Shivam Engineers Limited 06531956 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is import and export of manufacturing equipment and parts and provision of software services Digita Accounts Production Advanced 6.30.9574.0 true true 06531956 2022-04-01 2023-03-31 06531956 2023-03-31 06531956 bus:OrdinaryShareClass1 2023-03-31 06531956 core:CurrentFinancialInstruments 2023-03-31 06531956 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 06531956 core:FurnitureFittingsToolsEquipment 2023-03-31 06531956 bus:SmallEntities 2022-04-01 2023-03-31 06531956 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 06531956 bus:FullAccounts 2022-04-01 2023-03-31 06531956 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 06531956 bus:RegisteredOffice 2022-04-01 2023-03-31 06531956 bus:Director1 2022-04-01 2023-03-31 06531956 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 06531956 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 06531956 core:ComputerEquipment 2022-04-01 2023-03-31 06531956 core:FurnitureFittings 2022-04-01 2023-03-31 06531956 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 06531956 countries:AllCountries 2022-04-01 2023-03-31 06531956 2022-03-31 06531956 core:FurnitureFittingsToolsEquipment 2022-03-31 06531956 2021-04-01 2022-03-31 06531956 2022-03-31 06531956 bus:OrdinaryShareClass1 2022-03-31 06531956 core:CurrentFinancialInstruments 2022-03-31 06531956 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 06531956 core:FurnitureFittingsToolsEquipment 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 06531956

Shivam Engineers Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Shivam Engineers Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Shivam Engineers Limited

(Registration number: 06531956)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

6,469

4,718

Current assets

 

Debtors

5

87,874

13,055

Cash at bank and in hand

 

48,269

83,526

 

136,143

96,581

Creditors: Amounts falling due within one year

6

(96,823)

(87,109)

Net current assets

 

39,320

9,472

Net assets

 

45,789

14,190

Capital and reserves

 

Called up share capital

7

100

100

Profit and loss account

45,689

14,090

Shareholders' funds

 

45,789

14,190

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 2 November 2023
 

.........................................
B Gore
Director

 

Shivam Engineers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales..

The address of its registered office is:
126 Cheam Road
Cheam
Sutton
Surrey
SM1 2EB
England

These financial statements were authorised for issue by the director on 2 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in Sterling (£). Monetary amounts in the financial statements are rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Shivam Engineers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

10% Reducing Balance

Office equipment

33% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Shivam Engineers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Shivam Engineers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2022

16,823

16,823

Additions

2,961

2,961

At 31 March 2023

19,784

19,784

Depreciation

At 1 April 2022

12,105

12,105

Charge for the year

1,210

1,210

At 31 March 2023

13,315

13,315

Carrying amount

At 31 March 2023

6,469

6,469

At 31 March 2022

4,718

4,718

5

Debtors

Current

2023
£

2022
£

Trade debtors

87,874

6,114

Other debtors

-

6,941

 

87,874

13,055

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

74,400

70,385

Taxation and social security

6,898

14,524

Accruals and deferred income

2,350

2,200

Other creditors

13,175

-

96,823

87,109

 

Shivam Engineers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Creditors: amounts falling due after more than one year

2023
£

2022
£

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

8

Related party transactions

Included within other creditors is an amount of £13,176 (2022:£Nil ) owed to the director. The loan is provided interest-free and is unsecured. There are no formal terms and conditions.

Included within other debtors is an amount of £Nil (2022:£964 ) owed by the director.The loan is provided interest-free and is unsecured. There are no formal terms and conditions.