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REGISTERED NUMBER: SC324628 (Scotland)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

Shimla Limited

Shimla Limited (Registered number: SC324628)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Shimla Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: M Miah
S Iftekhar
Mrs S Bibi





REGISTERED OFFICE: Shamoli Restaurant
105 High Street
Edinburgh
EH1 1SG





REGISTERED NUMBER: SC324628 (Scotland)





ACCOUNTANTS: Ahmad & Nabi Mcmullan Accountants
95-107 Lancefield Street
Glasgow
G3 8HZ

Shimla Limited (Registered number: SC324628)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 75,000 75,000
Tangible assets 5 949 1,186
75,949 76,186

CURRENT ASSETS
Stocks 6 10,060 8,110
Cash at bank and in hand 64,310 76,677
74,370 84,787
CREDITORS
Amounts falling due within one year 7 21,734 22,743
NET CURRENT ASSETS 52,636 62,044
TOTAL ASSETS LESS CURRENT
LIABILITIES

128,585

138,230

CREDITORS
Amounts falling due after more than one
year

8

43,859

76,742
NET ASSETS 84,726 61,488

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 84,626 61,388
SHAREHOLDERS' FUNDS 84,726 61,488

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 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.

Shimla Limited (Registered number: SC324628)

Balance Sheet - continued
31 May 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 Board of Directors and authorised for issue on 4 September 2023 and were signed on its behalf by:





S Iftekhar - Director


Shimla Limited (Registered number: SC324628)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Shimla Limited is a private company, limited by shares , registered in Scotland. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of nil 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.

Stocks
Stocks 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 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.

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.

Shimla Limited (Registered number: SC324628)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 75,000
NET BOOK VALUE
At 31 May 2023 75,000
At 31 May 2022 75,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022
and 31 May 2023 42,882
DEPRECIATION
At 1 June 2022 41,696
Charge for year 237
At 31 May 2023 41,933
NET BOOK VALUE
At 31 May 2023 949
At 31 May 2022 1,186

6. STOCKS
31.5.23 31.5.22
£    £   
Stocks 10,060 8,110

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade creditors 2 1
Tax 5,389 2,837
Social security and other taxes 460 475
VAT 13,163 12,046
Accrued expenses 2,720 7,384
21,734 22,743

Shimla Limited (Registered number: SC324628)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Other loans (see note 9) 15,526 37,875
BB loan 28,333 38,867
43,859 76,742

9. LOANS

An analysis of the maturity of loans is given below:

31.5.23 31.5.22
£    £   
Amounts falling due between two and five years:
Director's loan account 15,526 37,875

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
100 Ordinary £1 100 100

11. RESERVES
Retained
earnings
£   

At 1 June 2022 61,388
Profit for the year 23,238
At 31 May 2023 84,626