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Company Registration No. 11213496 (England and Wales)
SHIFAA NEWS LIMITED Unaudited accounts for the year ended 29 February 2024
SHIFAA NEWS LIMITED Unaudited accounts Contents
Page
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SHIFAA NEWS LIMITED Company Information for the year ended 29 February 2024
Director
Mrs Ruksana Vaid
Company Number
11213496 (England and Wales)
Registered Office
35 Woodgrange Road Forest Gate London E7 8BA United Kingdom
Accountants
LS ACCOUNTANTS SERVICES LTD 1st Floor, Office Suite 4-316e Ilford Lane Ilford Essex IG1 2LT
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SHIFAA NEWS LIMITED Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
59,560 
73,530 
Current assets
Inventories
10,560 
10,239 
Cash at bank and in hand
3,600 
9,734 
14,160 
19,973 
Creditors: amounts falling due within one year
(170,542)
(152,913)
Net current liabilities
(156,382)
(132,940)
Total assets less current liabilities
(96,822)
(59,410)
Creditors: amounts falling due after more than one year
(12,500)
(22,500)
Net liabilities
(109,322)
(81,910)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
(109,323)
(81,911)
Shareholders' funds
(109,322)
(81,910)
For the year ending 29 February 2024 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 October 2024 and were signed on its behalf by
Mrs Ruksana Vaid Director Company Registration No. 11213496
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SHIFAA NEWS LIMITED Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
SHIFAA NEWS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11213496. The registered office is 35 Woodgrange Road, Forest Gate, London, E7 8BA, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
- 19% reducing balance
Motor vehicles
- 19% reducing balance
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 March 2023
150,650 
14,394 
165,044 
At 29 February 2024
150,650 
14,394 
165,044 
Depreciation
At 1 March 2023
85,801 
5,713 
91,514 
Charge for the year
12,321 
1,649 
13,970 
At 29 February 2024
98,122 
7,362 
105,484 
Net book value
At 29 February 2024
52,528 
7,032 
59,560 
At 28 February 2023
64,849 
8,681 
73,530 
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SHIFAA NEWS LIMITED Notes to the Accounts for the year ended 29 February 2024
5
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
10,000 
10,000 
Taxes and social security
18,662 
17,026 
Other creditors
14,028 
- 
Loans from directors
126,652 
124,687 
Accruals
1,200 
1,200 
170,542 
152,913 
6
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
12,500 
22,500 
7
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
8
Average number of employees
During the year the average number of employees was 3 (2023: 3).
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