REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 November 2024 |
for |
AYAG LTD |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 November 2024 |
for |
AYAG LTD |
AYAG LTD (Registered number: 09295529) |
Contents of the Financial Statements |
for the Year Ended 30 November 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
AYAG LTD |
Company Information |
for the Year Ended 30 November 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
80 Woodrush Way |
Romford |
Essex |
RM6 5BL |
AYAG LTD (Registered number: 09295529) |
Balance Sheet |
30 November 2024 |
30.11.24 | 30.11.23 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 4 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
5 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 6 |
Retained earnings | 7 |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
AYAG LTD (Registered number: 09295529) |
Balance Sheet - continued |
30 November 2024 |
The financial statements were authorised for issue by the Board of Directors and authorised for issue on |
AYAG LTD (Registered number: 09295529) |
Notes to the Financial Statements |
for the Year Ended 30 November 2024 |
1. | STATUTORY INFORMATION |
AYAG LTD is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The directors consider that the financial resources available to the Company are adequate to meet its operational needs for the foreseeable future or atleast 12 months from the date of signature of these accounts. Accordingly, the going concern basis has been adopted in preparing these financial statements. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover represents management fees receivable. Revenue from management fee is recognised for the period for which it is due. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial instruments |
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument. |
Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due. |
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the company's cash management. |
Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. |
AYAG LTD (Registered number: 09295529) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.24 | 30.11.23 |
£ | £ |
Taxation and social security |
Other creditors |
5. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.11.24 | 30.11.23 |
£ | £ |
Trade creditors |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.11.24 | 30.11.23 |
value: | £ | £ |
Ordinary | 1 | 1 | 1 |
AYAG LTD (Registered number: 09295529) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2024 |
7. | RESERVES |
Retained |
earnings |
£ |
At 1 December 2023 |
Profit for the year |
At 30 November 2024 |
8. | DIRECTORS' LOAN |
The following loan advances from a director subsisted during the years ended 30 November 2024 and 30 November 2023: |
30.11.24 | 30.11.23 |
£ | £ |
**UNKNOWN DIRECTOR 1** |
Balance outstanding at start of year | 1,691,332 | 1,725,126 |
Amounts advanced | 3,639 | - |
Amounts repaid | (264,221 | ) | (33,794 | ) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | 1,430,750 | 1,691,332 |