Company registration number 05570258 (England and Wales)
AJC ROAD SWEEPERS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
AJC ROAD SWEEPERS LTD
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 5
AJC ROAD SWEEPERS LTD
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
399,193
435,752
Investments
5
15,000
15,000
414,193
450,752
Current assets
Debtors
6
361
4,464
Cash at bank and in hand
1,477
3,924
1,838
8,388
Creditors: amounts falling due within one year
7
(143,984)
(162,313)
Net current liabilities
(142,146)
(153,925)
Net assets
272,047
296,827
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
271,947
296,727
Total equity
272,047
296,827
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 23 December 2024
Mr A J Connell
Director
Company registration number 05570258 (England and Wales)
AJC ROAD SWEEPERS LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 April 2022
100
330,474
330,574
Year ended 31 March 2023:
Loss and total comprehensive income
-
(33,747)
(33,747)
Balance at 31 March 2023
100
296,727
296,827
Year ended 31 March 2024:
Loss and total comprehensive income
-
(24,780)
(24,780)
Balance at 31 March 2024
100
271,947
272,047
Difference - opening bal of PY less adjusted closing bal of PPY
-
20,000
AJC ROAD SWEEPERS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information
AJC Road Sweepers Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Bourne Street, Hollinwood, Oldham, Lancashire, OL9 7LX.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of 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 show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
Enter depreciation rate via StatDB - cd74
Plant and equipment
15%
Fixtures and fittings
15%
Computers
15%
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
AJC ROAD SWEEPERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.5
Leases
2
Judgements and key sources of estimation uncertainty
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2023
250,000
615,725
865,725
Additions
3,960
3,960
At 31 March 2024
250,000
619,685
869,685
Depreciation and impairment
At 1 April 2023
80,417
349,556
429,973
Depreciation charged in the year
40,519
40,519
At 31 March 2024
80,417
390,075
470,492
Carrying amount
At 31 March 2024
169,583
229,610
399,193
At 31 March 2023
169,583
266,169
435,752
AJC ROAD SWEEPERS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
5
Fixed asset investments
2024
2023
£
£
Other investments other than loans
15,000
15,000
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
361
4,464
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
25,902
30,258
Trade creditors
1
1
Taxation and social security
22,993
22,905
Other creditors
95,088
109,149
143,984
162,313