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Registration number: 4629685

AAJ Sankey Set Construction Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

AAJ Sankey Set Construction Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Statement of Changes in Equity

4

Notes to the Unaudited Financial Statements

5 to 9

 

AAJ Sankey Set Construction Limited

Company Information

Directors

Mr A A J Sankey

Mrs S M Sankey

Registered office

3rd Floor
Lawford House
Albert Place
London
N3 1QA

Accountants

Sterlings Ltd
Chartered Accountants
Lawford House
Albert Place
London
N3 1QA

 

AAJ Sankey Set Construction Limited

(Registration number: 4629685)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

47,096

20,772

Investments

5

177,510

100,077

 

224,606

120,849

Current assets

 

Debtors

6

5,620

605

Cash at bank and in hand

 

363,701

480,364

 

369,321

480,969

Creditors: Amounts falling due within one year

7

(64,189)

(64,914)

Net current assets

 

305,132

416,055

Total assets less current liabilities

 

529,738

536,904

Provisions for liabilities

(8,948)

(3,947)

Net assets

 

520,790

532,957

Capital and reserves

 

Called up share capital

8

100

100

Profit and loss account

520,690

532,857

Shareholders' funds

 

520,790

532,957

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

Directors' 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 directors acknowledge their 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

AAJ Sankey Set Construction Limited

(Registration number: 4629685)
Balance Sheet as at 31 January 2024

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 October 2024 and signed on its behalf by:
 

.........................................
Mr A A J Sankey
Director

 

AAJ Sankey Set Construction Limited

Statement of Changes in Equity for the Year Ended 31 January 2024

Share capital
£

Profit and loss account
£

Total
£

At 1 February 2023

100

532,857

532,957

Profit for the year

-

103,833

103,833

Dividends

-

(116,000)

(116,000)

At 31 January 2024

100

520,690

520,790

Share capital
£

Profit and loss account
£

Total
£

At 1 February 2022

100

720,527

720,627

Loss for the year

-

(73,070)

(73,070)

Dividends

-

(114,600)

(114,600)

At 31 January 2023

100

532,857

532,957

 

AAJ Sankey Set Construction Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 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:
3rd Floor
Lawford House
Albert Place
London
N3 1QA

These financial statements were authorised for issue by the Board on 22 October 2024.

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

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

 

AAJ Sankey Set Construction Limited

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

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% on reducing balance

Motor vehicles

25% on reducing balance

Investments

Investments which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

AAJ Sankey Set Construction Limited

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

AAJ Sankey Set Construction Limited

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

4

Tangible assets

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2023

30,772

61,655

92,427

Additions

276

56,004

56,280

Disposals

-

(33,795)

(33,795)

At 31 January 2024

31,048

83,864

114,912

Depreciation

At 1 February 2023

27,969

43,686

71,655

Charge for the year

770

14,929

15,699

Eliminated on disposal

-

(19,538)

(19,538)

At 31 January 2024

28,739

39,077

67,816

Carrying amount

At 31 January 2024

2,309

44,787

47,096

At 31 January 2023

2,803

17,969

20,772

5

Investments

Investments
£

Total
£

Cost or valuation

At 1 February 2023

100,077

100,077

Revaluations

72,142

72,142

Additions

5,985

5,985

Disposals

(694)

(694)

At 31 January 2024

177,510

177,510

Carrying amount

At 31 January 2024

177,510

177,510

The above investments are stated at fair value. The historical cost of the investments, at the balance sheet date, was £105,368.

 

AAJ Sankey Set Construction Limited

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

6

Debtors

Current

2024
£

2023
£

Prepayments and accrued income

2,243

605

Other debtors

3,377

-

 

5,620

605

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

-

186

Taxation and social security

-

317

Other creditors

64,189

64,411

64,189

64,914

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

9

Related party transactions

Included in other creditors is an amount of £325 (2023: £325) owed to a director and another amount of £63,864 owed to the other director (2023: £64,086). The loans are provided interest free and are unsecured. There are no formal terms and conditions regarding repayment of the loans.