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Registration number: 12800670

AJ's Window Cleaning Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2024

































 

image-name

Abacus Accountants
21 Castlewood Avenue
Highweek
NEWTON ABBOT
Devon
TQ12 1NX

 

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 9

 

Company Information

Directors

Mr Adam Joseph Cosway

Mrs Harriet Elizabeth Cosway

Registered office

5 Haddon Way
Carlyon Bay
ST AUSTELL
Cornwall
PL25 3QG

Bankers

Starling Bank Limited
3rd floor
2 Finsbury Avenue
LONDON
EC2M 2PP

Accountants

Abacus Business Management Limited 21 Castlewood Avenue
Highweek
NEWTON ABBOT
Devon
TQ12 1NX

 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
AJ's Window Cleaning Ltd
for the Year Ended 31 August 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of AJ's Window Cleaning Ltd for the year ended 31 August 2024 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

Although not a member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), wherever possible we have carried out this engagement in accordance with its ethical and other professional requirements.

This report is made solely to the Board of Directors of AJ's Window Cleaning Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of AJ's Window Cleaning Ltd and state those matters that we have agreed to state to the Board of Directors of AJ's Window Cleaning Ltd, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than AJ's Window Cleaning Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that AJ's Window Cleaning Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of AJ's Window Cleaning Ltd. You consider that AJ's Window Cleaning Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of AJ's Window Cleaning Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Abacus Business Management Limited
21 Castlewood Avenue
Highweek
NEWTON ABBOT
Devon
TQ12 1NX

5 January 2025

 

(Registration number: 12800670)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

50,490

58,905

Tangible assets

5

43,366

47,168

 

93,856

106,073

Current assets

 

Stocks

6

190

342

Debtors

7

16,430

17,796

Cash at bank and in hand

 

104,269

74,678

 

120,889

92,816

Creditors: Amounts falling due within one year

8

(113,130)

(131,364)

Net current assets/(liabilities)

 

7,759

(38,548)

Net assets

 

101,615

67,525

Capital and reserves

 

Called up share capital

9

2

2

Retained earnings

101,613

67,523

Shareholders' funds

 

101,615

67,525

For the financial year ending 31 August 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 and 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 5 January 2025 and signed on its behalf by:
 

.........................................
Mr Adam Joseph Cosway
Director

 

Notes to the Unaudited Financial Statements for the Year Ended 31 August 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:
5 Haddon Way
Carlyon Bay
ST AUSTELL
Cornwall
PL25 3QG
United Kingdom

These financial statements were authorised for issue by the Board on 5 January 2025.

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.

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 current 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.

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.

 

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

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

Motor vehicles

18% of written down value

Plant and equipment

18% of written down value

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% on cost value

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

 

Notes to the Unaudited Financial Statements for the Year Ended 31 August 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.

Defined contribution pension obligation

Since the company's Workplace Pension automatic enrolment staging date on 1 April 2021 the company has operated a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2023 - 7).

 

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

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 September 2023

84,150

84,150

At 31 August 2024

84,150

84,150

Amortisation

At 1 September 2023

25,245

25,245

Amortisation charge

8,415

8,415

At 31 August 2024

33,660

33,660

Carrying amount

At 31 August 2024

50,490

50,490

At 31 August 2023

58,905

58,905

5

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 September 2023

41,483

28,568

70,051

Additions

-

5,717

5,717

At 31 August 2024

41,483

34,285

75,768

Depreciation

At 1 September 2023

13,794

9,089

22,883

Charge for the year

4,984

4,535

9,519

At 31 August 2024

18,778

13,624

32,402

Carrying amount

At 31 August 2024

22,705

20,661

43,366

At 31 August 2023

27,689

19,479

47,168

 

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

6

Stocks

2024
£

2023
£

Other inventories

190

342

7

Debtors

Current

2024
£

2023
£

Trade debtors

14,697

16,208

Prepayments

1,733

1,588

 

16,430

17,796

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Amounts due to related parties

50,837

82,464

Taxation and social security

51,088

43,809

Accruals and deferred income

1,360

421

Other creditors

9,845

4,670

113,130

131,364

 

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

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary GBP of £1 each

2

2

2

2

       

10

Dividends

2024

2023

£

£

Final dividend of £5,000.00 (2023 - £5,000.00) per ordinary share

10,000

10,000

Interim dividend of £33,400.00 (2023 - £33,400.00) per ordinary share

66,800

66,800

76,800

76,800

 

 

The directors are recommending a final dividend of £5,000.00 (2023 - £5,000.00) per share totalling £10,000.00 (2023 - £10,000.00). This dividend has not been accrued in the balance sheet.

11

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

25,140

24,406