Markaz Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 09176493 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 December 2022

for

Markaz Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Report of the Accountants

5

DIRECTOR:

M L Hogan

REGISTERED OFFICE:

Parade Tea Rooms

Western Parade

Southsea

Portsmouth

Hampshire

PO5 3JF

REGISTERED NUMBER:

09176493 (England and Wales)

ACCOUNTANTS:

Johnston Wood Roach Limited

24 Picton House

Hussar Court

Waterlooville

Hampshire

PO7 7SQ

FIXED ASSETS

Tangible assets

4

181,135

194,808

CURRENT ASSETS

Debtors

5

29,433

32,495

Cash at bank

1,718

1,878

31,151

34,373

CREDITORS

Amounts falling due within one year

6

195,962

209,033

NET CURRENT LIABILITIES

(164,811

)

(174,660

)

TOTAL ASSETS LESS CURRENT LIABILITIES

16,324

20,148

PROVISIONS FOR LIABILITIES

15,703

17,297

NET ASSETS

621

2,851

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

521

2,751

SHAREHOLDERS' FUNDS

621

2,851

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 December 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 28 September 2023 and were signed by:

M L Hogan - Director

1.	STATUTORY INFORMATION

Markaz Ltd 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.

The presentation currency of the financial statements is the Pound Stirling (£).

Accounts are rounded to the nearest pound.

The accounts represent the company as an individual entity.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

4% on cost

Fixtures and fittings

-

10% on cost

Computer equipment

-

33% on cost

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 31 December 2021

and 30 December 2022

227,809

45,602

120

273,531

DEPRECIATION

At 31 December 2021

48,723

29,880

120

78,723

Charge for year

9,113

4,560

-

13,673

At 30 December 2022

57,836

34,440

120

92,396

NET BOOK VALUE

At 30 December 2022

169,973

11,162

-

181,135

At 30 December 2021

179,086

15,722

-

194,808

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.12.22

30.12.21

£

£

Amounts owed by group undertakings

28,261

31,000

Other debtors

1,172

1,495

29,433

32,495

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.12.22

30.12.21

£

£

Trade creditors

1,293

3,719

Amounts owed to group undertakings

187,542

199,293

Taxation and social security

2,528

2,550

Other creditors

4,599

3,471

195,962

209,033

7.	ULTIMATE CONTROLLING PARTY

The controlling party is the board of directors.

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.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 December 2022 set out on pages three to six and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Johnston Wood Roach Limited

24 Picton House

Hussar Court

Waterlooville

Hampshire

PO7 7SQ

Date: .............................................