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REGISTERED NUMBER: 06518419 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

KHAN SOLICITORS LIMITED

KHAN SOLICITORS LIMITED (REGISTERED NUMBER: 06518419)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KHAN SOLICITORS LIMITED

COMPANY INFORMATION
For The Year Ended 31 March 2024







DIRECTORS: A Hasan
F Akhtar
S Ahmed





REGISTERED OFFICE: 24 Sunbridge Road
Bradford
BD1 2AA





REGISTERED NUMBER: 06518419 (England and Wales)





ACCOUNTANTS: Fortus Limited
3 Park Square East
Leeds
LS1 2NE

KHAN SOLICITORS LIMITED (REGISTERED NUMBER: 06518419)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 72,796 90,996
Tangible assets 5 344,002 387,237
416,798 478,233

CURRENT ASSETS
Stocks 70,000 70,000
Debtors 6 1,024,216 759,080
Cash at bank and in hand 225,304 84,144
1,319,520 913,224
CREDITORS
Amounts falling due within one year 7 331,065 192,978
NET CURRENT ASSETS 988,455 720,246
TOTAL ASSETS LESS CURRENT LIABILITIES 1,405,253 1,198,479

CREDITORS
Amounts falling due after more than
one year

8

(84,536

)

(106,666

)

PROVISIONS FOR LIABILITIES 10 (47,937 ) (54,106 )
NET ASSETS 1,272,780 1,037,707

CAPITAL AND RESERVES
Called up share capital 192 192
Capital redemption reserve 16 16
Retained earnings 1,272,572 1,037,499
SHAREHOLDERS' FUNDS 1,272,780 1,037,707

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

KHAN SOLICITORS LIMITED (REGISTERED NUMBER: 06518419)

BALANCE SHEET - continued
31 March 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 25 June 2025 and were signed on its behalf by:





A Hasan - Director


KHAN SOLICITORS LIMITED (REGISTERED NUMBER: 06518419)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2024


1. STATUTORY INFORMATION

Khan Solicitors Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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
Turnover 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 2008, is being amortised evenly over its estimated useful life of twenty 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.
Freehold property - 15% straight line
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 20% on reducing balance

Stocks
Stocks 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.


KHAN SOLICITORS LIMITED (REGISTERED NUMBER: 06518419)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 364,000
AMORTISATION
At 1 April 2023 273,004
Amortisation for year 18,200
At 31 March 2024 291,204
NET BOOK VALUE
At 31 March 2024 72,796
At 31 March 2023 90,996

KHAN SOLICITORS LIMITED (REGISTERED NUMBER: 06518419)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2024


5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023 259,611 183,870 140,520 584,001
Additions - 2,127 - 2,127
At 31 March 2024 259,611 185,997 140,520 586,128
DEPRECIATION
At 1 April 2023 37,970 155,866 2,928 196,764
Charge for year 5,193 5,039 35,130 45,362
At 31 March 2024 43,163 160,905 38,058 242,126
NET BOOK VALUE
At 31 March 2024 216,448 25,092 102,462 344,002
At 31 March 2023 221,641 28,004 137,592 387,237

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 348,102 276,245
Corporation tax debtor 100,583 52,545
Directors' current accounts 560,558 418,223
Prepayments 14,973 12,067
1,024,216 759,080

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Loan creditor 10,648 10,648
Hire purchase contracts 20,183 20,183
Trade creditors 4,638 1,796
Corporation tax 224,355 108,189
Social security and other taxes 3,992 3,992
VAT 36,049 17,670
Accrued expenses 31,200 30,500
331,065 192,978

The loan creditor represents a loan under HM Government Coronavirus Business Bounce Back Loan Scheme. The loan creditor carries an interest rate of 2.5% per annum and it is repayable in accordance with the rules of the scheme.

KHAN SOLICITORS LIMITED (REGISTERED NUMBER: 06518419)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Loan creditor 13,559 23,357
Hire purchase contracts 70,977 83,309
84,536 106,666

The loan creditor represents a loan under HM Government Coronavirus Business Bounce Back Loan Scheme. The loan creditor carries an interest rate of 2.5% per annum and it is repayable in accordance with the rules of the scheme.

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 91,160 103,492

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 47,937 54,106

Deferred
tax
£   
Balance at 1 April 2023 54,106
Credit to Income Statement during year (6,169 )
Balance at 31 March 2024 47,937

11. RELATED PARTY DISCLOSURES

During the year the company paid dividends to its directors amounting to £76,000 (2023: £76,000).