Company registration number 07543505 (England and Wales)
PASHA LEGAL LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
PASHA LEGAL LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
PASHA LEGAL LTD
BALANCE SHEET
AS AT
29 FEBRUARY 2024
29 February 2024
- 1 -
29 February 2024
28 February 2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
119
179
Current assets
Debtors
4
356,296
75,063
Cash at bank and in hand
61,086
371,036
417,382
446,099
Creditors: amounts falling due within one year
5
(24,802)
(57,494)
Net current assets
392,580
388,605
Total assets less current liabilities
392,699
388,784
Provisions for liabilities
30
Net assets
392,729
388,784
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
392,727
388,782
Total equity
392,729
388,784
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 29 February 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 and signed by the director and authorised for issue on 28 November 2024
Mohammed Pasha
Director
Company registration number 07543505 (England and Wales)
PASHA LEGAL LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 2 -
1
Accounting policies
Company information
Pasha Legal Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Soho House, 362 - 364 Soho Road, Birmingham, West Midlands, UK, B21 9QL.
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.The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
20% on cost
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 profit or loss.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
PASHA LEGAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2023 and 29 February 2024
4,366
Depreciation and impairment
At 1 March 2023
4,187
Depreciation charged in the year
60
At 29 February 2024
4,247
Carrying amount
At 29 February 2024
119
At 28 February 2023
179
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
6,547
13,628
Other debtors
349,749
61,435
356,296
75,063
PASHA LEGAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 4 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
50,000
Trade creditors
1,048
1,035
Corporation tax
19,639
2,374
Other taxation and social security
3,882
3,852
Other creditors
233
233
24,802
57,494
6
Related party transactions
Transactions with related parties
As at 28 February 2024 the following balances, included in other debtors due within one year, were due from
related companies:
Properties Pasha Ltd: £150,000
The above balances are repayable on demand.
7
Directors' transactions
The following advances and credits to a director subsisted during the years ended 28 February 2023 and 28 February 2022:
Description
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Mohammed Pasha
-
198,631
(198,631)
-
-
198,631
(198,631)
-
The loan was unsecured, interest was charged at 2% and 2.25% per annum and repaid in full.
8
Ultimate Controlling Party
The controlling party is Mohammed Pasha.