REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 26th February 2024 |
for |
Hammad Malik Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 26th February 2024 |
for |
Hammad Malik Ltd |
Hammad Malik Ltd (Registered number: 06831674) |
Contents of the Financial Statements |
for the Year Ended 26th February 2024 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
Hammad Malik Ltd (Registered number: 06831674) |
Balance Sheet |
26th February 2024 |
26.2.24 | 26.2.23 |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 9 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Fair value reserve |
Retained earnings | 880,981 |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Hammad Malik Ltd (Registered number: 06831674) |
Balance Sheet - continued |
26th February 2024 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Hammad Malik Ltd (Registered number: 06831674) |
Notes to the Financial Statements |
for the Year Ended 26th February 2024 |
1. | COMPANY INFORMATION |
Hammad Malik Ltd is a |
Registered number: |
Registered office: |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Revenue from the provision of professional services is recognised on delivery of the service. |
Goodwill |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Fixtures and fittings | - |
Motor vehicles | - |
Tangible Fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment loss. |
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the profit or loss. |
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 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. |
Hammad Malik Ltd (Registered number: 06831674) |
Notes to the Financial Statements - continued |
for the Year Ended 26th February 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Franchise |
costs |
£ |
COST |
At 27th February 2023 |
and 26th February 2024 |
AMORTISATION |
At 27th February 2023 |
Amortisation for year |
At 26th February 2024 |
NET BOOK VALUE |
At 26th February 2024 |
At 26th February 2023 |
Hammad Malik Ltd (Registered number: 06831674) |
Notes to the Financial Statements - continued |
for the Year Ended 26th February 2024 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
COST |
At 27th February 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 26th February 2024 |
DEPRECIATION |
At 27th February 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 26th February 2024 |
NET BOOK VALUE |
At 26th February 2024 |
At 26th February 2023 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
COST |
At 27th February 2023 |
and 26th February 2024 |
DEPRECIATION |
At 27th February 2023 |
and 26th February 2024 |
NET BOOK VALUE |
At 26th February 2024 |
At 26th February 2023 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 27th February 2023 |
Revaluations | (12,000 | ) |
At 26th February 2024 |
NET BOOK VALUE |
At 26th February 2024 |
At 26th February 2023 |
Hammad Malik Ltd (Registered number: 06831674) |
Notes to the Financial Statements - continued |
for the Year Ended 26th February 2024 |
6. | INVESTMENT PROPERTY - continued |
Fair value at 26th February 2024 is represented by: |
£ |
Valuation in 2019 | 230,000 |
Valuation in 2021 | (4,000 | ) |
Valuation in 2022 | (11,000 | ) |
Valuation in 2023 | 12,000 |
Valuation in 2024 | (12,000 | ) |
215,000 |
. |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
26.2.24 | 26.2.23 |
as restated |
£ | £ |
Trade debtors |
S455 Recoverable |
Other Debtors | 13,000 | 18,000 |
Directors' current accounts | 190,938 | 130,021 |
Prepayments and accrued income |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
26.2.24 | 26.2.23 |
as restated |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Corporation tax |
Social security and other taxes | ( |
) |
VAT | 24,475 | 34,837 |
Accrued expenses | ( |
) | ( |
) |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
26.2.24 | 26.2.23 |
as restated |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
Hire purchase contracts |
Hammad Malik Ltd (Registered number: 06831674) |
Notes to the Financial Statements - continued |
for the Year Ended 26th February 2024 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
26.2.24 | 26.2.23 |
as restated |
£ | £ |
Bank loans |
Hire purchase contracts | - | 47,821 |
The net obligations under finance leases and hire purchase contracts are secured against the assets to which they relate. |
The bank loan is secured by a guarantee from the Government under the Bounce Back Loan Scheme. |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 26.2.24 | 26.2.23 |
value: | as restated |
£ | £ |
Ordinary A | £1 | 100 | 100 |
Ordinary B | £1 | 40 | 40 |
140 | 140 |
The A Shares confer on the holders the right to vote upon any resolution proposed at any general meeting of the company. |
The B Shares do not confer on the holders the right to vote upon any resolution proposed at any general meeting of the company. |
The A and B Shares rank pari passu in respect of dividend and capital distribution rights. |
12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 26th February 2024 and 26th February 2023: |
26.2.24 | 26.2.23 |
as restated |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
The loan is repayable on demand and interest of £4,633.89 was charged at the official HMRC rate of 2.5% during the year. |
13. | CONTROL |