Registered number
11431352
Shri Shey Limited
Filleted Accounts
31 July 2024
Shri Shey Limited
Registered number: 11431352
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 39,398 39,398
Current assets
Debtors 4 5,781 5,781
Cash at bank and in hand 1,534 1,895
7,315 7,676
Creditors: amounts falling due within one year 5 (29,566) (38,770)
Net current liabilities (22,251) (31,094)
Total assets less current liabilities 17,147 8,304
Creditors: amounts falling due after more than one year 6 (12,858) (14,658)
Net assets/(liabilities) 4,289 (6,354)
Capital and reserves
Called up share capital 1 1
Profit and loss account 4,288 (6,355)
Shareholders' funds 4,289 (6,354)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Umesh Thakorbhai Patel
Director
Approved by the board on 29 April 2025
Shri Shey Limited
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rents receivable on the leased property of the company.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings Not depreciated
Fixtures, fittings, tools and equipment over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Going concern
The financial statements have been prepared on the going concern basis and the company intends to continue trading for the forseeable future, settling any liabilities as and when they fall due through funding from the director if necessary.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 August 2023 39,398 1,518 40,916
At 31 July 2024 39,398 1,518 40,916
Depreciation
At 1 August 2023 - 1,518 1,518
At 31 July 2024 - 1,518 1,518
Net book value
At 31 July 2024 39,398 - 39,398
At 31 July 2023 39,398 - 39,398
4 Debtors 2024 2023
£ £
Other debtors 5,781 5,781
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 1,629 -
Director's account 55 126
Other creditors 27,882 38,644
29,566 38,770
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 12,858 14,658
7 Other information
Shri Shey Limited is a private company limited by shares and incorporated in England. Its registered office is:
Laxmi House
2-b Draycott Avenue
Kenton Harrow
Middlesex
HA3 0BU
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