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Company registration number: 03073558
I K Shah Limited
Unaudited filleted financial statements
30 June 2024
I K Shah Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
I K Shah Limited
Directors and other information
Director Dr I K Shah
Company number 03073558
Registered office 25 Manley Road
Oldham
Lancashire
OL8 1AU
Accountants Accounts Tax Solutions Limited
Paul House
Stockport Road
Timperley
Cheshire
WA15 7UQ
I K Shah Limited
Report to the director on the preparation of the
unaudited statutory financial statements of I K Shah Limited
Year ended 30 June 2024
As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 30 June 2024 which comprise the statement of financial position, statement of changes in equity and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Accounts Tax Solutions Limited
Paul House
Stockport Road
Timperley
Cheshire
WA15 7UQ
20 February 2025
I K Shah Limited
Statement of financial position
30 June 2024
2024 2023
Note £ £ £ £
Current assets
Cash at bank and in hand 55,804 175,595
_______ _______
55,804 175,595
Creditors: amounts falling due
within one year 5 ( 26,037) ( 117,596)
_______ _______
Net current assets 29,767 57,999
_______ _______
Total assets less current liabilities 29,767 57,999
_______ _______
Net assets 29,767 57,999
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 29,765 57,997
_______ _______
Shareholders funds 29,767 57,999
_______ _______
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 20 February 2025 , and are signed on behalf of the board by:
Dr I K Shah
Director
Company registration number: 03073558
I K Shah Limited
Statement of changes in equity
Year ended 30 June 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 July 2022 2 88,677 88,679
Profit/(loss) for the year ( 1,680) ( 1,680)
_______ _______ _______
Total comprehensive income for the year - ( 1,680) ( 1,680)
Dividends paid and payable ( 29,000) ( 29,000)
_______ _______ _______
Total investments by and distributions to owners - ( 29,000) ( 29,000)
_______ _______ _______
At 30 June 2023 and 1 July 2023 2 57,997 57,999
Profit/(loss) for the year 768 768
_______ _______ _______
Total comprehensive income for the year - 768 768
Dividends paid and payable ( 29,000) ( 29,000)
_______ _______ _______
Total investments by and distributions to owners - ( 29,000) ( 29,000)
_______ _______ _______
At 30 June 2024 2 29,765 29,767
_______ _______ _______
I K Shah Limited
Notes to the financial statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and wales. The address of the registered office is 25 Manley Road, Oldham, Lancashire, OL8 1AU.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Creditors: amounts falling due within one year
2024 2023
£ £
Other creditors 26,037 117,596
_______ _______
6. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward Amounts repaid Balance o/standing
£ £ £
Dr I K Shah ( 116,276) 91,625 ( 24,651)
_______ _______ _______
2023
Balance brought forward Amounts repaid Balance o/standing
£ £ £
Dr I K Shah ( 90,286) ( 25,990) ( 116,276)
_______ _______ _______
7. Controlling party
The ultimate controlling party of the company is its Director.