Ayjay Group Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03255933 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2022

for

AYJAY GROUP LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTORS:

A Hall

S Beament

C D Price

SECRETARY:

A Hall

REGISTERED OFFICE:

Ayjay House

Greenway

Bedwas House Industrial Estate

Caerphilly

CF83 8DW

REGISTERED NUMBER:

03255933 (England and Wales)

ACCOUNTANTS:

Hayvenhursts

Fairway House

Links Business Park

St Mellons

Cardiff

CF3 OLT

FIXED ASSETS

Intangible assets

4

54,200

54,200

Tangible assets

5

789,839

647,398

844,039

701,598

CURRENT ASSETS

Stocks

137,734

130,306

Debtors

6

1,640,486

1,966,232

Cash at bank and in hand

1,324,066

876,526

3,102,286

2,973,064

CREDITORS

Amounts falling due within one year

7

(1,229,037

)

(1,301,276

)

NET CURRENT ASSETS

1,873,249

1,671,788

TOTAL ASSETS LESS CURRENT LIABILITIES

2,717,288

2,373,386

CREDITORS

Amounts falling due after more than one year

8

-

(38,000

)

NET ASSETS

2,717,288

2,335,386

CAPITAL AND RESERVES

Called up share capital

81

81

Capital redemption reserve

9

296,500

296,500

Retained earnings

9

2,420,707

2,038,805

SHAREHOLDERS' FUNDS

2,717,288

2,335,386

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 29 November 2022 and were signed on its behalf by:

A Hall - Director

1.	STATUTORY INFORMATION

Ayjay Group Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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 the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

The financial statements are prepared under the going concern basis. The director believes this is appropriate as he believes that the company has the necessary resources at its disposal to meet its liabilities as they fall due.

The director is also of the view that COVID-19 does not impact the company's ability to continue as a going concern and has sufficient cash and liquidity to fund the company's operations as necessary.

The Director has a reasonable expectation that the company has adequate resources to continue in operational existence for a period of 12 months from the date of approval of these financial statements

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2021 - 24 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2021

and 30 September 2022

54,200

NET BOOK VALUE

At 30 September 2022

54,200

At 30 September 2021

54,200

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 October 2021

407,424

733,670

1,141,094

Additions

11,894

262,541

274,435

Disposals

-

(50,375

)

(50,375

)

At 30 September 2022

419,318

945,836

1,365,154

DEPRECIATION

At 1 October 2021

-

493,696

493,696

Charge for year

-

92,628

92,628

Eliminated on disposal

-

(11,009

)

(11,009

)

At 30 September 2022

-

575,315

575,315

NET BOOK VALUE

At 30 September 2022

419,318

370,521

789,839

At 30 September 2021

407,424

239,974

647,398

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

1,026,513

1,389,635

Due to associated co.

613,973

576,597

1,640,486

1,966,232

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Hire purchase contracts

39,048

-

Trade creditors

791,646

987,831

Tax

84,979

103,547

Social security and other taxes

53,843

60,742

VAT

139,420

57,180

Other creditors

27,239

18,194

Directors' current accounts

43,717

29,717

Accrued expenses

49,145

44,065

1,229,037

1,301,276

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans - 2-5 years

-

38,000

9.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1 October 2021

2,038,805

296,500

2,335,305

Profit for the year

569,002

569,002

Dividends

(187,100

)

(187,100

)

At 30 September 2022

2,420,707

296,500

2,717,207

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ayjay Group Ltd for the year ended 30 September 2022 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Ayjay Group Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ayjay Group Ltd and state those matters that we have agreed to state to the Board of Directors of Ayjay Group Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ayjay Group Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Ayjay Group Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ayjay Group Ltd. You consider that Ayjay Group 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 financial statements of Ayjay Group 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 financial statements.

Hayvenhursts

Fairway House

Links Business Park

St Mellons

Cardiff

CF3 OLT

29 November 2022