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Company No: 09470209 (England and Wales)

MR ZAFAR MAAN LIMITED

Unaudited Financial Statements
For the financial year ended 31 May 2024
Pages for filing with the registrar

MR ZAFAR MAAN LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2024

Contents

MR ZAFAR MAAN LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 May 2024
MR ZAFAR MAAN LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 May 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 690 810
Tangible assets 4 4,013 5,781
Investments 5 40,170 29,052
44,873 35,643
Current assets
Debtors 6 80,173 83,617
Cash at bank and in hand 20,160 4,636
100,333 88,253
Creditors: amounts falling due within one year 7 ( 30,737) ( 14,318)
Net current assets 69,596 73,935
Total assets less current liabilities 114,469 109,578
Net assets 114,469 109,578
Capital and reserves
Called-up share capital 100 100
Profit and loss account 114,369 109,478
Total shareholders' funds 114,469 109,578

For the financial year ending 31 May 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Mr Zafar Maan Limited (registered number: 09470209) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

Mr Z Maan
Director

26 February 2025

MR ZAFAR MAAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
MR ZAFAR MAAN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Mr Zafar Maan Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Oak House White Horse Road, East Bergholt, Colchester, CO7 6TR, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Website costs 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 4 years straight line
Office equipment 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Intangible assets

Website costs Total
£ £
Cost
At 01 June 2023 1,200 1,200
At 31 May 2024 1,200 1,200
Accumulated amortisation
At 01 June 2023 390 390
Charge for the financial year 120 120
At 31 May 2024 510 510
Net book value
At 31 May 2024 690 690
At 31 May 2023 810 810

4. Tangible assets

Fixtures and fittings Office equipment Total
£ £ £
Cost
At 01 June 2023 1,110 10,223 11,333
Additions 189 0 189
At 31 May 2024 1,299 10,223 11,522
Accumulated depreciation
At 01 June 2023 426 5,126 5,552
Charge for the financial year 297 1,660 1,957
At 31 May 2024 723 6,786 7,509
Net book value
At 31 May 2024 576 3,437 4,013
At 31 May 2023 684 5,097 5,781

5. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 June 2023 29,052 29,052
Profit share 149,743 149,743
Drawings (138,625) (138,625)
At 31 May 2024 40,170 40,170
Carrying value at 31 May 2024 40,170 40,170
Carrying value at 31 May 2023 29,052 29,052

6. Debtors

2024 2023
£ £
Amounts owed by Group undertakings 77,687 80,187
Amounts owed by directors 0 1,247
Prepayments 2,486 2,183
80,173 83,617

7. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to directors 532 0
Accruals 2,520 2,100
Corporation tax 27,338 12,218
Other taxation and social security 347 0
30,737 14,318

There are no amounts included above in respect of which any security has been given by the company.

8. Related party transactions

At the balance sheet date, the company was owed £77,687 (2023: £80,187) from a related party.
At the balance sheet date, the company owed the director's £532 ( in 2023 the director's owed the company: £1,247) in respect of the director's loan accounts.