Shakti Ghar Ltd
Registered number: 12700481
Statement of Financial Position
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 310,000 311,000
Current assets
Cash at bank and in hand 5,254 3,073
Creditors: amounts falling due within one year 5 (112,983) (117,764)
Net current liabilities (107,729) (114,691)
Total assets less current liabilities 202,271 196,309
Creditors: amounts falling due after more than one year 6 (227,252) (227,253)
Provisions for liabilities (1,724) (1,914)
Net liabilities (26,705) (32,858)
Capital and reserves
Called up share capital 1 1
Fair value reserve 8 7,349 8,159
Profit and loss account (34,055) (41,018)
Shareholder's funds (26,705) (32,858)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Kuma Rai
Director
Approved by the board on 9 October 2023
Shakti Ghar Ltd
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Going concern
The company had retained losses as at the balance sheet date which were not covered by the share capital of the company. The company is continuing to trade as the director of the company is funding the company in the form of a director’s loan. The director is planning to continue this financial support for the company for the foreseeable future.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from property rental. Turnover from the rental is recognised by reference to the stage of completion of the tenancy.
Creditors
Short term creditors are measured at transaction 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.
2 Exceptional items 2023 2022
£ £
Value adjustments on fixed assets and current asset investments 1,000 (10,073)
1,000 (10,073)
3 Employees and directors 2023 2022
Number Number
Average number of directors and persons employed by the company 1 1
4 Tangible fixed assets
Land and buildings
£
Cost
At 1 July 2022 311,000
Fair value movements (1,000)
At 30 June 2023 310,000
Depreciation
At 30 June 2023 -
Net book value
At 30 June 2023 310,000
At 30 June 2022 311,000
Freehold land and buildings: 2023 2022
£ £
Historical cost 300,927 300,927
300,927 300,927
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors - 66
Accruals 822 779
Other creditors 112,161 116,919
112,983 117,764
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 227,252 227,253
7 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 227,252 227,253
The loan from The Mortgage Lender Ltd contains a negative pledge.
8 Fair value reserve 2023 2022
£ £
At 1 July 2022 8,159 -
(Loss)/gain on revaluation of land and buildings (1,000) 10,073
Deferred taxation arising on the revaluation of land and buildings 190 (1,914)
At 30 June 2023 7,349 8,159
9 Other information
Shakti Ghar Ltd is a private company limited by shares and incorporated in England. Its registered office is:
42 Badajos Road
Aldershot
Hampshire
GU11 1AQ
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