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Registration number: 15318933

AJR Home Projects Limited

Unaudited Filleted Financial Statements

for the Period from 30 November 2023 to 30 November 2024

 

AJR Home Projects Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 10

 

AJR Home Projects Limited

(Registration number: 15318933)
Balance Sheet as at 30 November 2024

Note

2024
£

Fixed assets

 

Intangible assets

4

28,000

Tangible assets

5

27,414

 

55,414

Current assets

 

Stocks

10,382

Debtors

6

9,944

Cash at bank and in hand

 

45,135

 

65,461

Creditors: Amounts falling due within one year

7

(103,492)

Net current liabilities

 

(38,031)

Total assets less current liabilities

 

17,383

Creditors: Amounts falling due after more than one year

7

(26,990)

Provisions for liabilities

(6,854)

Net liabilities

 

(16,461)

Capital and reserves

 

Called up share capital

2

Retained earnings

(16,463)

Shareholders' deficit

 

(16,461)

For the financial period ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

AJR Home Projects Limited

(Registration number: 15318933)
Balance Sheet as at 30 November 2024

These financial statements have been prepared and 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 5 August 2025 and signed on its behalf by:
 

.........................................
Mr A J Hawkin
Director

 

AJR Home Projects Limited

Notes to the Unaudited Financial Statements for the Period from 30 November 2023 to 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Leitherlands
Biggin
Leeds
LS25 6HJ
England

These financial statements were authorised for issue by the Board on 5 August 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 were prepared on a going concern basis. This is based on the director's opinion that the company can meet its liabilities as they fall due for a period of at least twelve months from approving the financial statements. However there can be no certainty to this view.

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 value added tax, returns, rebates and discounts.

The company recognises revenue from the sale of goods and provision of services at the point the products are installed and associated service delivered.

Tax

The tax expense for the period comprises deferred 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.

 

AJR Home Projects Limited

Notes to the Unaudited Financial Statements for the Period from 30 November 2023 to 30 November 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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

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

Furniture & Fittings

25% Reducing balance

Office Equipment

25% Reducing balance

Motor Vehicle

25% Reducing balance

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Franchise Fees

20% Straight line

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.

 

AJR Home Projects Limited

Notes to the Unaudited Financial Statements for the Period from 30 November 2023 to 30 November 2024

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.

 

AJR Home Projects Limited

Notes to the Unaudited Financial Statements for the Period from 30 November 2023 to 30 November 2024

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

 

AJR Home Projects Limited

Notes to the Unaudited Financial Statements for the Period from 30 November 2023 to 30 November 2024

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 directors) during the period, was 3.

 

AJR Home Projects Limited

Notes to the Unaudited Financial Statements for the Period from 30 November 2023 to 30 November 2024

4

Intangible assets

Franchise Fees
£

Total
£

Cost or valuation

Additions acquired separately

35,000

35,000

At 30 November 2024

35,000

35,000

Amortisation

Amortisation charge

7,000

7,000

At 30 November 2024

7,000

7,000

Carrying amount

At 30 November 2024

28,000

28,000

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

Additions

25,863

10,689

36,552

At 30 November 2024

25,863

10,689

36,552

Depreciation

Charge for the period

6,466

2,672

9,138

At 30 November 2024

6,466

2,672

9,138

Carrying amount

At 30 November 2024

19,397

8,017

27,414

The net book value of tangible assets includes £8,017 in respect of assets held under hire purchase or finance lease contracts.

 

AJR Home Projects Limited

Notes to the Unaudited Financial Statements for the Period from 30 November 2023 to 30 November 2024

6

Debtors

Current

2024
£

Trade debtors

5,375

Prepayments

132

Other debtors

4,437

 

9,944

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Loans and borrowings

8

10,465

Trade creditors

 

16,302

Taxation and social security

 

9,003

Accruals and deferred income

 

17,382

Other creditors

 

50,340

 

103,492

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £3,033.

Creditors: amounts falling due after more than one year

Note

2024
£

Due after one year

 

Loans and borrowings

8

26,990

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £7,595.

 

AJR Home Projects Limited

Notes to the Unaudited Financial Statements for the Period from 30 November 2023 to 30 November 2024

8

Loans and borrowings

Non-current loans and borrowings

2024
£

Bank borrowings

19,395

Finance lease liabilities

7,595

26,990

Current loans and borrowings

2024
£

Bank borrowings

7,432

Hire purchase contracts

3,033

10,465

9

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

Not later than one year

16,800

Later than one year and not later than five years

56,000

72,800

The amount of non-cancellable operating lease payments recognised as an expense during the period was £16,275 .