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REGISTERED NUMBER: 06543575 (England and Wales)















AJ JAMES & SONS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022






AJ JAMES & SONS LIMITED (REGISTERED NUMBER: 06543575)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 MARCH 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AJ JAMES & SONS LIMITED

COMPANY INFORMATION
for the Year Ended 31 MARCH 2022







DIRECTORS: Mr Aled James
Mr W O James
Mrs E James



SECRETARY: Mr Aled James



REGISTERED OFFICE: Blaenpant
Bancyffordd
Llandysul
Carmarthenshire
SA44 4SB



REGISTERED NUMBER: 06543575 (England and Wales)



ACCOUNTANTS: D M B Davies Limited
Broyan House
Priory Street
Cardigan
Ceredigion
SA43 1BZ



BANKERS: Lloyds Bank plc
43 King Street
Carmarthen
Carmarthenshire
SA31 1BW

AJ JAMES & SONS LIMITED (REGISTERED NUMBER: 06543575)

BALANCE SHEET
31 MARCH 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 221,488 168,930

CURRENT ASSETS
Stocks 204,824 189,211
Debtors 5 50,066 23,824
Investments 6 41,508 41,508
Cash at bank - 37,348
296,398 291,891
CREDITORS
Amounts falling due within one year 7 420,733 420,725
NET CURRENT LIABILITIES (124,335 ) (128,834 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

97,153

40,096

CREDITORS
Amounts falling due after more than one
year

8

(40,304

)

-

PROVISIONS FOR LIABILITIES (29,775 ) (20,489 )
NET ASSETS 27,074 19,607

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 27,072 19,605
SHAREHOLDERS' FUNDS 27,074 19,607

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

AJ JAMES & SONS LIMITED (REGISTERED NUMBER: 06543575)

BALANCE SHEET - continued
31 MARCH 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 7 September 2022 and were signed on its behalf by:





Mr Aled James - Director


AJ JAMES & SONS LIMITED (REGISTERED NUMBER: 06543575)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 MARCH 2022


1. STATUTORY INFORMATION

AJ James & Sons 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.

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.
Plant and machinery etc - 15% on reducing balance and 10% 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

AJ JAMES & SONS LIMITED (REGISTERED NUMBER: 06543575)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MARCH 2022


4. TANGIBLE FIXED ASSETS
Freehold Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST
At 1 April 2021 21,330 622,257 1,307 644,894
Additions - 107,947 - 107,947
Disposals - (20,100 ) - (20,100 )
At 31 March 2022 21,330 710,104 1,307 732,741
DEPRECIATION
At 1 April 2021 - 475,201 763 475,964
Charge for year - 35,235 54 35,289
At 31 March 2022 - 510,436 817 511,253
NET BOOK VALUE
At 31 March 2022 21,330 199,668 490 221,488
At 31 March 2021 21,330 147,056 544 168,930

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 23,864 17,378
Other debtors 26,202 6,446
50,066 23,824

6. CURRENT ASSET INVESTMENTS
2022 2021
£    £   
Unlisted investments 41,508 41,508

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 156,890 167,810
Hire purchase contracts 18,430 -
Trade creditors 58,897 20,309
Taxation and social security - 14,765
Other creditors 186,516 217,841
420,733 420,725

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Hire purchase contracts 40,304 -

AJ JAMES & SONS LIMITED (REGISTERED NUMBER: 06543575)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MARCH 2022


9. RELATED PARTY DISCLOSURES

According to the directors, there were no material related party transactions during the year.

10. ULTIMATE CONTROLLING PARTY

Ultimate control of the Company is exercised by the directors and shareholders equally.