Caseware UK (AP4) 2023.0.135 2023.0.135 2024-10-312024-10-31trueNo description of principal activity2023-11-01false22falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC387437 2023-11-01 2024-10-31 SC387437 2022-11-01 2023-10-31 SC387437 2024-10-31 SC387437 2023-10-31 SC387437 c:CompanySecretary1 2023-11-01 2024-10-31 SC387437 c:Director1 2023-11-01 2024-10-31 SC387437 c:Director2 2023-11-01 2024-10-31 SC387437 c:RegisteredOffice 2023-11-01 2024-10-31 SC387437 d:OfficeEquipment 2023-11-01 2024-10-31 SC387437 d:OfficeEquipment 2024-10-31 SC387437 d:OfficeEquipment 2023-10-31 SC387437 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 SC387437 d:CurrentFinancialInstruments 2024-10-31 SC387437 d:CurrentFinancialInstruments 2023-10-31 SC387437 d:CurrentFinancialInstruments d:WithinOneYear 2024-10-31 SC387437 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 SC387437 d:ShareCapital 2024-10-31 SC387437 d:ShareCapital 2023-10-31 SC387437 d:RetainedEarningsAccumulatedLosses 2024-10-31 SC387437 d:RetainedEarningsAccumulatedLosses 2023-10-31 SC387437 c:OrdinaryShareClass2 2023-11-01 2024-10-31 SC387437 c:OrdinaryShareClass2 2024-10-31 SC387437 c:OrdinaryShareClass2 2023-10-31 SC387437 c:OrdinaryShareClass3 2023-11-01 2024-10-31 SC387437 c:OrdinaryShareClass3 2024-10-31 SC387437 c:EntityHasNeverTraded 2023-11-01 2024-10-31 SC387437 c:FRS102 2023-11-01 2024-10-31 SC387437 c:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 SC387437 c:FullAccounts 2023-11-01 2024-10-31 SC387437 c:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 SC387437 e:PoundSterling 2023-11-01 2024-10-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC387437










SHANGRAK LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

 
SHANGRAK LIMITED
 

COMPANY INFORMATION


Directors
Mr A I Peterson 
Mrs E H Peterson 




Company secretary
Mr A I Peterson



Registered number
SC387437



Registered office
38 Back Road

Dollar

FK14 7EA




Accountants
EQ Accountants Limited
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
SHANGRAK LIMITED
REGISTERED NUMBER:SC387437

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2024

2024
2023
£
£

Fixed assets
  

Tangible assets
 4 
3,884
2,330

  
3,884
2,330

Current assets
  

Debtors: amounts falling due within one year
 5 
195
5,514

Cash at bank and in hand
  
142,585
174,211

  
142,780
179,725

Creditors: amounts falling due within one year
 6 
(11,881)
(2,090)

Net current assets
  
 
 
130,899
 
 
177,635

Total assets less current liabilities
  
134,783
179,965

Provisions for liabilities
  

Deferred tax
  
(147)
(442)

  
 
 
(147)
 
 
(442)

Net assets
  
134,636
179,523


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
134,536
179,423

  
134,636
179,523


Page 1

 
SHANGRAK LIMITED
REGISTERED NUMBER:SC387437

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 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 income and retained earnings 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: 




Mr A I Peterson
Mrs E H Peterson
Director
Director


Date: 20 January 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
SHANGRAK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

The Company is limited by shares and incorporated in Scotland; Registration Number SC387437. The registered office address is 38 Back Road, Dollar, FK14 7EA.
The financial statements are presented in Sterling which is the functional currency of the company and rounded to the nearest £.

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

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 income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
SHANGRAK LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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.

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.5

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 4

 
SHANGRAK LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)


2.5
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 method.

Depreciation is provided on the following basis:

Office equipment
-
33.33%  & 50% straight line

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.

 
2.6

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.

Financial instruments are recognised in the Company's Statement of financial position 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.

 
2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
SHANGRAK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 November 2023
13,751


Additions
3,761


Disposals
(833)



At 31 October 2024

16,679



Depreciation


At 1 November 2023
11,421


Charge for the year on owned assets
2,083


Disposals
(709)



At 31 October 2024

12,795



Net book value



At 31 October 2024
3,884



At 31 October 2023
2,330

Page 6

 
SHANGRAK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

5.


Debtors

2024
2023
£
£


Other debtors
195
5,514

195
5,514





6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other creditors
9,897
19

Accruals and deferred income
1,984
2,071

11,881
2,090



7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



50 (2023 - 50) Ordinary A shares of £1.00 each
50
50
50 (2022 - 50) Ordinary B shares of £1.00 each
50
50

100

100



Page 7