Azmat Riaz Limited - Accounts to registrar (filleted) - small 18.2

Azmat Riaz Limited - Accounts to registrar (filleted) - small 18.2

AZMAT RIAZ LIMITED - Company Information

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REGISTERED NUMBER: 06470472 (England and Wales)







Abridged Financial Statements for the Year Ended 31st January 2021

for

Azmat Riaz Limited
Azmat Riaz Limited (Registered number: 06470472)






Contents of the Financial Statements
for the Year Ended 31st January 2021




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


Azmat Riaz Limited

Company Information
for the Year Ended 31st January 2021







DIRECTOR: A Riaz





SECRETARY: Mrs S Azeem





REGISTERED OFFICE: Hills Estate Agents
46 Foregate Street
Worcester
Worcestershire
WR1 1EE





REGISTERED NUMBER: 06470472 (England and Wales)





ACCOUNTANTS: The Richards Sandy Partnership
Thorneloe House
25 Barbourne Road
Worcester
Worcestershire
WR1 1RU
Page 1
Azmat Riaz Limited (Registered number: 06470472)

Abridged Balance Sheet
31st January 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 84,999 96,999
Tangible assets 5 14,545 15,917
99,544 112,916

CURRENT ASSETS
Debtors 140,924 39,958
Cash at bank and in hand 282,034 269,199
422,958 309,157
CREDITORS
Amounts falling due within one year 190,823 109,814
NET CURRENT ASSETS 232,135 199,343
TOTAL ASSETS LESS CURRENT
LIABILITIES
331,679
312,259

PROVISIONS FOR LIABILITIES 6 1,600 1,800
NET ASSETS 330,079 310,459

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 329,979 310,359
SHAREHOLDERS' FUNDS 330,079 310,459

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps 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 Sections 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.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st January 2021 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director and authorised for issue on 13th April 2021 and were signed by:




A Riaz - Director


The notes form part of these financial statements

Page 2
Azmat Riaz Limited (Registered number: 06470472)

Notes to the Financial Statements
for the Year Ended 31st January 2021

1. STATUTORY INFORMATION

Azmat Riaz Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty years.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance and 5% on cost

GOVERNMENT GRANTS
Income from Government grants is recognised in the profit and loss within the same period to which the related expense is incurred.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2020 - 10 ) .

Page 3 continued...
Azmat Riaz Limited (Registered number: 06470472)

Notes to the Financial Statements - continued
for the Year Ended 31st January 2021

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st February 2020
and 31st January 2021 239,999
AMORTISATION
At 1st February 2020 143,000
Amortisation for year 12,000
At 31st January 2021 155,000
NET BOOK VALUE

At 31st January 2021 84,999
At 31st January 2020 96,999

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st February 2020 49,813
Additions 2,068
Disposals (1,218 )
At 31st January 2021 50,663
DEPRECIATION
At 1st February 2020 33,896
Charge for year 3,333
Eliminated on disposal (1,111 )
At 31st January 2021 36,118
NET BOOK VALUE
At 31st January 2021 14,545
At 31st January 2020 15,917

6. PROVISIONS FOR LIABILITIES
2021 2020
£    £   
Deferred tax 1,600 1,800

Deferred
tax
£   
Balance at 1st February 2020 1,800
Provided during year (200 )
Balance at 31st January 2021 1,600

Page 4 continued...
Azmat Riaz Limited (Registered number: 06470472)

Notes to the Financial Statements - continued
for the Year Ended 31st January 2021

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st January 2021 and 31st January 2020:

2021 2020
£    £   
A Riaz
Balance outstanding at start of year - -
Amounts advanced 100,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 100,000 -

Page 5