ASTON & JAMES OFFICE SUPPLIES LIMITED | |||||||||||
UNAUDITED FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED | |||||||||||
30 JUNE 2023 | |||||||||||
Company Registration Number: 07923532 | |||||||||||
ASTON & JAMES OFFICE SUPPLIES LIMITED | |||||||||||
UNAUDITED FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 30 JUNE 2023 | |||||||||||
CONTENTS | PAGES | ||||||||||
Company information | 1 | ||||||||||
Balance sheet | 2 to 3 | ||||||||||
Notes to the financial statements | 4 to 10 | ||||||||||
ASTON & JAMES OFFICE SUPPLIES LIMITED | |||||||||||
COMPANY INFORMATION | |||||||||||
FOR THE YEAR ENDED 30 JUNE 2023 | |||||||||||
DIRECTOR | |||||||||||
SECRETARY | |||||||||||
REGISTERED OFFICE | |||||||||||
COMPANY REGISTRATION NUMBER | |||||||||||
07923532 England and Wales | |||||||||||
ASTON & JAMES OFFICE SUPPLIES LIMITED | |||||||||||
BALANCE SHEET | |||||||||||
AS AT 30 JUNE 2023 | |||||||||||
Notes | 2023 | 2022 | |||||||||
£ | £ | ||||||||||
FIXED ASSETS | |||||||||||
Intangible assets | 5 | ||||||||||
Tangible assets | 6 | ||||||||||
CURRENT ASSETS | |||||||||||
Stock | |||||||||||
Debtors | 7 | ||||||||||
Cash at bank and in hand | |||||||||||
CREDITORS: Amounts falling due within one year | 8 | ||||||||||
NET CURRENT ASSETS | |||||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | |||||||||||
CREDITORS: Amounts falling due after more than one year | 9 | ||||||||||
Provisions for liabilities and charges | |||||||||||
NET ASSETS | |||||||||||
CAPITAL AND RESERVES | |||||||||||
Called up share capital | |||||||||||
Distributable profit and loss account | |||||||||||
Capital redemption reserve | 199,990 | 199,990 | |||||||||
SHAREHOLDERS' FUNDS | |||||||||||
ASTON & JAMES OFFICE SUPPLIES LIMITED | |||||||||||
BALANCE SHEET | |||||||||||
AS AT 30 JUNE 2023 | |||||||||||
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report. | |||||||||||
Signed on behalf of the board | |||||||||||
D Aston | |||||||||||
Director | |||||||||||
Date approved by the board: |
|||||||||||
ASTON & JAMES OFFICE SUPPLIES LIMITED | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 30 JUNE 2023 | |||||||||||
1 | GENERAL INFORMATION | ||||||||||
Aston & James Office Supplies Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is: | |||||||||||
Unit 1 Nimrod Business Park | |||||||||||
De Havilland Way | |||||||||||
Witney | |||||||||||
Oxon | |||||||||||
OX29 0YG | |||||||||||
2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||||||||||
Basis of preparation of financial statements | |||||||||||
Revenue recognition | |||||||||||
Turnover is measured at the fair value of consideration received or receivable and represents the sale of stationery and office supplies, stated net of trade discounts and value added tax. | |||||||||||
The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity. |
Grant Income | |||||||||||
Grant income of £nil (2022 - £11,277) was recognised during the year, received from the governments Job Retention Scheme. This was a scheme introduced due to the COVID-19 pandemic, where employers are able to claim grants of up to 80% of furloughed employees wages costs. | |||||||||||
ASTON & JAMES OFFICE SUPPLIES LIMITED | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 30 JUNE 2023 | |||||||||||
2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…) | ||||||||||
Intangible fixed assets | |||||||||||
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. At acquisition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. |
Goodwill amortisation is charged on a straight line basis so as to write off the cost of the asset, less its residual value assumed to be zero, over its useful economic life, which is estimated to be (10) years. | |||||||||||
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new expectations. |
Tangible fixed assets | |||||||||||
Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses. | |||||||||||
Depreciation has been provided at the following rate so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives. | |||||||||||
Freehold property | |||||||||||
Fixtures, fittings, tools and equipment | |||||||||||
Motor vehicles | |||||||||||
On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses. | |||||||||||
Financial Instruments | |||||||||||
The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date. |
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. | |||||||||||
ASTON & JAMES OFFICE SUPPLIES LIMITED | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 30 JUNE 2023 | |||||||||||
2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…) | ||||||||||
Impairment of non-financial assets | |||||||||||
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account. | |||||||||||
