AJK Research Limited 07159964 false 2018-04-01 2019-03-31 2019-03-31 The principal activity of the company is the provision of research services. Digita Accounts Production Advanced 6.24.8820.0 Software true 07159964 2018-04-01 2019-03-31 07159964 2019-03-31 07159964 bus:OrdinaryShareClass1 2019-03-31 07159964 core:RetainedEarningsAccumulatedLosses 2019-03-31 07159964 core:ShareCapital 2019-03-31 07159964 core:CurrentFinancialInstruments 2019-03-31 07159964 core:CurrentFinancialInstruments core:WithinOneYear 2019-03-31 07159964 core:Goodwill 2019-03-31 07159964 core:FurnitureFittingsToolsEquipment 2019-03-31 07159964 core:LandBuildings 2019-03-31 07159964 bus:SmallEntities 2018-04-01 2019-03-31 07159964 bus:AuditExemptWithAccountantsReport 2018-04-01 2019-03-31 07159964 bus:FullAccounts 2018-04-01 2019-03-31 07159964 bus:RegisteredOffice 2018-04-01 2019-03-31 07159964 bus:Director1 2018-04-01 2019-03-31 07159964 bus:Director2 2018-04-01 2019-03-31 07159964 bus:OrdinaryShareClass1 2018-04-01 2019-03-31 07159964 bus:PrivateLimitedCompanyLtd 2018-04-01 2019-03-31 07159964 core:Goodwill 2018-04-01 2019-03-31 07159964 core:FurnitureFittingsToolsEquipment 2018-04-01 2019-03-31 07159964 core:LandBuildings 2018-04-01 2019-03-31 07159964 core:LeaseholdImprovements 2018-04-01 2019-03-31 07159964 core:OfficeEquipment 2018-04-01 2019-03-31 07159964 countries:AllCountries 2018-04-01 2019-03-31 07159964 2018-03-31 07159964 core:Goodwill 2018-03-31 07159964 core:FurnitureFittingsToolsEquipment 2018-03-31 07159964 core:LandBuildings 2018-03-31 07159964 2017-04-01 2018-03-31 07159964 2018-03-31 07159964 bus:OrdinaryShareClass1 2018-03-31 07159964 core:RetainedEarningsAccumulatedLosses 2018-03-31 07159964 core:ShareCapital 2018-03-31 07159964 core:CurrentFinancialInstruments 2018-03-31 07159964 core:CurrentFinancialInstruments core:WithinOneYear 2018-03-31 07159964 core:Goodwill 2018-03-31 07159964 core:FurnitureFittingsToolsEquipment 2018-03-31 07159964 core:LandBuildings 2018-03-31 iso4217:GBP xbrli:pure xbrli:shares

AJK Research Limited

Annual Report and Unaudited Financial Statements
Year Ended 31 March 2019

Registration number: 07159964

 

AJK Research Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 8

 

AJK Research Limited

Company Information

Directors

Mr A J Kyle

Mrs H Kyle

Registered office

Sigma House
Edginswell Park
Torquay
Devon
TQ2 7FF

Accountants

Francis Clark LLP
Sigma House
Oak View Close
Edginswell Park
Torquay
Devon
TQ2 7FF

 

AJK Research Limited

Balance Sheet

31 March 2019

Note

2019
£

2018
£

Fixed assets

 

Intangible assets

4

-

11,250

Tangible assets

5

8,184

4,195

 

8,184

15,445

Current assets

 

Debtors

6

93,699

64,314

Cash at bank and in hand

 

40,606

24,528

 

134,305

88,842

Creditors: Amounts falling due within one year

7

(58,317)

(46,050)

Net current assets

 

75,988

42,792

Net assets

 

84,172

58,237

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

84,072

58,137

Total equity

 

84,172

58,237

 

AJK Research Limited

Balance Sheet

31 March 2019

For the financial year ending 31 March 2019 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 15 October 2019 and signed on its behalf by:
 

.........................................
Mr A J Kyle
Director

   
     

Company Registration Number: 07159964

 

AJK Research Limited

Notes to the Financial Statements

Year Ended 31 March 2019

1

General information

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

The address of its registered office is:
Sigma House
Edginswell Park
Torquay
Devon
TQ2 7FF

The principal place of business is:
142B Above Town
Dartmouth
Devon
TQ6 9RH

These financial statements were authorised for issue by the Board on 15 October 2019.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', including Section 1A 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.

The financial statements have been presented in sterling and rounded to the nearest £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first fill financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

 

AJK Research Limited

Notes to the Financial Statements

Year Ended 31 March 2019

Asset class

Amortisation method and rate

Goodwill

5 years

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Office equipment

25% straight line

Leasehold improvements

20% straight line

Tax

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.

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using ttax rates and laws that have been enacted or substantively enacted by the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

 

AJK Research Limited

Notes to the Financial Statements

Year Ended 31 March 2019

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• 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.

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.



 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2018 - 2).

 

AJK Research Limited

Notes to the Financial Statements

Year Ended 31 March 2019

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2018

75,000

75,000

At 31 March 2019

75,000

75,000

Amortisation

At 1 April 2018

63,750

63,750

Amortisation charge

11,250

11,250

At 31 March 2019

75,000

75,000

Carrying amount

At 31 March 2019

-

-

At 31 March 2018

11,250

11,250

5

Tangible assets

Leasehold improvements
£

Office equipment
 £

Total
£

Cost or valuation

At 1 April 2018

-

30,812

30,812

Additions

4,880

2,189

7,069

At 31 March 2019

4,880

33,001

37,881

Depreciation

At 1 April 2018

-

26,617

26,617

Charge for the year

976

2,104

3,080

At 31 March 2019

976

28,721

29,697

Carrying amount

At 31 March 2019

3,904

4,280

8,184

At 31 March 2018

-

4,195

4,195

 

AJK Research Limited

Notes to the Financial Statements

Year Ended 31 March 2019

6

Debtors

2019
£

2018
£

Trade debtors

93,699

64,314

93,699

64,314

7

Creditors

Creditors: amounts falling due within one year

2019
£

2018
 £

Due within one year

Social security and other taxes

43,221

23,523

Other creditors

6,846

19,527

Accrued expenses

8,250

3,000

58,317

46,050

8

Share capital

Allotted, called up and fully paid shares

 

2019

2018

 

No.

£

No.

£

100 Ordinary shares of £ 1 each

100

100

100

100