Company registration number 05250236 (England and Wales)
JOHN APRAHAMIAN & COMPANY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
JOHN APRAHAMIAN & COMPANY LTD
COMPANY INFORMATION
Directors
Mr J F Aprahamian
Mrs B M Aprahamian
Mr W G F Aprahamian
Secretary
Mrs B M Aprahamian
Company number
05250236
Registered office
Walnut Farm
Church Street
Blakesley
Towcester
Northamptonshire
United Kingdom
NN12 8RA
Accountants
Ellacotts LLP
Countrywide House
23 West Bar
Banbury
Oxfordshire
England
OX16 9SA
Bankers
NatWest
173 Watling Street West
Towcester
Northamptonshire
NN12 6BX
JOHN APRAHAMIAN & COMPANY LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
JOHN APRAHAMIAN & COMPANY LTD
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF JOHN APRAHAMIAN & COMPANY LTD FOR THE YEAR ENDED 31 JANUARY 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of John Aprahamian & Company Ltd for the year ended 31 January 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the Board of Directors of John Aprahamian & Company Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of John Aprahamian & Company Ltd and state those matters that we have agreed to state to the Board of Directors of John Aprahamian & Company Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than John Aprahamian & Company Ltd and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that John Aprahamian & Company Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of John Aprahamian & Company Ltd. You consider that John Aprahamian & Company Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of John Aprahamian & Company Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ellacotts LLP
Chartered Accountants
Countrywide House
23 West Bar
Banbury
Oxfordshire
England
OX16 9SA
Date:
7 August 2024
JOHN APRAHAMIAN & COMPANY LTD
BALANCE SHEET
AS AT 31 JANUARY 2024
31 January 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
5
685,219
633,732
Investment property
6
300,000
250,000
985,219
883,732
Current assets
Stocks
31,386
33,168
Debtors
7
426,625
513,324
Cash at bank and in hand
793,575
981,304
1,251,586
1,527,796
Creditors: amounts falling due within one year
8
(626,546)
(713,406)
Net current assets
625,040
814,390
Total assets less current liabilities
1,610,259
1,698,122
Creditors: amounts falling due after more than one year
9
(14,139)
(26,211)
Provisions for liabilities
(45,998)
(30,389)
Net assets
1,550,122
1,641,522
Capital and reserves
Called up share capital
10
100
100
Revaluation reserve
126,336
76,336
Profit and loss reserves
1,423,686
1,565,086
Total equity
1,550,122
1,641,522

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

JOHN APRAHAMIAN & COMPANY LTD
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024
31 January 2024
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 7 August 2024 and are signed on its behalf by:
Mr J F Aprahamian
Director
Company Registration No. 05250236
JOHN APRAHAMIAN & COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 4 -
1
Accounting policies
Company information

John Aprahamian & Company Ltd is a private company limited by shares incorporated in England and Wales. The registered office is given on the company information page.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold property
none
Tenant's improvements
10% straight line
Plant and machinery
20% reducing balance
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.6
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

JOHN APRAHAMIAN & COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 5 -
1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
8
6
JOHN APRAHAMIAN & COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 6 -
4
Intangible fixed assets
Goodwill
£
Cost
At 1 February 2023 and 31 January 2024
211,000
Amortisation and impairment
At 1 February 2023 and 31 January 2024
211,000
Carrying amount
At 31 January 2024
-
0
At 31 January 2023
-
0
5
Tangible fixed assets
Freehold property
Tenant's improvements
Plant and machinery
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 February 2023
562,480
69,886
19,655
57,756
709,777
Additions
49,043
-
0
18,970
-
0
68,013
At 31 January 2024
611,523
69,886
38,625
57,756
777,790
Depreciation and impairment
At 1 February 2023
-
0
39,272
9,861
26,912
76,045
Depreciation charged in the year
-
0
3,061
5,753
7,712
16,526
At 31 January 2024
-
0
42,333
15,614
34,624
92,571
Carrying amount
At 31 January 2024
611,523
27,553
23,011
23,132
685,219
At 31 January 2023
562,480
30,614
9,794
30,844
633,732
6
Investment property
2024
£
Fair value
At 1 February 2023
250,000
Revaluations
50,000
At 31 January 2024
300,000

Investment property was valued by the directors of John Aprahamian & Company Ltd on 31 January 2024 on the basis of market value.

JOHN APRAHAMIAN & COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 7 -
7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
369,064
490,754
Corporation tax recoverable
31,998
-
0
Other debtors
17,596
15,816
Prepayments and accrued income
7,967
6,754
426,625
513,324
8
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
11,831
20,989
Trade creditors
507,877
463,675
Corporation tax
-
0
59,854
Other taxation and social security
2,059
1,756
Other creditors
88,239
151,032
Accruals
16,540
16,100
626,546
713,406

Bank loans are secured by the company.

 

Clydesdale Bank has a legal charge in place over the company's assets in relation to the loan of £1,947 (2023 - £11,347).

 

The Bounce Back loan of £9,884 (2023 - £9,642) is fully guaranteed by the government.

9
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
14,139
26,211

Bank loans are secured by the company.

 

The Bounce Back loan of £14,139 (2023 - £24,264) is fully guaranteed by the government.

10
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
100  of £1 each
100
100
JOHN APRAHAMIAN & COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 8 -
11
Directors' transactions

Dividends totalling £0 (2023 - £140,000) were paid in the year in respect of shares held by the company's directors.

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