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Registered Number: 06602935
England and Wales

 

 

 

SHIVENTURES LIMITED


Abridged Accounts
 


Period of accounts

Start date: 28 February 2023

End date: 27 February 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 25,200    31,500 
25,200    31,500 
Current assets      
Debtors 87,934    87,934 
Cash at bank and in hand 1,492    1,492 
89,426    89,426 
Creditors: amount falling due within one year (499,927)   (499,927)
Net current assets (410,501)   (410,501)
 
Total assets less current liabilities (385,301)   (379,001)
Provisions for liabilities (3,590)   (3,590)
Net assets (388,891)   (382,591)
 

Capital and reserves
     
Called up share capital 4 1,000    1,000 
Profit and loss account (389,891)   (383,591)
Shareholders' funds (388,891)   (382,591)
 


For the year ended 27 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006 the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 28 November 2024 and were signed by:


-------------------------------
Jaipreet Singh BRAR
Director
1
General Information
Shiventures Limited is a private company, limited by shares, registered in England and Wales, registration number 06602935, registration address 118 Main Road, Rugeley, Staffordshire, WS15 1DY.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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)
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Reducing Balance
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Factored debts
The company includes factored debts within trade debtors since most of the risks and rewards of ownership of the factored debts have not passed to the factors. A corresponding liability is included in liabilities in respect of the proceeds received from the factor.
Current asset investments
Current asset investments are stated at the lower of cost and net realisable value.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Preference shares
The company's preference shares are treated as a financial liability since they are subject to mandatory redemption for a fixed or determinable amount at a fixed or determinable time and are thus included in creditors in the statement of financial position rather than as part of the company's issued share capital.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
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.
2.

Average number of employees


Average number of employees during the year was 0 (2023 : 0).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Total
  £   £
At 28 February 2023 292,867    292,867 
Additions  
Disposals  
At 27 February 2024 292,867    292,867 
Depreciation
At 28 February 2023 261,367    261,367 
Charge for year 6,300    6,300 
On disposals  
At 27 February 2024 267,667    267,667 
Net book values
Closing balance as at 27 February 2024 25,200    25,200 
Opening balance as at 28 February 2023 31,500    31,500 


4.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
1,000 Class A shares of £1.00 each 1,000    1,000 
1,000    1,000 

2