REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended |
31 December 2023 |
for |
AJMT Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended |
31 December 2023 |
for |
AJMT Limited |
AJMT Limited (Registered number: 08704518) |
Contents of the Financial Statements |
for the Year Ended 31 December 2023 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
AJMT Limited (Registered number: 08704518) |
Balance Sheet |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
Investments | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
AJMT Limited (Registered number: 08704518) |
Balance Sheet - continued |
31 December 2023 |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
AJMT Limited (Registered number: 08704518) |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
AJMT Limited is a |
Registered number: |
Registered office: |
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 UK and Republic of Ireland" and 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 give a true and fair view. |
The financial statements have been prepared under the historical cost convention modified to include certain items at fair value. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts and value added tax. |
Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. |
Financial instruments |
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument. |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit and loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. |
Other debtors, cash and bank balances and other creditors are classified as basic financial instruments and are measured at the amortised cost equivalent to the undiscounted amount of cash or other consideration expected to be paid or received. |
AJMT Limited (Registered number: 08704518) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Current tax, including UK corporation tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. |
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date and are expected to apply to the reversal of the timing difference. |
Current tax assets and liabilities are offset only when there is a legally enforceable right to set off the amounts and the company intends either to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Deferred tax assets and liabilities are offset only if: (a) the company has a legally enforceable right to set off current tax assets against current liabilities; and (b) the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same tax authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously, in each future period in which significant amounts of deferred tax liabilities or assets are expected to be settled or recovered. |
Impairment of assets |
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit and loss as described below. |
Non financial assets |
An asset is impaired when there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. |
Financial assets |
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were sold at the reporting date. |
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had impairment not been recognised. |
AJMT Limited (Registered number: 08704518) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
2. | ACCOUNTING POLICIES - continued |
Investments |
Fixed asset investments include interest in other participating interests which are included at cost less impairment. |
Fixed asset investments also include listed investments held at fair value. The (gain)/loss on revaluation is recognised through the profit and loss statement. Investments listed on a recognised stock exchange are valued at the mid-market value at the balance sheet date. |
Current asset investments comprise unlisted shares which are included at cost less impairment. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | FIXED ASSET INVESTMENTS |
Interest |
in other |
participating | Other |
interests | investments | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 January 2023 | 111,685 | 503,870 |
Additions | - | 550,469 |
Disposals | - | ( |
) | (264,783 | ) |
Revaluations | - | 62,960 |
At 31 December 2023 | 111,685 | 852,516 |
PROVISIONS |
At 1 January 2023 | 92,000 | - | 92,000 |
Provision for year | 25 | - | 25 |
At 31 December 2023 | 92,025 | - | 92,025 |
NET BOOK VALUE |
At 31 December 2023 | 19,660 | 760,491 |
At 31 December 2022 | 19,685 | 411,870 |
Cost or valuation at 31 December 2023 is represented by: |
Interest |
in other |
participating | Other |
interests | investments | Totals |
£ | £ | £ |
Valuation in 2023 | - | 61,551 | 61,551 |
Cost | 111,685 | 679,280 | 790,965 |
111,685 | 740,831 | 852,516 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
AJMT Limited (Registered number: 08704518) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
6. | CURRENT ASSET INVESTMENTS |
2023 | 2022 |
£ | £ |
Unlisted investments | 74,739 | 74,739 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed to participating interests | 10,345 | 1,828 |
Tax | ( |
) |
Directors' loan accounts | - | 6,889 |
Accruals and deferred income |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
A Ordinary | £1 | 50 | 50 |
B Ordinary | £1 | 50 | 50 |
100 | 100 |
9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
Amounts owed to the company at the year end by the directors on interest free loans is £34,346 (£6,889 amounts owed to the directors in 2022). All amounts have been repaid within 9 months of the year end. |