Registered number
12249230
SEKHEM LIMITED
Filleted Accounts
30 October 2022
SEKHEM LIMITED
Registered number: 12249230
Balance Sheet
as at 30 October 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 - 140,406
Current assets
Debtors 4 - 12,320
Cash at bank and in hand 1 14
1 12,334
Creditors: amounts falling due within one year 5 (138,388) (108,602)
Net current liabilities (138,387) (96,268)
Total assets less current liabilities (138,387) 44,138
Creditors: amounts falling due after more than one year 6 (26,774) (45,931)
Net liabilities (165,161) (1,793)
Capital and reserves
Called up share capital 2 2
Profit and loss account (165,163) (1,795)
Shareholders' funds (165,161) (1,793)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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 and delivered 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.
G Sekhon
Director
Approved by the board on 16 October 2023
SEKHEM LIMITED
Notes to the Accounts
for the period from 1 November 2021 to 30 October 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going Concern
The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The company has financial support from the shareholder. Based on this the director believes the company has adequate resources to continue in operational existence and to meet its financial obligations . Accordingly, the director continues to adopt the going concern basis in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Impairment of assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.
Non-financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
Financial assets
For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Leasehold
£
Cost
At 1 November 2021 140,406
Impairments (140,406)
At 30 October 2022 -
Depreciation
At 30 October 2022 -
Net book value
At 30 October 2022 -
At 31 October 2021 140,406
4 Debtors 2022 2021
£ £
Other debtors - 12,320
5 Creditors: amounts falling due within one year 2022 2021
£ £
Bank loans and overdrafts 9,579 -
Taxation and social security costs - 190
Amounts owed to director 124,593 3,332
Accruals and deferred income 1,860 102,723
Other Creditors 2,356 2,357
138,388 108,602
6 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 26,774 45,931
Bank loan relates to Bounce Back Loan scheme set up by the Government to help businesses with Covid-19. It is Government backed unsecured loan. The loan is for a period of six years. No interest is payable for the first year of the loan, and thereafter interest is charged at 2.5% per annum.
7 Other information
SEKHEM LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
509 Stroude Road
Virginia Water
GU25 4BU
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