Shaniv Hospitality Limited 31/03/2023 iXBRL

Shaniv Hospitality Limited 31/03/2023 iXBRL

SHANIV HOSPITALITY LTD - Company Information

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1 31/03/2023 2023-03-31 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2022-04-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 11894034 2022-04-01 2023-03-31 11894034 2023-03-31 11894034 2022-03-31 11894034 2021-04-01 2022-03-31 11894034 2022-03-31 11894034 core:PlantMachinery 2022-04-01 2023-03-31 11894034 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 11894034 bus:RegisteredOffice 2022-04-01 2023-03-31 11894034 bus:LeadAgentIfApplicable 2022-04-01 2023-03-31 11894034 bus:Director1 2022-04-01 2023-03-31 11894034 bus:Director2 2022-04-01 2023-03-31 11894034 core:PlantMachinery 2022-03-31 11894034 core:FurnitureFittingsToolsEquipment 2022-03-31 11894034 core:PlantMachinery 2023-03-31 11894034 core:FurnitureFittingsToolsEquipment 2023-03-31 11894034 core:WithinOneYear 2023-03-31 11894034 core:WithinOneYear 2022-03-31 11894034 core:AfterOneYear 2023-03-31 11894034 core:AfterOneYear 2022-03-31 11894034 core:ShareCapital 2023-03-31 11894034 core:ShareCapital 2022-03-31 11894034 core:RetainedEarningsAccumulatedLosses 2023-03-31 11894034 core:RetainedEarningsAccumulatedLosses 2022-03-31 11894034 core:PlantMachinery 2022-03-31 11894034 core:FurnitureFittingsToolsEquipment 2022-03-31 11894034 bus:SmallEntities 2022-04-01 2023-03-31 11894034 bus:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 11894034 bus:FullAccounts 2022-04-01 2023-03-31 11894034 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 11894034 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 11894034 core:EntitiesControlledByKeyManagementPersonnel 2022-04-01 2023-03-31
Company registration number: 11894034
Shaniv Hospitality Limited
Unaudited filleted financial statements
31 March 2023
Shaniv Hospitality Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Shaniv Hospitality Limited
Directors and other information
Directors A Shamir
S Yaakov
Company number 11894034
Registered office 13 Reddings Close
London
NW7 4JL
Accountants Redford & Co Limited
Chartered Accountants
First Floor
64 Baker Street
London
W1U 7GB
Shaniv Hospitality Limited
Statement of financial position
31 March 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 2,460 6,273
_______ _______
2,460 6,273
Current assets
Debtors 6 36,861 41,326
Cash at bank and in hand 16,080 21,100
_______ _______
52,941 62,426
Creditors: amounts falling due
within one year 7 ( 47,427) ( 54,057)
_______ _______
Net current assets 5,514 8,369
_______ _______
Total assets less current liabilities 7,974 14,642
Creditors: amounts falling due
after more than one year 8 ( 28,846) ( 38,846)
_______ _______
Net liabilities ( 20,872) ( 24,204)
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account ( 20,972) ( 24,304)
_______ _______
Shareholders deficit ( 20,872) ( 24,204)
_______ _______
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 28 March 2024 , and are signed on behalf of the board by:
A Shamir
Director
Company registration number: 11894034
Shaniv Hospitality Limited
Notes to the financial statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in UK. The address of the registered office is 13 Reddings Close, London, NW7 4JL.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 25 % straight line
Fittings fixtures and equipment - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 3 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 April 2022 and 31 March 2023 3,662 12,057 15,719
_______ _______ _______
Depreciation
At 1 April 2022 2,010 7,436 9,446
Charge for the year 827 2,986 3,813
_______ _______ _______
At 31 March 2023 2,837 10,422 13,259
_______ _______ _______
Carrying amount
At 31 March 2023 825 1,635 2,460
_______ _______ _______
At 31 March 2022 1,652 4,621 6,273
_______ _______ _______
6. Debtors
2023 2022
£ £
Trade debtors 1,200 15,950
Other debtors 35,661 25,376
_______ _______
36,861 41,326
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 21,867 21,867
Trade creditors 9,772 19,078
Corporation tax 622 -
Social security and other taxes 10,091 6,108
Other creditors 5,075 7,004
_______ _______
47,427 54,057
_______ _______
8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans and overdrafts 28,846 38,846
_______ _______
9. Related party transactions
The company has a loan account with Raftech Services Ltd, a company controlled by one of the directors. The loan balance at the year end was £26,359 being monies owed to the company (2022: £16,089). The loan is interest-free, unsecured and repayable on demand.