Stocks are assessed for impairment at each reporting date. The carrying amount of each item of stock, or group of similar items, is compared with its selling price less cost to complete and sell. If an item of stock, or group of similar items, is impaired its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in the profit and loss account. | |||||||||||
If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account. |
Stock | |||||||||||
Stock has been valued at the lower of cost and estimated selling price less cost to complete and sell, after making due allowance for obsolete and slow-moving items. Cost comprises the cost of goods purchased valued on a first in first out basis. | |||||||||||
The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised |
Debtors | |
Short term debtors are measured at transaction price, less any impairment. | |||||||||||
Creditors | |||||||||||
Leases | |||||||||||
ASTON & JAMES OFFICE SUPPLIES LIMITED | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 30 JUNE 2023 | |||||||||||
2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…) | ||||||||||
Taxation | |||||||||||
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 taxable profits. | |||||||||||
Deferred tax is measured using 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. | |||||||||||
Pensions | |||||||||||
3 | CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS | ||||||||||
No significant accounting estimates and judgements have had to be made by the director in preparing these financial statements. | |||||||||||
4 | EMPLOYEES | ||||||||||
The average number of persons employed by the company (including directors) during the year was: | |||||||||||
2023 | 2022 | ||||||||||
Average number of employees | |||||||||||
ASTON & JAMES OFFICE SUPPLIES LIMITED | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 30 JUNE 2023 | |||||||||||
5 | INTANGIBLE FIXED ASSETS | ||||||||||
Goodwill | |||||||||||
£ | |||||||||||
Cost | |||||||||||
At 1 July 2022 | |||||||||||
At 30 June 2023 | |||||||||||
Accumulated amortisation and impairments | |||||||||||
At 1 July 2022 | |||||||||||
Charge for year | |||||||||||
At 30 June 2023 | |||||||||||
Net book value | |||||||||||
At 1 July 2022 | |||||||||||
At 30 June 2023 | |||||||||||
6 | TANGIBLE ASSETS | ||||||||||
Freehold property | Fixtures, fittings, tools and equipment | Motor vehicles | Total | ||||||||
£ | £ | £ | £ | ||||||||
Cost | |||||||||||
At 1 July 2022 | |||||||||||
Additions | - | - | |||||||||
Disposals | - | ( |
- | ( |
|||||||
At 30 June 2023 | |||||||||||
Accumulated depreciation | |||||||||||
At 1 July 2022 | |||||||||||
Charge for year | |||||||||||
Disposals | - | ( |
- | ( |
|||||||
At 30 June 2023 | |||||||||||
Net book value | |||||||||||
At 1 July 2022 | |||||||||||
At 30 June 2023 | 660,453 | ||||||||||
ASTON & JAMES OFFICE SUPPLIES LIMITED | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 30 JUNE 2023 | |||||||||||
7 | DEBTORS | ||||||||||
2023 | 2022 | ||||||||||
£ | £ | ||||||||||
Trade debtors | |||||||||||
Prepayments and accrued income | |||||||||||
Other debtors | |||||||||||
367,398 | 361,543 | ||||||||||
8 | CREDITORS: Amounts falling due within one year | ||||||||||
2023 | 2022 | ||||||||||
£ | £ | ||||||||||
Bank loans and overdrafts | |||||||||||
Trade creditors | |||||||||||
Taxation and social security | |||||||||||
Accruals and deferred income | |||||||||||
Other creditors | - | ||||||||||
276,742 | 296,049 | ||||||||||
9 | CREDITORS: Amounts falling due after more than one year | ||||||||||
2023 | 2022 | ||||||||||
£ | £ | ||||||||||
Bank loans and overdrafts | |||||||||||
Analysis of creditors falling due after more than five years: | |||||||||||
2023 | 2022 | ||||||||||
Aggregate of non-instalment debts that fall due for repayment after five years: | £ | £ | |||||||||
Bank loans and overdrafts | 109,780 | 180,983 | |||||||||
10 | SECURED DEBTS | ||||||||||
11 | CONTINGENCIES AND COMMITMENTS | ||||||||||
Other Commitments | |||||||||||
Amounts falling due under operating leases: | 2023 | 2022 | |||||||||
£ | £ | ||||||||||
In less than one year | |||||||||||
In more than one but less than five years | |||||||||||
50,516 | 75,072 | ||||||||||
ASTON & JAMES OFFICE SUPPLIES LIMITED | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 30 JUNE 2023 | |||||||||||
12 | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES | ||||||||||
The following director's advances, credits and guarantees took place during the year | |||||||||||
Balance at 1 July 2022 | Amounts advanced | Amounts repaid | Balance at 30 June 2023 | ||||||||
£ | £ | £ | £ | ||||||||
D Aston | - | - | |||||||||
This advance is interest free and repayable on demand. |