Registered number
05005780
A & K Zafiri Ltd
Filleted Accounts
31 January 2018
A & K Zafiri Ltd
Registered number: 05005780
Balance Sheet
as at 31 January 2018
Notes 2018 2017
£ £
Fixed assets
Intangible assets 2 121,980 121,980
Tangible assets 3 12,994 12,864
134,974 134,844
Current assets
Stocks 1,397 1,522
Debtors 4 351 1,148
Cash at bank and in hand 7,110 12,097
8,858 14,767
Creditors: amounts falling due within one year 5 (82,399) (87,320)
Net current liabilities (73,541) (72,553)
Net assets 61,433 62,291
Capital and reserves
Called up share capital 100 100
Profit and loss account 61,333 62,191
Shareholders' funds 61,433 62,291
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 A Zafiri
Director
Approved by the board on 4 October 2018
A & K Zafiri Ltd
Notes to the Accounts
for the year ended 31 January 2018
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 includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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:
Plant and machinery 10% Straight line
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. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
2 Intangible fixed assets £
Goodwill:
Cost
At 1 February 2017 121,980
At 31 January 2018 121,980
Amortisation
At 31 January 2018 -
Net book value
At 31 January 2018 121,980
At 31 January 2017 121,980
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 February 2017 9,811 31,986 41,797
Additions - 825 825
At 31 January 2018 9,811 32,811 42,622
Depreciation
At 1 February 2017 - 28,933 28,933
Charge for the year - 695 695
At 31 January 2018 - 29,628 29,628
Net book value
At 31 January 2018 9,811 3,183 12,994
At 31 January 2017 9,811 3,053 12,864
4 Debtors 2018 2017
£ £
Other debtors 351 1,148
5 Creditors: amounts falling due within one year 2018 2017
£ £
Trade creditors 1,099 -
Directors' account 65,927 65,248
Corporation tax 2,136 2,437
Other taxes and social security costs 8,363 8,312
Other creditors 4,874 11,323
82,399 87,320
6 Other information
A & K Zafiri Ltd is a private company limited by shares and incorporated in England. Its registered office is:
33 Franklin Way
Whetstone
Leicester
LE8 6QY
7 Going concern
The financial statements have been prepared on the basis that the company is a going concern and
that the directors will continue to support the company.
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