23,790 )
NET ASSETS 233,711 88,265
CAPITAL AND RESERVES
Called up share capital 10 2 2
Revaluation reserve 11 101,419 101,419
Profit and Loss Account 132,290 (13,156 )
SHAREHOLDERS' FUNDS 233,711 88,265
Page 1
Page 2
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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Farhan Aziz
Director
29/07/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Faaz Estate & Builders Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09118065 . The registered office is 1 Mychell House, Pincott Road, Wimbledon, London, SW19 2NN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Investment Property
2023
£
Fair Value
As at 1 August 2022 806,929
Additions 444,614
Disposals (432,461 )
As at 31 July 2023 819,082
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 3,200 -
Other debtors 26,000 16,713
29,200 16,713
Due after more than one year
Amounts owed by group undertakings 570,000 -
599,200 16,713
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6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Bank loans and overdrafts 43,167 49,476
Other creditors 20,519 34,123
63,686 83,599
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 1,100,123 629,921
8. Secured Creditors
Of the creditors the following amounts are secured.
2023 2022
£ £
Bank loans and overdrafts 1,100,123 629,921
9. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 August 2022 23,790 23,790
Balance at 31 July 2023 23,790 23,790
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
11. Reserves
Revaluation Reserve
£
As at 1 August 2022 101,419
As at 31 July 2023 101,419
12. Related Party Transactions
Included in debtors is £570,000 receivable from Faaz Estate Invstments Ltd. This amount is related to the disposal of long leases out of freehold to the above mentioned company which is 100% wholy owned subsidary of the reporting entity. The gain on disposal of £137,539 is treated as no gain and no loss value transfer for corporation tax purposes and group relief is claimed on transfer.   
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