Registered number
03087149
DIWAN SOFTWARE LIMITED
Filleted Accounts
for the year ended 31 December 2024
DIWAN SOFTWARE LIMITED
Registered number: 03087149
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,279 1,706
Current assets
Debtors 4 339,501 339,425
Cash at bank and in hand 16,601 12,938
356,102 352,363
Creditors: amounts falling due within one year 5 (460,800) (460,831)
Net current liabilities (104,698) (108,468)
Total assets less current liabilities (103,419) (106,762)
Creditors: amounts falling due after more than one year 6 (1,500) (1,500)
Net liabilities (104,919) (108,262)
Capital and reserves
Called up share capital 620 620
Share premium 674,708 674,708
Profit and loss account (780,247) (783,590)
Shareholders' funds (104,919) (108,262)
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 her 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.
Miriam Al Saadi
Director
Approved by the board on 4 March 2025
DIWAN SOFTWARE LIMITED
Notes to the Accounts
for the year ended 31 December 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. 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.
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 over 4 years
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). 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.
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. 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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Going Concern
There was a net deficiency of assets of £104,919 at the balance sheet date. However, the director has confirmed continued support provided by loans from the director. They consider the company retains sufficient working capital to continue trading for the foreseeable future and continue to adopt the going concern basis in preparing the financial statements.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024 79,079
At 31 December 2024 79,079
Depreciation
At 1 January 2024 77,373
Charge for the year 427
At 31 December 2024 77,800
Net book value
At 31 December 2024 1,279
At 31 December 2023 1,706
4 Debtors 2024 2023
£ £
Other debtors 339,501 339,425
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 23 22
Other creditors 460,777 460,809
460,800 460,831
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 1,500 1,500
7 Loans 2024 2023
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 1,500 1,500
8 Related party transactions
2024 2023
Mr A. Allawi
Former Director and Shareholder.
Amount due to the related party 174,339 174,339
Ms M Al Saadi
Director
Amount due to the related party 283,984 283,984
Modular Software Limited
A company in which Mr Adil Allawi had controlling interest until February 2020 and in which Mrs Miriam Al Saadi is also a director.
Amount due from the related party 336,279 336,171
Dr Ahmed Kharrufa
Former Director
Amount due to the related party 1,500 1,500
9 Controlling party
During the period, the company was controlled by Miriam Al Saadi by virtue of her controlling shareholding in the company.
10 Other information
DIWAN SOFTWARE LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Crown House
27 Old Gloucester Street
London
England
WC1N 3AX
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