ACCOUNTS - Final Accounts

Registered number: 04636868

SHABASH LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025


SHABASH LIMITED REGISTERED NUMBER:04636868

BALANCE SHEET

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Intangible assets	4		-		4,000
Tangible assets	5		27		325
			27		4,325
Current assets
Debtors: amounts falling due within one year	6	62,709		4,632
Cash at bank and in hand	7	53,650		37,882
		116,359		42,514
Creditors: amounts falling due within one year	8	(468,030)		(475,286)
Net current liabilities			(351,671)		(432,772)
Total assets less current liabilities			(351,644)		(428,447)

Net liabilities			(351,644)		(428,447)

Capital and reserves
Called up share capital		100	100
Other reserves	9	228,000	228,000
Profit and loss account	9	(579,744)	(656,547)
		(351,644)	(428,447)

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SHABASH LIMITED REGISTERED NUMBER:04636868

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2025

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

M J Clutterbuck

Director

Date: 17 December 2025

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SHABASH LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2025

	Called up share capital	Other reserves	Profit and loss account	Total equity
	£	£	£	£
At 1 April 2023 (as previously stated)	100	228,000	(612,031)	(383,931)
Prior year adjustment	-	-	(26,200)	(26,200)
At 1 April 2023 (as restated)	100	228,000	(638,231)	(410,131)
Comprehensive income for the year
Loss for the year	-	-	(18,316)	(18,316)
Contributions by and distributions to owners

At 1 April 2024	100	228,000	(656,547)	(428,447)
Comprehensive income for the year
Profit for the year	-	-	76,803	76,803
At 31 March 2025	100	228,000	(579,744)	(351,644)

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SHABASH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

Shabash Limited is a private company limited by shares, incorporated in England and Wales. Its registered office is Millhouse, 32-38 East Street, Rochford, Essex SS4 1DB.

The principal activity continued to be that of computer consultancy.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006 and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liabilities Partnerships'. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Going concern

The financial statements have been prepared on the going concern basis, despite the net liabilities, due to the ongoing support of the directors.

2.3

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

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SHABASH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.7

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

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SHABASH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line and reducing balance method.

Depreciation is provided on the following basis:

				Plant & machinery	-	33% on cost
				Fixtures & fittings	-	25% on reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The average monthly number of employees, including directors, during the year was 7 (2024 -7).

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SHABASH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

4.	Intangible assets

		Patents
		£
	Cost
	At 1 April 2024	40,000
	At 31 March 2025	40,000
	Amortisation
	At 1 April 2024	36,000
	Charge for the year on owned assets	4,000
	At 31 March 2025	40,000
	Net book value
	At 31 March 2025	-
	At 31 March 2024	4,000

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SHABASH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

5.	Tangible fixed assets

	Plant & machinery	Fixtures & fittings	Total
	£	£	£
Cost or valuation
At 1 April 2024	8,277	1,039	9,316
At 31 March 2025	8,277	1,039	9,316
Depreciation
At 1 April 2024	7,988	1,003	8,991
Charge for the year on owned assets	289	9	298
At 31 March 2025	8,277	1,012	9,289
Net book value
At 31 March 2025	-	27	27
At 31 March 2024	289	36	325

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SHABASH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Debtors

					2025	2024
					£	£


Trade debtors	8,852	1,491
Other debtors	51,199	-
Prepayments and accrued income	2,658	3,141
	62,709	4,632

7.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	53,650	37,882
	53,650	37,882

8.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Other loans	406,291	406,291
Trade creditors	1,931	2,658
Taxation and social security	9,163	13,767
Other creditors	25,368	25,911
Accruals and deferred income	25,277	26,659
	468,030	475,286

Reserves

Other reserves

Other reserves consist of a capital contribution reserve, relating to capital contributions made to the company by shareholders.

10.	Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £4,987 (2024: £4,590). Contributions totalling £1,630 (2024: £1,630) were payable to the fund at the balance sheet date and are included in creditors

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SHABASH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

11.	Related party transactions
	At the balance sheet date the company owed a total of £373,291 (2024: £373,291) in interest-free unsecured loans to directors and their family members.

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