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Registration number: 04259237

Ajay Business Centres Limited
 

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 30 June 2024

 

Ajay Business Centres Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Ajay Business Centres Limited

(Registration number: 04259237)
Statement of Financial Position as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

26,954

33,711

Investment property

5

2,600,000

2,600,000

 

2,626,954

2,633,711

Current assets

 

Debtors

6

21,167

21,167

Cash at bank and in hand

 

37,760

50,730

 

58,927

71,897

Creditors: Amounts falling due within one year

7

(700,543)

(874,583)

Net current liabilities

 

(641,616)

(802,686)

Total assets less current liabilities

 

1,985,338

1,831,025

Creditors: Amounts falling due after more than one year

7

(10,002)

(20,002)

Provisions for liabilities

(184,941)

(186,630)

Net assets

 

1,790,395

1,624,393

Capital and reserves

 

Called up share capital

1

1

Fair value reserve

534,606

534,606

Profit and loss account

1,255,788

1,089,786

Shareholders' funds

 

1,790,395

1,624,393

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 21 March 2025
 

 

Ajay Business Centres Limited

(Registration number: 04259237)
Statement of Financial Position as at 30 June 2024

.........................................
Mr A Nehra
Director

 

Ajay Business Centres Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is: Ajbc 8 Crossways Village, Silwood Road, Ascot, Berkshire, SL5 0PY.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Group accounts not prepared

The company has taken advantage of the exemption from preparing consolidated financial statements contained in Section 400 of the Companies Act 2006 on the basis that it is a subsidiary undertaking and its immediate parent is established under the law of an EEA State.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for rents receivable and the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

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

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 taxable income.

 

Ajay Business Centres Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold improvements

33.33% straight line

Motor vehicles

25% reducing balance

Plant and machinery

25% reducing balance and 10% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Trade debtors

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

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Ajay Business Centres Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, and loans to related parties.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 6 (2023 - 6).

 

Ajay Business Centres Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Short leasehold land and buildings improvements
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

6,132

76,637

11,271

94,040

At 30 June 2024

6,132

76,637

11,271

94,040

Depreciation

At 1 July 2023

6,132

42,973

11,224

60,329

Charge for the year

-

6,745

12

6,757

At 30 June 2024

6,132

49,718

11,236

67,086

Carrying amount

At 30 June 2024

-

26,919

35

26,954

At 30 June 2023

-

33,664

47

33,711

5

Investment property

2024
£

At 1 July 2023

2,600,000

At 30 June 2024

2,600,000

The valuation of the investment property was made as at 30 June 2022 by the director, on an open market basis.

6

Debtors

Note

2024
£

2023
£

Amounts owed by related parties

213

213

Other debtors

 

20,954

20,954

 

21,167

21,167

 

Ajay Business Centres Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Bank loans and overdrafts

8

10,000

9,999

Trade creditors

 

24,278

26,325

Amounts owed to group undertakings and undertakings in which the company has a participating interest

313,853

455,193

Taxation and social security

 

208,075

235,426

Accruals and deferred income

 

101,917

80,606

Other creditors

 

42,420

67,034

 

700,543

874,583

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Loans and borrowings

8

10,002

20,002

 

Ajay Business Centres Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

10,002

20,002

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

9,999

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total amount of financial commitments not included in the statement of financial position is £120,689 (2023 - £154,089).

10

Parent and ultimate parent undertaking

The company's immediate parent is Ajay Group Limited, incorporated in the United Kingdom.

  These financial statements are available upon request from Ajbc 8 Crossways Village, Silwood Road, Ascot, Berkshire, SL5 0PY.