Registered number
03437416
Shintown Ltd
Report and Accounts
30 September 2023
Shintown Ltd
Registered number: 03437416
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 670 837
Current assets
Stocks 416,244 413,244
Debtors 4 - 10,000
Cash at bank and in hand (9,653) (8,600)
406,591 414,644
Creditors: amounts falling due within one year 5 (85,679) (53,750)
Net current assets 320,912 360,894
Total assets less current liabilities 321,582 361,731
Creditors: amounts falling due after more than one year 6 (351,521) (361,240)
Net (liabilities)/assets (29,939) 491
Capital and reserves
Share premium 100 100
Profit and loss account (30,039) 391
Shareholders' funds (29,939) 491
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Saeed Chalabi
Director
Approved by the board on 4 March 2024
Shintown Ltd
Notes to the Accounts
for the year ended 30 September 2023
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery 20% reduction on reducing balance
Fixtures, fittings, tools and equipment 20% reduction on reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2022 5,320
At 30 September 2023 5,320
Depreciation
At 1 October 2022 4,483
Charge for the year 167
At 30 September 2023 4,650
Net book value
At 30 September 2023 670
At 30 September 2022 837
4 Debtors 2023 2022
£ £
Other debtors - 10,000
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 11,265 11,265
Corporation tax - 860
Other taxes and social security costs 3,769 5,111
Other creditors 70,645 36,514
85,679 53,750
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 26,726 39,495
Other creditors 324,795 321,745
351,521 361,240
7 Other information
Shintown Ltd is a private company limited by shares and incorporated in England. Its registered office is:
7 WESTMORELAND HOUSE
CUMBERLAND PARK
LONDON
NW10 6RE
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