Registered number
10618639
INAYAT ALI ENTERPRISE LTD
Filleted Accounts
31 July 2024
INAYAT ALI ENTERPRISE LTD
Registered number: 10618639
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 87,600 102,200
Tangible assets 4 5,183 5,063
92,783 107,263
Current assets
Stocks 1,650 1,210
Debtors 5 3,926 2,627
Cash at bank and in hand 14,083 8,500
19,659 12,337
Creditors: amounts falling due within one year 6 (20,326) (12,471)
Net current liabilities (667) (134)
Total assets less current liabilities 92,116 107,129
Creditors: amounts falling due after more than one year 7 (56,540) (66,622)
Net assets 35,576 40,507
Capital and reserves
Called up share capital 100 100
Profit and loss account 35,476 40,407
Shareholders' funds 35,576 40,507
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.
SAJID INAYAT BHATTI
Director
Approved by the board on 23 August 2024
INAYAT ALI ENTERPRISE LTD
Notes to the Accounts
for the year ended 31 July 2024
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:
Plant and machinery over 10 years
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 10 10
3 Intangible fixed assets £
Goodwill:
Cost
At 1 August 2023 146,000
At 31 July 2024 146,000
Amortisation
At 1 August 2023 43,800
Provided during the year 14,600
At 31 July 2024 58,400
Net book value
At 31 July 2024 87,600
At 31 July 2023 102,200
4 Tangible fixed assets
Plant and machinery
£
Cost
At 1 August 2023 8,857
Additions 1,118
At 31 July 2024 9,975
Depreciation
At 1 August 2023 3,794
Charge for the year 998
At 31 July 2024 4,792
Net book value
At 31 July 2024 5,183
At 31 July 2023 5,063
5 Debtors 2024 2023
£ £
Trade debtors 3,926 2,627
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,873 4,424
Taxation and social security costs 2,115 4,509
Other creditors 16,338 3,538
20,326 12,471
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 30,475 39,757
Directors Loans 26,065 26,865
56,540 66,622
8 Other information
INAYAT ALI ENTERPRISE LTD is a private company limited by shares and incorporated in England. Its registered office is:
85 CONEYGREE ROAD
PETERBOROUGH
CAMBRIDGESHIRE
PE2 8LG
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