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Registration number: 08274521

N. Haque Partnership Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

N. Haque Partnership Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

N. Haque Partnership Limited

Company Information

Director

Nurul Haque

Registered office

Anglo House
Worcester Road
Stourport on Severn
DY13 9AW

Accountants

Perrigo Consultants Limited
Anglo House
Worcester Road
Stourport on Severn
DY13 9AW

 

N. Haque Partnership Limited

(Registration number: 08274521)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

3,899,309

2,264,821

Current assets

 

Debtors

6

25,199

6,034

Cash at bank and in hand

 

25,824

169,359

 

51,023

175,393

Creditors: Amounts falling due within one year

7

(372,677)

(343,253)

Net current liabilities

 

(321,654)

(167,860)

Total assets less current liabilities

 

3,577,655

2,096,961

Creditors: Amounts falling due after more than one year

7

(1,610,888)

(1,810,490)

Provisions for liabilities

(350,230)

(1,638)

Net assets

 

1,616,537

284,833

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

1,616,536

284,832

Shareholders' funds

 

1,616,537

284,833

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 25 October 2024
 

.........................................
Nurul Haque
Director

 

N. Haque Partnership Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

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

The address of its registered office is:
Anglo House
Worcester Road
Stourport on Severn
DY13 9AW

These financial statements were authorised for issue by the director on 25 October 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 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 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.

Going concern

The financial statements have been prepared on a going concern basis.

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 and deferred 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.

 

N. Haque Partnership Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

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

Freehold Property

0.5% Straight Line

Fixtures & Fittings

15% Reducing balance

Investment property

All buildings held within Freehold Property are included in the accounts at cost or where there is a material difference between cost and current valuation at the current valuation. Profits and losses arising from revaluation are included in the company's profit and loss for the year when the building is revalued.

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.

 

N. Haque Partnership Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

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.

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.

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 the director) during the year, was 1 (2022 - 1).

4

Taxation

Tax charged/(credited) in the profit and loss account

2023
£

2022
£

Current taxation

UK corporation tax

13,039

36,545

Deferred taxation

Arising from reclassification from equity to profit or loss

348,592

(96,558)

Tax expense/(receipt) in the income statement

361,631

(60,013)

Deferred tax

 

N. Haque Partnership Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

5

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 November 2022

2,303,636

7,800

2,311,436

Revaluations

1,611,364

-

1,611,364

At 31 October 2023

3,915,000

7,800

3,922,800

Depreciation

At 1 November 2022

43,456

3,159

46,615

Charge for the year

19,636

696

20,332

Eliminated on disposal

(43,456)

-

(43,456)

At 31 October 2023

19,636

3,855

23,491

Carrying amount

At 31 October 2023

3,895,364

3,945

3,899,309

At 31 October 2022

2,260,180

4,641

2,264,821

Included within the net book value of land and buildings above is £3,895,364 (2022 - £2,260,180) in respect of freehold land and buildings.
 

6

Debtors

Current

2023
£

2022
£

Trade debtors

16,052

1,770

Other debtors

9,147

4,264

 

25,199

6,034

 

N. Haque Partnership Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

5,500

5,500

Taxation and social security

78,418

72,859

Accruals and deferred income

83,631

69,487

Other creditors

205,128

195,407

372,677

343,253

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

1,610,888

1,810,490

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £0.01 each

100

1

100

1

       

9

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

1,341,632

1,459,326

Other borrowings

269,256

351,164

1,610,888

1,810,490