Company Registration No. 08674344 (England and Wales)
Nayyir Associates Limited
Unaudited accounts
for the year ended 30 September 2024
Nayyir Associates Limited
Unaudited accounts
Contents
Nayyir Associates Limited
Company Information
for the year ended 30 September 2024
Directors
Mr M K Durrani
Mr S Durrani
Company Number
08674344 (England and Wales)
Registered Office
C/O Accountancy Managers Ltd
164 New Cavendish Street
London
W1W 6YT
United Kingdom
Nayyir Associates Limited
Statement of financial position
as at 30 September 2024
Intangible assets
1,000
2,000
Tangible assets
22,022
28,183
Cash at bank and in hand
289,021
364,839
Creditors: amounts falling due within one year
(288,074)
(340,915)
Net current assets
75,204
58,466
Total assets less current liabilities
98,226
88,649
Creditors: amounts falling due after more than one year
(4,721)
(15,370)
Called up share capital
100
100
Profit and loss account
93,405
73,179
Shareholders' funds
93,505
73,279
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 18 April 2025 and were signed on its behalf by
Mr M K Durrani
Director
Company Registration No. 08674344
Nayyir Associates Limited
Notes to the Accounts
for the year ended 30 September 2024
Nayyir Associates Limited is a private company, limited by shares, registered in England and Wales, registration number 08674344. The registered office is C/O Accountancy Managers Ltd, 164 New Cavendish Street, London, W1W 6YT, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% on cost
Fixtures & fittings
10% on cost
Computer equipment
10% on cost
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Nayyir Associates Limited
Notes to the Accounts
for the year ended 30 September 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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Intangible fixed assets
Other
At 30 September 2024
10,000
At 30 September 2024
9,000
At 30 September 2024
1,000
At 30 September 2023
2,000
Nayyir Associates Limited
Notes to the Accounts
for the year ended 30 September 2024
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Tangible fixed assets
Land & buildings
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 October 2023
21,670
105,725
25,126
152,521
Additions
-
208
1,582
1,790
At 30 September 2024
21,670
105,933
26,708
154,311
At 1 October 2023
17,336
94,714
12,288
124,338
Charge for the year
2,167
1,974
3,810
7,951
At 30 September 2024
19,503
96,688
16,098
132,289
At 30 September 2024
2,167
9,245
10,610
22,022
At 30 September 2023
4,334
11,011
12,838
28,183
Amounts falling due within one year
Accrued income and prepayments
6,271
10,343
Other debtors
53,986
13,199
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Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
11,945
10,973
Trade creditors
14,966
26,612
Taxes and social security
10,189
23,507
Other creditors
86,513
76,724
Loans from directors
129,839
169,539
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Creditors: amounts falling due after more than one year
2024
2023
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
Nayyir Associates Limited
Notes to the Accounts
for the year ended 30 September 2024
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Transactions with related parties
During the year dividends of £500 (2023: £3,750) were distributed to Mr M K Durrani. In addition, a sum of £4,800 (2023: £36,000) was distributed to Mr S Durrani.
Included in other creditors due within one year are the amounts of £78,075 (2023: £77,575) and £51,764 (2023: £91,964) owed to Mr M K Durrani & Mr S Durrani respectively.
Mr Shahan Durrani is regarded as the ultimate controlling party for the period.
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Average number of employees
During the year the average number of employees was 14 (2023: 17).