Company registration number 10579094 (England and Wales)
AWAL DEVELOPMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
AWAL DEVELOPMENTS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
AWAL DEVELOPMENTS LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
3
477,100
834,983
Cash at bank and in hand
2,439
2,439
479,539
837,422
Creditors: amounts falling due within one year
4
(615,159)
(981,407)
Net current liabilities
(135,620)
(143,985)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(135,720)
(144,085)
Total equity
(135,620)
(143,985)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 8 November 2024 and are signed on its behalf by:
M Haji
Director
Company registration number 10579094 (England and Wales)
AWAL DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 2 -
1
Accounting policies
Company information

Awal Developments Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 6, 2-20 Scrutton Street, London, United Kingdom, EC2A 4RJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax

Current or deferred taxation assets and liabilities are not discounted.

 

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

AWAL DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 3 -
Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

 

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

 

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.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
2
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
477,100
834,983
4
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
74,396
406,336
Taxation and social security
389,185
443,453
Other creditors
151,578
131,618
615,159
981,407
5
Related party transactions

At the balance sheet date, the company owed £477,100 (2023: £834,983) to AWAL Investment Limited, a company under common control.

2024-01-312023-02-01falsefalsefalse06 November 2024CCH SoftwareCCH Accounts Production 2024.310No description of principal activityM HajiA Abdulkarim105790942023-02-012024-01-31105790942024-01-31105790942023-01-3110579094core:CurrentFinancialInstrumentscore:WithinOneYear2024-01-3110579094core:CurrentFinancialInstrumentscore:WithinOneYear2023-01-3110579094core:CurrentFinancialInstruments2024-01-3110579094core:CurrentFinancialInstruments2023-01-3110579094core:ShareCapital2024-01-3110579094core:ShareCapital2023-01-3110579094core:RetainedEarningsAccumulatedLosses2024-01-3110579094core:RetainedEarningsAccumulatedLosses2023-01-3110579094bus:Director12023-02-012024-01-31105790942022-02-012023-01-3110579094core:WithinOneYear2024-01-3110579094core:WithinOneYear2023-01-3110579094bus:PrivateLimitedCompanyLtd2023-02-012024-01-3110579094bus:SmallCompaniesRegimeForAccounts2023-02-012024-01-3110579094bus:FRS1022023-02-012024-01-3110579094bus:AuditExemptWithAccountantsReport2023-02-012024-01-3110579094bus:Director22023-02-012024-01-3110579094bus:FullAccounts2023-02-012024-01-31xbrli:purexbrli:sharesiso4217:GBP