Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30truetrue2023-07-01falseNo description of principal activity21The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 06937684 2023-07-01 2024-06-30 06937684 2022-07-01 2023-06-30 06937684 2024-06-30 06937684 2023-06-30 06937684 c:Director1 2023-07-01 2024-06-30 06937684 d:PlantMachinery 2023-07-01 2024-06-30 06937684 d:PlantMachinery 2024-06-30 06937684 d:PlantMachinery 2023-06-30 06937684 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 06937684 d:MotorVehicles 2023-07-01 2024-06-30 06937684 d:MotorVehicles 2024-06-30 06937684 d:MotorVehicles 2023-06-30 06937684 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 06937684 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 06937684 d:Goodwill 2023-07-01 2024-06-30 06937684 d:Goodwill 2024-06-30 06937684 d:Goodwill 2023-06-30 06937684 d:FreeholdInvestmentProperty 2023-07-01 2024-06-30 06937684 d:FreeholdInvestmentProperty 2024-06-30 06937684 d:FreeholdInvestmentProperty 2023-06-30 06937684 d:FreeholdInvestmentProperty 2 2023-07-01 2024-06-30 06937684 d:CurrentFinancialInstruments 2024-06-30 06937684 d:CurrentFinancialInstruments 2023-06-30 06937684 d:Non-currentFinancialInstruments 2024-06-30 06937684 d:Non-currentFinancialInstruments 2023-06-30 06937684 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 06937684 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 06937684 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 06937684 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 06937684 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-06-30 06937684 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-06-30 06937684 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-06-30 06937684 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-06-30 06937684 d:ShareCapital 2024-06-30 06937684 d:ShareCapital 2023-06-30 06937684 d:RetainedEarningsAccumulatedLosses 2024-06-30 06937684 d:RetainedEarningsAccumulatedLosses 2023-06-30 06937684 c:FRS102 2023-07-01 2024-06-30 06937684 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 06937684 c:FullAccounts 2023-07-01 2024-06-30 06937684 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 06937684 d:Goodwill d:OwnedIntangibleAssets 2023-07-01 2024-06-30 06937684 f:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 06937684









AJA LOUNGE LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
AJA LOUNGE LTD
 

CONTENTS



Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 11


 
AJA LOUNGE LTD
REGISTERED NUMBER: 06937684

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
3,999

Tangible assets
 5 
61,091
66,751

Investment property
  
4,585,000
2,740,029

  
4,646,091
2,810,779

Current assets
  

Debtors: amounts falling due within one year
 7 
24,517
38,386

Cash at bank and in hand
 8 
52,769
5,819

  
77,286
44,205

Creditors: amounts falling due within one year
 9 
(506,048)
(568,887)

Net current liabilities
  
 
 
(428,762)
 
 
(524,682)

Total assets less current liabilities
  
4,217,329
2,286,097

Creditors: amounts falling due after more than one year
 10 
(2,764,639)
(2,431,924)

Provisions for liabilities
  

Deferred tax
  
(500,649)
(39,406)

  
 
 
(500,649)
 
 
(39,406)

Net assets/(liabilities)
  
952,041
(185,233)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
952,040
(185,234)

  
952,041
(185,233)


Page 1

 
AJA LOUNGE LTD
REGISTERED NUMBER: 06937684
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
R Shukla
Director

Date: 26 June 2025

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
AJA LOUNGE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

AJA Lounge Ltd is a private company limited by shares. The company is incorporated in England and its registered office address is 242 High Street, Croydon, CR0 1NF. The registered number is 06937684. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors considers it appropriate to prepare the financial statements on a going concern basis. 
The company continues to pay its debts as they fall due and retains the support of the directors and shareholders.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
AJA LOUNGE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
AJA LOUNGE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
20% reducing balance method
Motor vehicles
-
20% reducing balance method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.10

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.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

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

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
AJA LOUNGE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 1).

Page 6

 
AJA LOUNGE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 July 2023
39,999



At 30 June 2024

39,999



Amortisation


At 1 July 2023
36,000


Charge for the year on owned assets
3,999



At 30 June 2024

39,999



Net book value



At 30 June 2024
-



At 30 June 2023
3,999



Page 7

 
AJA LOUNGE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Total

£
£
£



Cost or valuation


At 1 July 2023
200,321
2,350
202,671


Additions
4,890
2,800
7,690



At 30 June 2024

205,211
5,150
210,361



Depreciation


At 1 July 2023
133,847
2,073
135,920


Charge for the year on owned assets
13,295
55
13,350



At 30 June 2024

147,142
2,128
149,270



Net book value



At 30 June 2024
58,069
3,022
61,091



At 30 June 2023
66,474
277
66,751

Page 8

 
AJA LOUNGE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Investment property


Freehold investment property

£



Valuation


At 1 July 2023
2,740,029


Additions at cost
18,458


Surplus on revaluation
1,826,513



At 30 June 2024
4,585,000

The 2024 valuations were made by the directors, on an open market value for existing use basis.





7.


Debtors

2024
2023
£
£


Trade debtors
16,363
26,667

Other debtors
8,154
11,719

24,517
38,386



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
52,769
5,819

52,769
5,819


Page 9

 
AJA LOUNGE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
3,780
3,780

Trade creditors
190,446
206,921

Corporation tax
1,315
1,315

Other creditors
306,742
353,106

Accruals and deferred income
3,765
3,765

506,048
568,887



10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
3,528
6,902

Other loans
2,761,111
2,425,022

2,764,639
2,431,924


The following liabilities were secured:

2024
2023
£
£

Secured creditors


Bank loans
2,761,111
2,425,022

2,761,111
2,425,022

Details of security provided:

The bank loans are secured on the company properties.

Page 10

 
AJA LOUNGE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
3,780
3,780


3,780
3,780

Amounts falling due 1-2 years

Other loans
2,761,111
2,425,022


2,761,111
2,425,022

Amounts falling due 2-5 years

Bank loans
3,528
6,902


3,528
6,902


2,768,419
2,435,704


 
Page 11