Azmat Riaz Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 06470472 (England and Wales)

AZMAT RIAZ LIMITED

Unaudited Financial Statements for the Year Ended 31 January 2022

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

to

4

Notes to the Financial Statements

5

to

7

Director:

A Riaz

Secretary:

S Azeem

Registered office:

Hills Estate Agents

46 Foregate Street

Worcester

Worcestershire

WR1 1EE

Registered number:

06470472 (England and Wales)

Accountants:

Haines Watts Worcester Limited

Saggar House

Princes Drive

Worcester

Worcestershire

WR1 2PG

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Azmat Riaz Limited for the year ended 31 January 2022 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Azmat Riaz Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Azmat Riaz Limited and state those matters that we have agreed to state to the director of Azmat Riaz Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Azmat Riaz Limited and its director for our work or for this report.

It is your duty to ensure that Azmat Riaz Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Azmat Riaz Limited. You consider that Azmat Riaz Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Azmat Riaz Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Haines Watts Worcester Limited

Saggar House

Princes Drive

Worcester

Worcestershire

WR1 2PG

5 October 2022

Fixed assets

Intangible assets

4

72,999

84,999

Tangible assets

5

13,628

14,545

86,627

99,544

Current assets

Debtors

6

56,120

140,924

Cash at bank and in hand

403,007

282,034

459,127

422,958

Creditors

Amounts falling due within one year

7

162,126

190,823

Net current assets

297,001

232,135

Total assets less current liabilities

383,628

331,679

Creditors

Amounts falling due after more than one year

8

(50,000

)

-

Provisions for liabilities

(1,537

)

(1,600

)

Net assets

332,091

330,079

Capital and reserves

Called up share capital

100

100

Retained earnings

331,991

329,979

Shareholders' funds

332,091

330,079

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2022 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.

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

The financial statements were approved by the director and authorised for issue on 5 October 2022 and were signed by:

A Riaz - Director

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.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 11 (2021 - 10 ) .

4.	Intangible fixed assets

Goodwill

£

Cost

At 1 February 2021

and 31 January 2022

239,999

Amortisation

At 1 February 2021

155,000

Amortisation for year

12,000

At 31 January 2022

167,000

Net book value

At 31 January 2022

72,999

At 31 January 2021

84,999

5.	Tangible fixed assets

Improvements

Fixtures

to

and

Computer

property

fittings

equipment

Totals

£

£

£

£

Cost

At 1 February 2021

10,000

13,852

26,811

50,663

Additions

-

-

2,278

2,278

At 31 January 2022

10,000

13,852

29,089

52,941

Depreciation

At 1 February 2021

3,958

11,499

20,661

36,118

Charge for year

500

588

2,107

3,195

At 31 January 2022

4,458

12,087

22,768

39,313

Net book value

At 31 January 2022

5,542

1,765

6,321

13,628

At 31 January 2021

6,042

2,353

6,150

14,545

6.

Debtors: amounts falling due within one year

2022

2021

£

£

Trade debtors

10,178

10,815

Amts owed by/to particip int

-

17,600

Amounts owed by group undertakings

37,700

-

Other debtors

724

682

Directors' current accounts

-

100,000

Prepayments

7,518

11,827

56,120

140,924

7.

Creditors: amounts falling due within one year

2022

2021

£

£

Trade creditors

10,670

5,777

Tax

15,929

20,233

Social security and other taxes

5,664

735

VAT

13,125

31,907

Other creditors

794

658

Owed to clients

113,464

128,782

Accrued expenses

2,480

2,731

162,126

190,823

8.

Creditors: amounts falling due after more than one year

2022

2021

£

£

Bank loans - 1-2 years

7,019

-

Bank loans - 2-5 years

29,863

-

Bank loans more 5 yr by instal

13,118

-

50,000

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

13,118

-

9.	Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 January 2022 and 31 January 2021:

2022

2021

£

£

A Riaz

Balance outstanding at start of year

100,000

-

Amounts advanced

-

100,000

Amounts repaid

(100,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

100,000