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Company Registration No. 14402124 (England and Wales)
Markaz Finance Ltd Unaudited accounts for the year ended 31 October 2024
Markaz Finance Ltd Unaudited accounts Contents
Page
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Markaz Finance Ltd Statement of financial position as at 31 October 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
21,432 
26,790 
Current assets
Debtors
- 
1,730 
Cash at bank and in hand
6,063 
8,320 
6,063 
10,050 
Creditors: amounts falling due within one year
(11,140)
(11,306)
Net current liabilities
(5,077)
(1,256)
Net assets
16,355 
25,534 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
16,255 
25,434 
Shareholders' funds
16,355 
25,534 
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 7 February 2025 and were signed on its behalf by
Mark Hulin Director Company Registration No. 14402124
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Markaz Finance Ltd Notes to the Accounts for the year ended 31 October 2024
1
Statutory information
Markaz Finance Ltd is a private company, limited by shares, registered in England and Wales, registration number 14402124. The registered office is 5 Moorhouse Drive, Birkenshaw, Bradford, West Yorkshire, BD11 2BB, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% Reducing Balance
4
Tangible fixed assets
Motor vehicles 
£ 
Cost or valuation
At cost 
At 1 November 2023
33,487 
At 31 October 2024
33,487 
Depreciation
At 1 November 2023
6,697 
Charge for the year
5,358 
At 31 October 2024
12,055 
Net book value
At 31 October 2024
21,432 
At 31 October 2023
26,790 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
- 
1,730 
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Markaz Finance Ltd Notes to the Accounts for the year ended 31 October 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
1,872 
2,047 
Taxes and social security
2,700 
8,059 
Other creditors
5,368 
- 
Accruals
1,200 
1,200 
11,140 
11,306 
7
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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