SHAMWARI UK LIMITED


Director	STYLE, Quintin Jeffrey


Company Secretary	STYLE, Debra Anne


Registered Address	32 Commercial Road
	Plymouth
	PL4 0LE


Registered Number	04594592 (England and Wales)

Notes to the Financial Statements
for the year ended 30 April 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	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 policy
	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.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Revenue from rendering of services
	Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

	Current taxation
	Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Deferred tax
	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. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

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. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Intangible assets
	Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.

	Goodwill
	Goodwill arising on an acquisition of a business is carried at cost less accumulated impairment losses, if any. Goodwill is amortised over its expected useful life which is estimated to be ten years. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. No reversals of impairment are recognised.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


		Reducing balance (%)
	Fixtures and fittings	25

	Stocks and work in progress
	Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

Stocks and work in progress

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.

Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	2		2

3.	Intangible assets

	Goodwill	Total
	£	£
Cost or valuation
At 01 May 24	20,000	20,000
At 30 April 25	20,000	20,000
Amortisation and impairment
At 01 May 24	12,000	12,000
Charge for year	2,000	2,000
At 30 April 25	14,000	14,000
Net book value
At 30 April 25	6,000	6,000
At 30 April 24	8,000	8,000

4.	Tangible fixed assets

	Fixtures & fittings	Total
	£	£
Cost or valuation
At 01 May 24	15,924	15,924
At 30 April 25	15,924	15,924
Depreciation and impairment
At 01 May 24	15,924	15,924
At 30 April 25	15,924	15,924
Net book value
At 30 April 25	-	-
At 30 April 24	-	-

5.	Stocks

	2025	2024
	£	£
Finished goods	1,020	1,020
Total	1,020	1,020

6.	Debtors: amounts due within one year

	2025	2024
	£	£
Prepayments and accrued income	1,419	1,683
Total	1,419	1,683

7.	Debtors: amounts due after one year

	2025	2024
	£	£
Trade debtors / trade receivables	-	14,228
Total	-	14,228


	Debtors after more than one year of £14,228 has been written out of the accounts, due to the related parties repayment being declared as a bad debt/impairment loss upon company closure.

8.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	2,159	3,386
Taxation and social security	1,133	579
Accrued liabilities and deferred income	644	1,932
Total	3,936	5,897


	Trade creditors due within one year is incorrect in the prior year (previously filed as £1,932) due to timing differences. This has been corrected in the current year and is deemed immaterial, as it does not affect the profit or tax liability as it has been accrued for.

9.	Creditors: amounts due after one year

	2025	2024
	£	£
Trade creditors / trade payables	6,490	9,676
Total	6,490	9,676

	Notes	2025		2024
		£	£	£	£
Fixed assets
Intangible assets	3		6,000		8,000
			6,000		8,000
Current assets
Stocks	5	1,020		1,020
Debtors	6,7	1,419		15,911
Cash at bank and on hand		2,837		2,417
		5,276		19,348
Creditors amounts falling due within one year	8	(3,936)		(5,897)
Net current assets (liabilities)			1,340		13,451
Total assets less current liabilities			7,340		21,451
Creditors amounts falling due after one year	9		(6,490)		(9,676)
Net assets			850		11,775
Capital and reserves
Called up share capital			100		100
Profit and loss account			750		11,675
Shareholders' funds			850		11,775