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Company registration number: 13265970
AJIS INVESTMENTS LIMITED
Unaudited filleted financial statements
31 March 2024
AJIS INVESTMENTS LIMITED
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
AJIS INVESTMENTS LIMITED
Directors and other information
Directors Mr Ravi Jobanputra
Mrs Shobhna Jobanputra
Company number 13265970
Registered office Suite 1, Congress House
Lyon Road
Harrow
Middlesex, United Kingdom
HA1 2EN
Accountants Nagle James Associates Limited
4th Floor, Amba House
15 College Road
Harrow
HA1 1BA
AJIS INVESTMENTS LIMITED
Statement of financial position
31 March 2024
2024 2023
Note £ £ £ £
Fixed assets
Investments 5 649,330 625,996
_______ _______
649,330 625,996
Current assets
Cash at bank and in hand 100 100
_______ _______
100 100
Creditors: amounts falling due
within one year 6 ( 600,775) ( 619,434)
_______ _______
Net current liabilities ( 600,675) ( 619,334)
_______ _______
Total assets less current liabilities 48,655 6,662
Provisions for liabilities ( 5,833) ( 118,939)
_______ _______
Net assets/(liabilities) 42,822 ( 112,277)
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 42,722 ( 112,377)
_______ _______
Shareholders funds/(deficit) 42,822 ( 112,277)
_______ _______
For the 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.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 10 October 2024 , and are signed on behalf of the board by:
Mr Ravi Jobanputra
Director
Company registration number: 13265970
AJIS INVESTMENTS LIMITED
Statement of changes in equity
Year ended 31 March 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 April 2022 100 ( 590) ( 490)
Profit/(loss) for the year ( 111,787) ( 111,787)
_______ _______ _______
Total comprehensive income for the year - ( 111,787) ( 111,787)
_______ _______ _______
At 31 March 2023 and 1 April 2023 100 ( 112,377) ( 112,277)
Profit/(loss) for the year 155,099 155,099
_______ _______ _______
Total comprehensive income for the year - 155,099 155,099
_______ _______ _______
At 31 March 2024 100 42,722 42,822
_______ _______ _______
AJIS INVESTMENTS LIMITED
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Suite 1, Congress House, Lyon Road, Harrow, Middlesex, United Kingdom, HA1 2EN.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover represents rent receviable in respect of investment properties.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2023: Nil).
5. Investments
Investment properties Other investments
£ £ £
Cost or valuation
At 1 April 2023 571,666 54,330 625,996
Revaluations 23,334 - 23,334
_______ | _______ | _______ |
At 31 March 2024 595,000 54,330 649,330
_______ | _______ | _______ |
Impairment
At 1 April 2023 and 31 March 2024 - - -
_______ | _______ | _______ |
Carrying amount
At 31 March 2024 595,000 54,330 649,330
_______ | _______ | _______ |
At 31 March 2023 571,666 54,330 625,996
_______ | _______ | _______ |
The investment properties have been valued by independent valuers.
6. Creditors: amounts falling due within one year
2024 2023
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 594,283 616,414
Accruals and deferred income 2,115 1,425
Corporation tax 4,377 1,595
_______ _______
600,775 619,434
_______ _______