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COMPANY REGISTRATION NUMBER: 05498521
SHANO & JAS INVESTMENT LTD
Filleted Unaudited Financial Statements
31 July 2023
SHANO & JAS INVESTMENT LTD
Statement of Financial Position
31 July 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
4
327,464
Current assets
Debtors
5
1,093,446
1,088,292
Cash at bank and in hand
337,047
40,118
------------
------------
1,430,493
1,128,410
Creditors: amounts falling due within one year
6
240,725
53,671
------------
------------
Net current assets
1,189,768
1,074,739
------------
------------
Total assets less current liabilities
1,189,768
1,402,203
Creditors: amounts falling due after more than one year
7
899,575
------------
------------
Net assets
1,189,768
502,628
------------
------------
Capital and reserves
Called up share capital
1
1
Profit and loss account
1,189,767
502,627
------------
---------
Shareholders funds
1,189,768
502,628
------------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 July 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
SHANO & JAS INVESTMENT LTD
Statement of Financial Position (continued)
31 July 2023
These financial statements were approved by the board of directors and authorised for issue on 19 April 2024 , and are signed on behalf of the board by:
G S CHADHA
Director
Company registration number: 05498521
SHANO & JAS INVESTMENT LTD
Notes to the Financial Statements
Year ended 31 July 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is MELTON HOUSE 65-67, CLARENDON ROAD, WATFORD, WD17 1DS.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Tangible assets
All assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & fittings
-
20% reducing balance
Freehold Property & Leasehold Property is maintained in good order and condition, therefore Director has decided not to depreciate these Properties.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Tangible assets
Freehold property
Fixtures and fittings
Total
£
£
£
Cost
At 1 August 2022
325,000
29,882
354,882
Disposals
( 325,000)
( 29,882)
( 354,882)
---------
--------
---------
At 31 July 2023
---------
--------
---------
Depreciation
At 1 August 2022
27,418
27,418
Disposals
( 27,418)
( 27,418)
---------
--------
---------
At 31 July 2023
---------
--------
---------
Carrying amount
At 31 July 2023
---------
--------
---------
At 31 July 2022
325,000
2,464
327,464
---------
--------
---------
5. Debtors
2023
2022
£
£
Other debtors
1,093,446
1,088,292
------------
------------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
235,846
49,063
Other creditors
4,879
4,608
---------
--------
240,725
53,671
---------
--------
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
899,575
----
---------
8. Director's advances, credits and guarantees
Directors loan account relates to directors current account.
9. Related party transactions
The company was under the control of G S CHADHA & J K CHADHA throughout the current and previous year. G S CHADHA is the managing director holding 100% share capital.