AJJ Premises Ltd 09043277 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is that of property investment. Digita Accounts Production Advanced 6.30.9574.0 true true 09043277 2022-04-01 2023-03-31 09043277 2023-03-31 09043277 bus:OrdinaryShareClass1 bus:OtherShareType 2023-03-31 09043277 core:OtherMiscellaneousReserve 2023-03-31 09043277 core:RetainedEarningsAccumulatedLosses 2023-03-31 09043277 core:ShareCapital 2023-03-31 09043277 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-03-31 09043277 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-03-31 09043277 core:CurrentFinancialInstruments 2023-03-31 09043277 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 09043277 core:Non-currentFinancialInstruments 2023-03-31 09043277 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 09043277 core:ConstructionInProgressAssetsUnderConstruction 2023-03-31 09043277 core:FurnitureFittings 2023-03-31 09043277 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 09043277 core:OfficeEquipment 2023-03-31 09043277 bus:SmallEntities 2022-04-01 2023-03-31 09043277 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 09043277 bus:FullAccounts 2022-04-01 2023-03-31 09043277 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 09043277 bus:RegisteredOffice 2022-04-01 2023-03-31 09043277 bus:Director1 2022-04-01 2023-03-31 09043277 bus:Director2 2022-04-01 2023-03-31 09043277 bus:OrdinaryShareClass1 bus:OtherShareType 2022-04-01 2023-03-31 09043277 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 09043277 core:OtherMiscellaneousReserve 2022-04-01 2023-03-31 09043277 core:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 09043277 core:RetainedEarningsAccumulatedLosses core:LandBuildings 2022-04-01 2023-03-31 09043277 core:ShareCapital 2022-04-01 2023-03-31 09043277 core:ConstructionInProgressAssetsUnderConstruction 2022-04-01 2023-03-31 09043277 core:FurnitureFittings 2022-04-01 2023-03-31 09043277 core:LandBuildings 2022-04-01 2023-03-31 09043277 core:LandBuildings core:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 09043277 core:LeaseholdImprovements 2022-04-01 2023-03-31 09043277 core:OfficeEquipment 2022-04-01 2023-03-31 09043277 countries:England 2022-04-01 2023-03-31 09043277 2022-03-31 09043277 core:OtherMiscellaneousReserve 2022-03-31 09043277 core:RetainedEarningsAccumulatedLosses 2022-03-31 09043277 core:ShareCapital 2022-03-31 09043277 core:ConstructionInProgressAssetsUnderConstruction 2022-03-31 09043277 core:FurnitureFittings 2022-03-31 09043277 core:LandBuildings core:OwnedOrFreeholdAssets 2022-03-31 09043277 core:OfficeEquipment 2022-03-31 09043277 2021-04-01 2022-03-31 09043277 2022-03-31 09043277 bus:OrdinaryShareClass1 bus:OtherShareType 2022-03-31 09043277 core:RetainedEarningsAccumulatedLosses 2022-03-31 09043277 core:ShareCapital 2022-03-31 09043277 core:HirePurchaseContracts core:CurrentFinancialInstruments 2022-03-31 09043277 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2022-03-31 09043277 core:CurrentFinancialInstruments 2022-03-31 09043277 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 09043277 core:Non-currentFinancialInstruments 2022-03-31 09043277 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 09043277 core:ConstructionInProgressAssetsUnderConstruction 2022-03-31 09043277 core:FurnitureFittings 2022-03-31 09043277 core:LandBuildings core:OwnedOrFreeholdAssets 2022-03-31 09043277 core:OfficeEquipment 2022-03-31 09043277 core:RetainedEarningsAccumulatedLosses 2021-04-01 2022-03-31 09043277 core:ShareCapital 2021-04-01 2022-03-31 09043277 2021-03-31 09043277 core:RetainedEarningsAccumulatedLosses 2021-03-31 09043277 core:ShareCapital 2021-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09043277

AJJ Premises Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

AJJ Premises Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Statement of Changes in Equity

4

Notes to the Unaudited Financial Statements

5 to 11

 

AJJ Premises Ltd

Company Information

Directors

Mr A D Roberts

Mrs R J Roberts

Registered office

2 Opeford Close
Offord Cluny
St Neots
PE19 5QA

Accountants

KRW Accountants Ltd
Chartered Accountants & Tax Advisers
The Mill
Pury Hill Business Park
Alderton Road
Towcester
NN12 7LS

 

AJJ Premises Ltd

(Registration number: 09043277)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

15,695

1,895,999

Investment property

5

4,887,273

-

 

4,902,968

1,895,999

Current assets

 

Debtors

6

4,072

13,584

Cash at bank and in hand

 

49,380

470

 

53,452

14,054

Creditors: Amounts falling due within one year

7

(1,105,133)

(1,034,267)

Net current liabilities

 

(1,051,681)

