ACCOUNTS - Final Accounts preparation


Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31Consultancy2022-04-01false11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09492490 2022-04-01 2023-03-31 09492490 2021-04-01 2022-03-31 09492490 2023-03-31 09492490 2022-03-31 09492490 c:Director1 2022-04-01 2023-03-31 09492490 d:FurnitureFittings 2022-04-01 2023-03-31 09492490 d:FurnitureFittings 2023-03-31 09492490 d:FurnitureFittings 2022-03-31 09492490 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 09492490 d:ComputerEquipment 2022-04-01 2023-03-31 09492490 d:ComputerEquipment 2023-03-31 09492490 d:ComputerEquipment 2022-03-31 09492490 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 09492490 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 09492490 d:CurrentFinancialInstruments 2023-03-31 09492490 d:CurrentFinancialInstruments 2022-03-31 09492490 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09492490 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 09492490 d:ShareCapital 2023-03-31 09492490 d:ShareCapital 2022-03-31 09492490 d:RetainedEarningsAccumulatedLosses 2023-03-31 09492490 d:RetainedEarningsAccumulatedLosses 2022-03-31 09492490 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 09492490 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-03-31 09492490 c:FRS102 2022-04-01 2023-03-31 09492490 c:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 09492490 c:FullAccounts 2022-04-01 2023-03-31 09492490 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 09492490 2 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 09492490










ABU AYMAN CONSULTANCY LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
ABU AYMAN CONSULTANCY LTD
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ABU AYMAN CONSULTANCY LTD
FOR THE YEAR ENDED 31 MARCH 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Abu Ayman Consultancy Ltd for the year ended 31 March 2023 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given to us.
 

This report is made solely to the director of Abu Ayman Consultancy Ltd in accordance with the terms of our agreement. Our work has been undertaken solely to prepare for your approval the financial statements of Abu Ayman Consultancy Ltd and state those matters that we have agreed to state to him in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Abu Ayman Consultancy Ltd and its  director for our work or for this report.
 
 
It is your duty to ensure that Abu Ayman Consultancy Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the Company's assets, liabilities, financial position and profit. You consider that Abu Ayman Consultancy Ltd is exempt from the statutory audit requirement for the year.
 
 
We have not been instructed to carry out an audit or review of the financial statements of Abu Ayman Consultancy Ltd. 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.







Shipleys Tax Planning

28 March 2024
Page 1

 
ABU AYMAN CONSULTANCY LTD
REGISTERED NUMBER: 09492490

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
575

  
-
575

Current assets
  

Debtors: amounts falling due within one year
 5 
2,281
2,737

Cash at bank and in hand
 6 
632
1,150

  
2,913
3,887

Creditors: amounts falling due within one year
 7 
(2,281)
(1,141)

Net current assets
  
 
 
632
 
 
2,746

Total assets less current liabilities
  
632
3,321

  

Net assets
  
632
3,321


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
532
3,221

  
632
3,321


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 March 2024.






Page 2

 
ABU AYMAN CONSULTANCY LTD
REGISTERED NUMBER: 09492490

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

Adam Khan
Director

The notes on pages 4 to 9 form part of these financial statements.
Page 3

 
ABU AYMAN CONSULTANCY LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Abu Ayman Consultancy Ltd is a company domiciled in England & Wales, registration number 09492490. The registered office is 167-169 Great Portland Street, 5th Floor, London, W1W 5PF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 4

 
ABU AYMAN CONSULTANCY LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
33%
Computer equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Page 5

 
ABU AYMAN CONSULTANCY LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.9
Financial instruments (continued)


Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Page 6

 
ABU AYMAN CONSULTANCY LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 7

 
ABU AYMAN CONSULTANCY LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 April 2022
2,300
2,351
4,651



At 31 March 2023

2,300
2,351
4,651



Depreciation


At 1 April 2022
1,725
2,351
4,076


Charge for the year on owned assets
575
-
575



At 31 March 2023

2,300
2,351
4,651



Net book value



At 31 March 2023
-
-
-



At 31 March 2022
575
-
575

Page 8

 
ABU AYMAN CONSULTANCY LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Debtors

2023
2022
£
£


Other debtors
2,281
2,737

2,281
2,737



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
632
1,150

632
1,150



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Accruals and deferred income
2,281
1,141

2,281
1,141



8.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
632
-




Financial assets measured at fair value through profit or loss comprise of cash at bank and in hand.


9.


Related party transactions

During the year the company loaned the director £1,672 (2022: £NIL) which was repaid shortly after the
year end. Interest has been charged at 6.5% on this balance. At the balance sheet date other debtors included £1,781 
(2022: £NIL) as amounts owed by the director.


10.


Controlling party

The company is controlled by the director Mr Adam Khan. 

Page 9