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SH CARS LTD

Registered Number
10532560
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

SH CARS LTD
Company Information
for the year from 1 January 2023 to 31 December 2023

Director

HUSSAIN, Olfat

Registered Address

Wolfe Mead
Farnham Road
Bordon
GU35 0NH

Registered Number

10532560 (England and Wales)
SH CARS LTD
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Current assets
Stocks3145,999111,576
Debtors42,325-
Cash at bank and on hand81,99320,647
230,317132,223
Creditors amounts falling due within one year5(109,937)(59,749)
Net current assets (liabilities)120,38072,474
Total assets less current liabilities120,38072,474
Creditors amounts falling due after one year6(34,551)(39,936)
Net assets85,82932,538
Capital and reserves
Called up share capital11
Profit and loss account85,82832,537
Shareholders' funds85,82932,538
The financial statements were approved and authorised for issue by the Director on 18 September 2024, and are signed on its behalf by:
HUSSAIN, Olfat
Director
Registered Company No. 10532560
SH CARS LTD
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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).
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20232022
Average number of employees during the year22
3.Stocks

2023

2022

££
Other stocks145,999111,576
Total145,999111,576
4.Debtors: amounts due within one year

2023

2022

££
Other debtors2,325-
Total2,325-
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables65,250-
Bank borrowings and overdrafts27,87450,391
Taxation and social security15,5638,398
Accrued liabilities and deferred income1,250960
Total109,93759,749
6.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts34,55139,936
Total34,55139,936