Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-317computer consultancy2023-04-01false7truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04636868 2023-04-01 2024-03-31 04636868 2022-04-01 2023-03-31 04636868 2024-03-31 04636868 2023-03-31 04636868 2022-04-01 04636868 c:PriorPeriodIncreaseDecrease 2023-04-01 2024-03-31 04636868 2 2022-04-01 2023-03-31 04636868 e:Director1 2023-04-01 2024-03-31 04636868 c:PlantMachinery 2023-04-01 2024-03-31 04636868 c:PlantMachinery 2024-03-31 04636868 c:PlantMachinery 2023-03-31 04636868 c:PlantMachinery c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 04636868 c:FurnitureFittings 2023-04-01 2024-03-31 04636868 c:FurnitureFittings 2024-03-31 04636868 c:FurnitureFittings 2023-03-31 04636868 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 04636868 c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 04636868 c:PatentsTrademarksLicencesConcessionsSimilar 2024-03-31 04636868 c:PatentsTrademarksLicencesConcessionsSimilar 2023-03-31 04636868 c:CurrentFinancialInstruments 2024-03-31 04636868 c:CurrentFinancialInstruments 2023-03-31 04636868 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 04636868 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 04636868 c:ShareCapital 2024-03-31 04636868 c:ShareCapital 2023-03-31 04636868 c:ShareCapital 2022-04-01 04636868 c:OtherMiscellaneousReserve 2023-04-01 2024-03-31 04636868 c:OtherMiscellaneousReserve 2024-03-31 04636868 c:OtherMiscellaneousReserve c:PriorPeriodIncreaseDecrease 2023-04-01 2024-03-31 04636868 c:OtherMiscellaneousReserve 2023-03-31 04636868 c:OtherMiscellaneousReserve 2022-04-01 04636868 c:OtherMiscellaneousReserve 2 2022-04-01 2023-03-31 04636868 c:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 04636868 c:RetainedEarningsAccumulatedLosses 2024-03-31 04636868 c:RetainedEarningsAccumulatedLosses c:PriorPeriodIncreaseDecrease 2023-04-01 2024-03-31 04636868 c:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 04636868 c:RetainedEarningsAccumulatedLosses 2023-03-31 04636868 c:RetainedEarningsAccumulatedLosses 2022-04-01 04636868 c:RetainedEarningsAccumulatedLosses 2 2022-04-01 2023-03-31 04636868 e:FRS102 2023-04-01 2024-03-31 04636868 e:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 04636868 e:FullAccounts 2023-04-01 2024-03-31 04636868 e:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04636868 c:ShareCapital 2 2022-04-01 2023-03-31 04636868 c:PatentsTrademarksLicencesConcessionsSimilar c:OwnedIntangibleAssets 2023-04-01 2024-03-31 04636868 f:PoundSterling 2023-04-01 2024-03-31 04636868 c:ShareCapital c:PriorPeriodErrorIncreaseDecrease 2023-04-01 2024-03-31 04636868 c:RetainedEarningsAccumulatedLosses c:PreviouslyStatedAmount 2023-03-31 04636868 c:PreviouslyStatedAmount 2023-03-31 iso4217:GBP xbrli:pure
Registered number: 04636868






SHABASH LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










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SHABASH LIMITED
REGISTERED NUMBER:04636868

BALANCE SHEET
AS AT 31 MARCH 2024

As restated
2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
4,000
8,000

Tangible assets
 5 
325
1,040

  
4,325
9,040

Current assets
  

Debtors: amounts falling due within one year
 6 
4,632
4,736

Cash at bank and in hand
 7 
37,882
56,102

  
42,514
60,838

Creditors: amounts falling due within one year
 8 
(475,286)
(480,009)

Net current liabilities
  
 
 
(432,772)
 
 
(419,171)

Total assets less current liabilities
  
(428,447)
(410,131)

  

Net liabilities
  
(428,447)
(410,131)


Capital and reserves
  

Called up share capital 
  
100
100

Other reserves
  
228,000
228,000

Profit and loss account
  
(656,547)
(638,231)

  
(428,447)
(410,131)


Page 1

 
SHABASH LIMITED
REGISTERED NUMBER:04636868
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

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

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M J Clutterbuck
Director

Date: 22 November 2024

Page 2

 
SHABASH LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024


Called up share capital
Other reserves
Profit and loss account
Total equity

£
£
£
£


At 1 April 2022
100
200,000
(608,966)
(408,866)


Comprehensive income for the year

Loss for the year
-
-
(29,265)
(29,265)


Contributions by and distributions to owners

Capital contribution
-
28,000
-
28,000



At 1 April 2023 (as previously stated)
100
228,000
(612,031)
(383,931)

Prior year adjustment
-
-
(26,200)
(26,200)


At 1 April 2023 (as restated)
100
228,000
(638,231)
(410,131)


Comprehensive income for the year

Loss for the year
-
-
(18,316)
(18,316)


At 31 March 2024
100
228,000
(656,547)
(428,447)


Page 3

 
SHABASH LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Shabash Limited is a private company limited by shares, incorporated in England and Wales. Its registered office is Millhouse, 32-38 East Street, Rochford, Essex SS4 1DB.
The principal activity continued to be that of computer consultancy.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis, despite the net liabilities, due to the ongoing support of the directors.  

 
2.3

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 4

 
SHABASH LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
SHABASH LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line and reducing balance method.

Depreciation is provided on the following basis:

Plant & machinery
-
33% on cost
Fixtures & fittings
-
25% on reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

 
SHABASH LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.12

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2023 -7).

Page 7

 
SHABASH LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Intangible assets




Patents

£



Cost


At 1 April 2023
40,000



At 31 March 2024

40,000



Amortisation


At 1 April 2023
32,000


Charge for the year on owned assets
4,000



At 31 March 2024

36,000



Net book value



At 31 March 2024
4,000



At 31 March 2023
8,000



Page 8

 
SHABASH LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Plant & machinery
Fixtures & fittings
Total

£
£
£



Cost or valuation


At 1 April 2023
8,277
1,039
9,316



At 31 March 2024

8,277
1,039
9,316



Depreciation


At 1 April 2023
7,284
992
8,276


Charge for the year on owned assets
704
11
715



At 31 March 2024

7,988
1,003
8,991



Net book value



At 31 March 2024
289
36
325



At 31 March 2023
993
47
1,040

Page 9

 
SHABASH LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Debtors

2024
2023
£
£


Trade debtors
1,491
1,882

Prepayments and accrued income
3,141
2,854

4,632
4,736



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
37,882
56,102

37,882
56,102



8.


Creditors: Amounts falling due within one year

As restated
2024
2023
£
£

Other loans
406,291
412,291

Trade creditors
2,658
790

Taxation and social security
13,767
13,667

Other creditors
25,911
25,017

Accruals and deferred income
26,659
28,244

475,286
480,009



9.


Reserves

Other reserves

Other reserves consist of a capital contribution reserve, relating to capital contributions made to the company by shareholders.


10.


Prior year adjustment

The financial statements have been restated as at 31 March 2023 to reflect deferred income of £26,200. 

Page 10

 
SHABASH LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

11.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £4,590 (2023: £4,594). Contributions totalling £1,630 (2023: £1,434) were payable to the fund at the balance sheet date and are included in creditors


12.


Related party transactions

At the balance sheet date the company owed a total of £373,291 (2023: £379,291) in interest-free unsecured loans to directors and their family members.

Page 11