Registered number
10043200
EE SMANI LIMITED
Filleted Accounts
31 December 2023
EE SMANI LIMITED
Registered number: 10043200
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,394,732 1,300,000
Current assets
Debtors 4 - 94,732
Cash at bank and in hand 7,031 8,508
7,031 103,240
Creditors: amounts falling due within one year 5 (461,268) (498,203)
Net current liabilities (454,237) (394,963)
Total assets less current liabilities 940,495 905,037
Creditors: amounts falling due after more than one year 6 (801,996) (799,183)
Provisions for liabilities (2,511) (2,511)
Net assets 135,988 103,343
Capital and reserves
Called up share capital 100 100
Revaluation reserve 8 21,794 21,794
Profit and loss account 114,094 81,449
Shareholders' funds 135,988 103,343
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Kuldip Kaur Lachhar
Director
Approved by the board on 7 August 2024
EE SMANI LIMITED
Notes to the Accounts
for the period from 1 October 2022 to 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings Nil
Investments
Investment property is revalued annually for the fair value and the surplus or deficit is transferred
to the profit and loss account. No depreciation is provided in respect of investment property.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 October 2022 1,300,000
Additions 94,732
At 31 December 2023 1,394,732
Depreciation
At 31 December 2023 -
Net book value
At 31 December 2023 1,394,732
At 30 September 2022 1,300,000
4 Debtors 2023 2022
£ £
Other debtors - 94,732
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 8,812 12,520
Trade creditors - 4,320
Taxation and social security costs 13,691 15,316
Other creditors 438,765 466,047
461,268 498,203
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 801,996 799,183
7 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 802,007 799,183
The bank Loan are secured by Charge over the freehold properties and bank also holds a fixed and floating charge on the company’s Assets. Additionally the bank holds directors personal guarantee for these loans.
8 Revaluation reserve 2023 2022
£ £
At 1 October 2022 21,794 21,794
At 31 December 2023 21,794 21,794
9 Other information
EE SMANI LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
25 Angle Close
Uxbridge
Middlesex
UB10 0BS
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