Shant Laboratories Ltd. 03194226 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is manufacture of other non-metallic mineral products not elsewhere classified Digita Accounts Production Advanced 6.30.9574.0 true true 03194226 2023-06-01 2024-05-31 03194226 2024-05-31 03194226 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 03194226 core:Non-currentFinancialInstruments 2024-05-31 03194226 core:Non-currentFinancialInstruments core:AfterOneYear 2024-05-31 03194226 bus:SmallEntities 2023-06-01 2024-05-31 03194226 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 03194226 bus:FilletedAccounts 2023-06-01 2024-05-31 03194226 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 03194226 bus:RegisteredOffice 2023-06-01 2024-05-31 03194226 bus:CompanySecretaryDirector1 2023-06-01 2024-05-31 03194226 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 03194226 core:PlantMachinery 2023-06-01 2024-05-31 03194226 countries:AllCountries 2023-06-01 2024-05-31 03194226 2023-05-31 03194226 2022-06-01 2023-05-31 03194226 2023-05-31 03194226 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 03194226 core:Non-currentFinancialInstruments core:AfterOneYear 2023-05-31 iso4217:GBP xbrli:pure

Registration number: 03194226

Shant Laboratories Ltd.

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Shant Laboratories Ltd.

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Shant Laboratories Ltd.

Company Information

Director:

A Radulescu

Company secretary:

A Radulescu

Registered office:

Savoy House
Savoy Circus
London
W3 7DA

Registered number:

03194226

Accountants:

Wem & Co
Chartered Accountants
Savoy House
Savoy Circus
London
W3 7DA

 

Shant Laboratories Ltd.

(Registration number: 03194226)
Balance Sheet as at 31 May 2024

Note

31.05.24

31.05.23

   

£

£

£

£

CURRENT ASSETS

   

 

Debtors

5

 

66,254

 

66,254

CREDITORS

   

 

Creditors within 1yr

6

 

95,667

 

95,307

Total assets less current liabilities

   

(29,413)

 

(29,053)

Creditors
Amounts falling due after more than one year

6

 

205,590

 

200,550

Net liabilities

   

(235,003)

 

(229,603)

CAPITAL AND RESERVES

   

 

Called up share capital

 

1,000

 

1,000

Share premium reserve

 

47,405

 

47,405

Profit and loss account

 

(283,408)

 

(278,008)

Shareholders' deficit

   

(235,003)

 

(229,603)

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 23 February 2025

.........................................
A Radulescu
Company secretary and director

 

Shant Laboratories Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1.

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Savoy House
Savoy Circus
London
W3 7DA
England

These financial statements were authorised for issue by the director on 23 February 2025.

2.

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentational currency is Pound Sterling (£).

Going concern

The financial statements have been prepared on a going concern basis.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

33% straight line basis

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Shant Laboratories Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

2

Accounting policies (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3.

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

4.

Tangible assets

Plant and
machinery
£

Cost or valuation

At 1 June 2023

14,552

At 31 May 2024

14,552

Depreciation

At 1 June 2023

14,552

At 31 May 2024

14,552

Carrying amount

At 31 May 2024

-

 

Shant Laboratories Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

5.

Debtors

Current

31.05.24
£

31.05.23
£

Trade debtors

66,254

66,254

 

66,254

66,254

6.

Creditors

Creditors: amounts falling due within one year

31.05.24
£

31.05.23
£

Due within one year

Trade creditors

16,155

16,155

Accruals and deferred income

3,760

3,400

Other creditors

75,752

75,752

95,667

95,307

Creditors: amounts falling due after more than one year

Note

31.05.24
£

31.05.23
£

Due after one year

 

Preference shares

8

52,500

52,500

Preference shares dividend arrears

 

153,090

148,050

 

205,590

200,550

 

Shant Laboratories Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)

7.

Preference shares

The Preference Shares, which were issued at par, are redeemable no fewer than 30 days after a notice in writing specifying the number of Preference Shares held by such shareholder to be redeemed. They carry a dividend of 9.6% per annum payable half yearly in arrears on 1st July and 1st January ech year, save that the first period during which a fixed cumulative preferential dividend shall accrue shall not commence until the expiry of 18 months from the date on which the Preference Shares are alloted.

The Preference Shares carry no votes at meetings unless the business of the meeting is or includes the consideration of a resolution varying, modifying, altering or abrogating any of the rights, privileges, limitations or restrictions attached to the Preference Shares.

As at the year end the outstanding dividend due to the preference shareholders is shown in other creditors due in more than one year, this includes the amount due for this year of £5,040.

The Preference Shares were due to be redeemed on 31st December 2003 at £1.50 per share plus accrued dividends not paid. The directors consider the company will not return to profitability in the foreseeable future consequently the Preference Shares, deemed financial liabilities under FRS102, are shown as liabilities over one year.

8.

Loans and borrowings

31.05.24
£

31.05.23
£

Non-current loans and borrowings

Repayable by instalements
Preference shares

52,500

52,500