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Company Registration No. 11057995 (England and Wales)
Shree Omkar Limited Unaudited accounts for the year ended 30 November 2023
Shree Omkar Limited Unaudited accounts Contents
Page
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Shree Omkar Limited Company Information for the year ended 30 November 2023
Directors
Dilipkumar Shah Shushma Shah
Company Number
11057995 (England and Wales)
Registered Office
786 London Road Thornton Heath Surrey CR7 6JB England
Accountants
P10 Accountancy Ltd 77A Richmond Road Twickenham TW1 3AW
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Shree Omkar Limited Statement of financial position as at 30 November 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
- 
645 
Current assets
Inventories
4,422,562 
1,665,868 
Debtors
7,728 
18,863 
Cash at bank and in hand
1,523 
11,770 
4,431,813 
1,696,501 
Creditors: amounts falling due within one year
(4,452,596)
(1,705,760)
Net current liabilities
(20,783)
(9,259)
Net liabilities
(20,783)
(8,614)
Capital and reserves
Called up share capital
1,000 
1,000 
Profit and loss account
(21,783)
(9,614)
Shareholders' funds
(20,783)
(8,614)
For the year ending 30 November 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 of Directors and authorised for issue on 25 November 2024 and were signed on its behalf by
Dilipkumar Shah Director Company Registration No. 11057995
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Shree Omkar Limited Notes to the Accounts for the year ended 30 November 2023
1
Statutory information
Shree Omkar Limited is a private company, limited by shares, registered in England and Wales, registration number 11057995. The registered office is 786 London Road, Thornton Heath, Surrey, CR7 6JB, England.
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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 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:
Stock & work-in-progress
Stock and work-in-progress has been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Cash & cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
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Shree Omkar Limited Notes to the Accounts for the year ended 30 November 2023
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 December 2022
2,580 
At 30 November 2023
2,580 
Depreciation
At 1 December 2022
1,935 
Charge for the year
645 
At 30 November 2023
2,580 
Net book value
At 30 November 2023
- 
At 30 November 2022
645 
5
Inventories
2023 
2022 
£ 
£ 
Work in progress
4,422,562 
1,665,868 
4,422,562 
1,665,868 
Inventories include the property currently under development, which is valued at its accumulative costs to date.
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
7,728 
1,523 
Accrued income and prepayments
- 
17,340 
7,728 
18,863 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
2,214,216 
74,480 
Trade creditors
327,602 
- 
Other creditors
643,710 
408,597 
Loans from directors
1,260,663 
1,219,503 
Accruals
6,405 
3,180 
4,452,596 
1,705,760 
Creditors includes a bank loan of £2,214,216 at the year end, for purpose of the company's trading activity, for which a fixed and floating charge is given over all of the company's properties or undertakings.
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000 
1,000 
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Shree Omkar Limited Notes to the Accounts for the year ended 30 November 2023
9
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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