Registered number
SC526363
UAAZ LTD
434 Cathcart Road
Glasgow
Filleted Accounts
for the year ended 31 March 2024
Yousaf & Co Ltd
Chartered Certified Accountants
Registered Auditors
298-300 Maxwell Road
Glasgow
G41 1PJ
Ref: U048/TG
UAAZ LTD
Registered number : SC526363
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 13,217 12,474
Current assets
Debtors 4 57,205 71,150
Cash at bank and in hand 13,931 19,874
71,136 91,024
Creditors: amounts falling due within one year 5 (10,001) (6,931)
Net current assets 61,135 84,093
Total assets less current liabilities 74,352 96,567
Creditors: amounts falling due after more than one year 6 (71,611) (91,327)
Net assets 2,741 5,240
Capital and reserves
Called up share capital 100 100
Profit and loss account 2,641 5,140
Shareholders' funds 2,741 5,240
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 members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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.
Mrs Aneela Kalsoom
Director
Approved by the board on 16 July 2024
UAAZ 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).
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 rendering of services. 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:
Office equipment 10% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price).
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 3
3 Tangible fixed assets
Office Equipment
£
Cost
At 1 April 2023 19,280
Additions 2,212
At 31 March 2024 21,492
Depreciation
At 1 April 2023 6,806
Charge for the year 1,469
At 31 March 2024 8,275
Net book value
At 31 March 2024 13,217
At 31 March 2023 12,474
4 Debtors 2024 2023
£ £
Other debtors 629 -
Deposit Scotland 56,576 71,150
57,205 71,150
5 Creditors: amounts falling due within one year 2024 2023
£ £
Corporation tax 8,285 5,239
Other creditors 1,716 1,692
10,001 6,931
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank Loan 15,000 20,042
Directors loan account 35 135
Deposits from tenants 56,576 71,150
71,611 91,327
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