IRIS Accounts Production v25.1.3.33 13560094 Board of Directors 1.9.23 31.8.24 31.8.24 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh135600942023-08-31135600942024-08-31135600942023-09-012024-08-31135600942022-08-31135600942022-09-012023-08-31135600942023-08-3113560094ns15:EnglandWales2023-09-012024-08-3113560094ns14:PoundSterling2023-09-012024-08-3113560094ns10:Director12023-09-012024-08-3113560094ns10:PrivateLimitedCompanyLtd2023-09-012024-08-3113560094ns10:SmallEntities2023-09-012024-08-3113560094ns10:AuditExempt-NoAccountantsReport2023-09-012024-08-3113560094ns10:SmallCompaniesRegimeForDirectorsReport2023-09-012024-08-3113560094ns10:SmallCompaniesRegimeForAccounts2023-09-012024-08-3113560094ns10:FullAccounts2023-09-012024-08-3113560094ns10:Director22023-09-012024-08-3113560094ns10:RegisteredOffice2023-09-012024-08-3113560094ns5:CurrentFinancialInstruments2024-08-3113560094ns5:CurrentFinancialInstruments2023-08-3113560094ns5:ShareCapital2024-08-3113560094ns5:ShareCapital2023-08-3113560094ns5:RetainedEarningsAccumulatedLosses2024-08-3113560094ns5:RetainedEarningsAccumulatedLosses2023-08-3113560094ns5:WithinOneYearns5:CurrentFinancialInstruments2024-08-3113560094ns5:WithinOneYearns5:CurrentFinancialInstruments2023-08-3113560094ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2024-08-3113560094ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2023-08-31
REGISTERED NUMBER: 13560094 (England and Wales)









A.J. DEVELOPMENTS (PLYMOUTH) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024






A.J. DEVELOPMENTS (PLYMOUTH) LIMITED (REGISTERED NUMBER: 13560094)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


A.J. DEVELOPMENTS (PLYMOUTH) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: X Ming
H L Wen





REGISTERED OFFICE: The Ferns
Seymour Road
Mannamead
Plymouth
Devon
PL3 5AT





REGISTERED NUMBER: 13560094 (England and Wales)





ACCOUNTANTS: Mark Holt & Co Limited
Chartered Accountants
7 Sandy Court
Ashleigh Way
Langage Business Park
Plymouth
Devon
PL7 5JX

A.J. DEVELOPMENTS (PLYMOUTH) LIMITED (REGISTERED NUMBER: 13560094)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Investment property 5 1,920,235 2,404,668

CURRENT ASSETS
Debtors 6 895,454 387,469
Cash at bank 175,967 223,496
1,071,421 610,965
CREDITORS
Amounts falling due within one year 7 2,782,628 2,873,062
NET CURRENT LIABILITIES (1,711,207 ) (2,262,097 )
TOTAL ASSETS LESS CURRENT LIABILITIES 209,028 142,571

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 208,928 142,471
209,028 142,571

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 May 2025 and were signed on its behalf by:





X Ming - Director


A.J. DEVELOPMENTS (PLYMOUTH) LIMITED (REGISTERED NUMBER: 13560094)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

A.J. Developments (Plymouth) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned companies within the group.

Turnover
Turnover is measured at the fair value of the rents received or receivable, recognised for the period in which the property was occupied, net of discounts and value added taxes.

Investment property
Investment property is initially recognised at cost and then reviewed annually for revaluation and impairment. Any increase to valuation is put through the profit and loss account with the surplus held as non-distributable funds. These will then become distributable when the revaluation gain is realised through sale of the related property. Any decrease in valuation below original cost is put through the profit and loss account, reducing distributable costs due to the anticipated loss on realisation.

Impairment of Assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss if recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the assets in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transactions costs, and are measured subsequently at amortised costs using the effective interest method.


A.J. DEVELOPMENTS (PLYMOUTH) LIMITED (REGISTERED NUMBER: 13560094)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

3. ACCOUNTING POLICIES - continued
Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

Deferred tax is calculated using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

The tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

Provisions for liabilities
Provisions are recognised when the Company has a present (legal or constructive) obligation as a result of a past event; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

The amount recognised as a provision is the best estimate of the consideration required to settle the present recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance costs in profit or loss in the period it arises.

The Company recognises a provision for annual leave accrued by employees for services rendered in the current period, and which employees are entitled to carry forward and use within the next 12 months, measured at the salary costs payable for the period of absence.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023 2,404,668
Additions 17,552
Disposals (501,985 )
At 31 August 2024 1,920,235
NET BOOK VALUE
At 31 August 2024 1,920,235
At 31 August 2023 2,404,668

The carrying fair value of the properties is equal to that of their cost.

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Other debtors 614,287 58,302

A.J. DEVELOPMENTS (PLYMOUTH) LIMITED (REGISTERED NUMBER: 13560094)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

6. DEBTORS - continued
2024 2023
£    £   
Amounts falling due after more than one year:
Other debtors 281,167 329,167

Aggregate amounts 895,454 387,469

In 2023 a property was sold for £450,000 and this is being paid by installments over a period of six years, starting from that date. Interest is being charged at 1.5% above base rate.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 11,200 13,000
Other creditors 2,771,428 2,860,062
2,782,628 2,873,062