Registered number
04440789
HARJI PRECISION ENGINEERING LIMITED
Filleted Accounts
30 May 2024
HARJI PRECISION ENGINEERING LIMITED
Registered number: 04440789
Balance Sheet
as at 30 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 - 67,192
Current assets
Stocks 27,129 24,334
Debtors 4 41,000 51,356
Cash at bank and in hand 309,687 76,916
377,816 152,606
Creditors: amounts falling due within one year 5 (204,560) (148,076)
Net current assets 173,256 4,530
Total assets less current liabilities 173,256 71,722
Creditors: amounts falling due after more than one year 6 (28,724) (28,476)
Provisions for liabilities (11,582) (11,582)
Net assets 132,950 31,664
Capital and reserves
Called up share capital 2 2
Profit and loss account 132,948 31,662
Shareholders' funds 132,950 31,664
The directors are 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 directors acknowledge their 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 Tarsem Singh BHACHU
Director
Approved by the board on 23 May 2025
HARJI PRECISION ENGINEERING LIMITED
Notes to the Accounts
for the period from 1 June 2023 to 30 May 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.
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 20% reducing balance
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.
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 11 10
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023 423,339
At 30 May 2024 423,339
Depreciation
At 1 June 2023 356,147
On disposals 67,192
At 30 May 2024 423,339
Net book value
At 30 May 2024 -
At 31 May 2023 67,192
4 Debtors 2024 2023
£ £
Trade debtors - 37,356
Other debtors 41,000 14,000
41,000 51,356
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 10,000
Trade creditors 66,785 66,000
Taxation and social security costs 63,321 16,177
Directors loan account 53,330 38,148
Other creditors 21,124 17,751
204,560 148,076
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 28,724 28,476
7 Controlling party
During the period the company was under the control of its director Mr T S Bhachu.
8 Other information
HARJI PRECISION ENGINEERING LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
328 Uxbridge Road
Shepherds Bush
London
W12 7LJ
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