Registered number
14588618
Shree Mart Ltd
Filleted Accounts
for the year ended 31 December 2024
Shree Mart Ltd
Registered number: 14588618
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 36,000 38,000
Tangible assets 4 18,314 22,892
54,314 60,892
Current assets
Stocks 50,135 46,310
Debtors 5 9,000 9,000
Cash at bank and in hand 6,636 1,058
65,771 56,368
Creditors: amounts falling due within one year 6 (126,448) (105,557)
Net current liabilities (60,677) (49,189)
Total assets less current liabilities (6,363) 11,703
Creditors: amounts falling due after more than one year 7 (25,347) (40,403)
Net liabilities (31,710) (28,700)
Capital and reserves
Called up share capital 2 2
Profit and loss account (31,712) (28,702)
Shareholders' funds (31,710) (28,700)
The director is 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 director acknowledges his 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.
Siddharth Patel
Director
Approved by the board on 30 June 2025
Shree Mart Ltd
Notes to the Accounts
for the year ended 31 December 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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Plant and machinery 20% reducing balances
Fixtures, fittings, tools and equipment 20% reducing balances
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2024 40,000
At 31 December 2024 40,000
Amortisation
At 1 January 2024 2,000
Provided during the year 2,000
At 31 December 2024 4,000
Net book value
At 31 December 2024 36,000
At 31 December 2023 38,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Motor vehicles
£
Cost
At 1 January 2024 24,097
At 31 December 2024 24,097
Depreciation
At 1 January 2024 1,205
Charge for the year 4,578
At 31 December 2024 5,783
Net book value
At 31 December 2024 18,314
At 31 December 2023 22,892
5 Debtors 2024 2023
£ £
Other debtors 9,000 9,000
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 54 -
Trade creditors (3,499) 1,367
Wages Control 926 -
Taxation and social security costs 2,948 2,056
Other creditors 126,019 102,134
126,448 105,557
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 12,343 -
American Express - 3,653
Capital ON Tap 13,004 -
Other Loans - 36,750
25,347 40,403
8 Other information
Shree Mart Ltd is a private company limited by shares and incorporated in England. Its registered office is:
201 Merton Road
Wandsworth
London
SE18 5EE
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