IRIS Accounts Production v23.4.0.336 04859470 Board of Directors 28.3.22 26.3.23 26.3.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh048594702022-03-27048594702023-03-26048594702022-03-282023-03-26048594702021-03-27048594702021-03-282022-03-27048594702022-03-2704859470ns15:EnglandWales2022-03-282023-03-2604859470ns14:PoundSterling2022-03-282023-03-2604859470ns10:Director12022-03-282023-03-2604859470ns10:PrivateLimitedCompanyLtd2022-03-282023-03-2604859470ns10:SmallEntities2022-03-282023-03-2604859470ns10:AuditExempt-NoAccountantsReport2022-03-282023-03-2604859470ns10:SmallCompaniesRegimeForDirectorsReport2022-03-282023-03-2604859470ns10:SmallCompaniesRegimeForAccounts2022-03-282023-03-2604859470ns10:FullAccounts2022-03-282023-03-2604859470ns10:Director22022-03-282023-03-2604859470ns10:RegisteredOffice2022-03-282023-03-2604859470ns5:CurrentFinancialInstruments2023-03-2604859470ns5:CurrentFinancialInstruments2022-03-2704859470ns5:Non-currentFinancialInstruments2023-03-2604859470ns5:Non-currentFinancialInstruments2022-03-2704859470ns5:ShareCapital2023-03-2604859470ns5:ShareCapital2022-03-2704859470ns5:RetainedEarningsAccumulatedLosses2023-03-2604859470ns5:RetainedEarningsAccumulatedLosses2022-03-2704859470ns5:ShortLeaseholdAssetsns5:LandBuildings2022-03-282023-03-2604859470ns5:PlantMachinery2022-03-282023-03-2604859470ns5:FurnitureFittings2022-03-282023-03-2604859470ns5:ShortLeaseholdAssetsns5:LandBuildings2022-03-2704859470ns5:PlantMachinery2022-03-2704859470ns5:FurnitureFittings2022-03-2704859470ns5:ShortLeaseholdAssetsns5:LandBuildings2023-03-2604859470ns5:PlantMachinery2023-03-2604859470ns5:FurnitureFittings2023-03-2604859470ns5:ShortLeaseholdAssetsns5:LandBuildings2022-03-2704859470ns5:PlantMachinery2022-03-2704859470ns5:FurnitureFittings2022-03-2704859470ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-2604859470ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-03-27
REGISTERED NUMBER: 04859470 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 28 MARCH 2022 TO 26 MARCH 2023

FOR

THE QUEEN OF SHEBA LIMITED

THE QUEEN OF SHEBA LIMITED (REGISTERED NUMBER: 04859470)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 28 MARCH 2022 TO 26 MARCH 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


THE QUEEN OF SHEBA LIMITED

COMPANY INFORMATION
FOR THE PERIOD 28 MARCH 2022 TO 26 MARCH 2023







DIRECTORS: Ms S Gebru
Mrs A Gebre Egziabher





REGISTERED OFFICE: 869 High Road
London
N12 8QA





REGISTERED NUMBER: 04859470 (England and Wales)






THE QUEEN OF SHEBA LIMITED (REGISTERED NUMBER: 04859470)

STATEMENT OF FINANCIAL POSITION
26 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,124 2,472

CURRENT ASSETS
Stocks 5,637 5,908
Debtors 5 102,685 55,311
Cash at bank and in hand 1,121 349
109,443 61,568
CREDITORS
Amounts falling due within one year 6 141,270 87,007
NET CURRENT LIABILITIES (31,827 ) (25,439 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(29,703

)

(22,967

)

CREDITORS
Amounts falling due after more than one year 7 22,384 32,094
NET LIABILITIES (52,087 ) (55,061 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (52,187 ) (55,161 )
SHAREHOLDERS' FUNDS (52,087 ) (55,061 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 26 March 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 26 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 10 April 2024 and were signed on its behalf by:




Ms S Gebru - Director


THE QUEEN OF SHEBA LIMITED (REGISTERED NUMBER: 04859470)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 28 MARCH 2022 TO 26 MARCH 2023

1. STATUTORY INFORMATION

The Queen of Sheba Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The financial statements have been prepared on a going concern basis as the director is satisfied that the company will have adequate resources to meet its liabilities to third parties as they fall due.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Over the life of the lease
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

TAXATION
Taxation for the period 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 statement of financial position date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

THE QUEEN OF SHEBA LIMITED (REGISTERED NUMBER: 04859470)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 28 MARCH 2022 TO 26 MARCH 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 7 (2022 - NIL ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings Totals
£    £    £    £   
COST
At 28 March 2022 25,000 9,421 21,603 56,024
Additions - 360 - 360
At 26 March 2023 25,000 9,781 21,603 56,384
DEPRECIATION
At 28 March 2022 25,000 7,687 20,865 53,552
Charge for period - 523 185 708
At 26 March 2023 25,000 8,210 21,050 54,260
NET BOOK VALUE
At 26 March 2023 - 1,571 553 2,124
At 27 March 2022 - 1,734 738 2,472

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 102,685 55,311

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 14,553
Trade creditors 3,381 4,578
Taxation and social security 89,283 44,659
Other creditors 38,606 23,217
141,270 87,007

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 22,384 32,094

8. RELATED PARTY DISCLOSURES

Included in debtors falling due within one year is a balance of £75,151 (2022: £40,525) due by Ms S Gebru, a director of the company. Interest at official rate amounting to £1,185 (2022: £583) has been charged by the company during the year.