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REGISTERED NUMBER: 08610598















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Shyam Building Services Ltd

Shyam Building Services Ltd (Registered number: 08610598)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Shyam Building Services Ltd

Company Information
for the Year Ended 31 October 2023







DIRECTOR: N Hirani





REGISTERED OFFICE: 48 Uppingham Avenue
Stanmore
Middlesex
HA7 2JY





REGISTERED NUMBER: 08610598





ACCOUNTANTS: Kallis LLP
Chartered Certified Accountant
22 Westward Way
Harrow
Middlesex
HA3 0SE

Shyam Building Services Ltd (Registered number: 08610598)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,300 4,400
Tangible assets 5 16,534 22,045
19,834 26,445

CURRENT ASSETS
Stocks 15,855 20,615
Debtors 6 24,048 38,347
Cash at bank 365,685 314,071
405,588 373,033
CREDITORS
Amounts falling due within one year 7 155,100 142,420
NET CURRENT ASSETS 250,488 230,613
TOTAL ASSETS LESS CURRENT
LIABILITIES

270,322

257,058

CREDITORS
Amounts falling due after more than one
year

8

17,500

31,834
NET ASSETS 252,822 225,224

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 252,722 225,124
SHAREHOLDERS' FUNDS 252,822 225,224

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

Shyam Building Services Ltd (Registered number: 08610598)

Balance Sheet - continued
31 October 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 4 April 2024 and were signed by:





N Hirani - Director


Shyam Building Services Ltd (Registered number: 08610598)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Shyam Building Services Ltd is a private company, limited by shares , registered in Not specified/Other. 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, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

Goodwill
Purchased goodwill is initially recognised at cost. After recognition purchased goodwill is amortised over its expected useful life and measured at cost less accumulated amortisation.

Goodwill is considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceeds 10 years

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant &equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Shyam Building Services Ltd (Registered number: 08610598)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 11,000
AMORTISATION
At 1 November 2022 6,600
Charge for year 1,100
At 31 October 2023 7,700
NET BOOK VALUE
At 31 October 2023 3,300
At 31 October 2022 4,400

Shyam Building Services Ltd (Registered number: 08610598)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

5. TANGIBLE FIXED ASSETS
Plant Motor
&equipment vehicles Totals
£    £    £   
COST
At 1 November 2022
and 31 October 2023 10,812 51,003 61,815
DEPRECIATION
At 1 November 2022 7,031 32,739 39,770
Charge for year 945 4,566 5,511
At 31 October 2023 7,976 37,305 45,281
NET BOOK VALUE
At 31 October 2023 2,836 13,698 16,534
At 31 October 2022 3,781 18,264 22,045

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 November 2022
and 31 October 2023 51,003
DEPRECIATION
At 1 November 2022 32,739
Charge for year 4,566
At 31 October 2023 37,305
NET BOOK VALUE
At 31 October 2023 13,698
At 31 October 2022 18,264

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 20,532 35,000
VAT 1,763 -
Prepayments 1,753 3,347
24,048 38,347

Shyam Building Services Ltd (Registered number: 08610598)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 4,334 8,786
Trade creditors 91,492 56,584
Tax 32,084 26,854
Social security and other taxes 2,198 2,558
VAT - 1,708
Director current account 9,224 32,767
Accrued expenses 5,768 3,163
155,100 142,420

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 7,500 17,500
Hire purchase contracts - 4,334
17,500 31,834