2024-01-012024-12-312024-12-31false05820837MAZHAR 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MAZHAR LTD

Registered Number
05820837
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

MAZHAR LTD
Company Information
for the year from 1 January 2024 to 31 December 2024

Director

Shahzada Saleem Mazhar

Company Secretary

KALEEM, Angela

Registered Address

16 South Shore Road
East Gateshead Ind Estate
Gateshead
NE8 3AE

Registered Number

05820837 (England and Wales)
MAZHAR LTD
Statement of Financial Position
31 December 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets328,52137,814
28,52137,814
Current assets
Stocks4457,601642,930
Debtors5393,597380,686
Cash at bank and on hand2,043,8021,678,321
2,895,0002,701,937
Creditors amounts falling due within one year6(142,589)(166,723)
Net current assets (liabilities)2,752,4112,535,214
Total assets less current liabilities2,780,9322,573,028
Provisions for liabilities7(7,130)(9,454)
Net assets2,773,8022,563,574
Capital and reserves
Called up share capital100100
Profit and loss account2,773,7022,563,474
Shareholders' funds2,773,8022,563,574
The financial statements were approved and authorised for issue by the Director on 11 February 2025, and are signed on its behalf by:
Shahzada Saleem Mazhar
Director
Registered Company No. 05820837
MAZHAR LTD
Notes to the Financial Statements
for the year ended 31 December 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.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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/or 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.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Fixtures and fittings15
Vehicles25
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). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20242023
Average number of employees during the year910
3.Tangible fixed assets

Vehicles

Fixtures & fittings

Total

£££
Cost or valuation
At 01 January 2491,4819,399100,880
At 31 December 2491,4819,399100,880
Depreciation and impairment
At 01 January 2455,2697,79763,066
Charge for year9,0532409,293
At 31 December 2464,3228,03772,359
Net book value
At 31 December 2427,1591,36228,521
At 31 December 2336,2121,60237,814
4.Stocks

2024

2023

££
Work in progress270,154425,280
Finished goods187,447217,650
Total457,601642,930
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables352,419357,265
Prepayments and accrued income41,17823,421
Total393,597380,686
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables-28,873
Taxation and social security111,316114,120
Other creditors22,27814,580
Accrued liabilities and deferred income8,9959,150
Total142,589166,723
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)7,1309,454
Total7,1309,454
8.Related party transactions
The company was under the control of the directors throughout the current and previous year. During the year the company paid commercial rents of £18,000 (2023: £18,000) on properties owned by the directors. Shown within Other creditors is an interest free loan of £11 due to the directors (2023: £11). No further transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard FRS102 (1A).