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Registered number: 4556622
Alwan Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
ZA LTD
FMAAT AND FFA
Contents
Page
Accountants' Report 1
Balance Sheet 2—3
Statement of Changes in Equity 4
Notes to the Financial Statements 5—7
Page 1
Accountants' Report
Report of the Accountant to the director of Alwan Limited
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 31 December 2023.
We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.
On the Balance Sheet you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give “a true and fair view”.
You have determined that the company is exempt from the statutory requirement for an audit for this accounting year. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
Signed
ZA Ltd
20/09/2024
ZA LTD
FMAAT AND FFA
Page 1
Page 2
Balance Sheet
Registered number: 4556622
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 201,793 202,154
201,793 202,154
CURRENT ASSETS
Debtors 6 - 7,000
Cash at bank and in hand 20,697 24,118
20,697 31,118
Creditors: Amounts Falling Due Within One Year 7 (74,034 ) (86,185 )
NET CURRENT ASSETS (LIABILITIES) (53,337 ) (55,067 )
TOTAL ASSETS LESS CURRENT LIABILITIES 148,456 147,087
Creditors: Amounts Falling Due After More Than One Year 8 (67,491 ) (81,309 )
NET ASSETS 80,965 65,778
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 80,964 65,777
SHAREHOLDERS' FUNDS 80,965 65,778
Page 2
Page 3
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Mohammed Nabil Rida
Director
20/09/2024
The notes on pages 5 to 7 form part of these financial statements.
Page 3
Page 4
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 January 2022 1 54,867 54,868
Profit for the year and total comprehensive income - 21,310 21,310
Dividends paid - (10,400) (10,400)
As at 31 December 2022 and 1 January 2023 1 65,777 65,778
Profit for the year and total comprehensive income - 15,187 15,187
As at 31 December 2023 1 80,964 80,965
Page 4
Page 5
Notes to the Financial Statements
1. General Information
Alwan Limited is a private company, limited by shares, incorporated in England & Wales, registered number 4556622 . The registered office is 425 Kingsbury Road, Kingsbury, London, NW9 9DT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 17 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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:
Leasehold 25% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
Correction has been made to previous year on depreciation for MV.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 2 2
2 2
Page 5
Page 6
5. Tangible Assets
Land & Property
Leasehold Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 January 2023 225,000 26,719 127,778 379,497
As at 31 December 2023 225,000 26,719 127,778 379,497
Depreciation
As at 1 January 2023 31,710 26,719 118,914 177,343
Provided during the period - - 361 361
As at 31 December 2023 31,710 26,719 119,275 177,704
Net Book Value
As at 31 December 2023 193,290 - 8,503 201,793
As at 1 January 2023 193,290 - 8,864 202,154
6. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income - 7,000
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Corporation tax - 1
Other taxes and social security 1,369 3,739
Other creditors 40,411 41,420
Accruals and deferred income 10,096 11,025
Director's loan account 22,158 30,000
74,034 86,185
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 67,491 81,309
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
Page 6
Page 7
10. Dividends
2023 2022
£ £
On equity shares:
Final dividend paid - 10,400
Page 7