AJ Developments (Spur Hill) Limited - Period Ending 2021-09-30

AJ Developments (Spur Hill) Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 6

AJ Developments (Spur Hill) Limited

Company Information

Directors

Mr M S Adams Mr S Janes

Registered office

202 Sandbanks Road Poole BH14 8HA

Accountants

PKF Francis Clark Towngate House 2-8 Parkstone Road Poole BH15 2PW

AJ Developments (Spur Hill) Limited

Balance Sheet

30 September 2021

	Note	2021 £	2020 £
Current assets
Debtors	4	160,214	420,601
Cash at bank and in hand		242	26
		160,456	420,627
Creditors: Amounts falling due within one year	5	(148,377)	(8,217)
Total assets less current liabilities		12,079	412,410
Creditors: Amounts falling due after more than one year	5	(49,592)	(308,459)
Net (liabilities)/assets		(37,513)	103,951
Capital and reserves
Called up share capital		100	100
Profit and loss account		(37,613)	103,851
Shareholders' (deficit)/funds		(37,513)	103,951

AJ Developments (Spur Hill) Limited

Balance Sheet

30 September 2021

For the financial year ending 30 September 2021 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 21 June 2022 and signed on its behalf by:
 

......................................... Mr S Janes Director

Company Registration Number: 10974664

AJ Developments (Spur Hill) Limited

Notes to the Unaudited Financial Statements

Year Ended 30 September 2021

1	General information

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

The address of its registered office is:
202 Sandbanks Road
Poole
BH14 8HA
England

These financial statements were authorised for issue by the Board on 21 June 2022.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' 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.

Going concern

The balance sheet shows an excess of total liabilities, however the accounts have been prepared on a going concern basis due to the continued support of the directors and parent company who are the only major creditor.

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 and after eliminating sales within the company.

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

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.

AJ Developments (Spur Hill) Limited

Notes to the Unaudited Financial Statements

Year Ended 30 September 2021

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 stocks 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.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank 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 0 (2020 - 0).

AJ Developments (Spur Hill) Limited

Notes to the Unaudited Financial Statements

Year Ended 30 September 2021

4

Debtors

	2021 £	2020 £
Other debtors	160,214	420,601
	160,214	420,601

5

Creditors

Creditors: amounts falling due within one year

	2021 £	2020 £
Due within one year
Trade creditors	-	2,390
Corporation tax	-	4,363
Taxation and social security	-	64
Accruals and deferred income	2,880	1,400
Amounts owed to parent undertakings	145,497	-
	148,377	8,217

Creditors: amounts falling due after more than one year

	Note	2021 £	2020 £
Due after one year
Loans and borrowings	6	49,592	308,459

6	Loans and borrowings

	2021 £	2020 £
Loans and borrowings due after one year
Other borrowings	49,592	308,459

7	Parent and ultimate parent undertaking

The company's immediate parent is AJ Property Group Ltd, incorporated in England and Wales.