Company Registration No. 05393795 (England and Wales)
Shonki Brothers Limited
Unaudited accounts
for the year ended 31 March 2023
Shonki Brothers Limited
Unaudited accounts
Contents
Shonki Brothers Limited
Statement of financial position
as at 31 March 2023
Tangible assets
5,045
7,953
Cash at bank and in hand
530,427
510,746
Creditors: amounts falling due within one year
(175,176)
(277,609)
Net current assets
569,671
360,622
Total assets less current liabilities
574,716
368,575
Provisions for liabilities
Net assets
573,757
367,064
Called up share capital
100
100
Profit and loss account
573,657
366,964
Shareholders' funds
573,757
367,064
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 25 August 2023 and were signed on its behalf by
Kalvir Singh SANGRA
Director
Company Registration No. 05393795
Shonki Brothers Limited
Notes to the Accounts
for the year ended 31 March 2023
Shonki Brothers Limited is a private company, limited by shares, registered in England and Wales, registration number 05393795. The registered office is 85 Granby Street, Leicester, LE1 6FB.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 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.
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:
Plant & machinery
15% straight line
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.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Government grants in relation to expenditure are credited when the expenditure is charged to profit and loss.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Shonki Brothers Limited
Notes to the Accounts
for the year ended 31 March 2023
4
Tangible fixed assets
Plant & machinery
Amounts falling due within one year
Trade debtors
56,249
59,175
Other debtors
158,171
68,310
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
37,698
8,524
Taxes and social security
130,499
70,816
Other creditors
6,979
198,269
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
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:
Not later than one year
34,200
25,000
9
Average number of employees
During the year the average number of employees was 9 (2022: 9).