Registered number
09084742
Akhtarzi Bros Limited
Report and Accounts
31 May 2024
Akhtarzi Bros Limited
Registered number: 09084742
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 4,436 4,822
Current assets
Stocks 12,250 10,315
Cash at bank and in hand 89,305 82,293
101,555 92,608
Creditors: amounts falling due within one year 4 (71,634) (67,781)
Net current assets 29,921 24,827
Net assets 34,357 29,649
Capital and reserves
Called up share capital 100 100
Profit and loss account 34,257 29,549
Shareholder's funds 34,357 29,649
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Mr Izatullah Akhtarzi
Director
Approved by the board on 12 September 2024
Akhtarzi Bros Limited
Notes to the Accounts
for the year ended 31 May 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.
0
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:
Motor Vehicle 8% reducing balnace
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.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 2
3 Tangible fixed assets
Equipment Motor vehicles Total
£ £ £
Cost
At 1 June 2023 1,261 4,485 5,746
At 31 May 2024 1,261 4,485 5,746
Depreciation
At 1 June 2023 279 645 924
Charge for the year 79 307 386
At 31 May 2024 358 952 1,310
Net book value
At 31 May 2024 903 3,533 4,436
At 31 May 2023 982 3,840 4,822
4 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 12,425 19,290
Corporation tax 3,479 3,027
Hmrc Vat 3,048 2,782
Other creditors 52,682 42,682
71,634 67,781
5 Controlling party
Mr I Akhtarzi and Mr Mohammad Rafi Noori have controlling interest in the company by the virtue of their 50% each holding of the ordinary shares of the company.
6 Other information
Akhtarzi Bros Limited is a private company limited by shares and incorporated in England. Its registered office is:
59-61 Blackburn Street
Manchester
M26 1NR
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