0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-05-01 Sage Accounts Production Advanced 2024 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 12553684 2023-05-01 2024-04-30 12553684 2024-04-30 12553684 2023-04-30 12553684 2022-05-01 2023-04-30 12553684 2023-04-30 12553684 2022-04-30 12553684 bus:Director1 2023-05-01 2024-04-30 12553684 core:WithinOneYear 2024-04-30 12553684 core:WithinOneYear 2023-04-30 12553684 core:ShareCapital 2024-04-30 12553684 core:ShareCapital 2023-04-30 12553684 core:RetainedEarningsAccumulatedLosses 2024-04-30 12553684 core:RetainedEarningsAccumulatedLosses 2023-04-30 12553684 bus:SmallEntities 2023-05-01 2024-04-30 12553684 bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 12553684 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 12553684 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 12553684 bus:FullAccounts 2023-05-01 2024-04-30
COMPANY REGISTRATION NUMBER: 12553684
Ajit Finance Ltd
Filleted Unaudited Financial Statements
30 April 2024
Ajit Finance Ltd
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
Current assets
Debtors
4
1,328,386
1,652,291
Cash at bank and in hand
35,636
251,212
------------
------------
1,364,022
1,903,503
Creditors: amounts falling due within one year
5
1,215,433
1,779,090
------------
------------
Net current assets
148,589
124,413
---------
---------
Total assets less current liabilities
148,589
124,413
---------
---------
Net assets
148,589
124,413
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
148,489
124,313
---------
---------
Shareholders funds
148,589
124,413
---------
---------
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 income and retained earnings has not been delivered.
For the year ending 30 April 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 were approved by the board of directors and authorised for issue on 23 January 2025 , and are signed on behalf of the board by:
RGS Johal
Director
Company registration number: 12553684
Ajit Finance Ltd
Notes to the Financial Statements
Year ended 30 April 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 Sovereign House, 184 Nottingham Road, Basford, Nottingham, NG7 7BA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
4. Debtors
2024
2023
£
£
Trade debtors
67,560
141,465
Amounts owed by group undertakings and undertakings in which the company has a participating interest
1,225,826
1,510,826
Other debtors
35,000
------------
------------
1,328,386
1,652,291
------------
------------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
1,205,849
1,757,000
Corporation tax
8,054
20,560
Other creditors
1,530
1,530
------------
------------
1,215,433
1,779,090
------------
------------
6. Related party transactions
Interest is received and charged at commercial rates on some of the loans which are all unsecured with the exception of a debt due to the company of £100,000 which is secured by a debenture.