3 false false false false false false false false false false true false false false false false false No description of principal activity 2022-10-01 Sage Accounts Production Advanced 2023 - FRS102_2023 50,000 50,000 9,544 4,726 14,270 8,655 2,361 11,016 3,254 889 xbrli:pure xbrli:shares iso4217:GBP 09142480 2022-10-01 2023-09-30 09142480 2023-09-30 09142480 2022-09-30 09142480 2021-10-01 2022-09-30 09142480 2022-09-30 09142480 2021-09-30 09142480 core:NetGoodwill 2022-10-01 2023-09-30 09142480 bus:Director1 2022-10-01 2023-09-30 09142480 core:NetGoodwill 2023-09-30 09142480 core:WithinOneYear 2023-09-30 09142480 core:WithinOneYear 2022-09-30 09142480 core:AfterOneYear 2023-09-30 09142480 core:AfterOneYear 2022-09-30 09142480 core:ShareCapital 2023-09-30 09142480 core:ShareCapital 2022-09-30 09142480 core:RetainedEarningsAccumulatedLosses 2023-09-30 09142480 core:RetainedEarningsAccumulatedLosses 2022-09-30 09142480 bus:Director2 2022-10-01 2023-09-30 09142480 bus:SmallEntities 2022-10-01 2023-09-30 09142480 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 09142480 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 09142480 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 09142480 bus:FullAccounts 2022-10-01 2023-09-30 09142480 core:OfficeEquipment 2022-09-30 09142480 core:OfficeEquipment 2022-10-01 2023-09-30 09142480 core:OfficeEquipment 2023-09-30
COMPANY REGISTRATION NUMBER: 09142480
BARAZ FINANCIAL SERVICES LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 September 2023
BARAZ FINANCIAL SERVICES LIMITED
STATEMENT OF FINANCIAL POSITION
30 September 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Tangible assets
6
3,254
889
CURRENT ASSETS
Debtors
7
52,801
10,749
Cash at bank and in hand
299,367
337,089
---------
---------
352,168
347,838
CREDITORS: amounts falling due within one year
8
39,080
32,221
---------
---------
NET CURRENT ASSETS
313,088
315,617
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
316,342
316,506
CREDITORS: amounts falling due after more than one year
9
35,183
39,981
---------
---------
NET ASSETS
281,159
276,525
---------
---------
CAPITAL AND RESERVES
Called up share capital fully paid
20
20
Profit and loss account
281,139
276,505
---------
---------
SHAREHOLDERS FUNDS
281,159
276,525
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
BARAZ FINANCIAL SERVICES LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 September 2023
These financial statements were approved by the board of directors and authorised for issue on 26 July 2024 , and are signed on behalf of the board by:
Mr A Ali Director
Company registration number: 09142480
BARAZ FINANCIAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 SEPTEMBER 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Headlands House, 1 Kings Court, Kettering Parkway, Kettering, Northamptonshire, NN15 6WJ.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
33 1/3% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Office Equipment
-
33 1/3% straight line
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 3 (2022: 2 ).
5. INTANGIBLE ASSETS
Goodwill
£
Cost
At 1 October 2022 and 30 September 2023
50,000
--------
Amortisation
At 1 October 2022 and 30 September 2023
50,000
--------
Carrying amount
At 30 September 2023
--------
At 30 September 2022
--------
6. TANGIBLE ASSETS
Office Equipment
£
Cost
At 1 October 2022
9,544
Additions
4,726
--------
At 30 September 2023
14,270
--------
Depreciation
At 1 October 2022
8,655
Charge for the year
2,361
--------
At 30 September 2023
11,016
--------
Carrying amount
At 30 September 2023
3,254
--------
At 30 September 2022
889
--------
7. DEBTORS
2023
2022
£
£
Trade debtors
17,048
10,749
Other debtors
35,753
--------
--------
52,801
10,749
--------
--------
8. CREDITORS: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
4,798
5,452
Corporation tax
26,936
16,611
Social security and other taxes
5
144
Other creditors
7,341
10,014
--------
--------
39,080
32,221
--------
--------
9. CREDITORS: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
35,183
39,981
--------
--------