(1,020,213)

Total assets less current liabilities

 

3,851,287

875,786

Creditors: Amounts falling due after more than one year

7

(4,000,000)

(1,193,060)

Net liabilities

 

(148,713)

(317,274)

Capital and reserves

 

Called up share capital

100

100

Other reserves

275,270

-

Retained earnings

(424,083)

(317,374)

Shareholders' deficit

 

(148,713)

(317,274)

 

AJJ Premises Ltd

(Registration number: 09043277)
Balance Sheet as at 31 March 2023

For the financial year ending 31 March 2023 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 12 October 2023 and signed on its behalf by:
 

.........................................
Mrs R J Roberts
Director

 

AJJ Premises Ltd

Statement of Changes in Equity for the Year Ended 31 March 2023

Share capital
£

Non-distributable reserve
£

Retained earnings
£

Total
£

At 1 April 2022

100

-

(317,374)

(317,274)

Profit for the year

-

-

168,561

168,561

Other comprehensive income

-

-

(275,270)

(275,270)

Total comprehensive income

-

-

(106,709)

(106,709)

Transfers

-

275,270

-

275,270

At 31 March 2023

100

275,270

(424,083)

(148,713)

Share capital
£

Retained earnings
£

Total
£

At 1 April 2021

100

(150,264)

(150,164)

Loss for the year

-

(167,110)

(167,110)

At 31 March 2022

100

(317,374)

(317,274)

 

AJJ Premises Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

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

The address of its registered office is:
2 Opeford Close
Offord Cluny
St Neots
PE19 5QA

These financial statements were authorised for issue by the Board on 12 October 2023.

The company registration number is 09043277

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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom 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.

Going concern

The financial statements have been prepared on a going concern basis as the directors have agreed to support the company on a day to day basis.

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.

Tangible assets

Tangible assets are stated in the balance sheet 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.

 

AJJ Premises Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land & buildings

2% straight line

Property improvements

2% straight line

The depreciation policy of propety improvements changed in the year from 25% straight line to 2% straight line. The change in policy matches more closely the useful ecomonic life of the assets.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are 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 debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. The company subsequently considers the recoverable value of the trade debtors. When assessing impairment of trade debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

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.

 

AJJ Premises Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to the profit and loss account on a straight line basis.

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 3 (2022 - 0).

 

AJJ Premises Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Land and buildings
£

Properties under construction
 £

Fixtures and fittings
£

Office equipment
£

Cost or valuation

At 1 April 2022

1,498,932

585,069

21,178

-

Additions

-

-

-

2,007

Disposals

(1,498,932)

-

-

-

Transfers

-

(585,069)

-

-

At 31 March 2023

-

-

21,178

2,007

Depreciation

At 1 April 2022

142,325

56,946

4,704

-

Charge for the year

-

-

2,118

668

Eliminated on disposal

(142,325)

-

-

-

Transfers

-

(56,946)

-

-

At 31 March 2023

-

-

6,822

668

Carrying amount

At 31 March 2023

-

-

14,356

1,339

At 31 March 2022

1,351,402

528,123

16,474

-

 

AJJ Premises Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Total
£

Cost or valuation

At 1 April 2022

2,105,179

Additions

2,007

Disposals

(1,498,932)

Transfers

(585,069)

At 31 March 2023

23,185

Depreciation

At 1 April 2022

203,975

Charge for the year

2,786

Eliminated on disposal

(142,325)

Transfers

(56,946)

At 31 March 2023

7,490

Carrying amount

At 31 March 2023

15,695

At 31 March 2022

1,895,999

Included within the net book value of land and buildings above is £Nil (2022 - £1,351,402) in respect of freehold land and buildings.
 

5

Investment properties

2023
£

Additions

2,727,273

Transfers to and from owner-occupied property

1,884,730

Fair value adjustments

275,270

At 31 March

4,887,273


The properties were valued as part of the demerger of AJJ Premises Limited from Davidson Roberts Holdings Limited.

 

AJJ Premises Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

6

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

-

(180)

Amounts owed by related parties

-

982

Prepayments

 

575

12,782

Other debtors

 

3,497

-

   

4,072

13,584

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

10

-

107,325

Trade creditors

 

14,043

15,716

Amounts owed to group undertakings and undertakings in which the company has a participating interest

-

910,282

Taxation and social security

 

-

93

Accruals and deferred income

 

54,421

850

Other creditors

 

1,036,669

1

 

1,105,133

1,034,267

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

4,000,000

1,193,060

 

AJJ Premises Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

9

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Retained earnings
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

(275,270)

(275,270)

10

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

-

1,122,025

Hire purchase contracts

-

71,035

Other borrowings

4,000,000

-

4,000,000

1,193,060

2023
£

2022
£

Current loans and borrowings

Bank borrowings

-

59,968

Hire purchase contracts

-

47,357

-

107,325