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REGISTERED NUMBER: 06831674 (England and Wales)















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 58,603 70,323
Tangible assets 5 17,890 48,295
Investment property 6 215,000 227,000
291,493 345,618

CURRENT ASSETS
Debtors 7 463,275 512,784
Cash at bank 130,520 237,496
593,795 750,280
CREDITORS
Amounts falling due within one year 8 78,808 124,501
NET CURRENT ASSETS 514,987 625,779
TOTAL ASSETS LESS CURRENT
LIABILITIES

806,480

971,397

CREDITORS
Amounts falling due after more than one year 9 (13,333 ) (63,460 )

PROVISIONS FOR LIABILITIES (4,449 ) (6,252 )
NET ASSETS 788,698 901,685

CAPITAL AND RESERVES
Called up share capital 11 140 140
Fair value reserve 10,844 20,564
Retained earnings 777,714 880,981
SHAREHOLDERS' FUNDS 788,698 901,685

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 26th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 26th February 2024 in accordance with Section 476 of the Companies Act 2006.

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


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

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 25th November 2024 and were signed on its behalf by:





Dr M H A Malik - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06831674

Registered office: The Lexicon
Mount Street
Manchester
M2 5NT

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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
Franchise costs, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of twenty years.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 25% on cost
Motor vehicles - 20% on reducing balance

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 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Franchise
costs
£   
COST
At 27th February 2023
and 26th February 2024 234,410
AMORTISATION
At 27th February 2023 164,087
Amortisation for year 11,720
At 26th February 2024 175,807
NET BOOK VALUE
At 26th February 2024 58,603
At 26th February 2023 70,323

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 27,027 140,395 167,422
Additions 7,733 - 7,733
Disposals - (73,965 ) (73,965 )
At 26th February 2024 34,760 66,430 101,190
DEPRECIATION
At 27th February 2023 20,445 98,682 119,127
Charge for year 4,307 7,828 12,135
Eliminated on disposal - (47,962 ) (47,962 )
At 26th February 2024 24,752 58,548 83,300
NET BOOK VALUE
At 26th February 2024 10,008 7,882 17,890
At 26th February 2023 6,582 41,713 48,295

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 73,965
DEPRECIATION
At 27th February 2023
and 26th February 2024 32,360
NET BOOK VALUE
At 26th February 2024 41,605
At 26th February 2023 41,605

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 27th February 2023 227,000
Revaluations (12,000 )
At 26th February 2024 215,000
NET BOOK VALUE
At 26th February 2024 215,000
At 26th February 2023 227,000

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 191,584 305,312
S455 Recoverable 36,753 58,451
Other Debtors 13,000 18,000
Directors' current accounts 190,938 130,021
Prepayments and accrued income 31,000 1,000
463,275 512,784

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
26.2.24 26.2.23
as restated
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts - 7,694
Corporation tax 45,291 69,405
Social security and other taxes (956 ) 2,566
VAT 24,475 34,837
Accrued expenses (2 ) (1 )
78,808 124,501

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
26.2.24 26.2.23
as restated
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 3,333 13,333
Hire purchase contracts - 40,127
13,333 63,460

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 23,333 33,333
Hire purchase contracts - 47,821
23,333 81,154

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
£    £   
100 Ordinary A £1 100 100
40 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
£    £   
Dr M H A Malik and Mrs G A Malik
Balance outstanding at start of year 130,021 179,849
Amounts advanced 444,095 245,170
Amounts repaid (383,178 ) (294,998 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 190,938 130,021

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

The ultimate controlling party is Dr H Malik by virtue of holding 100% of the voting share capital.