AJ Optimum Performance Limited
Registered number: 07291870
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 3,362,095 3,369,932
Investments 4 640,000 640,000
4,002,095 4,009,932
Current assets
Debtors 5 2,113,355 1,522,237
Cash at bank and in hand 17,731 18,076
2,131,086 1,540,313
Creditors: amounts falling due within one year 6 (339,807) (345,556)
Net current assets 1,791,279 1,194,757
Total assets less current liabilities 5,793,374 5,204,689
Creditors: amounts falling due after more than one year 7 (3,370,221) (2,785,206)
Net assets 2,423,153 2,419,483
Capital and reserves
Called up share capital 100 100
Revaluation reserve 8 2,358,924 2,358,924
Profit and loss account 64,129 60,459
Shareholders' funds 2,423,153 2,419,483
Average number of employees 0 0
The directors are 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 directors acknowledge their 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.
Mr M J Keane Mr A P Martin
Director
Approved by the board on 25 March 2025
AJ Optimum Performance Limited
Notes to the Accounts
for the year ended 30 June 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 value added tax. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised when received.
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:
Equipment, fixtures and fittings 20% reducing balance basis
Motor vehicle 20% reducing balance basis
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
2 Intangible fixed assets £
Intellectual software:
Cost
At 1 July 2023 381,862
At 30 June 2024 381,862
Amortisation
At 1 July 2023 381,862
At 30 June 2024 381,862
Net book value
At 30 June 2024 -
Intellectual software is being written off in equal annual instalments over its estimated economic life of 5 years.
3 Tangible fixed assets
Premises costs Fixtures and fittings Motor vehicles Total
£ £ £ £
Cost
At 1 July 2023 3,365,081 430,495 74,780 3,870,356
Additions - 6,150 - 6,150
At 30 June 2024 3,365,081 436,645 74,780 3,876,506
Depreciation
At 1 July 2023 58,931 386,316 55,177 500,424
Charge for the year - 10,066 3,921 13,987
At 30 June 2024 58,931 396,382 59,098 514,411
Net book value
At 30 June 2024 3,306,150 40,263 15,682 3,362,095
At 30 June 2023 3,306,150 44,179 19,603 3,369,932
Freehold land and buildings: 2024 2023
£ £
Historical cost 3,365,081 3,365,081
Cumulative depreciation based on historical cost - -
3,365,081 3,365,081
The premises were revalued on 24 August 2016 by Allsop LLP at £2,946,535. A further valuation was carried out on 18 December 2019 by Colliers International where the premises were valued at £3,306,150.
Planning permission (under references P/2017/5358, 00558/4&8/P1) was approved by the Hounslow Planning Committee meeting on 9 October 2018. Based on the successful planning application of 4 & 8 Harlequin Avenue, Brentford, Middlesex TW8 9EW, the directors are of the view that market value of the premises costs would be in excess of £11 million.
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 July 2023 640,000
At 30 June 2024 640,000
5 Debtors 2024 2023
£ £
Trade debtors 44,400 44,400
Related party balance 1,626,217 1,088,302
Other debtors and prepayments 442,738 389,535
2,113,355 1,522,237
6 Creditors: amounts falling due within one year 2024 2023
£ £
Related party balance 92,439 113,439
Bank loans 93,552 93,552
Corporation tax 96,254 95,154
Other taxes and social security costs 54,742 37,846
Other creditors and accruals 2,820 5,565
339,807 345,556
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 2,670,626 1,698,359
Directors' loans 699,595 1,086,847
3,370,221 2,785,206
8 Revaluation reserve 2024 2023
£ £
At 1 July 2023 2,358,924 2,358,924
At 30 June 2024 2,358,924 2,358,924
9 Related party transactions 2024 2023
£ £
Related Party Balance
Mr Keane and Mr Martin, directors and shareholders of this company are also directors and shareholders of associated companies.
Amount due from associated companies 1,626,217 1,088,302
Amount due to associated companies 92,439 113,439
Related party transactions with the Directors
During the year the company paid interim dividends to the
shareholders who are also the directors.
Mr M J Keane - -
Mr A P Martin - -
10 Controlling party
The directors control the company.
11 Other information
AJ Optimum Performance Limited is a private company limited by shares and incorporated in England. Its registered office is:
17 Leeland Mansions
Leeland Road
West Ealing
London
W13 9HE
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