Registered number
05976713
SHIVA ONE LIMITED
Filleted Accounts
30 November 2024
SHIVA ONE LIMITED
Registered number: 05976713
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 10,000 10,000
Tangible assets 4 3,191 8,173
13,191 18,173
Current assets
Stocks 42,750 39,250
Debtors 5 4,638 748
Cash at bank and in hand 18,381 33,273
65,769 73,271
Creditors: amounts falling due within one year 6 (62,225) (38,494)
Net current assets 3,544 34,777
Total assets less current liabilities 16,735 52,950
Creditors: amounts falling due after more than one year 7 (11,769) (17,007)
Net assets 4,966 35,943
Capital and reserves
Called up share capital 2 2
Profit and loss account 4,964 35,941
Shareholders' funds 4,966 35,943
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.
K M PATEL
Director
Approved by the board on 7 June 2025
SHIVA ONE LIMITED
Notes to the Accounts
for the year ended 30 November 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 includes revenue earned from the sale of goods and from the rendering of services, net of dicounts and value added taxes.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Goodwill over 5 years
Plant and machinery 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2023 10,000
At 30 November 2024 10,000
Amortisation
At 30 November 2024 -
Net book value
At 30 November 2024 10,000
At 30 November 2023 10,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 December 2023 3,231 36,413 23,047 62,691
At 30 November 2024 3,231 36,413 23,047 62,691
Depreciation
At 1 December 2023 - 34,546 19,972 54,518
Charge for the year - 373 4,609 4,982
At 30 November 2024 - 34,919 24,581 59,500
Net book value
At 30 November 2024 3,231 1,494 (1,534) 3,191
At 30 November 2023 3,231 1,867 3,075 8,173
5 Debtors 2024 2023
£ £
Trade debtors 3,730 -
Other debtors 908 748
4,638 748
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 14,034 24,489
VAT creditors 2,701 6,982
Corporation tax (1,200) 1,200
Other taxes and social security costs 967 (698)
Other creditors 45,723 6,521
62,225 38,494
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 11,769 17,007
8 Other information
SHIVA ONE LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
140 Commercial Road
London
E1 1NL
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