Company registration number SC694130 (Scotland)
SHAVO HOLDINGS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
SHAVO HOLDINGS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
SHAVO HOLDINGS LTD
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
3
1,000
1,000
Current assets
Debtors
4
4,477,559
3,295,349
Cash at bank and in hand
36
100
4,477,595
3,295,449
Creditors: amounts falling due within one year
5
(4,487,441)
(3,302,137)
Net current liabilities
(9,846)
(6,688)
Net liabilities
(8,846)
(5,688)
Capital and reserves
Called up share capital
1,100
1,100
Profit and loss reserves
(9,946)
(6,788)
Total equity
(8,846)
(5,688)

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

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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 25 September 2024 and are signed on its behalf by:
Mr S Fahy
Director
Company registration number SC694130 (Scotland)
SHAVO HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Shavo Holdings Ltd is a private company limited by shares incorporated in Scotland. The registered office is 10-12 Albert Drive, Glasgow, G41 2PE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.3
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.4
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

SHAVO HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
3
2
3
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
1,000
1,000
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
4,477,559
3,295,349
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,770
2,112
Other creditors
4,485,671
3,300,025
4,487,441
3,302,137
6
Directors' transactions

The directors consider that there are no transactions to disclose.    

7
Going concern

As at the year end date, the liabilities exceeded the company assets. The accounts have been prepared on a going concern basis as there is continued support from the shareholders and other companies within the group.

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