Registered number
09683307
Bahar Money Transfer Ltd
Filleted Accounts
31 March 2024
Bahar Money Transfer Ltd
Registered number: 09683307
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 8,067 3,408
Current assets
Debtors 4 - 720
Cash at bank and in hand 61,217 81,248
61,217 81,968
Creditors: amounts falling due within one year 5 (10,729) (10,902)
Net current assets 50,488 71,066
Net assets 58,555 74,474
Capital and reserves
Called up share capital 1 1
Profit and loss account 58,554 74,473
Shareholder's funds 58,555 74,474
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.
Sherullah Qasim
Director
Approved by the board on 20 November 2024
Bahar Money Transfer Ltd
Notes to the Accounts
for the year ended 31 March 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).
Revenue
Revenue from services is valued at the amount received after deducting discounts and value-added taxes. The company only offers services, and revenue is recognized when the contract is completed. This is determined by comparing the actual cost of the work completed to the total estimated cost of the contract.
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:
Fixtures, fittings, tools and equipment 20% Straight Line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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
Current tax liabilities account for taxes on current and past taxable profits, while current tax assets arise from applicable tax losses. Deferred tax recognises timing differences in income and expenses between financial statements and tax assessments. Unutilised tax losses and deferred tax assets are acknowledged only if probable for recovery against future taxable profits. Deferred tax is measured using enacted or substantively enacted tax rates, except for revalued land and investment property. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 8 5
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 9,052
Additions 8,545
At 31 March 2024 17,597
Depreciation
At 1 April 2023 5,644
Charge for the year 3,886
At 31 March 2024 9,530
Net book value
At 31 March 2024 8,067
At 31 March 2023 3,408
4 Debtors 2024 2023
£ £
Other debtors - 720
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 4,788 5,755
Other creditors 5,941 5,147
10,729 10,902
6 Other information
Bahar Money Transfer Ltd is a private company limited by shares and incorporated in England. Its registered office is:
45 Station Road
Edgware
Middlesex
England
HA8 7HX
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