Malik & Malik Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 08007355 (England and Wales)

MALIK & MALIK LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

M Nazeer

M Saleem

Registered office:

234- 236 High Road

Willesden

London

NW10 2NX

Registered number:

08007355 (England and Wales)

Accountants:

M. Parmar & Co.

Chartered Accountants

First Floor

244 Edgware Road

London

W2 1DS

Fixed assets

Intangible assets

4

-

90,000

Tangible assets

5

65,851

53,061

65,851

143,061

Current assets

Debtors

6

41,596

349,934

Cash at bank and in hand

329,804

44,028

371,400

393,962

Creditors

Amounts falling due within one year

7

388,219

439,580

Net current liabilities

(16,819

)

(45,618

)

Total assets less current liabilities

49,032

97,443

Capital and reserves

Called up share capital

100

100

Retained earnings

48,932

97,343

Shareholders' funds

49,032

97,443

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 23 November 2017 and were signed on its behalf by:

M Nazeer - Director

M Saleem - Director

1.	Statutory information

Malik & Malik 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.

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" 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 cost convention.

Turnover

Turnover represents amounts receivable for services net of VAT.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of five 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, fittings & 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.

3.	Employees and directors

The average number of employees during the year was 27 .

4.	Intangible fixed assets

Goodwill

£

Cost

At 1 July 2016

and 30 June 2017

450,000

Amortisation

At 1 July 2016

360,000

Amortisation for year

90,000

At 30 June 2017

450,000

Net book value

At 30 June 2017

-

At 30 June 2016

90,000

5.	Tangible fixed assets

Fixtures,

fittings &

equipment

£

Cost

At 1 July 2016

100,355

Additions

34,740

At 30 June 2017

135,095

Depreciation

At 1 July 2016

47,294

Charge for year

21,950

At 30 June 2017

69,244

Net book value

At 30 June 2017

65,851

At 30 June 2016

53,061

6.

Debtors: amounts falling due within one year

2017

2016

£

£

Trade debtors

18,496

11,512

Other debtors

23,100

338,422

41,596

349,934

7.

Creditors: amounts falling due within one year

2017

2016

£

£

Trade creditors

54,957

81,158

Taxation and social security

64,507

74,366

Other creditors

268,755

284,056

388,219

439,580