AJC Developments (South) Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 9

AJC Developments (South) Limited

Balance Sheet

31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	51,454	76,925
Current assets
Stocks	5	1,045,209	1,311,293
Debtors	6	2,016,553	2,792,493
Cash at bank and in hand		1,622,452	1,084,488
		4,684,214	5,188,274
Creditors: Amounts falling due within one year	7	(3,815,523)	(4,354,996)
Net current assets		868,691	833,278
Total assets less current liabilities		920,145	910,203
Creditors: Amounts falling due after more than one year	7	(68,050)	(242,039)
Net assets		852,095	668,164
Capital and reserves
Called up share capital		3	3
Profit and loss account		852,092	668,161
Shareholders' funds		852,095	668,164

AJC Developments (South) Limited

Balance Sheet

31 December 2024

For the financial year ending 31 December 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 year 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.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 1 September 2025 and signed on its behalf by:
 

......................................... D T Cracklen Director

Company Registration Number: 11193149

AJC Developments (South) Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

1	General information

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

The address of its registered office is:
4 Joshuas Vista
Sandbanks Road
Poole
Dorset
BH14 8HA

These financial statements were authorised for issue by the Board on 1 September 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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', including Section 1A and the Companies Act 2006.

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.

These financial statements have been prepared in pound sterling (£) and rounded to the nearest whole pound.

Revenue recognition

Turnover arises through the contracting activities and represents the value of work done in the year, in accordance with the company's accounting policy on construction contracts. Turnover is net of value added tax and trade discounts.

Contract revenue and contract costs are recognised by reference to the stage of completion of the contract activity at the reporting date and the attributable profit recognised is that estimated to fairly reflect the profit arising up to that date.

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.

The current corporation 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.

AJC Developments (South) Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

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
Office Equipment	15% straight line basis
Computer Equipment	33% straight line basis
Plant and Machinery	20% straight line basis
Short Leasehold Improvements	20% straight line basis

Work in progress

Work in progress is stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of work in progress comprises direct land acquisition and planning costs and, where applicable, direct labour costs and those overheads that have been incurred. At each reporting date, work in progress is assessed for impairment. If work in progress is 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.

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.

AJC Developments (South) Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 33 (2023 - 37).

AJC Developments (South) Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

4	Tangible assets

	Short leasehold improvements £	Office and computer equipment £	Plant and machinery £	Total £
Cost or valuation
At 1 January 2024	-	133,278	2,405	135,683
Additions	2,708	9,423	-	12,131
At 31 December 2024	2,708	142,701	2,405	147,814
Depreciation
At 1 January 2024	-	57,783	975	58,758
Charge for the year	85	37,059	458	37,602
At 31 December 2024	85	94,842	1,433	96,360
Carrying amount
At 31 December 2024	2,623	47,859	972	51,454
At 31 December 2023	-	75,495	1,430	76,925

Included within the net book value of land and buildings above is £2,623 (2023 - £Nil) in respect of short leasehold land and buildings.
 

5

Stocks

	2024 £	2023 £
Work in progress	1,045,209	1,311,293

6

Debtors

	2024 £	2023 £
Trade debtors	1,724,158	1,931,897
Other loans	20,415	-
Prepayments and accrued income	122,114	41,705
Other debtors	149,866	818,891
	2,016,553	2,792,493

AJC Developments (South) Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

7

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	8	199,381	471,556
Trade creditors		1,675,495	2,439,489
Corporation tax		163,268	98,000
Taxation and social security		78,265	169,742
Accruals and deferred income		1,502,638	805,600
Other creditors		196,476	370,609
		3,815,523	4,354,996

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	8	24,537	30,092
Other creditors		43,513	211,947
		68,050	242,039

AJC Developments (South) Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

8	Loans and borrowings

Non-current loans and borrowings

	2024 £	2023 £
Bank borrowings	24,537	30,092

Current loans and borrowings

	2024 £	2023 £
Bank borrowings	5,556	5,556
Other borrowings	193,825	466,000
	199,381	471,556

9	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £129,238 (2023 - £208,037). These commitments are in respect of operating leases and are payable over the next 3 years.

10	Related party transactions

Transactions with directors

2024	At 1 January 2024 £	Advances to director £	Repayments by director £	At 31 December 2024 £
S T Janes
Director's loan account	71,145	-	(54,000)	17,145
D T Cracklen
Director's loan account	(16,000)	75,675	(64,787)	(5,112)
M S Adams
Director's loan account	54,785	-	(54,000)	785

AJC Developments (South) Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

2023	At 1 August 2022 £	Advances to director £	Repayments by director £	At 31 December 2023 £
S T Janes
Director's loan account	24,000	71,145	(24,000)	71,145
D T Cracklen
Director's loan account	24,000	54,000	(94,000)	(16,000)
M S Adams
Director's loan account	23,534	55,251	(24,000)	54,785