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REGISTERED NUMBER: 14222996 (England and Wales)















Financial Statements for the Year Ended 31st July 2024

for

Buraaq Foods Ltd
Trading as
WATAN FOODS

Buraaq Foods Ltd (Registered number: 14222996)
Trading as WATAN FOODS

Contents of the Financial Statements
for the Year Ended 31st July 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Buraaq Foods Ltd
Trading as WATAN FOODS

Company Information
for the Year Ended 31st July 2024







DIRECTORS: M A Zeb
A Zeb





SECRETARY:





REGISTERED OFFICE: 46 Birchill street
Walsall
West Midlands
WS2 8NG





REGISTERED NUMBER: 14222996 (England and Wales)





ACCOUNTANT: A K & Co Accountants
732 Walsall Road
Great Barr
Birmingham
West Midlands
B42 1EX

Buraaq Foods Ltd (Registered number: 14222996)
Trading as WATAN FOODS

Balance Sheet
31st July 2024

31.7.24 31.7.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 290,000 -
Property, plant and equipment 5 105,921 -
395,921 -

CURRENT ASSETS
Inventories 6 6,742 -
Debtors 7 12,809 -
Cash at bank and in hand 13,606 300
33,157 300
CREDITORS
Amounts falling due within one year 8 18,544 -
NET CURRENT ASSETS 14,613 300
TOTAL ASSETS LESS CURRENT LIABILITIES 410,534 300

CREDITORS
Amounts falling due after more than one
year

9

396,311

-
NET ASSETS 14,223 300

CAPITAL AND RESERVES
Called up share capital 11 300 300
Retained earnings 12 13,923 -
SHAREHOLDERS' FUNDS 14,223 300

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Buraaq Foods Ltd (Registered number: 14222996)
Trading as WATAN FOODS

Balance Sheet - continued
31st July 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28th October 2024 and were signed on its behalf by:





A Zeb - Director


Buraaq Foods Ltd (Registered number: 14222996)
Trading as WATAN FOODS

Notes to the Financial Statements
for the Year Ended 31st July 2024


1. STATUTORY INFORMATION

Buraaq Foods Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Good will at 10% pa on a flat rates

Fixtures and fittings 15%pa on a reducing balance

Motor vehicle 25& pa on a reducing balance

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Buraaq Foods Ltd (Registered number: 14222996)
Trading as WATAN FOODS

Notes to the Financial Statements - continued
for the Year Ended 31st July 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - NIL ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 290,000
At 31st July 2024 290,000
NET BOOK VALUE
At 31st July 2024 290,000

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Long and Motor
leasehold fittings vehicles Totals
£    £    £    £   
COST
Additions 20,876 95,641 5,000 121,517
At 31st July 2024 20,876 95,641 5,000 121,517
DEPRECIATION
Charge for year - 14,346 1,250 15,596
At 31st July 2024 - 14,346 1,250 15,596
NET BOOK VALUE
At 31st July 2024 20,876 81,295 3,750 105,921

Buraaq Foods Ltd (Registered number: 14222996)
Trading as WATAN FOODS

Notes to the Financial Statements - continued
for the Year Ended 31st July 2024


6. INVENTORIES
31.7.24 31.7.23
£    £   
Stocks 6,742 -

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
VAT repayment due 12,809 -

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade creditors 15,516 -
Social security and other taxes 28 -
Accrued expenses 3,000 -
18,544 -

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.24 31.7.23
£    £   
Other loans (see note 10) 396,311 -

10. LOANS

An analysis of the maturity of loans is given below:

31.7.24 31.7.23
£    £   
Amounts falling due between two and five years:
Other loans - 2-5 years 228,913 -
Directors loan account 167,398 -
396,311 -

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
300 ordinary share capital £1 300 300

300 ordinary share capital shares of £1 each were allotted and fully paid for cash at par during the year.

Buraaq Foods Ltd (Registered number: 14222996)
Trading as WATAN FOODS

Notes to the Financial Statements - continued
for the Year Ended 31st July 2024


12. RESERVES
Retained
earnings
£   

Profit for the year 13,923
At 31st July 2024 13,923