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Registration number: 09125045

Tawakkal Associates Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 July 2024

 

Tawakkal Associates Limited

Contents

Directors' Report

1

Accountants' Report

2

Abridged Balance Sheet

3

Notes to the Abridged Financial Statements

4 to 7

 

Tawakkal Associates Limited

Directors' Report for the Year Ended 31 July 2024

The directors present their report and the abridged financial statements for the year ended 31 July 2024.

Directors of the company

The directors who held office during the year were as follows:

Mrs Mehreen Ashfaq

Mr M Z Hasan

Principal activity

The principal activity of the company is Medical

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 11 September 2024 and signed on its behalf by:
 

.........................................
Mr M Z Hasan
Director

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Tawakkal Associates Limited
for the Year Ended 31 July 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Tawakkal Associates Limited for the year ended 31 July 2024 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Tawakkal Associates Limited, as a body, in accordance with the terms of our engagement letter dated 23 February 2015. Our work has been undertaken solely to prepare for your approval the accounts of Tawakkal Associates Limited and state those matters that we have agreed to state to the Board of Directors of Tawakkal Associates Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tawakkal Associates Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Tawakkal Associates Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Tawakkal Associates Limited. You consider that Tawakkal Associates Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Tawakkal Associates Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Abtax CA Limited
Certified Accountant
The Joiners Shop The Historic Dockyard
Main Gate Road
Chatham
Kent
ME4 4TZ

11 September 2024

 

Tawakkal Associates Limited

(Registration number: 09125045)
Abridged Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

167,481

78,703

Current assets

 

Debtors

5

20,103

6,775

Cash at bank and in hand

 

84,377

79,354

 

104,480

86,129

Creditors: Amounts falling due within one year

(79,034)

(54,094)

Net current assets

 

25,446

32,035

Total assets less current liabilities

 

192,927

110,738

Creditors: Amounts falling due after more than one year

(1,184)

(2,447)

Net assets

 

191,743

108,291

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

191,643

108,191

Shareholders' funds

 

191,743

108,291

For the financial year ending 31 July 2024 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 11 September 2024 and signed on its behalf by:
 

.........................................

Mr M Z Hasan

Director

 

Tawakkal Associates Limited

Notes to the Abridged Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Highbank
Billet Hill
Ash
Sevenoaks
TN15 7HG

These financial statements were authorised for issue by the Board on 11 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Tawakkal Associates Limited

Notes to the Abridged Financial Statements for the Year Ended 31 July 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

Straight Line Basis 25%

Plant & Machinery

Straight Line Basis 10%

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Tawakkal Associates Limited

Notes to the Abridged Financial Statements for the Year Ended 31 July 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 August 2023

75,500

8,540

2,480

86,520

Additions

90,000

380

-

90,380

At 31 July 2024

165,500

8,920

2,480

176,900

Depreciation

At 1 August 2023

-

7,130

687

7,817

Charge for the year

-

1,354

248

1,602

At 31 July 2024

-

8,484

935

9,419

Carrying amount

At 31 July 2024

165,500

436

1,545

167,481

At 31 July 2023

75,500

1,410

1,793

78,703

Included within the net book value of land and buildings above is £165,500 (2023 - £75,500) in respect of freehold land and buildings.
 

 

Tawakkal Associates Limited

Notes to the Abridged Financial Statements for the Year Ended 31 July 2024

5

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

ordinary share of £1 each

100

100

100

100