Registered number
06042483
A J C Systems Limited
Filleted Accounts
For The Year Ended
31 March 2022
Bird & Co use only
A815
Date submitted..................................
Accepted Yes / No
Action taken
A J C Systems Limited
Registered number: 06042483
Balance Sheet
as at 31 March 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 5 4,603 5,625
Current assets
Cash at bank and in hand 47,675 13,290
Creditors: amounts falling due within one year 6 (12,974) (6,151)
Net current assets 34,701 7,139
Net assets 39,304 12,764
Capital and reserves
Called up share capital 101 101
Profit and loss account 39,203 12,663
Shareholders' funds 39,304 12,764
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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 J Cutforth
Director
Approved by the board on 26 August 2022
A J C Systems Limited
Notes to the Accounts
for the year ended 31 March 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.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Going Concern
These financial statements are prepared on the going concern basis. The directors have considered the impact that Covid-19 will have on the business and have a reasonable expectation that the company will continue in operational existence for the foreseeable future. The directors believe that the company will have sufficient funds to settle all of its liabilities as they fall due for at least 12 months from signing the accounts.
3 Employees 2022 2021
Number Number
Average number of persons employed by the company 3 3
4 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2021 10,000
At 31 March 2022 10,000
Amortisation
At 1 April 2021 10,000
At 31 March 2022 10,000
Net book value
At 31 March 2022 -
Goodwill has been written off in equal annual instalments over its estimated economic life of 10 years.
5 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2021 11,741
Additions 513
At 31 March 2022 12,254
Depreciation
At 1 April 2021 6,116
Charge for the year 1,535
At 31 March 2022 7,651
Net book value
At 31 March 2022 4,603
At 31 March 2021 5,625
6 Creditors: amounts falling due within one year 2022 2021
£ £
Trade creditors 570 570
Taxation and social security costs 10,393 4,194
Other creditors 2,011 1,387
12,974 6,151
8 Other information
A J C Systems Limited is a private company limited by shares and incorporated in England. Its registered office is:
3 Allerton Close
Barnack
Stamford
Lincs
PE9 3EJ
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