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REGISTERED NUMBER: 04326204 (England and Wales)










SHAH & CO (ACCOUNTANTS) LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST OCTOBER 2023






SHAH & CO (ACCOUNTANTS) LTD (REGISTERED NUMBER: 04326204)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SHAH & CO (ACCOUNTANTS) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST OCTOBER 2023







DIRECTORS: Mr H K Shah
Mrs S H Shah





SECRETARY: Mrs S H Shah





REGISTERED OFFICE: Cash's Business Centre
1st Floor
228 Widdrington Road
Coventry
West Midlands
CV1 4PB





REGISTERED NUMBER: 04326204 (England and Wales)





ACCOUNTANTS: Shah & Co (Accountants) Ltd
Chartered Certified Accountants
Cash's Business Centre
1st Floor
228 Widdrington Road
Coventry
West Midlands
CV1 4PB

SHAH & CO (ACCOUNTANTS) LTD (REGISTERED NUMBER: 04326204)

BALANCE SHEET
31ST OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 173,500 211,750
Tangible assets 5 192,105 870,352
365,605 1,082,102

CURRENT ASSETS
Stocks 62,319 57,486
Debtors 6 346,736 341,873
Cash at bank and in hand 355,688 566,633
764,743 965,992
CREDITORS
Amounts falling due within one year 7 392,280 335,768
NET CURRENT ASSETS 372,463 630,224
TOTAL ASSETS LESS CURRENT
LIABILITIES

738,068

1,712,326

CREDITORS
Amounts falling due after more than one
year

8

(110,579

)

(533,298

)

PROVISIONS FOR LIABILITIES (32,089 ) (30,280 )
NET ASSETS 595,400 1,148,748

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 585,400 1,138,748
SHAREHOLDERS' FUNDS 595,400 1,148,748

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

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

SHAH & CO (ACCOUNTANTS) LTD (REGISTERED NUMBER: 04326204)

BALANCE SHEET - continued
31ST 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 Board of Directors and authorised for issue on 31st July 2024 and were signed on its behalf by:





Mr H K Shah - Director


SHAH & CO (ACCOUNTANTS) LTD (REGISTERED NUMBER: 04326204)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2023

1. STATUTORY INFORMATION

Shah & Co (Accountants) Ltd 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.

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 2002, is being amortised evenly over its estimated useful life of twenty five years.

Goodwill paid on new acquisition to be written off in five 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 - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Computer equipment - 10% 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.


SHAH & CO (ACCOUNTANTS) LTD (REGISTERED NUMBER: 04326204)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST 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
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 20 (2022 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st November 2022 603,750
Additions 10,000
At 31st October 2023 613,750
AMORTISATION
At 1st November 2022 392,000
Amortisation for year 48,250
At 31st October 2023 440,250
NET BOOK VALUE
At 31st October 2023 173,500
At 31st October 2022 211,750

SHAH & CO (ACCOUNTANTS) LTD (REGISTERED NUMBER: 04326204)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1st November 2022 656,103 41,515 172,622
Additions - - -
Disposals (656,103 ) - -
At 31st October 2023 - 41,515 172,622
DEPRECIATION
At 1st November 2022 - 27,039 122,361
Charge for year - 1,447 5,026
At 31st October 2023 - 28,486 127,387
NET BOOK VALUE
At 31st October 2023 - 13,029 45,235
At 31st October 2022 656,103 14,476 50,261

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st November 2022 110,808 121,156 1,102,204
Additions - 16,129 16,129
Disposals - - (656,103 )
At 31st October 2023 110,808 137,285 462,230
DEPRECIATION
At 1st November 2022 9,234 73,218 231,852
Charge for year 25,393 6,407 38,273
At 31st October 2023 34,627 79,625 270,125
NET BOOK VALUE
At 31st October 2023 76,181 57,660 192,105
At 31st October 2022 101,574 47,938 870,352

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 323,059 331,847
Other debtors 10,877 10,026
333,936 341,873

SHAH & CO (ACCOUNTANTS) LTD (REGISTERED NUMBER: 04326204)

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

6. DEBTORS - continued
2023 2022
£    £   
Amounts falling due after more than one year:
Other debtors 12,800 -

Aggregate amounts 346,736 341,873

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 88,556 110,210
Hire purchase contracts 15,590 15,590
Trade creditors 84,897 41,539
Taxation and social security 192,783 155,035
Other creditors 10,454 13,394
392,280 335,768

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 351,552
Hire purchase contracts 70,494 86,085
Other creditors 40,085 95,661
110,579 533,298

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mr H K Shah.