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REGISTERED NUMBER: 07164189 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

ASHJAN LIMITED

ASHJAN LIMITED (REGISTERED NUMBER: 07164189)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023










Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


ASHJAN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: D Gami
Mrs. K Gami





REGISTERED OFFICE: 505 Pinner Road
Harrow
Middlesex
HA2 6EH





REGISTERED NUMBER: 07164189 (England and Wales)





ACCOUNTANTS: Sterling
505 Pinner Road
North Harrow
Middlesex
HA2 6EH

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
ASHJAN LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ashjan Limited for the year ended 28 February 2023 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Ashjan Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ashjan Limited and state those matters that we have agreed to state to the Board of Directors of Ashjan Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ashjan Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Ashjan Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Ashjan Limited. You consider that Ashjan Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Ashjan Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Sterling
505 Pinner Road
North Harrow
Middlesex
HA2 6EH


16 October 2023

ASHJAN LIMITED (REGISTERED NUMBER: 07164189)

STATEMENT OF FINANCIAL POSITION
28 FEBRUARY 2023

28/2/23 28/2/22
Notes £ £ £ £
FIXED ASSETS
Property, plant and equipment 4 20,352 25,439

CURRENT ASSETS
Inventories 5 40,059 91,484
Debtors 6 321,073 330,663
Cash at bank 10 30,289
361,142 452,436
CREDITORS
Amounts falling due within one year 7 390,497 409,186
NET CURRENT (LIABILITIES)/ASSETS (29,355 ) 43,250
TOTAL ASSETS LESS CURRENT
LIABILITIES

(9,003

)

68,689

CREDITORS
Amounts falling due after more than one
year

8

492,284

462,708
NET LIABILITIES (501,287 ) (394,019 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 (501,387 ) (394,119 )
SHAREHOLDERS' FUNDS (501,287 ) (394,019 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ASHJAN LIMITED (REGISTERED NUMBER: 07164189)

STATEMENT OF FINANCIAL POSITION - continued
28 FEBRUARY 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 October 2023 and were signed on its behalf by:





D Gami - Director


ASHJAN LIMITED (REGISTERED NUMBER: 07164189)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


1. STATUTORY INFORMATION

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

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provision of Section 1A " Small Entities" of Financial Reporting Standard 102" The financial reporting standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under historical cost convention. The presentation currency is £ sterling.

Turnover
Turnover represents amounts receivable for work done on other building completion and finishing, net of value added tax.

The revenue is recognised when the company has the right to consideration.

Tangible fixed assets
Property,plant and equipment are stated at fair value which is cost less accumulated depreciation and impairment.

Depreciation is provided on all property, plant and equipment at rates calculated to write off the cost less estimated residual value of each assets on a systematic basis over its expected useful life as follows:


Plant and Machinery - 25% on reducing balance
Computer Equipment - 25% on reducing balance


The carrying value of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


ASHJAN LIMITED (REGISTERED NUMBER: 07164189)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
Considering the net liability position of the company, the directors have confirmed that they will continue to give financial support to the company until such time as its position improves and will continue to provide support to meet its current obligations. In addition the directors have confirmed that they will not recall their loans within 12 months. The directors consider that it is appropriate to prepare the financial statements on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and Computer
machinery equipment Totals
£ £ £
COST
At 1 March 2022
and 28 February 2023 69,671 1,669 71,340
DEPRECIATION
At 1 March 2022 44,315 1,586 45,901
Charge for year 5,071 16 5,087
At 28 February 2023 49,386 1,602 50,988
NET BOOK VALUE
At 28 February 2023 20,285 67 20,352
At 28 February 2022 25,356 83 25,439

ASHJAN LIMITED (REGISTERED NUMBER: 07164189)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


4. PROPERTY, PLANT AND EQUIPMENT - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£
COST
At 1 March 2022
and 28 February 2023 69,671
DEPRECIATION
At 1 March 2022 44,315
Charge for year 5,071
At 28 February 2023 49,386
NET BOOK VALUE
At 28 February 2023 20,285
At 28 February 2022 25,356

5. INVENTORIES
28/2/23 28/2/22
£ £
Stocks 40,059 91,484

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28/2/23 28/2/22
£ £
Trade debtors 307,012 303,876
VAT 10,194 21,954
Deferred tax asset 3,867 4,833
321,073 330,663

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28/2/23 28/2/22
£ £
Bank loans and overdrafts 68,668 49,000
Hire purchase contracts 8,500 4,155
Trade creditors 7,407 12,722
Social security and other taxes 4,344 19,751
Directors' current accounts 299,378 321,358
Accrued expenses 2,200 2,200
390,497 409,186

ASHJAN LIMITED (REGISTERED NUMBER: 07164189)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28/2/23 28/2/22
£ £
Bank loans - 2-5 years 468,909 462,708
Hire purchase contracts 23,375 -
492,284 462,708

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28/2/23 28/2/22
value: £ £
100 Ordinary 1 100 100

10. RESERVES
Retained
earnings
£

At 1 March 2022 (394,119 )
Deficit for the year (107,268 )
At 28 February 2023 (501,387 )

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2023 and 28 February 2022:

28/2/23 28/2/22
£ £
D Gami
Balance outstanding at start of year (321,358 ) (215,121 )
Amounts advanced 131,577 73,975
Amounts repaid (109,597 ) (180,212 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (299,378 ) (321,358 )