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Registration number: NI653081

AJC Dance Designs Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

AJC Dance Designs Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

AJC Dance Designs Ltd

Company Information

Director

Mr Anthony Carson

Registered office

Unit 37
Duncairn Gardens
BELFAST
BT15 2GG

Accountants

McKeague Morgan & Company
27 College Gardens
Belfast
BT9 6BS

 

AJC Dance Designs Ltd

(Registration number: NI653081)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

31,792

20,199

Current assets

 

Stocks

6

36,500

36,500

Debtors

7

217,131

178,873

Cash at bank and in hand

 

470,807

233,834

 

724,438

449,207

Creditors: Amounts falling due within one year

8

(168,380)

(108,063)

Net current assets

 

556,058

341,144

Total assets less current liabilities

 

587,850

361,343

Creditors: Amounts falling due after more than one year

8

(8,757)

(13,755)

Net assets

 

579,093

347,588

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

578,993

347,488

Total equity

 

579,093

347,588

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

AJC Dance Designs Ltd

(Registration number: NI653081)
Balance Sheet as at 31 May 2024

Approved and authorised by the director on 22 May 2025
 

.........................................

Mr Anthony Carson
Director

 

AJC Dance Designs Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in the United Kingdom.

The address of its registered office is:
Unit 37
Duncairn Gardens
BELFAST
BT15 2GG

These financial statements were authorised for issue by the director on 22 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

AJC Dance Designs Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

2

Accounting policies (continued)

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20%

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

AJC Dance Designs Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

2

Accounting policies (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

AJC Dance Designs Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

2

Accounting policies (continued)

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 17 (2023 - 15).

 

AJC Dance Designs Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 June 2023

3,572

24,167

515

28,254

Additions

2,332

-

15,990

18,322

At 31 May 2024

5,904

24,167

16,505

46,576

Depreciation

At 1 June 2023

1,302

6,444

309

8,055

Charge for the year

949

3,545

2,235

6,729

At 31 May 2024

2,251

9,989

2,544

14,784

Carrying amount

At 31 May 2024

3,653

14,178

13,961

31,792

At 31 May 2023

2,270

17,723

206

20,199

5

Investment properties

2024
£

There has been no valuation of investment property by an independent valuer.

6

Stocks

2024
£

2023
£

Work in progress

36,500

36,500

7

Debtors

 

AJC Dance Designs Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

7

Debtors (continued)

Note

2024
£

2023
£

Amounts owed by group undertakings and undertakings in which the company has a participating interest

2,070

-

Other debtors

 

215,061

178,873

 

217,131

178,873

8

Creditors

Note

2024
£

2023
£

Due within one year

 

HP and finance lease liabilities

 

4,998

4,998

Corporation tax liability

 

141,834

87,116

Taxation and social security

 

4,577

7,538

Other creditors

 

9,039

3,229

Loans from directors

 

432

182

Accruals and deferred income

 

7,500

5,000

 

168,380

108,063

Due after one year

 

Obligations under finance leases

 

8,757

13,755

 

AJC Dance Designs Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

       

10

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

4,998

4,998

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

8,757

13,755