Registered number
SC451019
New Hafiz Enterprises Ltd
567 Cathcard Road
Glasgow, Scotland
Filleted Accounts
for the year ended 31 May 2024
Yousaf & Co Ltd
Chartered Certified Accountants
298-300 Maxwell Road
Glasgow
Scotland
G41 1PJ
N151/TG
New Hafiz Enterprises Ltd
Registered number: SC451019
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,046 1,162
Current assets
Stocks 16,563 15,571
Cash at bank and in hand 7,675 9,681
24,238 25,252
Creditors: amounts falling due within one year 4 (420) (598)
Net current assets 23,818 24,654
Total assets less current liabilities 24,864 25,816
Creditors: amounts falling due after more than one year 5 (10,280) (10,280)
Net assets 14,584 15,536
Capital and reserves
Called up share capital 100 100
Profit and loss account 14,484 15,436
Shareholders' funds 14,584 15,536
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Nafees Ahmed
Director
Approved by the board on 25 February 2025
New Hafiz Enterprises Ltd
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
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).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 10% reducing balances
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Fixtures & Fittings
£
Cost
At 1 June 2023 2,332
At 31 May 2024 2,332
Depreciation
At 1 June 2023 1,170
Charge for the year 116
At 31 May 2024 1,286
Net book value
At 31 May 2024 1,046
At 31 May 2023 1,162
4 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs - 467
Other creditors 420 131
420 598
5 Creditors: amounts falling due after one year 2024 2023
£ £
Director's loan account 10,280 10,280
New Hafiz Enterprises Ltd SC451019 false 2023-06-01 2024-05-31 2024-05-31 VT Final Accounts July 2024 Mr Nafees Ahmed No description of principal activity SC451019 2022-06-01 2023-05-31 SC451019 core:WithinOneYear 2023-05-31 SC451019 core:AfterOneYear 2023-05-31 SC451019 core:ShareCapital 2023-05-31 SC451019 core:RetainedEarningsAccumulatedLosses 2023-05-31 SC451019 2023-06-01 2024-05-31 SC451019 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 SC451019 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 SC451019 bus:Director40 2023-06-01 2024-05-31 SC451019 1 2023-06-01 2024-05-31 SC451019 2 2023-06-01 2024-05-31 SC451019 core:PlantMachinery 2023-06-01 2024-05-31 SC451019 bus:FRS102 2023-06-01 2024-05-31 SC451019 bus:FilletedAccounts 2023-06-01 2024-05-31 SC451019 2024-05-31 SC451019 core:WithinOneYear 2024-05-31 SC451019 core:AfterOneYear 2024-05-31 SC451019 core:ShareCapital 2024-05-31 SC451019 core:RetainedEarningsAccumulatedLosses 2024-05-31 SC451019 core:PlantMachinery 2024-05-31 SC451019 2023-05-31 SC451019 core:PlantMachinery 2023-05-31 iso4217:GBP xbrli:pure