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REGISTERED NUMBER: SC249637 (Scotland)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

AJM Spraying Services Ltd

AJM Spraying Services Ltd (Registered number: SC249637)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AJM Spraying Services Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTORS: A J McMillan
Mrs S J McMillan
H McMillan
Ms G Frullani





SECRETARY: Mrs S J McMillan





REGISTERED OFFICE: 12 Inchmuir Road
Whitehill Industrial Estate
Bathgate
West Lothian
EH48 2EP





REGISTERED NUMBER: SC249637 (Scotland)





ACCOUNTANTS: Accountants Plus
Chartered Certified Accountants
Unit 1 Cadzow Park
82 Muir Street
Hamilton
ML3 6BJ

AJM Spraying Services Ltd (Registered number: SC249637)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,071,568 886,743
1,071,568 886,743

CURRENT ASSETS
Stocks 6,237 5,432
Debtors 6 792,448 771,855
Cash at bank and in hand 17,298 41,637
815,983 818,924
CREDITORS
Amounts falling due within one year 7 920,143 836,668
NET CURRENT LIABILITIES (104,160 ) (17,744 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

967,408

868,999

CREDITORS
Amounts falling due after more than
one year

8

(214,924

)

(208,358

)

PROVISIONS FOR LIABILITIES (211,549 ) (130,780 )
NET ASSETS 540,935 529,861

AJM Spraying Services Ltd (Registered number: SC249637)

Balance Sheet - continued
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 3,018 3,018
Retained earnings 537,917 526,843
540,935 529,861

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2024 and were signed on its behalf by:




A J McMillan - Director



Mrs S J McMillan - Director


AJM Spraying Services Ltd (Registered number: SC249637)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

AJM Spraying Services Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
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.

Creditors
Short term creditors are measured at transaction price, less any impairment. 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.

Cash and bank balances
Cash and bank balances are measured at the transaction price.


AJM Spraying Services Ltd (Registered number: SC249637)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 25 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 100,000
AMORTISATION
At 1 June 2023
and 31 May 2024 100,000
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

AJM Spraying Services Ltd (Registered number: SC249637)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2023 253,869 1,809,660 2,063,529
Additions - 352,121 352,121
Disposals - (29,508 ) (29,508 )
At 31 May 2024 253,869 2,132,273 2,386,142
DEPRECIATION
At 1 June 2023 - 1,176,786 1,176,786
Charge for year - 155,485 155,485
Eliminated on disposal - (17,697 ) (17,697 )
At 31 May 2024 - 1,314,574 1,314,574
NET BOOK VALUE
At 31 May 2024 253,869 817,699 1,071,568
At 31 May 2023 253,869 632,874 886,743

Included in cost of land and buildings is freehold land of £ 253,869 (2023 - £ 253,869 ) which is not depreciated.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 561,117 597,567
Amounts owed by group undertakings 78,816 85,303
Staff loans 3,700 127
Called up share capital not paid 3,015 3,015
Prepayments 145,800 85,843
792,448 771,855

AJM Spraying Services Ltd (Registered number: SC249637)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 145,394 159,014
Other loans 40,184 36,339
Hire purchase contracts 101,066 92,496
Trade creditors 275,154 282,206
Amounts owed to group undertakings 21,746 25,666
Social security and other taxes 22,748 22,377
VAT 184,729 185,233
Credit card account 1,770 6,292
Directors' current accounts 3,043 10,209
Accrued expenses 124,309 16,836
920,143 836,668

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.5.24 31.5.23
£    £   
Other loans - 1-2 years 32,904 40,184
Other loans - 2-5 years - 32,904
Hire purchase contracts 182,020 135,270
214,924 208,358