A J Frost Ltd 04955049 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is car servicing and repairs. Digita Accounts Production Advanced 6.30.9574.0 true 04955049 2023-09-01 2024-08-31 04955049 2024-08-31 04955049 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 04955049 core:Non-currentFinancialInstruments core:AfterOneYear 2024-08-31 04955049 core:FurnitureFittingsToolsEquipment 2024-08-31 04955049 core:MotorVehicles 2024-08-31 04955049 bus:SmallEntities 2023-09-01 2024-08-31 04955049 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 04955049 bus:FilletedAccounts 2023-09-01 2024-08-31 04955049 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 04955049 bus:RegisteredOffice 2023-09-01 2024-08-31 04955049 bus:Director1 2023-09-01 2024-08-31 04955049 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 04955049 core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 04955049 core:MotorCars 2023-09-01 2024-08-31 04955049 core:MotorVehicles 2023-09-01 2024-08-31 04955049 core:OfficeEquipment 2023-09-01 2024-08-31 04955049 countries:EnglandWales 2023-09-01 2024-08-31 04955049 2023-08-31 04955049 core:FurnitureFittingsToolsEquipment 2023-08-31 04955049 core:MotorVehicles 2023-08-31 04955049 2022-09-01 2023-08-31 04955049 2023-08-31 04955049 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 04955049 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 04955049 core:FurnitureFittingsToolsEquipment 2023-08-31 04955049 core:MotorVehicles 2023-08-31 iso4217:GBP xbrli:pure

Registration number: 04955049

A J Frost Ltd

Annual Report and Unaudited Financial Statements

for the year ended 31 August 2024

 

A J Frost Ltd

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

A J Frost Ltd

(Registration number: 04955049)
Statement of Financial Position
31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

12,360

6,947

Current assets

 

Stocks

5

550

550

Cash at bank and in hand

 

104,545

99,054

 

105,095

99,604

Creditors: Amounts falling due within one year

7

(43,080)

(38,081)

Net current assets

 

62,015

61,523

Total assets less current liabilities

 

74,375

68,470

Creditors: Amounts falling due after more than one year

7

(3,246)

-

Provisions for liabilities

(1,969)

(1,320)

Net assets

 

69,160

67,150

Capital and reserves

 

Called up share capital

100

100

Retained earnings

69,060

67,050

Shareholders' funds

 

69,160

67,150

For the financial year ending 31 August 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 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 14 August 2025
 

 

A J Frost Ltd

(Registration number: 04955049)
Statement of Financial Position
31 August 2024

.........................................
A J Frost
Director

 

A J Frost Ltd

Notes to the Unaudited Financial Statements
for the year ended 31 August 2024

1

General information

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

The address of its registered office is:
33 Jubilee Way
Storrington
Pulborough
West Sussex
RH20 3NZ

These financial statements were authorised for issue by the director on 14 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.

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 and 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.

 

A J Frost Ltd

Notes to the Unaudited Financial Statements
for the year ended 31 August 2024

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.

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 statement of financial position 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

Motor vehicles

over 4 years

Office equipment

between 2 and 5 years

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.

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.

 

A J Frost Ltd

Notes to the Unaudited Financial Statements
for the year ended 31 August 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 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 statement of financial position 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.

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.

 

A J Frost Ltd

Notes to the Unaudited Financial Statements
for the year ended 31 August 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

726

31,167

31,893

Additions

799

8,995

9,794

At 31 August 2024

1,525

40,162

41,687

Depreciation

At 1 September 2023

707

24,239

24,946

Charge for the year

383

3,998

4,381

At 31 August 2024

1,090

28,237

29,327

Carrying amount

At 31 August 2024

435

11,925

12,360

At 31 August 2023

19

6,928

6,947

5

Stocks

2024
£

2023
£

Other inventories

550

550

6

Debtors

Current

2024
£

2023
£

 

-

-

 

A J Frost Ltd

Notes to the Unaudited Financial Statements
for the year ended 31 August 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

1,318

-

Trade creditors

 

1,272

2,378

Taxation and social security

 

9,839

7,293

Accruals and deferred income

 

1,007

1,007

Other creditors

 

29,644

27,403

 

43,080

38,081

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

3,246

-