Registration number:
Shareka Burhaniyah Saifiyah UK LLP
for the Year Ended 31 March 2025
Shareka Burhaniyah Saifiyah UK LLP
Contents
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Members' Report |
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Financial Statements |
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Balance Sheet |
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Notes to the Financial Statements |
Shareka Burhaniyah Saifiyah UK LLP
Members' Report for the Year Ended 31 March 2025
The members present their report and the unaudited financial statements for the year ended 31 March 2025.
Principal activity
The principal activity of the limited liability partnership is buy and let property
Designated members
The members who held office during the year were as follows:
Approved by the
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Shareka Burhaniyah Saifiyah UK LLP
(Registration number: OC427728)
Balance Sheet as at 31 March 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Investment property |
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Current assets |
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Stocks |
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Debtors |
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Investments |
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Cash and short-term deposits |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Net assets attributable to members |
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Represented by: |
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Loans and other debts due to members |
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Members' capital classified as a liability |
996,350 |
918,850 |
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Members’ other interests |
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Other reserves |
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996,500 |
919,000 |
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Total members' interests |
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Loans and other debts due to members |
996,350 |
918,850 |
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Equity |
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996,500 |
919,000 |
For the year ending 31 March 2025 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.
These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime, as applied to limited liability partnerships. As permitted by section 444 (5A) of the Companies Act 2006, the members have not delivered to the registrar a copy of the Profit and Loss Account.
Shareka Burhaniyah Saifiyah UK LLP
(Registration number: OC427728)
Balance Sheet as at 31 March 2025
The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.
The financial statements of Shareka Burhaniyah Saifiyah UK LLP (registered number OC427728) were approved by the
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Shareka Burhaniyah Saifiyah UK LLP
Notes to the Financial Statements for the Year Ended 31 March 2025
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
General information and basis of accounting
The limited liability partnership is incorporated in England and Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page. The nature of the limited liability partnership’s operations and its principal activities are given in the members’ report.
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The functional currency of Shareka Burhaniyah Saifiyah UK LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies set out below.
Revenue recognition
Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.
The income from rents is accounted on a received basis.
Construction contracts
Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the balance sheet date. This is normally measured by the proportion that contract costs incurred for work performed to date bear to the estimated total contract costs, except where this would not be representative of the stage of completion. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.
Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred.
When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately.
Shareka Burhaniyah Saifiyah UK LLP
Notes to the Financial Statements for the Year Ended 31 March 2025
Members' remuneration and division of profits
The SORP recognises that the basis of calculating profits for allocation may differ from the profits reflected through the financial statements prepared in compliance with recommended practice, given the established need to seek to focus profit allocation on ensuring equity between different generations and populations of members.
Consolidation of the results of certain subsidiary undertakings, the provision for annuities to current and former members, pension scheme charges, the spreading of acquisition integration costs and the treatment of long leasehold interests are all items which may generate differences between profits calculated for the purpose of allocation and those reported within the financial statements. Where such differences arise, they have been included within other amounts in the balance sheet.
Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.
The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.
Taxation
The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.
other taxes policy
Tangible fixed assets
Tangible fixed assets costing £4,000 or above are capitalised and stated at cost less depreciation. All
assets costing less than £4,000 are expensed. Assets are reviewed for impairment if circumstances
indicate their carrying value may exceed their net realisable value and value in use.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over
their useful lives on the following bases:
Long leasehold property improvements 10 years
Fixtures, fittings & equipment 10 years
The gain or loss arising on the disposal of an asset is determined as the difference between the sale
proceeds and the carrying value of the asset, and is recognised in the statement of financial activities for
the year
Investment properties
Investment properties, which are property held to earn rentals and/or for capital appreciation, are measured using the fair value model and stated at the Member's estimate of their fair value as at the reporting date. The surplus or deficit on revaluation is recognised in the Statement of Financial Activities.
Current asset investments
Current asset investments are included at the lower of cost and net realisable value.
Shareka Burhaniyah Saifiyah UK LLP
Notes to the Financial Statements for the Year Ended 31 March 2025
Long term contracts
Revenue from long-term contracts is recognised by stage of completion. Stage of completion is measured by reference to costs incurred to date as a percentage of total estimated costs for each contract. Where the contract outcome cannot be measured reliably, revenue is measured only to the extent of the expenses recognised that are recoverable. Full provision is made for losses on all contracts in the year in which they are first foreseen.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the limited liability partnership will not be able to collect all amounts due according to the original terms of the receivables.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Members' interests
Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date.
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Particulars of employees |
The average number of persons employed by the limited liability partnership during the year was
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Investment property |
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2025 |
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At 1 April |
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The investment property is stated at the Members estimate of the fair value as at 31st March 2025. The members have based the fair value on the basis of purchase of the property.
There has been no valuation of investment property by an independent valuer.
Shareka Burhaniyah Saifiyah UK LLP
Notes to the Financial Statements for the Year Ended 31 March 2025
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Stocks |
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2025 |
2024 |
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Long term contract balances - Applicable payments on account |
276,150 |
150,150 |
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Debtors |
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2025 |
2024 |
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Other debtors |
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Prepayments and accrued income |
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- |
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Total current trade and other debtors |
213,753 |
160,160 |
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Current asset investments |
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2025 |
2024 |
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Other investments |
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Creditors: Amounts falling due within one year |
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2025 |
2024 |
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Other creditors |
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Accruals and deferred income |
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Creditors amounts falling due within one year includes the following liabilities, on which security has been given by the limited liability partnership:
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Creditors: Amounts falling due after more than one year |
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2025 |
2024 |
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Other creditors |
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Accruals and deferred income |
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Creditors amounts falling due after more than one year includes the following liabilities, on which security has been given by the limited liability partnership:
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2025 |
2024 |
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Dawat-e-Hadiyah Trust |
1,005,000 |
1,045,000 |