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Registration number: 13061426

Heba Shaikh Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Heba Shaikh Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Heba Shaikh Ltd

Company Information

Director

H Shaikh

Registered office

74-75 Shelton Street
Covent Garden
London
WC2H 9JQ

Accountants

ENF Solutions Limited
Chartered Certified Accountant
181A Middlewood Road
Sheffield
S6 4HD

 

Heba Shaikh Ltd

(Registration number: 13061426)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

2,970

4,247

Tangible assets

5

3,754

5,592

 

6,724

9,839

Current assets

 

Stocks

6

26,755

28,503

Debtors

7

206

5,560

Cash at bank and in hand

 

983

18,034

 

27,944

52,097

Creditors: Amounts falling due within one year

8

(178,161)

(133,364)

Net current liabilities

 

(150,217)

(81,267)

Total assets less current liabilities

 

(143,493)

(71,428)

Creditors: Amounts falling due after more than one year

8

(50,000)

(50,000)

Net liabilities

 

(193,493)

(121,428)

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

(193,593)

(121,528)

Shareholders' deficit

 

(193,493)

(121,428)

 

Heba Shaikh Ltd

(Registration number: 13061426)
Balance Sheet as at 31 December 2023 (continued)

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 10 July 2024
 

.........................................
H Shaikh
Director

 

Heba Shaikh Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
74-75 Shelton Street
Covent Garden
London
WC2H 9JQ

These financial statements were authorised for issue by the director on 10 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Heba Shaikh Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Website

25% straight line

Office Equipment

20% straight line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Branding

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Heba Shaikh Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 1).

 

Heba Shaikh Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

4

Intangible assets

Branding
£

Total
£

Cost or valuation

At 1 January 2023

6,845

6,845

Additions acquired separately

200

200

At 31 December 2023

7,045

7,045

Amortisation

At 1 January 2023

2,598

2,598

Amortisation charge

1,477

1,477

At 31 December 2023

4,075

4,075

Carrying amount

At 31 December 2023

2,970

2,970

At 31 December 2022

4,247

4,247

5

Tangible assets

Website
£

Office equipment
£

Total
£

Cost or valuation

At 1 January 2023

7,612

1,017

8,629

Additions

-

336

336

At 31 December 2023

7,612

1,353

8,965

Depreciation

At 1 January 2023

2,730

307

3,037

Charge for the year

1,903

271

2,174

At 31 December 2023

4,633

578

5,211

Carrying amount

At 31 December 2023

2,979

775

3,754

At 31 December 2022

4,882

710

5,592

 

Heba Shaikh Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

6

Stocks

2023
£

2022
£

Other inventories

26,755

28,503

7

Debtors

2023
£

2022
£

Prepayments

-

2,039

Other debtors

206

3,521

206

5,560

 

Heba Shaikh Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

912

798

Other creditors

177,249

132,566

178,161

133,364

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

50,000

50,000

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100