AAJ Enterprises Limited - Filleted accounts

AAJ ENTERPRISES LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MAY 2017

































Company Registration Number: 06233541

AAJ ENTERPRISES LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2017


CONTENTS									PAGES



Company information									1

Balance sheet									2

Notes to the financial statements									3 to 6

AAJ ENTERPRISES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2017


DIRECTOR

Mr AA Jamieson


SECRETARY

The company does not have an appointed secretary


REGISTERED OFFICE

Harvestway House
28 High Street
Witney
Oxfordshire
OX28 6RA


COMPANY REGISTRATION NUMBER

06233541 England and Wales

AAJ ENTERPRISES LIMITED

BALANCE SHEET
AS AT 31 May 2017


	Notes	2017		2016
		£		£

CURRENT ASSETS
Debtors	6	38,534		17,212
Cash at bank and in hand		-		202


		38,534		17,414

CREDITORS: Amounts falling due within one year	7	25,290		16,701
CREDITORS: Amounts falling due within one year


NET CURRENT ASSETS			13,244		713


NET ASSETS			13,244		713


CAPITAL AND RESERVES
Called up share capital			100		100
Distributable profit and loss account			13,144		613


SHAREHOLDER'S FUNDS			13,244		713


These accounts have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.

For the financial year ended 31 May 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

Members have not required the company to obtain an audit in accordance with section 476 of the Act.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.


Signed on behalf of the board


Mr AA Jamieson
Director

Date approved by the board: 28 February 2018

AAJ ENTERPRISES LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2017


1	GENERAL INFORMATION

	AAJ Enterprises Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:

	Harvestway House
	28 High Street
	Witney
	Oxfordshire
	OX28 6RA

	The financial statements are presented in Sterling, which is the functional currency of the company.

2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

	Basis of preparation of financial statements

	These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.

	Going concern

The company ceased to trade on 31 May 2017, therefore the accounts have not been prepared on the going concern basis.


	Revenue recognition

	Turnover represents the value of business consultancy services rendered.

The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.


2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)

	Financial Instruments

	The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

	Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in profit and loss.

The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.


	Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

	Impairment of non-financial assets

	At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

	If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss.


	Debtors

	Short term debtors are measured at transaction price, less any impairment.

	Creditors

	Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.

3	TRANSITION TO FRS 102

	This is the first year in which the financial statements have been prepared under FRS 102. Note 8 gives an explanation of the effects of the transition.

4	CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

	No significant accounting estimates and judgements have had to be made by the directors in preparing these financial statements.

5	EMPLOYEES

	The average number of persons employed by the company (including directors) during the year was:

		2017	2016
	Average number of employees	1	1


6	DEBTORS
		2017	2016
		£	£
	Trade debtors	-	861
	Corporation tax recoverable	8,711	3,270
	Other debtors	29,823	13,081


		38,534	17,212

Included in other debtors is an advance to the director (Note ) of £29,823 (2016 = £13,081). Interest has been charged on this advance at the Beneficial Loan Arrangement Official Rate as prescribed by HM Revenue and Customs. The advance has no fixed date of repayment.


7	CREDITORS: Amounts falling due within one year
		2017	2016
		£	£
	Corporation tax	21,092	12,684
	Accruals and deferred income	1,321	1,321
	Other creditors	2,877	2,696


		25,290	16,701


8	RECONCILIATIONS ON ADOPTION OF FRS 102

	These financial statements for the year ended 31 May 2017 are the first financial statements that comply with FRS 102. The date of transition to FRS 102 is 1 June 2015.

	Profit and loss for the year ended 31 May 2016		£
	Profit for the year under former UK GAAP		23,903


	Profit for the year under FRS 102		23,903


	Balance sheet at 31 May 2016		£
	Equity under former UK GAAP		713


	Equity under FRS 102		713


	Balance sheet at 1 June 2015		£
	Equity under former UK GAAP		591


	Equity under FRS 102		591