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Registered number: 14271404
Event Illustrator AJJ Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 14271404
31 August 2024 31 August 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 26,425 31,038
26,425 31,038
CURRENT ASSETS
Debtors 5 63,056 60,545
Cash at bank and in hand 75,056 78,974
138,112 139,519
Creditors: Amounts Falling Due Within One Year 6 (101,410 ) (105,636 )
NET CURRENT ASSETS (LIABILITIES) 36,702 33,883
TOTAL ASSETS LESS CURRENT LIABILITIES 63,127 64,921
PROVISIONS FOR LIABILITIES
Deferred Taxation 7 (5,021 ) (5,897 )
NET ASSETS 58,106 59,024
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 58,006 58,924
SHAREHOLDERS' FUNDS 58,106 59,024
Page 1
Page 2
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr A Jones
Director
22/10/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Event Illustrator AJJ Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14271404 . The registered office is Ferneberga House, Alexandra Road, Farnborough, Hants, GU14 6DQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% straight line
Motor Vehicles 25% reducing balance
Computer Equipment 25% straight line
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.5. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 September 2023 2,424 36,395 2,566 41,385
Additions 450 2,828 1,333 4,611
As at 31 August 2024 2,874 39,223 3,899 45,996
Depreciation
As at 1 September 2023 606 9,099 642 10,347
Provided during the period 719 7,531 974 9,224
As at 31 August 2024 1,325 16,630 1,616 19,571
Net Book Value
As at 31 August 2024 1,549 22,593 2,283 26,425
As at 1 September 2023 1,818 27,296 1,924 31,038
5. Debtors
31 August 2024 31 August 2023
£ £
Due within one year
Trade debtors 60,860 59,282
Other debtors 2,196 1,263
63,056 60,545
6. Creditors: Amounts Falling Due Within One Year
31 August 2024 31 August 2023
£ £
Trade creditors 796 249
Other creditors 76,233 84,690
Taxation and social security 24,381 20,697
101,410 105,636
7. Deferred Taxation
The provision for deferred tax is made up as follows:
31 August 2024 31 August 2023
£ £
Accelerated capital allowances 5,021 5,897
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8. Share Capital
31 August 2024 31 August 2023
£ £
Allotted, Called up and fully paid 100 100
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
31 August 2024 31 August 2023
£ £
Not later than one year 809 -
809 -
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