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REGISTERED NUMBER: 08123016 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

MIRZA LAW LIMITED

MIRZA LAW LIMITED (REGISTERED NUMBER: 08123016)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


MIRZA LAW LIMITED

COMPANY INFORMATION
for the Year Ended 31 January 2024







DIRECTORS: K Elahi
M S Elahi
Ms S Ahmad
J Fay





REGISTERED OFFICE: 216A Hoe Street
Walthamstow
London
E17 3AY





REGISTERED NUMBER: 08123016 (England and Wales)





ACCOUNTANTS: Accura Accountants Ltd
Langley House
Park Road
East Finchley
London
N2 8EY

MIRZA LAW LIMITED (REGISTERED NUMBER: 08123016)

STATEMENT OF FINANCIAL POSITION
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 14,467 12,687
14,467 12,687

CURRENT ASSETS
Stocks 8,000 8,500
Debtors 6 952,270 951,837
Cash at bank and in hand 11,843 61,188
972,113 1,021,525
CREDITORS
Amounts falling due within one year 7 271,944 293,656
NET CURRENT ASSETS 700,169 727,869
TOTAL ASSETS LESS CURRENT
LIABILITIES

714,636

740,556

CREDITORS
Amounts falling due after more than one
year

8

351,731

378,453
NET ASSETS 362,905 362,103

CAPITAL AND RESERVES
Called up share capital 340 340
Retained earnings 362,565 361,763
362,905 362,103

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MIRZA LAW LIMITED (REGISTERED NUMBER: 08123016)

STATEMENT OF FINANCIAL POSITION - continued
31 January 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 January 2025 and were signed on its behalf by:





K Elahi - Director


MIRZA LAW LIMITED (REGISTERED NUMBER: 08123016)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Mirza Law Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover and work in progress
Turnover represents net invoices sales of services, excluding value added tax. Turnover is recognised once the service has been provided.

Under FRS 102 Section 1A, revenue is required to be recognised from the provision of services on the completion method where it can be measured reliably. Therefore the work in progress figure represents recoverable uninvoiced work that has been recognised within the profit and loss account.

Goodwill
Goodwill, being the amount paid in connection with a business in 2013, has been fully amortised over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


MIRZA LAW LIMITED (REGISTERED NUMBER: 08123016)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position 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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Impairment of assets
A review of indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversals at each reporting date.

Employee benefits


The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any material unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment or to provide termination benefits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 100,000
AMORTISATION
At 1 February 2023
and 31 January 2024 100,000
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

MIRZA LAW LIMITED (REGISTERED NUMBER: 08123016)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 45,069
Additions 5,513
At 31 January 2024 50,582
DEPRECIATION
At 1 February 2023 32,382
Charge for year 3,733
At 31 January 2024 36,115
NET BOOK VALUE
At 31 January 2024 14,467
At 31 January 2023 12,687

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Other debtors 952,270 951,837

Included in other debtors are prepayments of £1,950 (2023: £1,950).

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 14,545 14,545
Taxation and social security 194,759 266,669
Other creditors 62,640 12,442
271,944 293,656

Included in other creditors are accrued expenses of £43,090 (2023: £9,999).

Included in taxation and social security is an amount of £40,788 (2023: £40,788) due under the disguised remuneration settlement agreement for HMRC. There is also £331,294 (2023: £343,294), in creditors due in more than one year relating to the same settlement.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans 20,437 35,159
Other creditors 331,294 343,294
351,731 378,453

MIRZA LAW LIMITED (REGISTERED NUMBER: 08123016)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2024

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.1.24 31.1.23
£    £   
Within one year 1,045 10,000
Between one and five years - 1,045
1,045 11,045

10. SECURED DEBTS

There is a fixed charge over the assets of the company within an omnibus guarantee and set-off agreement between Khokhar Properties Limited (a company with common shareholders) and Lloyds Bank plc dated 21 January 2019.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

31.1.24 31.1.23
£    £   
M S Elahi
Balance outstanding at start of year 522,682 460,665
Amounts advanced 139,517 131,089
Amounts repaid (124,000 ) (69,072 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 538,199 522,682

Included within the amount advanced is interest of £10,325 (2023: £9,723) charged at the HMRC prescribed rate on the outstanding loan balance. The overdrawn loan balance is repayable on demand and personally guaranteed by the director.

12. POST BALANCE SHEET EVENTS

After the year end but before the Financial Statements were signed dividends of £62,000 were voted.