A. J Components Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03870914 (England and Wales)

A. J COMPONENTS LTD

Unaudited Financial Statements

for the Year Ended 31 December 2019

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

8

Directors:

Mr D J Scanes

Mr R B Scanes

Mrs A J Staples

Mr P Scanes

Mrs J R Scanes

Mrs S I Scanes

Secretary:

Mrs A J Staples

Registered office:

Artisans House

7 Queensbridge

Northampton

Northamptonshire

NN4 7BF

Registered number:

03870914 (England and Wales)

Accountants:

Cobley Desborough

Chartered Certified Accountants

Chartered Tax Advisers

Artisans' House

7 Queensbridge

Northampton

Northamptonshire

NN4 7BF

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

20,618

276,124

Investments

6

1

1

20,619

276,125

CURRENT ASSETS

Stocks

365,823

860,504

Debtors

7

859,953

583,209

Cash at bank and in hand

64,908

149,435

1,290,684

1,593,148

CREDITORS

Amounts falling due within one year

8

871,175

1,282,577

NET CURRENT ASSETS

419,509

310,571

TOTAL ASSETS LESS CURRENT LIABILITIES

440,128

586,696

CREDITORS

Amounts falling due after more than one year

9

(97,228

)

(157,990

)

PROVISIONS FOR LIABILITIES

(3,917

)

(52,464

)

NET ASSETS

338,983

376,242

CAPITAL AND RESERVES

Called up share capital

290,000

290,000

Retained earnings

48,983

86,242

SHAREHOLDERS' FUNDS

338,983

376,242

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 September 2020 and were signed on its behalf by:

Mr D J Scanes - Director

1.	STATUTORY INFORMATION

A. J Components 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.

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 2009, is being amortised evenly over its estimated useful life of five 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.

Plant and machinery etc

-

25% on cost, 25% on reducing balance and 15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of

Income and Retained Earnings, 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.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are

recorded at transaction price. Any losses arising from impairment are recognised in the profit and

loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2018 - 21 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

Cost

At 1 January 2019

and 31 December 2019

40,000

Amortisation

At 1 January 2019

and 31 December 2019

40,000

Net book value

At 31 December 2019

-

At 31 December 2018

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

Cost

At 1 January 2019

398,713

Disposals

(269,338

)

At 31 December 2019

129,375

Depreciation

At 1 January 2019

122,589

Charge for year

9,946

Eliminated on disposal

(23,778

)

At 31 December 2019

108,757

Net book value

At 31 December 2019

20,618

At 31 December 2018

276,124

Included in the total net book value of tangible fixed assets held was £5420 in respect of assets held

under finance leases and hire purchase contracts.

6.	FIXED ASSET INVESTMENTS

Other

investments

£

Cost

At 1 January 2019

and 31 December 2019

1

Net book value

At 31 December 2019

1

At 31 December 2018

1

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

350,678

509,749

Other debtors

509,275

73,460

859,953

583,209

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

22,910

21,821

Hire purchase contracts (see note 10)

6,614

13,030

Trade creditors

405,269

675,997

Taxation and social security

5,197

8,141

Other creditors

431,185

563,588

871,175

1,282,577

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans

97,228

120,138

Hire purchase contracts (see note 10)

-

37,852

97,228

157,990

10.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2019

2018

£

£

Net obligations repayable:

Within one year

6,614

13,030

Between one and five years

-

37,852

6,614

50,882

Non-cancellable

operating leases

2019

2018

£

£

Within one year

7,500

30,000

Between one and five years

-

7,500

7,500

37,500