Company Registration No. 14075582 (England and Wales)
AJ Creative Ltd
Unaudited accounts
for the year ended 31 March 2024
AJ Creative Ltd
Statement of financial position
as at 31 March 2024
Tangible assets
27,484
13,791
Cash at bank and in hand
4,670
1,157
Creditors: amounts falling due within one year
(33,472)
(17,962)
Net current liabilities
(23,410)
(8,280)
Total assets less current liabilities
4,074
5,511
Creditors: amounts falling due after more than one year
(761)
-
Provisions for liabilities
Called up share capital
2
2
Profit and loss account
1,392
4,546
Shareholders' funds
1,394
4,548
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 3 August 2024 and were signed on its behalf by
Jessica Robinson
Director
Company Registration No. 14075582
AJ Creative Ltd
Notes to the Accounts
for the year ended 31 March 2024
AJ Creative Ltd is a private company, limited by shares, registered in England and Wales, registration number 14075582. The registered office is 10 PARK VIEW RADFORD ROAD, ROUS LENCH, EVESHAM, WR11 4UL, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance
Fixtures & fittings
3 Years Straight Line
Computer equipment
3 Years Straight Line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
AJ Creative Ltd
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2023
12,750
1,226
833
14,809
Additions
27,800
674
-
28,474
Disposals
(12,750)
-
-
(12,750)
At 31 March 2024
27,800
1,900
833
30,533
At 1 April 2023
531
256
231
1,018
Charge for the year
4,091
484
278
4,853
On disposals
(2,822)
-
-
(2,822)
At 31 March 2024
1,800
740
509
3,049
At 31 March 2024
26,000
1,160
324
27,484
At 31 March 2023
12,219
970
602
13,791
Amounts falling due within one year
Accrued income and prepayments
561
1,338
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
5,364
-
Trade creditors
(130)
4,170
Loans from directors
26,006
12,884
7
Creditors: amounts falling due after more than one year
2024
2023
AJ Creative Ltd
Notes to the Accounts
for the year ended 31 March 2024
8
Deferred taxation
2024
2023
Accelerated capital allowances
5,222
2,620
Tax losses carried forward
(3,303)
(1,657)
Provision at start of year
963
-
Charged to the profit and loss account
956
963
Provision at end of year
1,919
963
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
10
Average number of employees
During the year the average number of employees was 3 (2023: 2).