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FIRNAS PRIVATE LIMITED - Company Information

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FIRNAS PRIVATE LIMITED

Registered Number:09035593

For the year ended 31 May 2019

England and Wales

Unaudited Financial Statements

For the year ended 31 May 2019

FIRNAS PRIVATE LIMITED

Contents Page

Statement of Financial Position

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Notes to the Financial Statements

Registered Number :

09035593

As at 31 May 2019

FIRNAS PRIVATE LIMITED

Statement of Financial Position

2018

2019

Notes

Fixed assets

Property, plant and equipment

4,178

4,915

4,178

4,915

Current assets

Trade and other receivables

29,129

35,307

Cash and cash equivalents

2,608

31,737

35,307

Trade and other payables: amounts falling due within one year

(1,350)

(22,666)

33,957

9,071

Net current assets

Total assets less current liabilities

13,249

38,872

Trade and other payables: amounts falling due after more than one

year

(596,777)

(225,134)

(211,885)

Net liabilities

(557,905)

Capital and reserves

Called up share capital

552,606

100

Retained earnings

(764,491)

(558,005)

(211,885)

(557,905)

Shareholders' funds

For the year ended 31 May 2019 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2019 in accordance with Section 476 of the Companies Act 2006

The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

MR KAZI MOHAMMED ABIDUR RAHMAN Director

These financial statements were approved and authorised for issue by the Board on 14 October 2020 and were signed by:

The notes form part of these financial statements

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For the year ended 31 May 2019

FIRNAS PRIVATE LIMITED

Notes to the Financial Statements

Statutory Information

FIRNAS PRIVATE LIMITED is a private limited company, limited by shares, domiciled in England and Wales, registration

number 09035593.

Registered address:

255 COMMERCIAL ROAD

LONDON

E1 2BT

The presentation currency is £ sterling.

1. Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard

102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006. The

financial statements have been prepared under the historical costs convention as modified by the revaluation of certain assets.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.

Property, plant and equipment

Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

15% Reducing balance

Computer Equipment

Inventories

Inventories are value at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straightline basis over the period of the lease.

2. Property, plant and equipment

Computer

Equipment

Cost or valuation

At 01 June 2018

6,845

At 31 May 2019

6,845

Provision for depreciation and impairment

At 01 June 2018

1,930

Charge for year

737

At 31 May 2019

2,667

At 31 May 2019

Net book value

4,178

At 31 May 2018

4,915

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For the year ended 31 May 2019

FIRNAS PRIVATE LIMITED

Notes to the Financial Statements Continued

3. Trade and other receivables

2018

2019

Other debtors

29,129

4. Trade and other payables: amounts falling due within one year

2018

2019

Bank loans and overdraft

3,940

Accruals and deferred income

18,726

1,350

22,666

1,350

5. Trade and other payables: amounts falling due after more than one year

2018

2019

Bank loans and overdraft

11,493

596,777

175,693

Directors' loan accounts

Other creditors

37,948

225,134

596,777

6. Average number of persons employed

During the year the average number of employees was 2 (2018 : 1)

7. Change of name

Since the last accounting period, the company has had a change of name from FIRNAS AIRWAYS LTD to FIRNAS PRIVATE LIMITED. The name was changed on 15 November 2019.

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