Acorah Software Products - Accounts Production 15.0.600 false true 31 October 2022 1 November 2021 false 1 November 2022 31 October 2023 31 October 2023 07825688 Mr Uzair Ismail Awan Mrs Uzma Uzair iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07825688 2022-10-31 07825688 2023-10-31 07825688 2022-11-01 2023-10-31 07825688 frs-core:CurrentFinancialInstruments 2023-10-31 07825688 frs-core:Non-currentFinancialInstruments 2023-10-31 07825688 frs-core:ComputerEquipment 2023-10-31 07825688 frs-core:ComputerEquipment 2022-11-01 2023-10-31 07825688 frs-core:ComputerEquipment 2022-10-31 07825688 frs-core:FurnitureFittings 2023-10-31 07825688 frs-core:FurnitureFittings 2022-11-01 2023-10-31 07825688 frs-core:FurnitureFittings 2022-10-31 07825688 frs-core:ShareCapital 2023-10-31 07825688 frs-core:RetainedEarningsAccumulatedLosses 2023-10-31 07825688 frs-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 07825688 frs-bus:FilletedAccounts 2022-11-01 2023-10-31 07825688 frs-bus:SmallEntities 2022-11-01 2023-10-31 07825688 frs-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 07825688 frs-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 07825688 frs-bus:Director1 2022-11-01 2023-10-31 07825688 frs-bus:Director2 2022-11-01 2023-10-31 07825688 frs-countries:EnglandWales 2022-11-01 2023-10-31 07825688 2021-10-31 07825688 2022-10-31 07825688 2021-11-01 2022-10-31 07825688 frs-core:CurrentFinancialInstruments 2022-10-31 07825688 frs-core:Non-currentFinancialInstruments 2022-10-31 07825688 frs-core:ShareCapital 2022-10-31 07825688 frs-core:RetainedEarningsAccumulatedLosses 2022-10-31
Registered number: 07825688
Awan Financial Services Limited
Unaudited Financial Statements
For The Year Ended 31 October 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 07825688
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,971 6,629
4,971 6,629
CURRENT ASSETS
Debtors 5 11,360 16,296
Cash at bank and in hand 594 1,567
11,954 17,863
Creditors: Amounts Falling Due Within One Year 6 - (1,166 )
NET CURRENT ASSETS (LIABILITIES) 11,954 16,697
TOTAL ASSETS LESS CURRENT LIABILITIES 16,925 23,326
Creditors: Amounts Falling Due After More Than One Year 7 (19,379 ) (23,105 )
NET (LIABILITIES)/ASSETS (2,454 ) 221
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (2,554 ) 121
SHAREHOLDERS' FUNDS (2,454) 221
Page 1
Page 2
For the year ending 31 October 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 Uzair Ismail Awan
Director
19 August 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
Awan Financial Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07825688 . The registered office is 15 Aquitania Close, Brooklands, Milton Keynes, MK10 7HT.
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. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% By Reducing Balance Method
Computer Equipment 25% By Reducing Balance Method
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: 4)
- 4
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 November 2022 790 19,303 20,093
As at 31 October 2023 790 19,303 20,093
...CONTINUED
Page 3
Page 4
Depreciation
As at 1 November 2022 432 13,032 13,464
Provided during the period 90 1,568 1,658
As at 31 October 2023 522 14,600 15,122
Net Book Value
As at 31 October 2023 268 4,703 4,971
As at 1 November 2022 358 6,271 6,629
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 2,173 6,423
Other debtors 9,187 9,873
11,360 16,296
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Other taxes and social security - 1,091
VAT - 75
- 1,166
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 19,379 23,105
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
Page 4