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 |