Registered number
09590384
A J AESTHETICS LTD
Filleted Accounts
31 May 2024
A J AESTHETICS LTD
Registered number: 09590384
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 140,013 163,348
Tangible assets 4 424,283 446,426
564,296 609,774
Current assets
Debtors 5 4,931 4,462
Cash at bank and in hand (15,068) (29,700)
(10,137) (25,238)
Creditors: amounts falling due within one year 6 (174,415) (125,734)
Net current liabilities (184,552) (150,972)
Total assets less current liabilities 379,744 458,802
Creditors: amounts falling due after more than one year 7 (294,698) (376,950)
Provisions for liabilities (49,820) (30,128)
Net assets 35,226 51,723
Capital and reserves
Called up share capital 10 10
Profit and loss account 35,216 51,713
Shareholders' funds 35,226 51,723
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A Jutla
Director
Approved by the board on 28 January 2025
A J AESTHETICS LTD
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings Not provided
Plant and machinery 10% Reducing balance basis
Fixtures, fittings, tools and equipment 10% Reducing balance basis
Motor Vehicles 10% Reducing balance basis
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 11 9
3 Intangible fixed assets £
Goodwill:
Cost
At 1 June 2023 350,030
At 31 May 2024 350,030
Amortisation
At 1 June 2023 186,682
Provided during the year 23,335
At 31 May 2024 210,017
Net book value
At 31 May 2024 140,013
At 31 May 2023 163,348
Goodwill is being written off in equal annual instalments over its estimated economic life of 15 years.
4 Tangible fixed assets
Land and buildings Motor Vehicles Equipment,fixtures & fittings Total
£ £ £ £
Cost
At 1 June 2023 225,000 77,603 237,553 540,156
At 31 May 2024 225,000 77,603 237,553 540,156
Depreciation
At 1 June 2023 - 14,744 78,986 93,730
Charge for the year - 6,286 15,857 22,143
At 31 May 2024 - 21,030 94,843 115,873
Net book value
At 31 May 2024 225,000 56,573 142,710 424,283
At 31 May 2023 225,000 62,859 158,567 446,426
5 Debtors 2024 2023
£ £
Trade debtors 4,931 4,216
Other debtors - 246
4,931 4,462
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 48,875 58,134
Obligations under finance lease and hire purchase contracts 22,100 21,500
Trade creditors 6,909 6,729
Corporation tax 79,796 28,170
Other creditors 16,735 11,201
174,415 125,734
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 230,063 288,146
Obligations under finance lease and hire purchase contracts 64,635 88,804
294,698 376,950
8 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 148,620 162,514
Secured bank loans 230,063 288,146
Loans advanced from Lloyds Bank PLC totalling £230,063 at 31st May 2024 (£288,146 at 31st May 2023) are secured via charges over all assets of the Company.
9 Other information
A J AESTHETICS LTD is a private company limited by shares and incorporated in England. Its registered office is:
Lichfield House
2 Lichfield Grove
London
N3 2JP
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