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REGISTERED NUMBER: 09600587 (England and Wales)


















AJP ASSETS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






AJP ASSETS LTD (REGISTERED NUMBER: 09600587)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AJP ASSETS LTD

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: R Pankhania
Mrs P Pankhania





REGISTERED OFFICE: 1 Bell Street
2nd Floor
London
NW15BY





REGISTERED NUMBER: 09600587 (England and Wales)





ACCOUNTANTS: DSJ Partners (UK) Limited
2nd Floor
1 Bell Street
London
NW1 5BY

AJP ASSETS LTD (REGISTERED NUMBER: 09600587)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 878,497 961,065

CURRENT ASSETS
Debtors 5 1,795,347 1,761,223
Cash at bank and in hand 326 9,984
1,795,673 1,771,207
CREDITORS
Amounts falling due within one year 6 (830,962 ) (510,914 )
NET CURRENT ASSETS 964,711 1,260,293
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,843,208

2,221,358

CREDITORS
Amounts falling due after more than one
year

7

(2,822,072

)

(2,916,672

)
NET LIABILITIES (978,864 ) (695,314 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (978,964 ) (695,414 )
SHAREHOLDERS' FUNDS (978,864 ) (695,314 )

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

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

AJP ASSETS LTD (REGISTERED NUMBER: 09600587)

BALANCE SHEET - continued
31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 June 2024 and were signed on its behalf by:





R Pankhania - Director


AJP ASSETS LTD (REGISTERED NUMBER: 09600587)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

AJP Assets Ltd is a private company, limited by shares , registered in England and Wales. 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.
Short leasehold - over the period of the lease evenly
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance

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

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
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.

AJP ASSETS LTD (REGISTERED NUMBER: 09600587)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued

Going concern
On the basis that the directors are satisfied that the company can meet its obligation as and when they fall due and that the company has sufficient support from its Directors and shareholders, the accounts are prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 83 (2022 - 46 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 January 2023 171,833 921,697 205,779
Additions - - 2,785
At 31 December 2023 171,833 921,697 208,564
DEPRECIATION
At 1 January 2023 11,583 254,194 84,394
Charge for year 6,873 100,126 24,834
At 31 December 2023 18,456 354,320 109,228
NET BOOK VALUE
At 31 December 2023 153,377 567,377 99,336
At 31 December 2022 160,250 667,503 121,385

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 - 20,675 1,319,984
Additions 57,705 3,377 63,867
At 31 December 2023 57,705 24,052 1,383,851
DEPRECIATION
At 1 January 2023 - 8,748 358,919
Charge for year 11,541 3,061 146,435
At 31 December 2023 11,541 11,809 505,354
NET BOOK VALUE
At 31 December 2023 46,164 12,243 878,497
At 31 December 2022 - 11,927 961,065

AJP ASSETS LTD (REGISTERED NUMBER: 09600587)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 68,385 49,106
Amounts receivable in respect of hire
purchase contracts

4,263

-
Other debtors 1,722,699 1,712,117
1,795,347 1,761,223

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 3,759 -
Finance leases 12,288 -
Trade creditors 98,733 69,005
Amounts owed to group undertakings 276,641 215,278
Taxation and social security 22,181 19,791
Other creditors 417,360 206,840
830,962 510,914

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Finance leases 35,032 -
Amounts owed to group undertakings 1,383,205 1,324,113
Other creditors 1,403,835 1,592,559
2,822,072 2,916,672

8. RELATED PARTY DISCLOSURES

Blue Butterfly Pension Fund
The relationship is that the Directors and ultimate shareholder of AJP Assets Ltd are members of the pension fund and no interest is charged on the loan provided.


2023 2022
£ £
Amount due from related party at the balance sheet date 1,711,512 1,711,512


Rajan Pankhania
Mr R Pankhania is a Director of the company. During the year £108,407 (2022:£62,182) of interest has been accrued on the loan.


2023 2022
£ £
Amount due to related party at the balance sheet date 1,684,602 1,592,559