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Registered number: 12354241
HZ Design Solutions Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
James Khan
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12354241
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 6,568 8,210
Investment Properties 5 296,333 77,231
302,901 85,441
CURRENT ASSETS
Debtors 345,169 243,847
Cash at bank and in hand 105,795 206,586
450,964 450,433
Creditors: Amounts Falling Due Within One Year (371,027 ) (438,457 )
NET CURRENT ASSETS (LIABILITIES) 79,937 11,976
TOTAL ASSETS LESS CURRENT LIABILITIES 382,838 97,417
Creditors: Amounts Falling Due After More Than One Year (13,645 ) (23,843 )
NET ASSETS 369,193 73,574
CAPITAL AND RESERVES
Called up share capital 6 1 1
Profit and Loss Account 369,192 73,573
SHAREHOLDERS' FUNDS 369,193 73,574
Page 1
Page 2
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Hira Zia
Director
19/02/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
HZ Design Solutions Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12354241 . The registered office is 474 Cowbridge Road East, Cardiff, CF5 1BJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 20% reducing balance
Fixtures & Fittings 20% reducing balance
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2023: 6)
12 6
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4. Tangible Assets
Fixtures & Fittings
£
Cost or Valuation
As at 1 January 2024 12,580
As at 31 December 2024 12,580
Depreciation
As at 1 January 2024 4,370
Provided during the period 1,642
As at 31 December 2024 6,012
Net Book Value
As at 31 December 2024 6,568
As at 1 January 2024 8,210
5. Investment Property
2024
£
Fair Value
As at 1 January 2024 77,231
Additions 176,333
Revaluations 42,769
As at 31 December 2024 296,333
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 4