General Information
Aazeen Properties Ltd is a private company, limited by shares, registered in England and Wales, registration number 14934488, registration address 5 Canon Court, Institute Street, Bolton, BL1 1PZ.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
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)
Going concern basis
The Financial Statements have been prepared on the going concern basis which assumes that the company will continue its operations for the foreseeable future. Furthermore, the directors of the company have agreed to support the business and take all necessary actions to ensure that the company is able to meet its financial obligations and continue its operations.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
Investment properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
|
| 2. |
Average number of employees
Average number of employees during the year was 1 (2025 : 1).
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Investment properties |
|
Total |
| |
£ |
|
£ |
| At 01 July 2025 |
350,000 |
|
350,000 |
| Additions |
- |
|
- |
| Disposals |
- |
|
- |
| At 30 June 2026 |
350,000 |
|
350,000 |
| Depreciation |
| At 01 July 2025 |
- |
|
- |
| Charge for year |
- |
|
- |
| On disposals |
- |
|
- |
| At 30 June 2026 |
- |
|
- |
| Net book values |
| Closing balance as at 30 June 2026 |
350,000 |
|
350,000 |
| Opening balance as at 01 July 2025 |
350,000 |
|
350,000 |
| Fair Value |
|
2026
£ |
|
2025
£ |
| As at 30 June 2026 |
|
350,000 |
|
350,000 |
As at 30 June 2026, management has assessed the fair value of the property and determined that there has been no material change from its previously recorded valuation.
|
| 4. |
Debtors: amounts falling due within one year
|
2026
£ |
|
2025
£ |
| Called up Share Capital Not Paid |
100 |
|
100 |
| Prepayment |
6,000 |
|
- |
| Deposits Towards New Property Purchase |
68,083 |
|
- |
|
74,183 |
|
100 |
|
| 5. |
Creditors: amount falling due within one year
|
2026
£ |
|
2025
£ |
| Directors' Current Accounts |
82,527 |
|
82,095 |
|
82,527 |
|
82,095 |
|
| 6. |
Creditors: amount falling due after more than one year
|
2026
£ |
|
2025
£ |
| Mortgage |
254,925 |
|
254,925 |
|
254,925 |
|
254,925 |
|
| 7. |
Provisions for liabilities
|
2026
£ |
|
2025
£ |
| Deferred Tax |
30,892 |
|
22,958 |
|
30,892 |
|
22,958 |
|
| 8. |
Fair Value Reserves
|
2026
£ |
|
2025
£ |
| Fair Value Reserve |
111,929 |
|
120,883 |
|
111,929 |
|
120,883 |
|
5
|