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REGISTERED NUMBER: 11127778 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

SHABES LTD

SHABES LTD (REGISTERED NUMBER: 11127778)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SHABES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Rabbi M Steren
Mrs C S Steren





REGISTERED OFFICE: 115 Craven Park Road
London
London
N15 6BL





REGISTERED NUMBER: 11127778 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

SHABES LTD (REGISTERED NUMBER: 11127778)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Investment property 4 1,379,140 1,379,140

CURRENT ASSETS
Debtors 5 53,000 52,843
Cash at bank 6,463 4,890
59,463 57,733
CREDITORS
Amounts falling due within one year 6 (266,133 ) (272,717 )
NET CURRENT LIABILITIES (206,670 ) (214,984 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,172,470

1,164,156

CREDITORS
Amounts falling due after more than one
year

7

(1,207,448

)

(1,213,020

)
NET LIABILITIES (34,978 ) (48,864 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 (35,078 ) (48,964 )
SHAREHOLDERS' FUNDS (34,978 ) (48,864 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SHABES LTD (REGISTERED NUMBER: 11127778)

BALANCE SHEET - continued
31 DECEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2025 and were signed on its behalf by:





Rabbi M Steren - Director


SHABES LTD (REGISTERED NUMBER: 11127778)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Shabes Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net rent receivable, excluding value added tax.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

SHABES LTD (REGISTERED NUMBER: 11127778)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 1,379,140
NET BOOK VALUE
At 31 December 2023 1,379,140
At 31 December 2022 1,379,140

The directors have confirmed that there is no significant increase or decrease in the property market value.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 53,000 52,843

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Tax 8,685 4,414
Other creditors 74,974 81,068
Directors' current accounts 180,974 186,575
Accrued expenses 1,500 660
266,133 272,717

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans - 2-5 years 35,471 41,043
Bank loans more 5 yr by instal - 227,205
Bank loans more 5 yrs non-inst 1,171,977 944,772
1,207,448 1,213,020

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 1,171,977 944,772

Repayable by instalments
Bank loans more 5 yr by instal - 227,205

SHABES LTD (REGISTERED NUMBER: 11127778)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 1,207,448 1,213,020

1. Long term bank loan is secured by first charge over the company's investment property and bear interest at variable rates.

2. Under the bank loan, £35,471 was received under Bounce back Loan Scheme (BBL). The loan is unsecured, interest free for the first year, then capped at 2.5% afterwards and backed by HM Government.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Retained
earnings
£   

At 1 January 2023 (48,964 )
Profit for the year 13,886
At 31 December 2023 (35,078 )

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Rabbi M Steren.