Mofaz UK Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 05131802 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

MOFAZ UK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mohamed F Mohamed Fauzy

Mrs Adelita AI Shah

REGISTERED OFFICE:

190 Sussex Gardens

London

United Kingdom,

Northamptonshire

W2 1TU

REGISTERED NUMBER:

05131802 (England and Wales)

ACCOUNTANTS:

Prestons

Chartered Accountants

364-368 Cranbrook Road

Gants Hill

Ilford

Essex

IG2 6HY

FIXED ASSETS

Tangible assets

4

-

Investment property

5

1,100,000

CURRENT ASSETS

Debtors

6

109,833

-

Cash at bank and in hand

3,650

3,727

113,483

3,727

CREDITORS

Amounts falling due within one year

7

2,701,050

2,586,999

NET CURRENT LIABILITIES

(2,587,567

)

(2,583,272

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,487,567

)

(1,483,272

)

CREDITORS

Amounts falling due after more than one
year

8

(394,968

)

(410,035

)

PROVISIONS FOR LIABILITIES

(72,500

)

(72,500

)

NET LIABILITIES

(1,955,035

)

(1,965,807

)

CAPITAL AND RESERVES

Called up share capital

1,000

Fair value reserve

9

289,998

Retained earnings

(2,246,033

)

(2,256,805

)

(1,955,035

)

(1,965,807

)

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

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

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 30 September 2025 and were signed on its behalf by:

Mohamed F Mohamed Fauzy - Director

1.	STATUTORY INFORMATION

Mofaz UK 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.

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.

Operating lease

Rentals paid under operating leases are charged tb profit or loss on a straightline basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight

line basis over the lease term, unless another systematic basis is representative of the time pattern of

the lessee's benefit from the use of the leased asset.

Turnover

Rent is accounted for on a receivable basis..

Tangible fixed assets

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the costs of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Plant and Machinery - 10% Straight Line

The asset's residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit and loss.

Investment property

Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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.

Going concern

The total current liabilities exceeds the total current assets of the company as at 31th Dec. 2024. The director has confirmed that the company will have continuous support from the creditors. It is on this basis Accounts have been prepared on the going concern basis.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

and 31 December 2024

814,811

DEPRECIATION

At 1 January 2024

and 31 December 2024

814,811

NET BOOK VALUE

At 31 December 2024

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

1,100,000

NET BOOK VALUE

At 31 December 2024

1,100,000

At 31 December 2023

1,100,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

59,000

-

Other debtors

50,833

-

109,833

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Bank loans and overdrafts

53,048

46,793

Trade creditors

59,420

181

Other creditors

2,588,582

2,540,025

2,701,050

2,586,999

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the suture payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less and impairment.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

31.12.24

31.12.23

£

Bank loans

394,968

410,035

9.

RESERVES

Fair

value

reserve

£

At 1 January 2024

and 31 December 2024

289,998

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

Mohamed F Mohamed Fauzy

Balance outstanding at start of year

(2,306,042

)

(2,296,896

)

Amounts advanced

44,813

-

Amounts repaid

-

(9,146

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

(2,261,229

)

(2,306,042

)

11.	LEGAL CHARGE

A legal fixed charge was created on 29 January 2010 by NatWest Bank Plc on the company's investment property and other assets.