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Registered Number: 10523061
England and Wales

 

 

 

AJILS OILS LTD



Abridged Accounts
 


Period of accounts

Start date: 01 January 2024

End date: 31 December 2024

Ajils Oils Ltd
Contents Page
For the year ended 31 December 2024
 
 		 Notes
 		 2024
£		   2023
£
Fixed assets      
Tangible fixed assets 3 16,213    25,145 
16,213    25,145 
Current assets      
Stocks 164,082    47,306 
Debtors: amounts falling due within one year 44,670    66,116 
Cash at bank and in hand 58,197    15,806 
266,949    129,228 
Creditors: amount falling due within one year (251,999)   (134,694)
Net current assets 14,950    (5,466)
 
Total assets less current liabilities 31,163    19,679 
Creditors: amount falling due after more than one year (32)   (847)
Net assets 31,131    18,832 
 

Capital and reserves 		     
Called up share capital 4 100    100 
Profit and loss account 31,031    18,732 
Shareholders' funds 31,131    18,832 
 


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

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 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. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 16 December 2025 and were signed by:


-------------------------------
Inam Ul Haq Nami
Director
1
General Information
Ajils Oils Ltd is a private company, limited by shares, registered in England and Wales, registration number 10523061, registration address Unit 1, R & B Industrial Estate, Lime Grove, Balsall Heath, Birmingham, West Midlands, England, B12 8SY.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Straight Line
Motor Vehicles 20% Straight Line
Fixtures and Fittings 20% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 6 (2023 : 6).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £
At 01 January 2024 5,763    22,400    9,100    37,263 
Additions -    -    -    - 
Disposals -    -    -    - 
At 31 December 2024 5,763    22,400    9,100    37,263 
Depreciation
At 01 January 2024 3,458    5,300    7,460    16,218 
Charge for year 1,152    2,860    820    4,832 
On disposals -    -    -    - 
At 31 December 2024 4,610    8,160    8,280    21,050 
Net book values
Closing balance as at 31 December 2024 1,153    14,240    820    16,213 
Opening balance as at 01 January 2024 2,305    21,200    1,640    25,145 


4.

Share Capital

Allotted, called up and fully paid
2024
£		   2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

2