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Registration number: 09178179

AJW Facilities Limited
 

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 31 March 2024

 

AJW Facilities Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

AJW Facilities Limited

(Registration number: 09178179)
Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

750,000

750,000

Current assets

 

Debtors

5

6,651

5,602

Cash at bank and in hand

 

6,668

6,785

 

13,319

12,387

Creditors: Amounts falling due within one year

6

(100,354)

(85,534)

Net current liabilities

 

(87,035)

(73,147)

Total assets less current liabilities

 

662,965

676,853

Creditors: Amounts falling due after more than one year

6

(237,358)

(290,246)

Provisions for liabilities

(57,277)

(43,531)

Net assets

 

368,330

343,076

Capital and reserves

 

Called up share capital

100

100

Fair value reserve

155,445

169,191

Profit and loss account

212,785

173,785

Shareholders' funds

 

368,330

343,076

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 24 September 2024
 

 

AJW Facilities Limited

(Registration number: 09178179)
Statement of Financial Position as at 31 March 2024

.........................................
A J Walker
Director

 

AJW Facilities Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is: Knoll House, Knoll Road, Camberley, Surrey, GU15 3SY. United Kingdom.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

AJW Facilities Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Investment property

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

If a reliable measure of fair value is not available without undue cost or effort it shall be transferred to tangible assets and accounted for under the cost model until it is expected that fair value will be reliably measurable on an on-going basis.

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

 

AJW Facilities Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Fair value reserve

The fair value reserve is used to record increases in the fair value of investments and decreases to the extent that such decrease relates to a previous increase on the same asset.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Investment properties

2024
£

At 1 April 2023

750,000

At 31 March 2024

750,000

The investment property has been valued by the director on an open market value for existing use basis, based on a review of rent yields and market conditions at the year end date.

There has been no valuation of investment property by an independent valuer.

5

Debtors

2024
£

2023
£

Trade debtors

6,000

5,000

Prepayments

651

602

6,651

5,602

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Bank loans and overdrafts

7

35,682

23,719

Taxation and social security

 

16,576

13,719

Accruals and deferred income

 

1,550

1,550

Other creditors

 

46,546

46,546

 

100,354

85,534

The bank loan inside and outside one year is secured by a fixed charge over the freehold property.

 

AJW Facilities Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Loans and borrowings

7

237,358

290,246

2024
£

2023
£

After more than five years by instalments

111,597

177,790

-

-

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

157,185

194,112

Other borrowings

80,173

96,134

237,358

290,246

Current loans and borrowings

2024
£

2023
£

Bank borrowings

21,206

9,746

Other borrowings

14,476

13,973

35,682

23,719