Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-31falsefalse20417541699524412023-08-01204175trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03943652 2023-08-01 2024-07-31 03943652 2022-08-01 2023-07-31 03943652 2024-07-31 03943652 2023-07-31 03943652 c:Director1 2023-08-01 2024-07-31 03943652 d:Buildings 2023-08-01 2024-07-31 03943652 d:Buildings 2024-07-31 03943652 d:Buildings 2023-07-31 03943652 d:Buildings d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 03943652 d:MotorVehicles 2023-08-01 2024-07-31 03943652 d:MotorVehicles 2024-07-31 03943652 d:MotorVehicles 2023-07-31 03943652 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 03943652 d:FurnitureFittings 2023-08-01 2024-07-31 03943652 d:FurnitureFittings 2024-07-31 03943652 d:FurnitureFittings 2023-07-31 03943652 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 03943652 d:ComputerEquipment 2023-08-01 2024-07-31 03943652 d:ComputerEquipment 2024-07-31 03943652 d:ComputerEquipment 2023-07-31 03943652 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 03943652 d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 03943652 d:Goodwill 2024-07-31 03943652 d:Goodwill 2023-07-31 03943652 d:CurrentFinancialInstruments 2024-07-31 03943652 d:CurrentFinancialInstruments 2023-07-31 03943652 d:Non-currentFinancialInstruments 2024-07-31 03943652 d:Non-currentFinancialInstruments 2023-07-31 03943652 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 03943652 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 03943652 d:ShareCapital 2024-07-31 03943652 d:ShareCapital 2023-07-31 03943652 d:SharePremium 2023-08-01 2024-07-31 03943652 d:SharePremium 2024-07-31 03943652 d:SharePremium 2023-07-31 03943652 d:CapitalRedemptionReserve 2023-08-01 2024-07-31 03943652 d:CapitalRedemptionReserve 2024-07-31 03943652 d:CapitalRedemptionReserve 2023-07-31 03943652 d:RevaluationReserve 2023-08-01 2024-07-31 03943652 d:RevaluationReserve 2024-07-31 03943652 d:RevaluationReserve 2023-07-31 03943652 d:RetainedEarningsAccumulatedLosses 2023-08-01 2024-07-31 03943652 d:RetainedEarningsAccumulatedLosses 2024-07-31 03943652 d:RetainedEarningsAccumulatedLosses 2023-07-31 03943652 d:AcceleratedTaxDepreciationDeferredTax 2024-07-31 03943652 d:AcceleratedTaxDepreciationDeferredTax 2023-07-31 03943652 c:OrdinaryShareClass1 2023-08-01 2024-07-31 03943652 c:FRS102 2023-08-01 2024-07-31 03943652 c:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 03943652 c:FullAccounts 2023-08-01 2024-07-31 03943652 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 03943652 d:Goodwill d:OwnedIntangibleAssets 2023-08-01 2024-07-31 03943652 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure

Registered number: 03943652
















AJ & CO (DEVON) LIMITED


UNAUDITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

































AJ & CO (DEVON) LIMITED
REGISTERED NUMBER:03943652

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
38,437

Tangible assets
 5 
3,553,781
3,560,912

  
3,553,781
3,599,349

Current assets
  

Stocks
  
19,070
20,300

Debtors
 6 
180,416
448,903

Cash at bank and in hand
 7 
3,577
12,358

  
203,063
481,561

Creditors: amounts falling due within one year
 8 
(2,481,861)
(2,830,794)

Net current liabilities
  
 
 
(2,278,798)
 
 
(2,349,233)

Total assets less current liabilities
  
1,274,983
1,250,116

  

Net assets
  
1,274,983
1,250,116


Capital and reserves
  

Called up share capital 
  
375,013
375,013

Share premium account
 11 
133,170
133,170

Revaluation reserve
 11 
665,951
665,951

Capital redemption reserve
 11 
393,915
393,915

Profit and loss account
 11 
(293,066)
(317,933)

  
1,274,983
1,250,116

Page 1


AJ & CO (DEVON) LIMITED
REGISTERED NUMBER:03943652
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:





B J Smallridge
Director

Date: 20 January 2025

The notes on pages 3 to 11 form part of these financial statements.

Page 2


AJ & CO (DEVON) LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


GENERAL INFORMATION

AJ & Co. (DEVON) Ltd (Company registration number 03943652) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Ludbrook House, Ludbrook, Ivybridge, Devon, PL21 0LL.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

GOING CONCERN

The directors assess whether the use of going concern basis of preparation of the financial statements is appropriate. As part of this assessment, the directors also consider whether any material uncertainties exist that may cast significant doubt on the ability of the Company to continue as a going concern for the foreseeable future.

 
2.3

TURNOVER

Turnover represents gross income from its resident's occupation of rooms and the provision of care and nursing facilities. It accrues on a time basis, and is recognised by the company as such. The company is not VAT registered.

 
2.4

GOVERNMENT GRANTS

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.5

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3


AJ & CO (DEVON) LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.ACCOUNTING POLICIES (continued)

 
2.7

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

CURRENT AND DEFERRED TAXATION

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

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.9

INTANGIBLE ASSETS

GOODWILL
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of comprehensive income over its useful economic life.

