Registered number
11147058
HELJIM LIMITED
Filleted Accounts
31 January 2024
HELJIM LIMITED
Registered number: 11147058
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 12,454 10,701
Current assets
Debtors 4 23,817 42,376
Cash at bank and in hand 17,388 4,445
41,205 46,821
Creditors: amounts falling due within one year 5 (31,990) (48,488)
Net current assets/(liabilities) 9,215 (1,667)
Total assets less current liabilities 21,669 9,034
Creditors: amounts falling due after more than one year 6 (29,988) (35,663)
Net liabilities (8,319) (26,629)
Capital and reserves
Called up share capital 30 30
Profit and loss account (8,349) (26,659)
Shareholder's funds (8,319) (26,629)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
James Phillips
Director
Approved by the board on 1 October 2024
HELJIM LIMITED
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
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
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover 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.
Going Concern
The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The company has financial support from the shareholder. Based on this the director believes the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due at least 12 months from the date of signing these financial statements. Accordingly, the director continues to adopt the going concern basis in preparing the financial statements.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Office & Computer Equipments over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Plant and machinery etc Computer & Office Equipment Total
£ £ £
Cost
At 1 February 2023 17,657 6,805 24,462
Additions 5,646 610 6,256
At 31 January 2024 23,303 7,415 30,718
Depreciation
At 1 February 2023 10,050 3,711 13,761
Charge for the year 3,443 1,060 4,503
At 31 January 2024 13,493 4,771 18,264
Net book value
At 31 January 2024 9,810 2,644 12,454
At 31 January 2023 7,607 3,094 10,701
4 Debtors 2024 2023
£ £
Trade debtors 6,487 3,700
Prepayments 6,333 6,117
Dose Ltd - Debtor 10,506 27,663
Cycle Scheme 491 1,623
Other debtors - 3,273
23,817 42,376
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 16,235 12,671
VAT 1,602 969
Pension Payable 1,011 1,705
Accruals 435 -
PAYE 2,707 8,823
Other creditors - 14,320
31,990 48,488
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 29,988 35,663
Bank loan relates to Bounce Back Loan scheme set up by the Government to help businesses with Covid-19. It is Government backed unsecured loan with interest at 2.5% . The loan is due for repayment within 5 years.
7 Other information
HELJIM LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
70 Long Lane
London
EC1A 9EJ
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