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REGISTERED NUMBER: 05787493 (England and Wales)

















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

SHI INTERNATIONAL LIMITED

SHI INTERNATIONAL LIMITED (REGISTERED NUMBER: 05787493)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


SHI INTERNATIONAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: Mrs S Thakrar





REGISTERED OFFICE: 505 Pinner Road
Harrow
Middlesex
HA2 6EH





REGISTERED NUMBER: 05787493 (England and Wales)





ACCOUNTANTS: STGCA LLP t/a Sterling
Chartered Accountants
505 Pinner Road
Harrow
Middlesex
HA2 6EH

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SHI INTERNATIONAL LIMITED


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 Statement of Financial Position. 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 Shi International Limited for the year ended 31 March 2023 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity 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 Shi International Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Shi International Limited and state those matters that we have agreed to state to the director of Shi International 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 Shi International Limited and its director for our work or for this report.

It is your duty to ensure that Shi International 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 Shi International Limited. You consider that Shi International 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 Shi International 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.






STGCA LLP t/a Sterling
505 Pinner Road
Harrow
Middlesex
HA2 6EH


6 October 2023

SHI INTERNATIONAL LIMITED (REGISTERED NUMBER: 05787493)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 58,364 69,114
58,364 69,114

CURRENT ASSETS
Inventories 6 47,421 52,421
Debtors 7 78,589 50,610
Cash at bank and in hand 236,410 189,323
362,420 292,354
CREDITORS
Amounts falling due within one year 8 266,628 293,681
NET CURRENT ASSETS/(LIABILITIES) 95,792 (1,327 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

154,156

67,787

CREDITORS
Amounts falling due after more than one year 9 (126,699 ) (147,527 )

PROVISIONS FOR LIABILITIES 11 (11,055 ) (13,090 )
NET ASSETS/(LIABILITIES) 16,402 (92,830 )

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 13 16,302 (92,930 )
SHAREHOLDERS' FUNDS 16,402 (92,830 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

SHI INTERNATIONAL LIMITED (REGISTERED NUMBER: 05787493)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2023


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 6 October 2023 and were signed by:





Mrs S Thakrar - Director


SHI INTERNATIONAL LIMITED (REGISTERED NUMBER: 05787493)

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


1. STATUTORY INFORMATION

Shi International 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 represents fees receivable from dispensing chemist in specialised stores excluding vat.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, 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.
Short leasehold - Straight line over 30 years
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33.33% on reducing balance

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.


SHI INTERNATIONAL LIMITED (REGISTERED NUMBER: 05787493)

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


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 6 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 414,993
AMORTISATION
At 1 April 2022
and 31 March 2023 414,993
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

Goodwill is amortised over the period of five years.

SHI INTERNATIONAL LIMITED (REGISTERED NUMBER: 05787493)

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


5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Short and Motor Computer
leasehold fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 10,040 87,345 60,168 3,161 160,714
Additions - - - 1,166 1,166
At 31 March 2023 10,040 87,345 60,168 4,327 161,880
DEPRECIATION
At 1 April 2022 2,620 64,239 21,661 3,080 91,600
Charge for year 334 3,466 7,701 415 11,916
At 31 March 2023 2,954 67,705 29,362 3,495 103,516
NET BOOK VALUE
At 31 March 2023 7,086 19,640 30,806 832 58,364
At 31 March 2022 7,420 23,106 38,507 81 69,114

6. INVENTORIES
2023 2022
£    £   
Finished goods 47,421 52,421

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 59,472 32,715
Other debtors 7,250 7,250
VAT 4,988 3,681
Prepayments 6,879 6,964
78,589 50,610

SHI INTERNATIONAL LIMITED (REGISTERED NUMBER: 05787493)

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


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 10) 20,827 20,827
Trade creditors 75,873 74,124
Social security and other taxes 1,800 4,286
Pension 280 317
Other Creditors - 26,425
Directors' current accounts 165,978 165,902
Accrued expenses 1,870 1,800
266,628 293,681

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 10) 126,699 147,527

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 43,390 64,218

10. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 20,827 20,827

Amounts falling due between one and two years:
Bank loans - 1-2 years 20,827 20,827

Amounts falling due between two and five years:
Bank loans - 2-5 years 62,482 62,482

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 43,390 64,218

SHI INTERNATIONAL LIMITED (REGISTERED NUMBER: 05787493)

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


11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 11,055 13,090

Deferred
tax
£   
Balance at 1 April 2022 13,090
Movement in the year (2,035 )
Balance at 31 March 2023 11,055

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

13. RESERVES
Retained
earnings
£   

At 1 April 2022 (92,930 )
Profit for the year 111,732
Dividends (2,500 )
At 31 March 2023 16,302

14. ULTIMATE CONTROLLING PARTY

The director is the ultimate controller as she holds all the issued share capital of the company.