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REGISTERED NUMBER: 05625984 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 December 2023

for

OAJ Limited

OAJ Limited (Registered number: 05625984)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


OAJ Limited (Registered number: 05625984)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 141,658 143,424
141,658 143,424

CURRENT ASSETS
Debtors 6 2,302 5,088
Cash at bank 62,170 45,502
64,472 50,590
CREDITORS
Amounts falling due within one year 7 63,102 51,609
NET CURRENT ASSETS/(LIABILITIES) 1,370 (1,019 )
TOTAL ASSETS LESS CURRENT LIABILITIES 143,028 142,405

CREDITORS
Amounts falling due after more than one year 8 (47,440 ) (52,922 )

PROVISIONS FOR LIABILITIES (1,006 ) -
NET ASSETS 94,582 89,483

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 94,580 89,481
SHAREHOLDERS' FUNDS 94,582 89,483

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.

OAJ Limited (Registered number: 05625984)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 September 2024 and were signed on its behalf by:





Mrs J Walton - Director


OAJ Limited (Registered number: 05625984)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

OAJ Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05625984

Registered office: The Old Studio
33b Marsh Street
Stafford
ST16 3BQ

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Revenue is recognised as the company becomes entitled to consideration for the services supplied. Therefore, turnover also includes the element of work completed but not yet invoiced.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of the business, was amortised over its estimated useful life.

Additional purchases which involve an element of Goodwill was amortised over its estimated useful life of three years.

Goodwill has now been fully amortised.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


OAJ Limited (Registered number: 05625984)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 212,834
AMORTISATION
At 1 January 2023
and 31 December 2023 212,834
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023
and 31 December 2023 136,366 22,565 26,413 185,344
DEPRECIATION
At 1 January 2023 - 19,487 22,433 41,920
Charge for year - 770 996 1,766
At 31 December 2023 - 20,257 23,429 43,686
NET BOOK VALUE
At 31 December 2023 136,366 2,308 2,984 141,658
At 31 December 2022 136,366 3,078 3,980 143,424

OAJ Limited (Registered number: 05625984)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 2,302 5,088

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,382 9,086
Trade creditors - 2,541
Taxation and social security 21,797 12,524
Other creditors 31,923 27,458
63,102 51,609

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 47,440 52,922

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 22,640 28,122

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 53,640 59,122

As of 22nd December 2015, National Westminster Bank holds a fixed and floating charge over all properties and undertakings of the company. This charge contains a negative pledge.

As of 2nd February 2016, National Westminster Bank holds a fixed charge over 42B Radford Street, Stone, Staffordshire. This charge contains a negative pledge.

10. FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £18,677 (2022 £17,203). This financial commitment represents the total amount of payments remaining on a lease ending in 2027.