Shamail Gold Ltd Filleted Accounts Cover
Shamail Gold Ltd
Company No. 08139734
Information for Filing with The Registrar
31 October 2024
Shamail Gold Ltd Directors Report Registrar
The Director presents her report and the accounts for the year ended 31 October 2024.
Principal activities
The principal activity of the company during the year under review was Jewellers.
Director
The Director who served at any time during the year was as follows:
N.A. Waseem
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
N.A. Waseem
Director
23 December 2025
Shamail Gold Ltd Balance Sheet Registrar
at
31 October 2024
Company No.
08139734
Notes
2024
2023
£
£
Fixed assets
Tangible assets
5
179,29398,182
179,29398,182
Current assets
Stocks
6
318,035871,103
Debtors
7
311,97627,550
Cash at bank and in hand
22,72815,898
652,739914,551
Creditors: Amount falling due within one year
8
(582,168)
(787,548)
Net current assets
70,571127,003
Total assets less current liabilities
249,864225,185
Creditors: Amounts falling due after more than one year
9
(17,864)
(33,224)
Net assets
232,000191,961
Capital and reserves
Called up share capital
1010
Profit and loss account
10
231,990191,951
Total equity
232,000191,961
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit 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 accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 23 December 2025 and signed on its behalf by:
N.A. Waseem
Director
23 December 2025
Shamail Gold Ltd Notes to the Accounts Registrar
for the year ended 31 October 2024
1
General information
Shamail Gold Ltd is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 08139734
Its registered office is:
131 Beaconsfield Road
Southall
UB1 1BZ
The accounts have been prepared in accordance and comply with FRS 102 and Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2
Accounting policies
Intangible fixed assets
Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Plant and machinery
18% Straight line
Motor vehicles
10% Straight line
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

Work in progress is reflected in the accounts on a contract by contract basis by recording revenue and related costs as contract activity progresses.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other 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.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Employees
2024
2023
Number
Number
The average monthly number of employees (including directors) during the year was:
87
4
Taxation
(a) Tax on profit on ordinary activities
2024
2023
The tax charge is made up as follows:
£
£
UK corporation tax
Charge for the period
3,76811,978
Credit for prior periods
(9,865)
-
Total corporation tax
(6,097)
11,978
Tax on profit on ordinary activities
(6,097)
11,978
(b) Factors affecting the total tax charge for the period
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The differences are reconciled below:
Lower
2024
2023
-6097
£
£
Profit on ordinary activities before tax
100,942152,579
Profit on ordinary activities multiplied by standard rate of corporation tax in the United Kingdom
--
Expenses not deductible for tax purposes
3,76811,978
Adjustments to charge in respect of prior periods
(9,865)
-
Tax on profit on ordinary activities
(6,097)
11,978
5
Tangible fixed assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost or revaluation
At 1 November 2023
91,14895,787186,935
Additions
11,61184,16795,778
At 31 October 2024
102,759179,954282,713
Depreciation
At 1 November 2023
84,7633,99088,753
Charge for the year
3,68610,98114,667
At 31 October 2024
88,44914,971103,420
Net book values
At 31 October 2024
14,310164,983179,293
At 31 October 2023
6,385
91,797
98,182
6
Stocks
2024
2023
£
£
Finished goods
318,035871,103
318,035871,103
7
Debtors
2024
2023
£
£
Trade debtors
309,66527,550
Prepayments and accrued income
2,311-
311,97627,550
8
Creditors:
amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
18,14720,817
Other loans
11,50030,000
Obligations under finance lease and hire purchase contracts
152,91884,733
Trade creditors
226,963415,430
Amounts owed to group undertakings
18,860
31,360
Taxes and social security
37,230
51,781
Loans from directors
27,43620,796
Other creditors
68,313111,830
Accruals and deferred income
20,80120,801
582,168787,548
9
Creditors:
amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
17,86433,224
17,86433,224
10
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
11
Dividends
2024
2023
£
£
Dividends for the period:
Dividends paid in the period
67,000
105,000
67,000
105,000
Dividends by type:
Equity dividends
67,000105,000
67,000
105,000
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