Registered number
08412066
HDJ Electrical Limited
Filleted Accounts
28 February 2024
HDJ Electrical Limited
Registered number: 08412066
Balance Sheet
as at 28 February 2024
Notes 2024 2023
£ £
Current assets
Debtors 3 15,789 31,375
Cash at bank and in hand 208,496 183,799
224,285 215,174
Creditors: amounts falling due within one year 4 (55,326) (58,911)
Net current assets 168,959 156,263
Total assets less current liabilities 168,959 156,263
Creditors: amounts falling due after more than one year 5 (14,012) (24,188)
Net assets 154,947 132,075
Capital and reserves
Called up share capital 20 20
Capital redemption reserve 20 20
Profit and loss account 154,907 132,035
Shareholders' funds 154,947 132,075
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 members have 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.
Mr. D Harvey
Director
Approved by the board on 15 November 2024
HDJ Electrical Limited
Notes to the Accounts
for the year ended 28 February 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.
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.
Grants
Grants which relate to revenue are recognised as income in the period the related costs are incurred and for which the grant is intended to compensate. Grants which are received for compensation for expenses or losses which have already been incurred is recognised as income when it is received or receivable.
Grants which relate to assets are recognised in income on a systematic basis over the useful life of the asset.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
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 1 1
3 Debtors 2024 2023
£ £
Trade & other debtors 15,789 31,375
4 Creditors: amounts falling due within one year 2024 2023
£ £
Trade & other creditors ( incl Directors loans ) 55,326 58,911
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loan 14,012 24,188
6 Other information
HDJ Electrical Limited is a private company limited by shares and incorporated in England. Its registered office is:
Valley House
Kingsway South
Team Valley
Gateshead
NE11 0JW
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