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REGISTERED NUMBER: SC374946 (Scotland)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

SHAFAR ENTERTAINMENT LTD.
T/A
CHEEZEE CHOONZ

SHAFAR ENTERTAINMENT LTD. (REGISTERED NUMBER: SC374946)
T/A CHEEZEE CHOONZ






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SHAFAR ENTERTAINMENT LTD.
T/A CHEEZEE CHOONZ

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: Barry Mark Shafar



REGISTERED OFFICE: 2 Winton Lane
Glasgow
G12 0QD



REGISTERED NUMBER: SC374946 (Scotland)



ACCOUNTANTS: Stewart Gilmour & Co.
3rd Floor
St George's Buildings
5 St Vincent Place
Glasgow
G1 2DH



BANKERS: TSB
24 High Street
Paisley
Renfrewshire
PA1 2BS

SHAFAR ENTERTAINMENT LTD. (REGISTERED NUMBER: SC374946)
T/A CHEEZEE CHOONZ

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 322 430
322 430

CURRENT ASSETS
Cash at bank 3,924 5,567

CREDITORS
Amounts falling due within one year 6 3,569 5,913
NET CURRENT ASSETS/(LIABILITIES) 355 (346 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

677

84

PROVISIONS FOR LIABILITIES 7 61 82
NET ASSETS 616 2

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 9 615 1
SHAREHOLDERS' FUNDS 616 2

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

SHAFAR ENTERTAINMENT LTD. (REGISTERED NUMBER: SC374946)
T/A CHEEZEE CHOONZ

BALANCE SHEET - continued
31 MARCH 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 director and authorised for issue on 21 February 2024 and were signed by:





Barry Mark Shafar - Director


SHAFAR ENTERTAINMENT LTD. (REGISTERED NUMBER: SC374946)
T/A CHEEZEE CHOONZ

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Shafar Entertainment Ltd. 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 2010, is being amortised evenly over its estimated useful life of ten 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.
Plant and machinery - 25% on reducing balance

Government grants
Government grants received in respect of expenditure charged to the profit and loss account during the year have been included in profit and loss.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

SHAFAR ENTERTAINMENT LTD. (REGISTERED NUMBER: SC374946)
T/A CHEEZEE CHOONZ

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 22,000
AMORTISATION
At 1 April 2022
and 31 March 2023 22,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 April 2022
and 31 March 2023 5,181
DEPRECIATION
At 1 April 2022 4,751
Charge for year 108
At 31 March 2023 4,859
NET BOOK VALUE
At 31 March 2023 322
At 31 March 2022 430

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Current Corporation Tax 1,081 149
Directors' current accounts 57 4,560
Accruals and deferred income 2,431 1,204
3,569 5,913

7. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 61 82

SHAFAR ENTERTAINMENT LTD. (REGISTERED NUMBER: SC374946)
T/A CHEEZEE CHOONZ

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2022 82
Released to profit (21 )
Balance at 31 March 2023 61

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary £1 1 1

9. RESERVES
Retained
earnings
£   

At 1 April 2022 1
Profit for the year 5,314
Dividends (4,700 )
At 31 March 2023 615

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Barry Mark Shafar.