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SHAZ & ASSOCIATES LIMITED

Registered Number
07198252
(England and Wales)

Unaudited Financial Statements for the Period ended
30 March 2024

SHAZ & ASSOCIATES LIMITED
Company Information
for the period from 1 April 2023 to 30 March 2024

Director

NASEEM, Shahzad, Dr

Company Secretary

NASEEM, Ruby

Registered Address

2nd Floor Grove House
55 Lowlands Road
Harrow
HA1 3AW

Registered Number

07198252 (England and Wales)
SHAZ & ASSOCIATES LIMITED
Balance Sheet as at
30 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets3-39,934
Tangible assets4198,014252,888
198,014292,822
Current assets
Stocks523,00023,000
Debtors6209,926172,531
Cash at bank and on hand153,651182,404
386,577377,935
Creditors amounts falling due within one year7(275,557)(211,438)
Net current assets (liabilities)111,020166,497
Total assets less current liabilities309,034459,319
Creditors amounts falling due after one year8(123,326)(328,350)
Net assets185,708130,969
Capital and reserves
Called up share capital10,00010,000
Profit and loss account175,708120,969
Shareholders' funds185,708130,969
The financial statements were approved and authorised for issue by the Director on 19 January 2025, and are signed on its behalf by:
NASEEM, Shahzad, Dr
Director
Registered Company No. 07198252
SHAZ & ASSOCIATES LIMITED
Notes to the Financial Statements
for the period ended 30 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Goodwill
Goodwill arising on an acquisition of a business is carried at cost less accumulated impairment losses, if any. Goodwill is amortised over its expected useful life which is estimated to be fifteen years. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. No reversals of impairment are recognised.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Plant and machinery-5
Vehicles25-
Office Equipment25-
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year1918
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 April 231,198,0131,198,013
At 30 March 241,198,0131,198,013
Amortisation and impairment
At 01 April 231,158,0791,158,079
Charge for year39,93439,934
At 30 March 241,198,0131,198,013
Net book value
At 30 March 24--
At 31 March 2339,93439,934
4.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 April 23402,682104,71174,122581,515
At 30 March 24402,682104,71174,122581,515
Depreciation and impairment
At 01 April 23235,72041,71951,188328,627
Charge for year33,39215,7485,73454,874
At 30 March 24269,11257,46756,922383,501
Net book value
At 30 March 24133,57047,24417,200198,014
At 31 March 23166,96262,99222,934252,888
5.Stocks

2024

2023

££
Other stocks23,00023,000
Total23,00023,000
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables68,69663,918
Other debtors140,807107,268
Prepayments and accrued income4231,345
Total209,926172,531
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables28,69723,552
Bank borrowings and overdrafts117,602109,553
Taxation and social security96,33351,466
Other creditors31,95526,867
Accrued liabilities and deferred income970-
Total275,557211,438
8.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts31,223166,499
Other creditors92,103161,851
Total123,326328,350
9.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts92,103161,851
10.Directors advances, credits and guarantees
The debit balance of £17,787 (2023:£28,919) relates to director S Naseem.
11.Controlling party
The company was under the control of the director Mr S Naseem by virtue of his beneficial shareholding.