Registered number
10494696
Asyad Limited
Report and Financial Statements
30 November 2023
Asyad Limited
Registered number: 10494696
Directors' Report
The directors present their report and financial statements for the year ended 30 November 2023.
Principal activities
The company's principal activity during the period was that of developing, managing and selling properties.
Directors
The following persons served as directors during the period :
Mr Raoul Landu Kena
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 29 November 2024 and signed on its behalf.
Mr Raoul Landu Kena
Director
Asyad Limited
Profit and Loss Account
for the year ended 30 November 2023
2023 2022
£ £
Turnover 7,132,529 6,702,863
Cost of sales (5,792,064) (5,201,437)
Gross profit 1,340,465 1,501,426
Administrative expenses (897,523) (764,425)
Operating profit 442,942 737,001
Interest receivable 19 14
Interest payable (637) (525)
Profit on ordinary activities before taxation 442,324 736,490
Tax on profit on ordinary activities - 1,981
Profit for the financial period 442,324 738,471
Asyad Limited
Registered number: 10494696
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £ £ £
Fixed assets
Tangible assets 3 1,238,844 795,112
Current assets
Debtors 4 257,175 199,135
Cash at bank and in hand 104,529 89,652
361,704 288,787
Creditors: amounts falling due within one year 5 (185,119) (142,846)
Net current assets 176,585 145,941
Total assets less current liabilities 1,415,429 941,053
Creditors: amounts falling due after more than one year 6 (189,329) (157,277)
Net assets 1,226,100 783,776
Capital and reserves
Called up share capital 1 1
Profit and loss account 1,226,099 783,775
Shareholder's funds 1,226,100 783,776
The directors are 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 directors acknowledge their 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.
Mr Raoul Landu Kena
Director
Approved by the board on 29 November 2024
Asyad Limited
Notes to the Accounts
for the year ended 30 November 2023
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
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:
Plant and machinery 15% reducing balance basis
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
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 10 9
3 Tangible fixed assets
Plant and Machinery Total
£ £
Cost
At 1 December 2022 945,919 945,919
Additions 662,351 662,351
At 30 November 2023 1,608,270 1,608,270
Depreciation
At 1 December 2022 150,807 150,807
Charge for the year 218,619 218,619
At 30 November 2023 369,426 369,426
Net book value
At 30 November 2023 1,238,844 1,238,844
At 30 November 2022 795,112 795,112
4 Debtors 2023 2022
£ £
Trade debtors 248,659 195,865
Other debtors 8,516 3,270
257,175 199,135
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 151,740 114,865
Corporation tax - -
Other taxes and social security costs 23,564 19,885
Other creditors 9,815 8,096
185,119 142,846
6 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 189,329 157,277
189,329 157,277
7 Other information
Asyad Limited is a private company limited by shares and incorporated in England. Its registered office is:
6 Woodberry Down
London
N4 2TG
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