Period from 1 December 2019 to
Registration number:
AJ Developments (Wainsford) Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
AJ Developments (Wainsford) Limited
Company Information
Directors |
M S Adams S Janes P A Johnson D P R Palmer |
Registered office |
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Accountants |
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AJ Developments (Wainsford) Limited
Balance Sheet
31 March 2021
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2019 |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Net (liabilities)/assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' (deficit)/funds |
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AJ Developments (Wainsford) Limited
Balance Sheet
31 March 2021
For the financial period ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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
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Company Registration Number: 11052606
AJ Developments (Wainsford) Limited
Notes to the Unaudited Financial Statements
Period from 1 December 2019 to 31 March 2021
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of properties in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
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.
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.
AJ Developments (Wainsford) Limited
Notes to the Unaudited Financial Statements
Period from 1 December 2019 to 31 March 2021
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.
Financial instruments
Classification
• 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
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Stocks |
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2019 |
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Work in progress |
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AJ Developments (Wainsford) Limited
Notes to the Unaudited Financial Statements
Period from 1 December 2019 to 31 March 2021
Debtors |
2021 |
2019 |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2021 |
2019 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
2021 |
2019 |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
2021 |
2019 |
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Loans and borrowings due after one year |
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Bank borrowings |
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Bank borrowings from Lloyds Bank PLC, were secured over all assets of the company by way of charges dated 27 March 2018 and 23 April 2018. The loans were repaid during the period.