Registered number
04362990
Shanakee Limited
Filleted Accounts
31 January 2024
Shanakee Limited
Registered number: 04362990
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 173,938 174,802
Investments 4 1,002 331,002
174,940 505,804
Current assets
Stocks 17,500 17,798
Debtors 5 40,623 -
Cash at bank and in hand 123,543 253,507
181,666 271,305
Creditors: amounts falling due within one year 6 (77,226) (211,049)
Net current assets 104,440 60,256
Net assets 279,380 566,060
Capital and reserves
Called up share capital 501 1,000
Profit and loss account 278,879 565,060
Shareholder's funds 279,380 566,060
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 member has 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.
William Joyce
Director
Approved by the board on 10 October 2024
Shanakee Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
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:
Plant and machinery 18% on reducing balance method
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Dubmay Ltd is 100% owned by Shanakee Ltd
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 9 9
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 February 2023 170,000 72,144 242,144
At 31 January 2024 170,000 72,144 242,144
Depreciation
At 1 February 2023 - 67,342 67,342
Charge for the year - 864 864
At 31 January 2024 - 68,206 68,206
Net book value
At 31 January 2024 170,000 3,938 173,938
At 31 January 2023 170,000 4,802 174,802
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 February 2023 1,002
At 31 January 2024 1,002
5 Debtors 2024 2023
£ £
Other debtors 40,623 -
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 20,432 33,731
Directors Current Account 17,430 46,431
VAT 19,146 15,096
Corporation tax 12,720 1,598
Other taxes and social security costs 4,498 6,316
Accrued Expenses 3,000 3,500
Other creditors - 104,377
77,226 211,049
7 Other information
Shanakee Limited is a private company limited by shares and incorporated in England. Its registered office is:
9 - 10 Central Buildings
The Broadway
Ealing
London
W5 2NT
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