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Company registration number: 07107992
Shere Punjab Limited
Trading as Shere Punjab Limited
Unaudited filleted financial statements
31 March 2025
Shere Punjab Limited
Contents
Statement of financial position
Notes to the financial statements
Shere Punjab Limited
Statement of financial position
31 March 2025
2025 2024
Note £ £ £ £
Fixed assets
Tangible assets 6 8,894 10,550
_______ _______
8,894 10,550
Current assets
Stocks 24,170 10,125
Debtors 115,161 84,778
Cash at bank and in hand 42,273 53,518
_______ _______
181,604 148,421
Creditors: amounts falling due
within one year ( 111,912) ( 79,583)
_______ _______
Net current assets 69,692 68,838
_______ _______
Total assets less current liabilities 78,586 79,388
Creditors: amounts falling due
after more than one year ( 23,900) ( 26,093)
Provisions for liabilities ( 1,689) ( 2,004)
_______ _______
Net assets 52,997 51,291
_______ _______
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 51,997 50,291
_______ _______
Shareholders funds 52,997 51,291
_______ _______
For the year ending 31 March 2025 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 04 June 2025 , and are signed on behalf of the board by:
Mr Sherbirpal Singh Gill
Director
Company registration number: 07107992
Shere Punjab Limited
Notes to the financial statements
Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Shere Punjab Limited, 174 Newhampton Road East, Wolverhampton, West Midlands, WV1 4BD.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 15% % straight line
Fittings fixtures and equipment - 15% % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2024: 3 ).
5. Tax on profit
Major components of tax expense
2025 2024
£ £
Current tax:
UK current tax expense 4,937 8,582
_______ _______
Deferred tax:
Origination and reversal of timing differences ( 315) 496
_______ _______
Tax on profit 4,622 9,078
_______ _______
6. Tangible assets
Plant and machinery Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 April 2024 34,310 14,270 48,580
Additions 510 - 510
_______ _______ _______
At 31 March 2025 34,820 14,270 49,090
_______ _______ _______
Depreciation
At 1 April 2024 25,099 12,931 38,030
Charge for the year 1,941 225 2,166
_______ _______ _______
At 31 March 2025 27,040 13,156 40,196
_______ _______ _______
Carrying amount
At 31 March 2025 7,780 1,114 8,894
_______ _______ _______
At 31 March 2024 9,211 1,339 10,550
_______ _______ _______
7. Controlling party
The company is under the control of Mr Sherbirpal Singh Gill .