Registered number
02843021
WARIS ENTERPRISES LIMITED
Filleted Accounts
31 August 2024
WARIS ENTERPRISES LIMITED
Registered number: 02843021
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 50,477 55,263
Tangible assets 4 126,294 134,342
176,771 189,605
Current assets
Stocks 2,595 3,905
Debtors 5 59,517 25,387
Cash at bank and in hand 13,693 13,119
75,805 42,411
Creditors: amounts falling due within one year 6 (48,196) (45,987)
Net current assets/(liabilities) 27,609 (3,576)
Total assets less current liabilities 204,380 186,029
Creditors: amounts falling due after more than one year 7 (14,579) (24,164)
Provisions for liabilities (4,976) (4,976)
Net assets 184,825 156,889
Capital and reserves
Called up share capital 2 2
Profit and loss account 184,823 156,887
Shareholders' funds 184,825 156,889
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Suheb Ahmed
Director
Approved by the board on 7 October 2024
WARIS ENTERPRISES LIMITED
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Goodwill over 15 years
Leasehold land and buildings 8.50% reducing balance
Motor Vehicle 15% reducing balance
Fixtures, fittings, tools and equipment 15% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 7 7
3 Intangible fixed assets £
Goodwill:
Cost
At 1 September 2023 71,803
At 31 August 2024 71,803
Amortisation
At 1 September 2023 16,540
Provided during the year 4,786
At 31 August 2024 21,326
Net book value
At 31 August 2024 50,477
At 31 August 2023 55,263
Goodwill is being written off in equal annual instalments over its estimated economic life of 15 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 September 2023 227,535 140,395 7,250 375,180
Additions - 10,400 - 10,400
Disposals - - (7,250) (7,250)
At 31 August 2024 227,535 150,795 - 378,330
Depreciation
At 1 September 2023 122,006 115,813 3,019 240,838
Charge for the year 8,970 5,247 - 14,217
On disposals - - (3,019) (3,019)
At 31 August 2024 130,976 121,060 - 252,036
Net book value
At 31 August 2024 96,559 29,735 - 126,294
At 31 August 2023 105,529 24,582 4,231 134,342
5 Debtors 2024 2023
£ £
Trade debtors 3,633 7,484
L&R Tech Solution Ltd 53,774 14,604
Other debtors 2,110 3,299
59,517 25,387
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,776 10,776
Trade creditors 214 3,399
Taxation and social security costs 21,887 18,824
Other creditors 15,319 12,988
48,196 45,987
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 14,579 24,164
8 Other information
WARIS ENTERPRISES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
17 Plumbers Row
Unit 4
Upper ground
London
E1 1EQ
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