Goodwill, being the amount paid in connection with the purchase of Meadowside and St Francis in 2004 is being amortised evenly over its estimated useful life of twenty years.
Goodwill, being the amount paid in connection with the purchase of Merafield 2015 is being amortised evenly over its estimated useful life of 10 years.

Page 4


AJ & CO (DEVON) LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.ACCOUNTING POLICIES (continued)

 
2.10

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
Not depreciated
Motor vehicles
-
25%
Reducing Balance
Fixtures and fittings
-
20%
Reducing Balance
Computer equipment
-
20%
Reducing Balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

STOCKS

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.



 
2.12

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

CASH AND CASH EQUIVALENTS

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

 
2.14

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5


AJ & CO (DEVON) LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.ACCOUNTING POLICIES (continued)

 
2.15

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.16

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
 
Page 6


AJ & CO (DEVON) LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.ACCOUNTING POLICIES (continued)


2.16
FINANCIAL INSTRUMENTS (CONTINUED)


Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


EMPLOYEES

The average monthly number of employees, including the directors, during the year was 204 (2023: 175).


4.


INTANGIBLE ASSETS




Goodwill

£



COST


At 1 August 2023
675,000



At 31 July 2024

675,000



AMORTISATION


At 1 August 2023
636,563


Charge for the year
38,437



At 31 July 2024

675,000



NET BOOK VALUE



At 31 July 2024
-



At 31 July 2023
38,437



Page 7


AJ & CO (DEVON) LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


TANGIBLE FIXED ASSETS





Freehold property
Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£



COST OR VALUATION


At 1 August 2023
4,390,955
41,641
672,167
66,610
5,171,373


Additions
-
-
18,115
189
18,304


Disposals
-
(12,500)
-
-
(12,500)



At 31 July 2024

4,390,955
29,141
690,282
66,799
5,177,177



DEPRECIATION


At 1 August 2023
957,507
37,059
568,892
47,003
1,610,461


Charge for the year
-
859
20,655
3,921
25,435


Disposals
-
(12,500)
-
-
(12,500)



At 31 July 2024

957,507
25,418
589,547
50,924
1,623,396



NET BOOK VALUE



At 31 July 2024
3,433,448
3,723
100,735
15,875
3,553,781



At 31 July 2023
3,433,448
4,582
103,275
19,607
3,560,912

Page 8


AJ & CO (DEVON) LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

6.


DEBTORS


2024
2023
£
£

DUE AFTER MORE THAN ONE YEAR

Deferred tax asset
-
32,953

 
DUE WITHIN ONE YEAR

Trade debtors
116,667
114,358

Other debtors
63,749
331,587

Prepayments and accrued income
-
2,412

Deferred taxation
-
(32,407)

180,416
448,903



7.


CASH AND CASH EQUIVALENTS

2024
2023
£
£

Cash at bank and in hand
3,577
12,358

Bank loans and overdrafts
(1,870,809)
(2,089,368)

(1,867,232)
(2,077,010)



8.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Bank loans and overdrafts
1,870,809
2,089,368

Trade creditors
204,156
214,032

Corporation tax
390
-

Other taxation and social security
369,863
491,662

Other creditors
21,162
13,132

Accrued expenses
15,481
22,600

2,481,861
2,830,794


Page 9


AJ & CO (DEVON) LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

9.


DEFERRED TAXATION




2024


£






At beginning of year
546


Charged to profit or loss
(546)



AT END OF YEAR
-

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
-
546


10.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



375,013 Ordinary shares of £1.00 each
375,013
375,013



11.


RESERVES

Share premium account

The share premium account includes any premium received on issue of share capital.

Revaluation reserve

The revaluation reserve is the unrealised surplus in the valuation of the Company's profit and loss account.

Capital redemption reserve

The capital redemption reserve contains the nominal value of own shares that have been acquired by the Company and cancelled.

Profit and loss account

The profit and loss account includes all current and prior period retained profits and losses.

Page 10


AJ & CO (DEVON) LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

12.


PENSION COMMITMENTS

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.
The pension cost charge represents contributions payable by the Company  to the fund and amounted to £90,911 (2023: £57,123). Contributions totalling £16,801 (2023: £12,530) were payable to the fund at the reporting date and are included in creditors.


13.


RELATED PARTY TRANSACTIONS

During the year the company entered into the following transactions with related parties:
Meat was supplied on an arms length basis to both care homes during the year amounting to £41,699 (2023: £52,441) from 'Ludbrook Butchers' (a business run by a director, Mr B Smallridge).

14.


CONTROLLING PARTY

The controlling party was the estate of Mr D Smallridge (deceased).


15.


CHARGES AND GUARANTEES

On the 19 July 2000, 8 January 2004 and 29 May 2015, charges were registered in line with Chapter A1 Part 25 of the Companies Act 2006 with Companies House. Pursuant to the charge, Lloyds Bank PLC acting through its registered office at 25 Gresham Street, London, EC2V 7HN placed a fixed charge on all property or undertakings of AJ & Co. (DEVON) Ltd.
 
Page 11