Registered number
12458698
AHAJ64 LTD
Filleted Accounts
30 June 2022
AHAJ64 LTD
Registered number: 12458698
Balance Sheet
as at 30 June 2022
Notes 2022 2021
£ £
Fixed assets
Intangible assets 3 40,000 45,000
Tangible assets 4 21,838 24,561
61,838 69,561
Current assets
Debtors 5 37,420 38,442
Cash at bank and in hand 21,238 13,073
58,658 51,515
Creditors: amounts falling due within one year 6 (80,975) (88,584)
Net current liabilities (22,317) (37,069)
Total assets less current liabilities 39,521 32,492
Creditors: amounts falling due after more than one year 7 (31,667) (41,667)
Net assets/(liabilities) 7,854 (9,175)
Capital and reserves
Called up share capital 10 10
Profit and loss account 7,844 (9,185)
Shareholder's funds 7,854 (9,175)
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 member has 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 A Harmal
Director
Approved by the board on 27 July 2022
AHAJ64 LTD
Notes to the Accounts
for the year ended 30 June 2022
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
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.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 6 5
3 Intangible fixed assets £
Goodwill:
Cost
At 1 July 2021 50,000
At 30 June 2022 50,000
Amortisation
At 1 July 2021 5,000
Provided during the year 5,000
At 30 June 2022 10,000
Net book value
At 30 June 2022 40,000
At 30 June 2021 45,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2021 30,701
Additions 4,271
At 30 June 2022 34,972
Depreciation
At 1 July 2021 6,140
Charge for the year 6,994
At 30 June 2022 13,134
Net book value
At 30 June 2022 21,838
At 30 June 2021 24,561
5 Debtors 2022 2021
£ £
Trade debtors 2,262 1,796
Prepayments 35,158 36,646
37,420 38,442
6 Creditors: amounts falling due within one year 2022 2021
£ £
Bank loans and overdrafts 8,333 8,333
Trade creditors 20,434 6,977
Taxation and social security costs 4,430 968
Directors current account 47,778 72,306
80,975 88,584
7 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 31,667 41,667
8 Other information
AHAJ64 LTD is a private company limited by shares and incorporated in England. Its registered office is:
27 Melcombe Street
London
NW1 6AG.
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