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Registered number: 14229387
El Castello Hajdari Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2024
Terra Finance Ltd
Castle Court
41 London Road
Reigate
Surrey
RH2 9RJ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 14229387
31 July 2024 31 July 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 19,801 22,276
Tangible Assets 5 147,797 151,157
167,598 173,433
CURRENT ASSETS
Stocks 6 12,750 7,351
Debtors 7 20,750 20,320
Cash at bank and in hand 35,000 29,790
68,500 57,461
Creditors: Amounts Falling Due Within One Year 8 (112,509 ) (161,016 )
NET CURRENT ASSETS (LIABILITIES) (44,009 ) (103,555 )
TOTAL ASSETS LESS CURRENT LIABILITIES 123,589 69,878
NET ASSETS 123,589 69,878
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 123,489 69,778
SHAREHOLDERS' FUNDS 123,589 69,878
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Page 2
For the 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.
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
Mrs Ganimete Hajdari
Director
Mr Jeton Hajdari
Director
Mr Lulzim Hajdari
Director
Mrs Sarah Hajdari
Director
15th August 2024
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
El Castello Hajdari Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14229387 . The registered office is 83 High Street, Odiham, Hook, Hampshire, RG29 1LB.
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. 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 10 years.
2.4. 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:
Freehold N/A
Plant & Machinery 25% Reducing blance
Fixtures & Fittings 25% Reducing balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. 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 years 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 assets reflect 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: 19 (2023: 21)
19 21
4. Intangible Assets
Goodwill
£
Cost
As at 1 August 2023 24,751
As at 31 July 2024 24,751
Amortisation
As at 1 August 2023 2,475
Provided during the period 2,475
As at 31 July 2024 4,950
Net Book Value
As at 31 July 2024 19,801
As at 1 August 2023 22,276
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5. Tangible Assets
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 August 2023 - 200,249 1,294 201,543
Additions 30,942 - 4,649 35,591
As at 31 July 2024 30,942 200,249 5,943 237,134
Depreciation
As at 1 August 2023 - 50,062 324 50,386
Provided during the period - 37,547 1,404 38,951
As at 31 July 2024 - 87,609 1,728 89,337
Net Book Value
As at 31 July 2024 30,942 112,640 4,215 147,797
As at 1 August 2023 - 150,187 970 151,157
6. Stocks
31 July 2024 31 July 2023
£ £
Stock 12,750 7,351
7. Debtors
31 July 2024 31 July 2023
£ £
Due within one year
Prepayments and accrued income 8,250 7,820
Other debtors 12,500 12,500
20,750 20,320
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8. Creditors: Amounts Falling Due Within One Year
31 July 2024 31 July 2023
£ £
Trade creditors 15,133 8,856
Bank loans and overdrafts 11,231 -
Corporation tax 20,124 -
Other taxes and social security 10,854 5,391
VAT 45,017 42,764
Other creditors 4,000 4,146
Accruals and deferred income 1,709 3,883
Directors' loan accounts 4,441 95,976
112,509 161,016
9. Share Capital
31 July 2024 31 July 2023
£ £
Allotted, Called up and fully paid 100 100
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