Registered number
SC134001
YOUSAF & CO LTD
Chartered Certified Accountants & Registered Auditors
298-300 Maxwell Road
Glasgow
Filleted Accounts
for the year ended 30 September 2024
YOUSAF & CO LTD
Registered number: SC134001
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 32,057 25,299
Investments 4 431,095 431,095
463,152 456,394
Current assets
Debtors 5 199,958 202,045
Cash at bank and in hand 772,270 703,873
972,228 905,918
Creditors: amounts falling due within one year 6 (59,659) (41,669)
Net current assets 912,569 864,249
Total assets less current liabilities 1,375,721 1,320,643
Creditors: amounts falling due after more than one year 7 (20,402) (17,706)
Net assets 1,355,319 1,302,937
Capital and reserves
Called up share capital 500 500
Profit and loss account 1,354,819 1,302,437
Shareholders' funds 1,355,319 1,302,937
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Muzaffar Hussain Yousaf
Director
Approved by the board on 26 June 2025
YOUSAF & CO LTD
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office Equipment & Fixtures 10% Reducing Balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 20 19
3 Tangible fixed assets
Office Equipment & Fixtures
£
Cost
At 1 October 2023 125,164
Additions 10,320
At 30 September 2024 135,484
Depreciation
At 1 October 2023 99,865
Charge for the year 3,562
At 30 September 2024 103,427
Net book value
At 30 September 2024 32,057
At 30 September 2023 25,299
4 Investments
Inc. legal fees Investments
£
1 Band Street, Glasgow 31,804
37 Albert Road, Glasgow 70,885
37 McCulloch Street, Glasgow 56,075
17 Marwick Street, Glasgow 28,338
296 Maxwell Road, Glasgow 138,234
188 Albert Drive, Glasgow 105,759
431,095
5 Debtors
£ £
Trade debtors 193,583 197,495
Loans recievable 6,375 4,550
199,958 202,045
6 Creditors: amounts falling due within one year 2024 2023
£ £
Credit Cards & Overdrawn bank 1,269 4,174
VAT 23,058 19,509
Taxation and social security costs 32,402 14,017
Other creditors 2,930 3,969
59,659 41,669
7 Creditors: amounts falling due after one year 2024 2023
£ £
Directors loan account 20,402 17,706
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