Registered number
04823754
SHAKAY LTD
Filleted Accounts
31 March 2025
SHAKAY LTD
Registered number: 04823754
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 220,248 16,385
Investments 4 500,100 500,100
720,348 516,485
Current assets
Debtors 5 571,360 491,813
Cash at bank and in hand 6,040 203,768
577,400 695,581
Creditors: amounts falling due within one year 6 (47,311) (22,373)
Net current assets 530,089 673,208
Total assets less current liabilities 1,250,437 1,189,693
Creditors: amounts falling due after more than one year 7 (143,630) -
Provisions for liabilities (49,117) (48,894)
Net assets 1,057,690 1,140,799
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,057,590 1,140,699
Shareholders' funds 1,057,690 1,140,799
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.
A P Marks
Director
Approved by the board on 6 June 2025
SHAKAY LTD
Notes to the Accounts
for the year ended 31 March 2025
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). The company is exempt from preparing group accounts as it is a small group.
Turnover
Turnover comprises income receivable for the year from property rentals.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Freehold buildings are maintained to a standard such that a charge for depreciation would be immaterial. Depreciation is provided on all tangible fixed assets, other than freehold land and buildings, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold property improvements 10% straight line, or the lease term if shorter
Equipment 25% on net book value
Investments
Investment property is measured at fair value. Changes in fair value are included in the profit and loss account. Investment in the subsidiary company is measured at cost less any accumulated impairment losses. Debtors include a loan to the subsidiary company.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), 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. 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. 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. There are no finance leases in either of the years under review. 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.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Equipment Total
£ £ £
Cost
At 1 April 2024 79,474 827 80,301
Additions 211,903 - 211,903
At 31 March 2025 291,377 827 292,204
Depreciation
At 1 April 2024 63,407 509 63,916
Charge for the year 7,960 80 8,040
At 31 March 2025 71,367 589 71,956
Net book value
At 31 March 2025 220,010 238 220,248
At 31 March 2024 16,067 318 16,385
4 Investments
Investments in
subsidiary Other
undertaking investments Total
at cost at fair value
£ £ £
Cost
At 1 April 2024 100 500,000 500,100
At 31 March 2025 100 500,000 500,100
Fair value has been estimated by a director of the company in conjunction with advice from a commercial property estate agent and the amount is considered to be reasonable in view of the rental income and expected rate of return.
5 Debtors 2025 2024
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 557,110 477,102
Other debtors 9,000 9,461
Prepayments 5,250 5,250
571,360 491,813
6 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loan 5,505 -
Taxation and social security costs 289 1,009
Other creditors 32,129 12,163
Accruals and deferred income 9,388 9,201
47,311 22,373
7 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loan 143,630 -
8 Loans 2025 2024
£ £
Creditors include:
Instalments falling due for payment after more than five years 116,779 -
Secured bank loans 149,135 -
The loan is secured by a legal charge over the company's investment property.
9 Other financial commitments 2025 2024
£ £
Total future minimum payments under non-cancellable operating leases:
Undertaken on behalf of or for the benefit of the company's subsidiary companies 19,740 45,570
Others 99,750 120,750
119,490 166,320
10 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
A P Marks
Director's current account 231 202 (433) -
L J Marks
Director's current account 230 203 (433) -
461 405 (866) -
The loans on the directors' current accounts are interest-free and repayable on demand.
11 Other information
SHAKAY LTD is a private company limited by shares and incorporated in England & Wales. Its registered office is:
27 Melton Grange Road
Melton
Woodbridge
Suffolk
IP12 1SA
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