Registered number
06588972
ACAJ Limited
Unaudited Filleted Accounts
31 May 2023
ACAJ Limited
Registered number: 06588972
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 81,256 81,360
Current assets
Debtors 4 7,350 10,000
Cash at bank and in hand 875,248 910,160
882,598 920,160
Creditors: amounts falling due within one year 5 (2,347) (48,602)
Net current assets 880,251 871,558
Total assets less current liabilities 961,507 952,918
Provisions for liabilities (15,439) (15,458)
Net assets 946,068 937,460
Capital and reserves
Called up share capital 1 1
Revaluation reserve 6 (87,854) (87,854)
Profit and loss account 1,033,921 1,025,313
Shareholders' funds 946,068 937,460
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.
A Jones
Director
Approved by the board on 24 November 2023
ACAJ Limited
Notes to the Accounts
for the year ended 31 May 2023
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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings no depreciation
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Value
At 1 June 2022 80,018 12,855 92,873
Additions - 257 257
At 31 May 2023 80,018 13,112 93,130
Depreciation
At 1 June 2022 - 11,513 11,513
Charge for the year - 361 361
At 31 May 2023 - 11,874 11,874
Net book value
At 31 May 2023 80,018 1,238 81,256
At 31 May 2022 80,018 1,342 81,360
Freehold land and buildings: 2023 2022
£ £
Historical cost 167,872 167,872
Cumulative depreciation based on historical cost - -
167,872 167,872
The investment properties are included at open market value (as valued by the director). No
depreciation is provided on the freehold investment properties. The director considers that this
accounting policy results in the accounts giving a true and fair view.
4 Debtors 2023 2022
£ £
Other debtors 7,350 10,000
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors - 1,764
Taxation and social security costs 1,948 17,103
Other creditors 399 29,735
2,347 48,602
6 Revaluation reserve 2023 2022
£ £
At 1 June 2022 (87,854) (87,854)
At 31 May 2023 (87,854) (87,854)
7 Other information
ACAJ Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit L32
MK Two Business Centre
Barton Road
Milton Keynes
MK2 3HU
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