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REGISTERED NUMBER: 03899578 (England and Wales)


















A.J.WORLDWIDE SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






A.J.WORLDWIDE SERVICES LIMITED (REGISTERED NUMBER: 03899578)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Statement of Financial Position 1 to 2

Notes to the Financial Statements 3 to 6


A.J.WORLDWIDE SERVICES LIMITED (REGISTERED NUMBER: 03899578)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 122,233 135,973

CURRENT ASSETS
Stocks 5 230,053 25,951
Debtors 6 5,332,433 2,047,664
Cash at bank 1,879,177 2,663,737
7,441,663 4,737,352
CREDITORS
Amounts falling due within one year 7 (5,820,184 ) (3,530,615 )
NET CURRENT ASSETS 1,621,479 1,206,737
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,743,712

1,342,710

CREDITORS
Amounts falling due after more than one
year

8

(9,107

)

(22,606

)

PROVISIONS FOR LIABILITIES (9,200 ) (10,963 )
NET ASSETS 1,725,405 1,309,141

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 1,725,305 1,309,041
SHAREHOLDERS' FUNDS 1,725,405 1,309,141

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.

A.J.WORLDWIDE SERVICES LIMITED (REGISTERED NUMBER: 03899578)

STATEMENT OF FINANCIAL POSITION - 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 23 September 2024 and were signed on its behalf by:





H S Parmar - Director


A.J.WORLDWIDE SERVICES LIMITED (REGISTERED NUMBER: 03899578)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

A.J.Worldwide Services 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: 03899578

Registered office: Unit 3
Ilex House
94 Holly Road
Twickenham
TW1 4HF

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
Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances.
Revenue from the sale of goods and services is recognised when goods are delivered, and legal title has passed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.
As the balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Financial instruments
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction it is measured at the present value of future payments.


A.J.WORLDWIDE SERVICES LIMITED (REGISTERED NUMBER: 03899578)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 31 (2022 - 15 ) .

A.J.WORLDWIDE SERVICES LIMITED (REGISTERED NUMBER: 03899578)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2023 25,189 23,707 38,260 161,819 248,975
Additions - - 14,301 - 14,301
At 31 December 2023 25,189 23,707 52,561 161,819 263,276
DEPRECIATION
At 1 January 2023 2,519 20,781 12,469 77,233 113,002
Charge for year 2,519 586 8,019 16,917 28,041
At 31 December 2023 5,038 21,367 20,488 94,150 141,043
NET BOOK VALUE
At 31 December 2023 20,151 2,340 32,073 67,669 122,233
At 31 December 2022 22,670 2,926 25,791 84,586 135,973

The net book value of tangible fixed assets includes £33,327 (2022-£39,159) in respect of assets held under finance leases or hire purchase contracts. The depreciation change in respect of such assets amounted to £7,832 (2022 -£9,790) for the year.

5. STOCKS
2023 2022
£    £   
Stocks 230,053 25,951

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 4,637,975 1,666,708
Other debtors 694,458 380,956
5,332,433 2,047,664

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 31,599 11,240
Hire purchase contracts 13,500 13,500
Trade creditors 4,008,740 2,915,075
Taxation and social security 167,650 61,267
Other creditors 1,598,695 529,533
5,820,184 3,530,615

A.J.WORLDWIDE SERVICES LIMITED (REGISTERED NUMBER: 03899578)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 9,107 22,606

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 1 100 100

10. CAPITAL COMMITMENTS
2023 2022
£    £   
Contracted but not provided for in the
financial statements 2,013,562 2,145,290

The above amount represents rent payable of £225,820 per annum for 107 months (2022 - £225,820 per annum for 114 months).

11. OTHER FINANCIAL COMMITMENTS

There is a fixed charge on the company's rent deposit in respect of rent and lease interest in favour of the landlord.