He-Shi Enterprises Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: NI062044

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		113,778		106,764
Tangible Assets	5		208,359		226,729

			322,137		333,493
CURRENT ASSETS
Stocks	6	325,051		340,051
Debtors	7	247,301		282,195
Cash at bank and in hand		66,476		25,057

		638,828		647,303
Creditors: Amounts Falling Due Within One Year	8	(282,534 )		(239,916 )

NET CURRENT ASSETS (LIABILITIES)			356,294		407,387

TOTAL ASSETS LESS CURRENT LIABILITIES			678,431		740,880

Creditors: Amounts Falling Due After More Than One Year	9		(179,724 )		(225,473 )

NET ASSETS			498,707		515,407

CAPITAL AND RESERVES
Called up share capital			450		450
Revaluation reserve			20,000		20,000
Profit and Loss Account			478,257		494,957

SHAREHOLDERS' FUNDS			498,707		515,407

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He-Shi Enterprises Ltd

Balance Sheet (continued)

As At 31 December 2024

For the year ending 31 December 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

Hilary McMurray

Director

20/05/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

He-Shi Enterprises Ltd is a private company, limited by shares, incorporated in Northern Ireland, registered number NI062044 . The registered office is 6a Ballykeigle Road, Comber, County Down, BT23 5SD.

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, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.

2.3. Intangible Fixed Assets and Amortisation - Other Intangible

Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Assets are amortised at 20% straight line.

2.4. 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:

Freehold	4% Straight Line
Plant & Machinery	15% Straight Line
Fixtures & Fittings	33% Reducing Balance

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.6. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.7. Government Grant

Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.

2.8. Research and Development

Expenditure on research and development is written off in the year in which it is incurred.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 18 (2023: 16)

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He-Shi Enterprises Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

4. Intangible Assets

	Other
	£
Cost
As at 1 January 2024	165,315
Additions	31,730

As at 31 December 2024	197,045

Amortisation
As at 1 January 2024	58,551
Provided during the period	24,716

As at 31 December 2024	83,267

Net Book Value
As at 31 December 2024	113,778

As at 1 January 2024	106,764

5. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Fixtures & Fittings	Total
	£	£	£	£
Cost
As at 1 January 2024	446,283	98,011	127,058	671,352
Additions	-	-	4,026	4,026

As at 31 December 2024	446,283	98,011	131,084	675,378

Depreciation
As at 1 January 2024	231,272	98,011	115,340	444,623
Provided during the period	17,851	-	4,545	22,396

As at 31 December 2024	249,123	98,011	119,885	467,019

Net Book Value
As at 31 December 2024	197,160	-	11,199	208,359

As at 1 January 2024	215,011	-	11,718	226,729

6. Stocks

	2024	2023
	£	£
Finished goods	325,051	340,051

7. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	83,357	92,038
Other debtors	163,944	190,157

	247,301	282,195

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He-Shi Enterprises Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

8. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	170,603	92,404
Bank loans and overdrafts	63,711	78,162
Other creditors	10,384	22,603
Taxation and social security	37,836	46,747

	282,534	239,916

9. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	179,724	225,473

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