AJ Options Ltd - Period Ending 2014-08-31

Registration number: SC229017

AJ Options Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 August 2014
 

AIMS Accountants for Business
12 Ravenshall
Cleland
Motherwell
Lanarkshire
ML1 5HT

AJ Options Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
AJ Options Ltd
for the Year Ended 31 August 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of AJ Options Ltd for the year ended 31 August 2014 set out on pages from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of AJ Options Ltd, as a body, in accordance with the terms of our engagement letter dated 28 June 2010. Our work has been undertaken solely to prepare for your approval the accounts of AJ Options Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Chartered Institute of Management Accountants. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than AJ Options Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that AJ Options Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of AJ Options Ltd. You consider that AJ Options Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of AJ Options Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

AIMS Accountants for Business
12 Ravenshall
Cleland
Motherwell
Lanarkshire
ML1 5HT

6 October 2014

Page 1

AJ Options Ltd
(Registration number: SC229017)
Abbreviated Balance Sheet at 31 August 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					2,322			2,389
Current assets
Stocks					14,697			16,064
Debtors					409			14
Cash at bank and in hand					25,085			5,024
					40,191			21,102
Creditors: Amounts falling due within one year					(32,190)			(21,759)
Net current assets/(liabilities)					8,001			(657)
Total assets less current liabilities					10,323			1,732
Provisions for liabilities					(465)			(304)
Net assets					9,858			1,428
Capital and reserves
Called up share capital		3			2			2
Profit and loss account					9,856			1,426
Shareholders' funds					9,858			1,428

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 2

AJ Options Ltd
(Registration number: SC229017)
Abbreviated Balance Sheet at 31 August 2014
......... continued

For the year ending 31 August 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 6 October 2014 and signed on its behalf by:

.........................................
Mr Alexander Hush
Director

.........................................
Mrs Jennifer Ferguson
Director

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 3

AJ Options Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 August 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, excluding value added tax, in respect of the provision of services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Improvements to property	10% on cost
Fixtures and fittings	25% on cost
Computer Equipment	33% on cost

Work in progress

Work in progress is valued at the lower of cost and net realisable value, Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Page 4

AJ Options Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 August 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 September 2013		14,760			14,760
Additions		586			586
At 31 August 2014		15,346			15,346
Depreciation
At 1 September 2013		12,371			12,371
Charge for the year		653			653
At 31 August 2014		13,024			13,024
Net book value
At 31 August 2014		2,322			2,322
At 31 August 2013		2,389			2,389

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary Shares of £1 each		2			2			2			2

Page 5