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Company No: 09094589 (England and Wales)

SHEILA KING INTERNATIONAL LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

SHEILA KING INTERNATIONAL LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

SHEILA KING INTERNATIONAL LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 June 2024
SHEILA KING INTERNATIONAL LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 2,618 3,491
2,618 3,491
Current assets
Debtors 4 63,127 38,359
Cash at bank and in hand 5 905,974 759,188
969,101 797,547
Creditors: amounts falling due within one year 6 ( 68,004) ( 16,865)
Net current assets 901,097 780,682
Total assets less current liabilities 903,715 784,173
Net assets 903,715 784,173
Capital and reserves
Called-up share capital 7 10 10
Profit and loss account 903,705 784,163
Total shareholder's funds 903,715 784,173

For the financial 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:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Sheila King International Limited (registered number: 09094589) were approved and authorised for issue by the Director. They were signed on its behalf by:

S M King
Director

13 March 2025

SHEILA KING INTERNATIONAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
SHEILA KING INTERNATIONAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Sheila King International Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 57 Queen Anne Street, London, W1G 9JR, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

The Company's functional and presentational currency is GBP.

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. Nonmonetary 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'.

Turnover

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

**Rendering of services**

Revenue 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 revenue 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.

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current 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 income 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.

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment 25 % reducing balance

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.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including the director 1 1

3. Tangible assets

Office equipment Total
£ £
Cost
At 01 July 2023 12,774 12,774
At 30 June 2024 12,774 12,774
Accumulated depreciation
At 01 July 2023 9,283 9,283
Charge for the financial year 873 873
At 30 June 2024 10,156 10,156
Net book value
At 30 June 2024 2,618 2,618
At 30 June 2023 3,491 3,491

4. Debtors

2024 2023
£ £
Trade debtors 63,127 38,359

5. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 157,126 159,188
Short-term deposits 748,848 600,000
905,974 759,188

6. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to director 1,515 486
Accruals 1,999 2,000
Taxation and social security 64,490 14,379
68,004 16,865

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
10 Ordinary shares of £ 1.00 each 10 10

8. Related party transactions

Included within other creditors is a balance of £1,515 (2023: £486) owed to the director. This balance is unsecured, interest free with no fixed repayment terms.