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AZAM & ASSOCIATES HEALTHCARE LTD

Registered Number
07205389
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

AZAM & ASSOCIATES HEALTHCARE LTD
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

Dr Wajid M Azam

Registered Address

32 Prescott Street
Halifax
HX1 2QW

Registered Number

07205389 (England and Wales)
AZAM & ASSOCIATES HEALTHCARE LTD
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets4210,251115,515
210,251115,515
Current assets
Stocks54,8964,814
Debtors6951,039706,897
Cash at bank and on hand620,608714,316
1,576,5431,426,027
Creditors amounts falling due within one year7(142,723)(152,662)
Net current assets (liabilities)1,433,8201,273,365
Total assets less current liabilities1,644,0711,388,880
Creditors amounts falling due after one year8(124,062)(56,928)
Provisions for liabilities10(38,920)(20,419)
Net assets1,481,0891,311,533
Capital and reserves
Called up share capital11
Profit and loss account1,481,0881,311,532
Shareholders' funds1,481,0891,311,533
The financial statements were approved and authorised for issue by the Director on 14 January 2025, and are signed on its behalf by:
Dr Wajid M Azam
Director
Registered Company No. 07205389
AZAM & ASSOCIATES HEALTHCARE LTD
Notes to the Financial Statements
for the year ended 31 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 compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.
Turnover policy
The revenue shown in the profit and loss account represents income receivable from dental treatments carried out during the period. Revenue in respect of dental treatment uncompleted at the yearend date is recognised by reference to the state of completion.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows: Goodwill - 10% straight line. The goodwill in the accounts is now fully amortised.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery20
Fixtures and fittings20
Vehicles20
Office Equipment20
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.Average number of employees

20242023
Average number of employees during the year1213
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 April 23700,000700,000
At 31 March 24700,000700,000
Amortisation and impairment
At 01 April 23700,000700,000
At 31 March 24700,000700,000
Net book value
At 31 March 24--
At 31 March 23--
4.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

££££££
Cost or valuation
At 01 April 2330,18596,29585,61212,8545,383230,329
Additions--139,905--139,905
At 31 March 2430,18596,295225,51712,8545,383370,234
Depreciation and impairment
At 01 April 23-84,50417,12210,7732,415114,814
Charge for year-2,35641,67954059445,169
At 31 March 24-86,86058,80111,3133,009159,983
Net book value
At 31 March 2430,1859,435166,7161,5412,374210,251
At 31 March 2330,18511,79168,4902,0812,968115,515
5.Stocks
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

2024

2023

££
Raw materials and consumables4,8964,814
Total4,8964,814
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables78,51968,378
Other debtors872,520638,519
Total951,039706,897
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables53,94268,786
Taxation and social security60,13269,290
Finance lease and HP contracts22,9349,123
Other creditors843923
Accrued liabilities and deferred income4,8724,540
Total142,723152,662
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
8.Creditors: amounts due after one year

2024

2023

££
Other creditors124,06256,928
Total124,06256,928
9.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts124,06256,928
10.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)38,92020,419
Total38,92020,419
11.Related party transactions
During the year the Director loaned the company £843 (2023: £923).Interest was charged on the loan balance throughout the year on a monthly basis at the UK market rate. The loan is repayable upon demand.