2023-09-012024-08-312024-08-31false14316507ALHAJI PROPERTIES 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ALHAJI PROPERTIES LTD

Registered Number
14316507
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2024

ALHAJI PROPERTIES LTD
Company Information
for the year from 1 September 2023 to 31 August 2024

Director

DANTSOHO, Aliyu

Company Secretary

DANTSOHO, Aliyu

Registered Address

Unit 15 Angerstien Business Park
Horn Lane
London
SE10 0RT

Registered Number

14316507 (England and Wales)
ALHAJI PROPERTIES LTD
Statement of Financial Position
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Investment property469,00069,000
69,00069,000
Current assets
Cash at bank and on hand5,0132,460
5,0132,460
Creditors amounts falling due within one year5(89,269)(95,994)
Net current assets (liabilities)(84,256)(93,534)
Total assets less current liabilities(15,256)(24,534)
Net assets(15,256)(24,534)
Capital and reserves
Called up share capital100100
Profit and loss account(15,356)(24,634)
Shareholders' funds(15,256)(24,534)
The financial statements were approved and authorised for issue by the Director on 8 February 2025, and are signed on its behalf by:
DANTSOHO, Aliyu
Director
Registered Company No. 14316507
ALHAJI PROPERTIES LTD
Notes to the Financial Statements
for the year ended 31 August 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.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
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 rentals and from the rendering of services.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
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.
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis. Investment properties, which comprises properties held for rental, are revalue annually and aggregate surplus or deficit transferred to the revaluation reserve except where any deficit is deemed permanent when it is taken to the profit and loss account. No provision is made for depreciation of investment properties. This is a departure from the requirement of the Regulations, which require all properties to be depreciated, is in the opinion of the Director, necessary for financial statement to show a true and fair view in accordance with applicable accounting standards. If this departure had not been made, the profit for the financial year would have been reduced by depreciation. However, the amount of depreciation cannot reasonably be quantified, because depreciation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.
2.Average number of employees

20242023
Average number of employees during the year00
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Investment property

£
Fair value at 01 September 2369,000
At 31 August 2469,000
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables1,7001,700
Bank borrowings and overdrafts86,81993,544
Accrued liabilities and deferred income750750
Total89,26995,994