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REGISTERED NUMBER: SC361262 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 August 2023

for

AJS Contract Cars Ltd.

AJS Contract Cars Ltd. (Registered number: SC361262)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AJS Contract Cars Ltd.

Company Information
for the Year Ended 31 August 2023







DIRECTORS: Miss T L J Smith
Mr S J Smith





REGISTERED OFFICE: Eastfield
Blackhills
Peterhead
Aberdeenshire
AB42 3LB





REGISTERED NUMBER: SC361262 (Scotland)





ACCOUNTANTS: SBP
Accountants
Glebefield House
21 Links Terrace
Peterhead
Aberdeenshire
AB42 2XA

AJS Contract Cars Ltd. (Registered number: SC361262)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 612,102 650,376

CURRENT ASSETS
Debtors 5 62,521 47,799
Cash in hand 141 329
62,662 48,128
CREDITORS
Amounts falling due within one year 6 323,100 345,832
NET CURRENT LIABILITIES (260,438 ) (297,704 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

351,664

352,672

CREDITORS
Amounts falling due after more than one
year

7

25,406

37,601
NET ASSETS 326,258 315,071

CAPITAL AND RESERVES
Called up share capital 480 480
Retained earnings 325,778 314,591
SHAREHOLDERS' FUNDS 326,258 315,071

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 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.

AJS Contract Cars Ltd. (Registered number: SC361262)

Balance Sheet - continued
31 August 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 November 2023 and were signed on its behalf by:





Miss T L J Smith - Director


AJS Contract Cars Ltd. (Registered number: SC361262)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

AJS Contract Cars Ltd. is a private company, limited by shares , registered in Scotland. 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.
Freehold property - 2% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets are included at cost less depreciation and impairment. The residual value is reassessed at the end of each accounting period.

Taxation
Taxation for the year comprises current tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 41 (2022 - 41 ) .

AJS Contract Cars Ltd. (Registered number: SC361262)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 September 2022 575,502 22,960 19,834
Disposals - - -
At 31 August 2023 575,502 22,960 19,834
DEPRECIATION
At 1 September 2022 19,962 19,969 16,598
Charge for year 9,984 748 809
Eliminated on disposal - - -
At 31 August 2023 29,946 20,717 17,407
NET BOOK VALUE
At 31 August 2023 545,556 2,243 2,427
At 31 August 2022 555,540 2,991 3,236

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 September 2022 996,148 25,934 1,640,378
Disposals (178,256 ) - (178,256 )
At 31 August 2023 817,892 25,934 1,462,122
DEPRECIATION
At 1 September 2022 911,972 21,501 990,002
Charge for year 19,836 2,061 33,438
Eliminated on disposal (173,420 ) - (173,420 )
At 31 August 2023 758,388 23,562 850,020
NET BOOK VALUE
At 31 August 2023 59,504 2,372 612,102
At 31 August 2022 84,176 4,433 650,376

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 44,206 40,225
Other debtors 18,315 7,574
62,521 47,799

AJS Contract Cars Ltd. (Registered number: SC361262)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans and overdrafts (see note 8) 226,828 207,182
Trade creditors 23,963 8,253
Taxation and social security 14,188 47,598
Other creditors 58,121 82,799
323,100 345,832

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.23 31.8.22
£    £   
Bank loans (see note 8) 25,406 37,601

8. LOANS

An analysis of the maturity of loans is given below:

31.8.23 31.8.22
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 214,633 37,311
Bank loans 12,195 169,871
226,828 207,182

Amounts falling due between one and two years:
Bank loans - 1-2 years 12,195 12,195

Amounts falling due between two and five years:
Bank loans - 2-5 years 13,211 25,406

9. SECURED DEBTS

The following secured debts are included within creditors:

31.8.23 31.8.22
£    £   
Bank overdrafts 214,633 37,311
Bank loans 37,601 207,472
252,234 244,783

Bank loans and overdrafts are secured by a standard security and floating charge over the land and property of the company.

AJS Contract Cars Ltd. (Registered number: SC361262)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2023 and 31 August 2022:

31.8.23 31.8.22
£    £   
Miss T L J Smith
Balance outstanding at start of year (20,963 ) (50,458 )
Amounts advanced 15,630 29,495
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (5,333 ) (20,963 )

Mr S J Smith
Balance outstanding at start of year (15,146 ) (9,641 )
Amounts advanced 15,146 11,995
Amounts repaid - (17,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (15,146 )

11. ULTIMATE CONTROLLING PARTY

The company is controlled by the shareholders.