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Registered number: 10169759
SHJ Solutions Limited
Financial Statements
For The Year Ended 31 March 2024
Corinthian Tax LLP
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10169759
31 March 2024 31 March 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,174 3,372
Investment Properties 5 159,000 145,139
Investments 6 100 100
162,274 148,611
CURRENT ASSETS
Debtors 7 15,411 12,196
Cash at bank and in hand 7,578 1,667
22,989 13,863
Creditors: Amounts Falling Due Within One Year 8 (149,589 ) (114,160 )
NET CURRENT ASSETS (LIABILITIES) (126,600 ) (100,297 )
TOTAL ASSETS LESS CURRENT LIABILITIES 35,674 48,314
NET ASSETS 35,674 48,314
CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 13,861 -
Profit and Loss Account 21,713 48,214
SHAREHOLDERS' FUNDS 35,674 48,314
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Gareth Jenkins
Director
23/12/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
SHJ Solutions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10169759 . The registered office is Lynnfield House, Church Street, Altrincham, WA14 4DZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 33% straight line
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
4. Tangible Assets
Fixtures & Fittings
£
Cost or Valuation
As at 1 April 2023 15,776
Additions 3,304
Disposals (5,647 )
As at 31 March 2024 13,433
Depreciation
As at 1 April 2023 12,404
Provided during the period 3,502
Disposals (5,647 )
As at 31 March 2024 10,259
Net Book Value
As at 31 March 2024 3,174
As at 1 April 2023 3,372
5. Investment Property
31 March 2024
£
Fair Value
As at 1 April 2023 145,139
Revaluations 13,861
As at 31 March 2024 159,000
The investment property has been revalued upwards as of 31 March 2024 to reflect its approximate current market value. Management considers this valuation to be a fair representation of the property's market value at the reporting date.
6. Investments
Unlisted
£
Cost
As at 1 April 2023 100
As at 31 March 2024 100
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 100
As at 1 April 2023 100
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The investment has been measured at cost. No distributions have been received from the investment during the accounting year.
7. Debtors
31 March 2024 31 March 2023
£ £
Due within one year
Trade debtors 12,411 12,196
Other debtors 3,000 -
15,411 12,196
8. Creditors: Amounts Falling Due Within One Year
31 March 2024 31 March 2023
£ £
Trade creditors 10,249 5,318
Corporation tax 13,178 26,920
VAT 267 2,783
Other creditors - 70,000
Accruals and deferred income 4,310 7,754
Directors' loan accounts 121,585 1,385
149,589 114,160
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