Baraz Financial Services Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 09142480

BARAZ FINANCIAL SERVICES LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

30 September 2024

BARAZ FINANCIAL SERVICES LIMITED

STATEMENT OF FINANCIAL POSITION

30 September 2024

	2024		2023
Note	£	£	£	£

FIXED ASSETS

Tangible assets	6	1,678	3,254
Investments	7	323,920	–
		---------	-------
		325,598	3,254

CURRENT ASSETS

Debtors	8	12,041	52,801
Cash at bank and in hand		7,183	299,367
		--------	---------
		19,224	352,168

CREDITORS: amounts falling due within one year	9	32,155		39,080
		--------		---------
NET CURRENT (LIABILITIES)/ASSETS			( 12,931)		313,088
			---------		---------
TOTAL ASSETS LESS CURRENT LIABILITIES			312,667		316,342

CREDITORS: amounts falling due after more than one year	10	30,385	35,183
		---------	---------
NET ASSETS		282,282	281,159
		---------	---------

CAPITAL AND RESERVES

Called up share capital fully paid	20	20
Profit and loss account	282,262	281,139
	---------	---------
SHAREHOLDERS FUNDS	282,282	281,159
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

BARAZ FINANCIAL SERVICES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

30 September 2024

These financial statements were approved by the board of directors and authorised for issue on 29 September 2025 , and are signed on behalf of the board by:

Mr A Ali Director

Company registration number: 09142480

BARAZ FINANCIAL SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 SEPTEMBER 2024

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Headlands House, 1 Kings Court, Kettering Parkway, Kettering, Northamptonshire, NN15 6WJ.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	33 1/3% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Office Equipment	-	33 1/3% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 2 (2023: 3 ).

5. INTANGIBLE ASSETS

	Goodwill
	£
Cost
At 1 October 2023 and 30 September 2024	50,000
	--------
Amortisation
At 1 October 2023 and 30 September 2024	50,000
	--------
Carrying amount
At 30 September 2024	–
	--------
At 30 September 2023	–
	--------

6. TANGIBLE ASSETS

	Office Equipment
	£
Cost
At 1 October 2023 and 30 September 2024	14,270
	--------
Depreciation
At 1 October 2023	11,016
Charge for the year	1,576
	--------
At 30 September 2024	12,592
	--------
Carrying amount
At 30 September 2024	1,678
	--------
At 30 September 2023	3,254
	--------

7. INVESTMENTS

	Other investments other than loans
	£
Cost
At 1 October 2023	–
Additions	323,920
	---------
At 30 September 2024	323,920
	---------
Impairment
At 1 October 2023 and 30 September 2024	–
	---------

Carrying amount
At 30 September 2024	323,920
	---------
At 30 September 2023	–
	---------

8. DEBTORS

	2024	2023
	£	£
Trade debtors	12,041	17,048
Other debtors	–	35,753
	--------	--------
	12,041	52,801
	--------	--------

9. CREDITORS: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	4,143	4,798
Corporation tax	20,957	26,936
Social security and other taxes	–	5
Other creditors	7,055	7,341
	--------	--------
	32,155	39,080
	--------	--------

10. CREDITORS: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	30,385	35,183
	--------	--------