Acorah Software Products - Accounts Production 16.2.850 true true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 09677426 Mr Khalid Rafiq Mr Ghulam Mustafa Mr Rizwan Khalid iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09677426 2023-06-30 09677426 2024-06-30 09677426 2023-07-01 2024-06-30 09677426 frs-core:CurrentFinancialInstruments 2024-06-30 09677426 frs-core:ComputerEquipment 2024-06-30 09677426 frs-core:ComputerEquipment 2023-07-01 2024-06-30 09677426 frs-core:ComputerEquipment 2023-06-30 09677426 frs-core:ShareCapital 2024-06-30 09677426 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 09677426 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 09677426 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 09677426 frs-bus:SmallEntities 2023-07-01 2024-06-30 09677426 frs-bus:EntityNoLongerTradingButTradedInPast 2023-07-01 2024-06-30 09677426 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 09677426 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 09677426 frs-bus:Director1 2023-07-01 2024-06-30 09677426 frs-bus:Director2 2023-07-01 2024-06-30 09677426 frs-bus:CompanySecretary1 2023-07-01 2024-06-30 09677426 frs-countries:EnglandWales 2023-07-01 2024-06-30 09677426 2022-06-30 09677426 2023-06-30 09677426 2022-07-01 2023-06-30 09677426 frs-core:CurrentFinancialInstruments 2023-06-30 09677426 frs-core:ShareCapital 2023-06-30 09677426 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 09677426
Rafiq Watch Company Ltd
Unaudited Financial Statements
For The Year Ended 30 June 2024
Alderton Accountancy Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 09677426
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 303 404
303 404
CURRENT ASSETS
Stocks 5 11,213 11,307
Debtors 6 21,332 342
Cash at bank and in hand 3,021 3,486
35,566 15,135
Creditors: Amounts Falling Due Within One Year 7 (92,451 ) (58,576 )
NET CURRENT ASSETS (LIABILITIES) (56,885 ) (43,441 )
TOTAL ASSETS LESS CURRENT LIABILITIES (56,582 ) (43,037 )
NET LIABILITIES (56,582 ) (43,037 )
CAPITAL AND RESERVES
Called up share capital 8 300 300
Profit and Loss Account (56,882 ) (43,337 )
SHAREHOLDERS' FUNDS (56,582) (43,037)
Page 1
Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Khalid Rafiq
Director
19/03/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Rafiq Watch Company Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09677426 . The registered office is 962 Eastern Avenue, Newbury Park, Ilford, Essex, IG2 7JD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 25% RBM
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 2)
3 2
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 July 2023 3,030
As at 30 June 2024 3,030
Depreciation
As at 1 July 2023 2,626
Provided during the period 101
As at 30 June 2024 2,727
Net Book Value
As at 30 June 2024 303
As at 1 July 2023 404
Page 3
Page 4
5. Stocks
2024 2023
£ £
Finished goods 11,213 11,307
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 342
Other debtors 21,332 -
21,332 342
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 92,108 58,055
Taxation and social security 343 521
92,451 58,576
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 300 300
Page 4