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REGISTERED NUMBER: 08079389 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2024

FOR

HI-JI LIMITED

HI-JI LIMITED (REGISTERED NUMBER: 08079389)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HI-JI LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JULY 2024







DIRECTOR: B Patel





REGISTERED OFFICE: 126 Royal College Street
London
NW1 0TA





REGISTERED NUMBER: 08079389 (England and Wales)






HI-JI LIMITED (REGISTERED NUMBER: 08079389)

BALANCE SHEET
31ST JULY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 244,888 352,441
Tangible assets 5 677,336 698,047
Investments 6 2,959,674 2,959,674
3,881,898 4,010,162

CURRENT ASSETS
Stocks 7 132,925 137,766
Debtors 8 721,176 650,964
Cash at bank and in hand 68,164 134,327
922,265 923,057
CREDITORS
Amounts falling due within one year 9 (731,793 ) (726,561 )
NET CURRENT ASSETS 190,472 196,496
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,072,370

4,206,658

CREDITORS
Amounts falling due after more than one
year

10

(3,749,592

)

(3,802,177

)

PROVISIONS FOR LIABILITIES 12 - (1,198 )
NET ASSETS 322,778 403,283

CAPITAL AND RESERVES
Called up share capital 13 1 1
Retained earnings 14 322,777 403,282
SHAREHOLDERS' FUNDS 322,778 403,283

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

HI-JI LIMITED (REGISTERED NUMBER: 08079389)

BALANCE SHEET - continued
31ST JULY 2024


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 director and authorised for issue on 25th April 2025 and were signed by:





B Patel - Director


HI-JI LIMITED (REGISTERED NUMBER: 08079389)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2024

1. STATUTORY INFORMATION

Hi-Ji 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

HI-JI LIMITED (REGISTERED NUMBER: 08079389)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st August 2023
and 31st July 2024 1,075,523
AMORTISATION
At 1st August 2023 723,082
Amortisation for year 107,553
At 31st July 2024 830,635
NET BOOK VALUE
At 31st July 2024 244,888
At 31st July 2023 352,441

5. TANGIBLE ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1st August 2023 650,000 146,578 20,050 816,628
Additions - 3,400 - 3,400
At 31st July 2024 650,000 149,978 20,050 820,028
DEPRECIATION
At 1st August 2023 9,000 100,809 8,772 118,581
Charge for year 9,000 12,292 2,819 24,111
At 31st July 2024 18,000 113,101 11,591 142,692
NET BOOK VALUE
At 31st July 2024 632,000 36,877 8,459 677,336
At 31st July 2023 641,000 45,769 11,278 698,047

Included in cost of land and buildings is freehold land of £ 200,000 (2023 - £ 200,000 ) which is not depreciated.

HI-JI LIMITED (REGISTERED NUMBER: 08079389)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2024

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st August 2023
and 31st July 2024 2,959,674
NET BOOK VALUE
At 31st July 2024 2,959,674
At 31st July 2023 2,959,674

7. STOCKS
2024 2023
£    £   
Stocks 132,925 137,766

8. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 237,304 221,714
Other debtors and prepayments 58,048 58,364
Tax 24,313 69,722
Deferred tax asset 1,636 -
321,301 349,800

Amounts falling due after more than one year:
Amounts owed by group undertakings 399,875 301,164

Aggregate amounts 721,176 650,964

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 11) 406,103 385,427
Trade creditors 272,877 292,697
Tax 9,555 5,751
Social security and other taxes 2,194 2,090
Other creditors and accruals 40,620 40,013
Director's current account 444 583
731,793 726,561

HI-JI LIMITED (REGISTERED NUMBER: 08079389)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2024

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 11) 2,341,045 2,527,791
Other loans (see note 11) 292,001 287,001
Amounts owed to group undertakings 1,116,546 987,385
3,749,592 3,802,177

11. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 51 -
Bank loans 406,052 385,427
406,103 385,427

Amounts falling due between one and two years:
Other loans - Mrs K D Patel 140,000 75,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 2,341,045 2,527,791
Other loans - 2-5 years 152,001 212,001
2,493,046 2,739,792

12. PROVISIONS FOR LIABILITIES
2023
£   
Deferred tax 1,198

Deferred
tax
£   
Balance at 1st August 2023 1,198
Provided during year (2,834 )
Balance at 31st July 2024 (1,636 )

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary 1 1 1

HI-JI LIMITED (REGISTERED NUMBER: 08079389)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2024

14. RESERVES
Retained
earnings
£   

At 1st August 2023 403,282
Deficit for the year (29,005 )
Dividends (51,500 )
At 31st July 2024 322,777

15. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

16. ULTIMATE CONTROLLING PARTY

The director Bhavesh Patel is the ultimate controlling party by virtue of having ownership of 100% of the issued ordinary share capital in the company.