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Company Registration No. 06949169 (England and Wales)
Fahad Limited Unaudited accounts for the year ended 31 March 2024
Fahad Limited Unaudited accounts Contents
Page
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Fahad Limited Company Information for the year ended 31 March 2024
Directors
Mr Azeem Aslam Raja Mrs Farah Azeem Raja
Company Number
06949169 (England and Wales)
Registered Office
3 Admiral Close Weybridge Surrey KT13 9LD United Kingdom
Accountants
Virtue Accounting Limited 53 Warwick Street Coventry CV5 6ET
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Fahad Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investment property
450,000 
430,000 
Investments
18,774 
- 
468,774 
430,000 
Current assets
Debtors
10,500 
571 
Cash at bank and in hand
3,538 
21,667 
14,038 
22,238 
Creditors: amounts falling due within one year
(2,063)
(50)
Net current assets
11,975 
22,188 
Total assets less current liabilities
480,749 
452,188 
Creditors: amounts falling due after more than one year
(250,162)
(250,181)
Provisions for liabilities
Deferred tax
(31,494)
(27,694)
Net assets
199,093 
174,313 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
199,092 
174,312 
Shareholders' funds
199,093 
174,313 
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2024 and were signed on its behalf by
Mr Azeem Aslam Raja Director Company Registration No. 06949169
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Fahad Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Fahad Limited is a private company, limited by shares, registered in England and Wales, registration number 06949169. The registered office is 3 Admiral Close, Weybridge, Surrey, KT13 9LD, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% reducing balance
Computer equipment
33% straight line
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. Retained earnings include non-distributable reserves of £165,757 in respect of unrealised property gains.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Fahad Limited Notes to the Accounts for the year ended 31 March 2024
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 April 2023
435 
At 31 March 2024
435 
Depreciation
At 1 April 2023
435 
At 31 March 2024
435 
Net book value
At 31 March 2024
- 
5
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £0.50 each
1 
1 
6
Loans to directors
Movements on directors' loan accounts represent timing differences between amounts owed, and payments made, to directors in respect of expenses, remuneration and dividends. As at the end the year, there was £10k owed to the company by Mr A Raja. The loan has been repaid in full in early April 2024. No interest is charged on balances and no guarantees have been provided by either the company or the directors.
7
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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