MUSLIMS FUNERAL SERVICES LTD - Accounts

Registered number

08071263

MUSLIMS FUNERAL SERVICES LTD

Report and Financial Statements

31 May 2022

MUSLIMS FUNERAL SERVICES LTD
Registered number:				08071263
Directors' Report
The directors present their report and financial statements for the year ended 31 May 2022.
Principal activities
The company's principal activity during the year continued to be ...
Directors
The following persons served as directors during the year:
	Mr. Inamullah Tariq
	Mr. KaleemUllah Tariq
	Mr. Mohammad Tariq
	Mr. Mudassar Ahmed
	Mrs. Sadia Amran
Disclosure of information to auditors

Each person who was a director at the time this report was approved confirms that:
●	so far as he is aware, there is no relevant audit information of which the company's auditor is unaware; and
●	he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditor is aware of that information.

This report was approved by the board on 14 November 2022 and signed by its order.

Inamullah TARIQ

Mohammad TARIQ

Secretary

MUSLIMS FUNERAL SERVICES LTD
Statement of Financial Position
as at 31 May 2022
Notes				2022			2021
£					£
Fixed assets
Tangible assets	6			16,104			33,059
Current assets
Debtors	7		62,260			19,620
Cash at bank and in hand			50,710			116,378
			112,970			135,998
Creditors: amounts falling due within one year	8		(12,117)			(14,366)
Net current assets				100,853			121,632
Total assets less current liabilities				116,957			154,691
Creditors: amounts falling due after more than one year	9			(13,973)			(13,974)
Net assets				102,984			140,717
Capital and reserves
Profit and loss account	10			102,984			140,717
Total equity				102,984			140,717
Inamullah TARIQ
Director
Approved by the board on 14 November 2022

MUSLIMS FUNERAL SERVICES LTD
Notes to the Accounts
for the year ended 31 May 2022
1	Summary of significant accounting policies
	Basis of preparation
	The financial statements 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.
	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.
	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
	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:
	Freehold buildings			over 50 years
	Leasehold land and buildings			over the lease term
	Plant and machinery			over 5 years
	Fixtures, fittings, tools and equipment			over 5 years

	Investment property
	Investment property is initially recognised at cost and then subsequently measured at fair value. Changes in value are recognised in profit or loss.
	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
	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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.
2	Analysis of turnover					2022		2021
£							£
	Sale of goods					530,018		825,058
	By geographical market:
	UK					530,018		825,058
3	Operating profit					2022		2021
£							£
	This is stated after charging:
	Depreciation of owned fixed assets					16,955		16,955
4	Staff costs					2022		2021
£							£
	Wages and salaries					-		-
	Social security costs					-		-
	Other pension costs					-		-
						-		-
	Average number of employees during the year					Number	Number
						-		-
5	Taxation					2022		2021
£							£
	Analysis of charge in period
	Tax on profit on ordinary activities					-		-
	Factors affecting tax charge for period
	The differences between the tax assessed for the period and the standard rate of corporation tax are explained as follows:
						2022		2021
£							£
	(Loss)/profit on ordinary activities before tax					(37,733)		27,487
	Standard rate of corporation tax in the UK					20%		20%
£							£
	Profit on ordinary activities multiplied by the standard rate of corporation tax					(7,547)		5,497
	Effects of:
	Expenses not deductible for tax purposes					7,547		(5,497)
	Current tax charge for period					-		-
	Factors that may affect future tax charges
6	Tangible fixed assets
		Land and buildings		Plant and machinery		Fixtures, fittings, tools and equipment		Total
		At cost		At cost		At cost
£			£		£		£
	Cost or valuation
	At 1 June 2021	6,087		17,795		44,970		68,852
	At 31 May 2022	6,087		17,795		44,970		68,852
	Depreciation
	At 1 June 2021	3,366		10,244		22,183		35,793
	Charge for the year	2,029		5,932		8,994		16,955
	At 31 May 2022	5,395		16,176		31,177		52,748
	Carrying amount
	At 31 May 2022	692		1,619		13,793		16,104
	At 31 May 2021	2,721		7,551		22,787		33,059
7	Debtors					2022		2021
£							£
	Trade debtors					9,620		9,620
	Other debtors					52,640		10,000
						62,260		19,620
8	Creditors: amounts falling due within one year					2022		2021
£							£
	Trade creditors					10,106		10,106
	Other creditors					2,011		4,260
						12,117		14,366
9	Creditors: amounts falling due after one year					2022		2021
£							£
	Other creditors					13,973		13,974
10	Profit and loss account					2022		2021
£							£
	At 1 June					140,717		113,230
	(Loss)/profit for the financial year					(37,733)		27,487
	At 31 May					102,984		140,717
11	Presentation currency
	The financial statements are presented in Sterling.
12	Legal form of entity and country of incorporation
	MUSLIMS FUNERAL SERVICES LTD is a private company limited by shares and incorporated in England.
13	Principal place of business
	The address of the company's principal place of business and registered office is:
	73
	Mitcham Lane
	London
	England
	SW16 6LY
14	Reconciliations on adoption of FRS 102
	Profit and loss for the year ended 31 May 2021					£
	Profit under former UK GAAP					27,487
	Profit under FRS 102					27,487
	Balance sheet at 31 May 2021					£
	Equity under former UK GAAP					140,717
	Equity under FRS 102					140,717
	Balance sheet at 1 June 2020					£
	Equity under former UK GAAP					-
	Equity under FRS 102					-

MUSLIMS FUNERAL SERVICES LTD

Independent auditor's report

to the members of MUSLIMS FUNERAL SERVICES LTD

Opinion

We have audited the financial statements of MUSLIMS FUNERAL SERVICES LTD (the 'company') for the year ended 31 May 2022 which comprise the Income Statement, the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
●	give a true and fair view of the state of the company's affairs as at 31 May 2022 and of its loss for the year then ended;
●	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
●	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
●	the information given in the strategic report and the directors’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
●	the strategic report and the directors’ report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
●	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
●	the financial statements are not in agreement with the accounting records and returns; or
●	certain disclosures of directors’ remuneration specified by law are not made; or
●	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors’ responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

[Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud.]

A further description of our responsibilities for the audit of the financial statements is available on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

0
(Senior Statutory Auditor)		187A London Road
for and on behalf of		Croydon
Taxaccolega Chartered Certified Accountant		London
Statutory Auditor		Surrey
14 November 2022		CR0 2RJ