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Registration number: 10569235

ASJM Properties Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2022

 

ASJM Properties Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

ASJM Properties Limited

Company Information

Directors

Mrs Sarah Claire Banks

Mr Andrew Banks

Registered office

3 Kingsbrooke Drive
Elland
Halifax
HX5 0DS

Accountants

Hawley Business Solutions Limited
Certified
17 Healey Wood Crescent
Brighouse
HD6 3RP

 

ASJM Properties Limited

(Registration number: 10569235)
Balance Sheet as at 31 January 2022

Note

2022
£

2021
£

Fixed assets

 

Investment property

4

93,360

93,360

Current assets

 

Cash at bank and in hand

 

6,892

6,892

Creditors: Amounts falling due within one year

5

(26,725)

(24,032)

Net current liabilities

 

(19,833)

(17,140)

Total assets less current liabilities

 

73,527

76,220

Creditors: Amounts falling due after more than one year

5

(73,440)

(73,440)

Net assets

 

87

2,780

Capital and reserves

 

Called up share capital

6

100

100

Profit and loss account

(13)

2,680

Shareholders' funds

 

87

2,780

For the financial year ending 31 January 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 1 September 2022 and signed on its behalf by:
 

.........................................

Mr Andrew Banks
Director

 

ASJM Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
3 Kingsbrooke Drive
Elland
Halifax
HX5 0DS
England

These financial statements were authorised for issue by the Board on 1 September 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

ASJM Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2021 - 0).

4

Investment properties

2022
£

At 1 February

93,360

At 31 January

93,360

There has been no valuation of investment property by an independent valuer.

 

ASJM Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022

5

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Taxation and social security

-

346

Accruals and deferred income

420

420

Other creditors

26,305

23,266

26,725

24,032

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

7

73,440

73,440

6

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

7

Loans and borrowings

2022
£

2021
£

Non-current loans and borrowings

Bank borrowings

73,440

73,440

8

Financial instruments

Categorisation of financial instruments

2022
 £

2021
 £

Impairment

 

ASJM Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022

Investment Property
The amount of the impairment loss during the year is £Nil (2021 - £Nil).