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REGISTERED NUMBER: 06477441 (England and Wales)











Financial Statements

for the Year Ended 28 February 2022

for

A J Trailer Maintenance Limited

A J Trailer Maintenance Limited (Registered number: 06477441)






Contents of the Financial Statements
for the Year Ended 28 February 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


A J Trailer Maintenance Limited

Company Information
for the Year Ended 28 February 2022







DIRECTORS: A J Jermyn
K A Jermyn





SECRETARY: A J Jermyn





REGISTERED OFFICE: Eldo House
Kempson Way
Bury St Edmunds
Suffolk
IP32 7AR





BUSINESS ADDRESS: Shepherds Grove Industrial Estate
Stanton
Bury St Edmunds
Suffolk
IP31 2BG





REGISTERED NUMBER: 06477441 (England and Wales)





ACCOUNTANTS: Knights Lowe
Chartered Accountants
Eldo House, Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR

A J Trailer Maintenance Limited (Registered number: 06477441)

Balance Sheet
28 February 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 66,536 54,370

CURRENT ASSETS
Stocks 25,000 17,000
Debtors 5 58,520 76,635
Cash at bank 98,917 62,675
182,437 156,310
CREDITORS
Amounts falling due within one year 6 39,221 44,445
NET CURRENT ASSETS 143,216 111,865
TOTAL ASSETS LESS CURRENT LIABILITIES 209,752 166,235

PROVISIONS FOR LIABILITIES 7 11,960 9,493
NET ASSETS 197,792 156,742

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 197,692 156,642
SHAREHOLDERS' FUNDS 197,792 156,742

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

A J Trailer Maintenance Limited (Registered number: 06477441)

Balance Sheet - continued
28 February 2022


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 Board of Directors and authorised for issue on 26 August 2022 and were signed on its behalf by:




A J Jermyn - Director



K A Jermyn - Director


A J Trailer Maintenance Limited (Registered number: 06477441)

Notes to the Financial Statements
for the Year Ended 28 February 2022

1. STATUTORY INFORMATION

A J Trailer Maintenance 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 5 years straight line
Plant & machinery - 25% on reducing balance
Office equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Workshop - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

A J Trailer Maintenance Limited (Registered number: 06477441)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2022

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other accounts receivable and payable, and loans from banks or other related parties.

Debt instruments, such as loans and other accounts receivable and payable, are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, such as the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate, or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payment discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

A J Trailer Maintenance Limited (Registered number: 06477441)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2022

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Impairment
At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments but excluding investment properties, are assessed to determine whether there is an indication that the carrying amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated recoverable amount and an impairment loss is recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2021 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2021 165,915
Additions 31,245
At 28 February 2022 197,160
DEPRECIATION
At 1 March 2021 111,545
Charge for year 19,079
At 28 February 2022 130,624
NET BOOK VALUE
At 28 February 2022 66,536
At 28 February 2021 54,370

A J Trailer Maintenance Limited (Registered number: 06477441)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2022

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 54,890 71,154
Amounts recoverable on contract 3,181 4,798
Other debtors 449 683
58,520 76,635

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 5,183 5,791
Taxation and social security 29,283 31,661
Other creditors 4,755 6,993
39,221 44,445

Included in other creditors is an amount owed to directors.

7. PROVISIONS FOR LIABILITIES
2022 2021
£    £   
Deferred tax
Accelerated capital allowances 11,960 9,493

Deferred
tax
£   
Balance at 1 March 2021 9,493
Movement in provision 2,467
Balance at 28 February 2022 11,960

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100 Ordinary £1 100 100