REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2024 |
FOR |
2AJO LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2024 |
FOR |
2AJO LTD |
2AJO LTD (REGISTERED NUMBER: 08242905) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2024 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
2AJO LTD (REGISTERED NUMBER: 08242905) |
BALANCE SHEET |
31 OCTOBER 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
2AJO LTD (REGISTERED NUMBER: 08242905) |
BALANCE SHEET - continued |
31 OCTOBER 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
2AJO LTD (REGISTERED NUMBER: 08242905) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2024 |
1. | STATUTORY INFORMATION |
2AJO Ltd is a |
Registered number: |
Registered office: |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents rents receivable, excluding discounts and value added tax. Rents are recognised in the period to which they relate. |
Tangible fixed assets |
Computer Equipment | 33% Straight Line |
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
Investment property |
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the income statement and then transferred to a revaluation reserve. |
Financial instruments |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
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. |
2AJO LTD (REGISTERED NUMBER: 08242905) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
Going concern |
The company is financed by loans from the directors. Whilst this balance is due on demand, the directors have indicated that this balance will only be drawn to the extent that the company's cash flows can support repayment. The forecast cash flow of the company support that liabilities can be met as they fall due. |
It is on this basis that the directors have concluded that the company is a going concern. As a result, these financial statements are prepared on a going concern basis. |
3. | EMPLOYEES |
The average number of employees during the year was NIL (2023 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
Additions |
At 31 October 2024 |
DEPRECIATION |
Charge for year |
At 31 October 2024 |
NET BOOK VALUE |
At 31 October 2024 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 November 2023 |
Disposals | ( |
) |
Revaluations | 13,869 |
At 31 October 2024 |
NET BOOK VALUE |
At 31 October 2024 |
At 31 October 2023 |
2AJO LTD (REGISTERED NUMBER: 08242905) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2024 |
5. | INVESTMENT PROPERTY - continued |
Fair value at 31 October 2024 is represented by: |
£ |
Valuation in 2015 | 114,073 |
Valuation in 2016 | 165,000 |
Valuation in 2017 | 35,000 |
Valuation in 2018 | 65,116 |
Valuation in 2019 | (40,000 | ) |
Valuation in 2020 | 150,000 |
Valuation in 2021 | 5,000 |
Valuation in 2024 | 13,869 |
Cost | 7,855,528 |
8,363,586 |
If investment property had not been revalued it would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 7,855,528 | 8,630,528 |
Investment property was valued on an open market basis on 31 October 2024 by the directors . |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Tax |
VAT | 3,276 | 4,390 |
Other creditors |
Directors' loan accounts | 2,263,020 | 2,387,930 |
Accruals and deferred income |
The directors' loan accounts are repayable on demand and interest is paid at a market rate. |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
Bank loans more 5 yr |
2AJO LTD (REGISTERED NUMBER: 08242905) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2024 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
2024 | 2023 |
£ | £ |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr | - | 601,397 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
The bank loan is secured by a fixed charge over the assets of the company and a debenture. |
10. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax | 92,182 | 81,872 |
Deferred |
tax |
£ |
Balance at 1 November 2023 |
Movement during the year | 10,310 |
Balance at 31 October 2024 |