Company No:
Contents
Note | 31.03.2024 | |
£ | ||
Fixed assets | ||
Intangible assets | 3 |
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Tangible assets | 4 |
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581,491 | ||
Current assets | ||
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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218,218 | ||
Creditors: amounts falling due within one year | 6 | (
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Net current liabilities | (582,745) | |
Total assets less current liabilities | (1,254) | |
Net liabilities | (
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Capital and reserves | ||
Called-up share capital |
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Profit and loss account | (
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Total shareholders' deficit | (
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Directors' responsibilities:
The financial statements of Nowruz Enterprises Limited (registered number:
Dr Ardeshir Danesh
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.
Nowruz Enterprises Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Larking Gowen 1st Floor Prospect House, Rouen Road, Norwich, NR1 1RE, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
The company was incorporated on 15 September 2022 and commenced trading 1 November 2023. The trade has been transferred from Talat Khoshakhlaq & Co Limited from 1 November 2023. There are 5 months worth of trade for the pharmacy included within these accounts.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Income Statement in respect of pension costs and other post-retirement benefits is the contributions payable in the financial period. Differences between contributions payable in the financial period and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.
Finance costs are charged to the Income Statement over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Goodwill |
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Plant and machinery |
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Vehicles |
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Fixtures and fittings |
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Office equipment | 20 -
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
Period from 01.11.2023 to 31.03.2024 |
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Number | |
Monthly average number of persons employed by the Company during the period, including directors |
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Goodwill | Total | ||
£ | £ | ||
Cost | |||
At 01 November 2023 |
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At 31 March 2024 |
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Accumulated amortisation | |||
At 01 November 2023 |
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Charge for the financial period |
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At 31 March 2024 |
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Net book value | |||
At 31 March 2024 |
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Goodwill has arisen due to the transfer of the Aylsham pharmacy trade and assets into this company from Talat Khoshakhlaq & Co Limited.
Plant and machinery | Vehicles | Fixtures and fittings | Office equipment | Total | |||||
£ | £ | £ | £ | £ | |||||
Cost | |||||||||
At 01 November 2023 |
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Additions |
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Transfers |
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At 31 March 2024 |
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Accumulated depreciation | |||||||||
At 01 November 2023 |
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Charge for the financial period |
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Transfers |
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At 31 March 2024 |
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Net book value | |||||||||
At 31 March 2024 |
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31.03.2024 | |
£ | |
Trade debtors |
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Prepayments and accrued income |
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VAT recoverable |
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31.03.2024 | |
£ | |
Trade creditors |
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Amounts owed to connected companies |
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Amounts owed to directors |
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Accruals |
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Corporation tax |
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Deferred tax liability |
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31.03.2024 | |
£ | |
At the beginning of financial period |
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Charged to the Income Statement | (
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At the end of financial period | (
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The deferred taxation balance is made up as follows:
31.03.2024 | |
£ | |
Accelerated capital allowances | (
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Transactions with entities in which the entity itself has a participating interest
31.03.2024 | |
£ | |
Talat Khoshakhlaq & Co Limited | (653,759) |
The balance due to the above company at the year end, as included within creditors, amounted to £653,759.
Transactions with the entity's directors
31.03.2024 | |
£ | |
Director's loan account | (193) |
The balance due to the director at the year end is £193.