ASTON & JAMES OFFICE SUPPLIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2024
Company Registration Number: 07923532
ASTON & JAMES OFFICE SUPPLIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
CONTENTS PAGES
Company information 1
Balance sheet 2 to 3
Notes to the financial statements 4 to 10
ASTON & JAMES OFFICE SUPPLIES LIMITED
COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024
DIRECTOR
D Aston
SECRETARY
M Aston
REGISTERED OFFICE
Unit 1 Nimrod Business Park
De Havilland Way
Witney
Oxon
OX29 0YG
COMPANY REGISTRATION NUMBER
07923532 England and Wales
ASTON & JAMES OFFICE SUPPLIES LIMITED
BALANCE SHEET
AS AT 30 JUNE 2024
Notes 2024 2023
£ £
FIXED ASSETS
Intangible assets 5 115,496 173,243
Tangible assets 6 637,876 660,455
753,372 833,698
CURRENT ASSETS
Stock 46,108 53,843
Debtors 7 279,008 367,398
Cash at bank and in hand 376,173 408,355
701,289 829,596
CREDITORS: Amounts falling due within one year 8 287,602 276,742
NET CURRENT ASSETS 413,687 552,854
TOTAL ASSETS LESS CURRENT LIABILITIES 1,167,059 1,386,552
CREDITORS: Amounts falling due after more than one year 9 340,388 441,869
Provisions for liabilities and charges 2,226 3,626
NET ASSETS 824,445 941,057
CAPITAL AND RESERVES
Called up share capital 110 110
Distributable profit and loss account 624,345 740,957
Capital redemption reserve 199,990 199,990
SHAREHOLDERS' FUNDS 824,445 941,057
ASTON & JAMES OFFICE SUPPLIES LIMITED
BALANCE SHEET
AS AT 30 JUNE 2024
These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
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.
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.
Signed on behalf of the board
D Aston
Director
Date approved by the board: 21 March 2025
ASTON & JAMES OFFICE SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
1 GENERAL INFORMATION
Aston & James Office Supplies Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:
Unit 1 Nimrod Business Park
De Havilland Way
Witney
Oxon
OX29 0YG
The financial statements are presented in Sterling, which is the functional currency of the company.
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of preparation of financial statements
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
Revenue recognition
Turnover is measured at the fair value of consideration received or receivable and represents the sale of stationery and office supplies, stated net of trade discounts and value added tax.
The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.
Intangible fixed assets
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. At acquisition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses.
Goodwill amortisation is charged on a straight line basis so as to write off the cost of the asset, less its residual value assumed to be zero, over its useful economic life, which is estimated to be 10 years.
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new expectations.
ASTON & JAMES OFFICE SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Tangible fixed assets
Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.
Depreciation has been provided at the following rates so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives.
Freehold property Straight line basis at 2% per annum
Fixtures, fittings, tools and equipment Straight line basis at 25% per annum
Motor vehicles Reducing balance basis at 25% per annum
On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses.
Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.
The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
ASTON & JAMES OFFICE SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account.
Stocks are assessed for impairment at each reporting date. The carrying amount of each item of stock, or group of similar items, is compared with its selling price less cost to complete and sell. If an item of stock, or group of similar items, is impaired its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in the profit and loss account.
If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account.
Stock
Stock has been valued at the lower of cost and estimated selling price less cost to complete and sell, after making due allowance for obsolete and slow-moving items. Cost comprises the cost of goods purchased valued on a first in first out basis.
The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised
Debtors
Short term debtors are measured at transaction price, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.
Leases
Leases are classified as finance leases when they transfer substantially all the risks and rewards of ownership of the leased assets to the company. Other leases that do not transfer substantially all the risks and rewards of ownership of the leased assets to the company are classified as operating leases.
Payments applicable to operating leases are charged against profit on a straight line basis over the lease term.
ASTON & JAMES OFFICE SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. 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 taxable profits.
Deferred tax is measured using 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.
Current and deferred tax assets and liabilities are not discounted.
Provisions
A provision for annual leave accrued by employees as a result of services rendered in the current period, and which employees are entitled to carry forward and use is recognised. The provision is measured at the salary cost payable for the period of absence.
Pensions
The company operates a defined contribution pension scheme. The amount charged to the profit and loss account in respect of pension costs and other post-retirement benefits is the amount payable in the year. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments in the balance sheet.
3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
No significant accounting estimates and judgements have had to be made by the director in preparing these financial statements.
4 EMPLOYEES
The average number of persons employed by the company (including directors) during the year was:
2024 2023
Average number of employees 16 16
ASTON & JAMES OFFICE SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
5 INTANGIBLE FIXED ASSETS
Goodwill
£
Cost
At 1 July 2023 739,369
At 30 June 2024 739,369
Accumulated amortisation and impairments
At 1 July 2023 566,126
Charge for year 57,747
At 30 June 2024 623,873
Net book value
At 1 July 2023 173,243
At 30 June 2024 115,496
6 TANGIBLE ASSETS
Freehold property Fixtures, fittings, tools and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 July 2023 848,963 127,855 25,500 1,002,318
At 30 June 2024 848,963 127,855 25,500 1,002,318
Accumulated depreciation
At 1 July 2023 203,009 122,027 16,829 341,865
Charge for year 16,978 3,431 2,168 22,577
At 30 June 2024 219,987 125,458 18,997 364,442
Net book value
At 1 July 2023 645,954 5,828 8,671 660,453
At 30 June 2024 628,976 2,397 6,503 637,876
ASTON & JAMES OFFICE SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
7 DEBTORS
2024 2023
£ £
Trade debtors 268,571 346,411
Prepayments and accrued income 7,887 18,774
Other debtors 2,550 2,213
279,008 367,398
8 CREDITORS: Amounts falling due within one year
2024 2023
£
Bank loans and overdrafts 98,723 55,459
Trade creditors 143,265 163,011
Taxation and social security 41,727 53,630
Accruals and deferred income 3,887 4,597
Other creditors - 45
287,602 276,742
9 CREDITORS: Amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 340,388 441,869
Analysis of creditors falling due after more than five years:
2024 2023
Aggregate of non-instalment debts that fall due for repayment after five years: £ £
Bank loans and overdrafts - 109,780
10 SECURED DEBTS
The company has a bank loan with Barclays Bank PLC which is secured with a fixed and floating charge over the undertaking and all property and assets present and future.
11 CONTINGENCIES AND COMMITMENTS
Other Commitments
Amounts falling due under operating leases: 2024 2023
£ £
In less than one year 14,171 38,166
In more than one but less than five years 7,799 12,350
21,970 50,516
ASTON & JAMES OFFICE SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
12 DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
The following director's advances, credits and guarantees took place during the year
Balance at 1 July 2023 Amounts advanced Amounts repaid Balance at 30 June 2024
£ £ £ £
D Aston - 1,827 - 1,827
This advance is interest free and repayable on demand.
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