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Company Registration No. 05384951 (England and Wales)
Shoan Limited Unaudited accounts for the year ended 31 March 2023
Shoan Limited Unaudited accounts Contents
Page
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Shoan Limited Company Information for the year ended 31 March 2023
Director
Usman Aftab
Secretary
Sadaf Usman
Company Number
05384951 (England and Wales)
Registered Office
102 Green Street London E7 8JG
Accountants
Shiraz Moosajee 30 Hallam Gardens Hatch End Pinner Middlesex HA54PR
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Shoan Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
8 
8 
Current assets
Inventories
76,030 
81,630 
Cash at bank and in hand
5,543 
6,676 
81,573 
88,306 
Creditors: amounts falling due within one year
(53,368)
(51,206)
Net current assets
28,205 
37,100 
Total assets less current liabilities
28,213 
37,108 
Creditors: amounts falling due after more than one year
(139,777)
(139,777)
Net liabilities
(111,564)
(102,669)
Capital and reserves
Called up share capital
6 
6 
Share premium
94 
94 
Profit and loss account
(111,664)
(102,769)
Shareholders' funds
(111,564)
(102,669)
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 20 November 2023 and were signed on its behalf by
Usman Aftab Director Company Registration No. 05384951
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Shoan Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Shoan Limited is a private company, limited by shares, registered in England and Wales, registration number 05384951. The registered office is 102 Green Street, London, E7 8JG.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25 % Straight line method
Computer equipment
33.3% straight line method
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Going concern
The company has a net deficiency of assets at the balance sheet date and is dependent upon the financial support from the shareholders. As a result the director considers it appropriate for the financial statements to be prepared on going concern basis.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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Shoan Limited Notes to the Accounts for the year ended 31 March 2023
Government grants
Government grants are recognised as income when the grant proceeds are received or receivable.The grant proceeds are recognised gross as other operating income with the related costs in the period in which they are intended to compensate being presented in the appropriate expense category.
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2022
91,499 
20,853 
112,352 
At 31 March 2023
91,499 
20,853 
112,352 
Depreciation
At 1 April 2022
91,496 
20,848 
112,344 
At 31 March 2023
91,496 
20,848 
112,344 
Net book value
At 31 March 2023
3 
5 
8 
At 31 March 2022
3 
5 
8 
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
4,756 
5,716 
Trade creditors
12,000 
10,000 
Taxes and social security
345 
196 
Other creditors
1,335 
1,344 
Loans from directors
8,282 
7,350 
Accruals
26,650 
26,600 
53,368 
51,206 
6
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Other creditors
139,777 
139,777 
Directors loan : Interest free loan from the director.
7
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
6 Ordinary shares of £1 each
6 
6 
8
Operating lease commitments
2023 
2022 
£ 
£ 
At 31 March 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Later than one year and not later than five years
30,000 
30,000 
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Shoan Limited Notes to the Accounts for the year ended 31 March 2023
9
Transactions with related parties
Usman Aftab is the director and major shareholder, who has provided the company with an interest free loan to the company. The amount due is included under other creditors. The amount due to him is £ 148,059 (2022: £147,127)
10
Average number of employees
During the year the average number of employees was 2 (2022: 3).
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