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Registration number: 10196367

Shakra Blue Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Shakra Blue Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Shakra Blue Ltd

Company Information

Directors

Mr Bharat Mehta

Mrs Nisha Bharat Mehta

Ms Raakhi Bharat Mehta

Ms Shanika Devangi Mehta

Registered office

Unit 5 Clements Court
Clements Lane
Ilford
Essex
IG1 2QY

Accountants

Tahas & Co Ltd
Chartered Certified Accountants
Suite 3, Second Floor
760 Eastern Avenue
Newbury Park
London
IG2 7HU

 

Shakra Blue Ltd

(Registration number: 10196367)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

24

24

Current assets

 

Stocks

5

504,475

504,475

Debtors

6

281,132

290,572

Cash at bank and in hand

 

56,416

11,124

 

842,023

806,171

Creditors: Amounts falling due within one year

7

(1,025,983)

(997,023)

Net current liabilities

 

(183,960)

(190,852)

Net liabilities

 

(183,936)

(190,828)

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

(184,036)

(190,928)

Shareholders' deficit

 

(183,936)

(190,828)

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.

Directors' 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 directors acknowledge 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 prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 February 2025 and signed on its behalf by:
 

 

Shakra Blue Ltd

(Registration number: 10196367)
Balance Sheet as at 31 May 2024

.........................................
Mr Bharat Mehta
Director

 

Shakra Blue 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 and Wales.

The address of its registered office is:
Unit 5 Clements Court
Clements Lane
Ilford
Essex
IG1 2QY
United Kingdom

These financial statements were authorised for issue by the Board on 20 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.

Going concern

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

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Shakra Blue Ltd

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

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

 

Shakra Blue Ltd

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

4

Investments

2024
£

2023
£

Investments in associates

24

24

Associates

£

Cost

At 1 June 2023

24

Provision

Carrying amount

At 31 May 2024

24

At 31 May 2023

24

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Associates

Om Property Essex Ltd

Unit 5 Clements Court
Clements Lane
Ilford
IG1 2QY

Ordinary

20%

20%

England

Associates

Om Property Essex Ltd

The principal activity of Om Property Essex Ltd is Property Investment.

5

Stocks

2024
£

2023
£

Properties Stock

504,475

504,475

 

Shakra Blue Ltd

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

6

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

9

279,500

288,500

Other debtors

 

1,632

2,072

   

281,132

290,572

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

534

1,824

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9

591,686

569,686

Accruals and deferred income

 

1,750

1,750

Other creditors

 

432,013

423,763

 

1,025,983

997,023

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

9

Related party transactions

 

Shakra Blue Ltd

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

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

12,000

12,000

Contributions paid to money purchase schemes

-

50,000

12,000

62,000