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AJK Research Limited
 

 
Unaudited Abbreviated Accounts
 
Year Ended 31 March 2016
 

 
Company Registration Number: 07159964

 

AJK Research Limited
Contents

Abbreviated Balance Sheet

1 to 2

Notes to the Abbreviated Accounts

3 to 4

 

AJK Research Limited
Abbreviated Balance Sheet
31 March 2016

   

Note

   

2016
£

   

2015
£

 

Fixed assets

 

             

Intangible fixed assets

 

2

   

41,250

   

56,250

 

Tangible fixed assets

 

2

   

2,402

   

5,462

 
   

   

43,652

   

61,712

 

Current assets

 

             

Debtors

 

   

53,803

   

55,794

 

Cash at bank and in hand

 

   

72,888

   

84,086

 
   

   

126,691

   

139,880

 

Creditors: Amounts falling due within one year

 

   

(55,185)

   

(43,439)

 

Net current assets

 

   

71,506

   

96,441

 

Net assets

 

   

115,158

   

158,153

 

Capital and reserves

 

             

Called up share capital

 

3

   

100

   

100

 

Profit and loss account

 

   

115,058

   

158,053

 

Shareholders' funds

 

   

115,158

   

158,153

 

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

 

AJK Research Limited
Abbreviated Balance Sheet
31 March 2016 ......... continued

For the year ending 31 March 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 21 September 2016 and signed on its behalf by:

Mr A J Kyle
Director


Company Registration Number: 07159964

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

 

AJK Research Limited
Notes to the Abbreviated Accounts
Year Ended 31 March 2016 ......... continued

1

Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

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 full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

During the year the directors reviewed the useful economic life of goodwill and determined that it needed to be reduced from 20 years to 5 years. As a result of this change the charge for amortisation was increased by £11,250.

Amortisation

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

Asset class

Amortisation method and rate

Goodwill

5 years

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

Equipment

25% straight line

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

 

AJK Research Limited
Notes to the Abbreviated Accounts
Year Ended 31 March 2016 ......... continued

2

Fixed assets

   

Intangible assets
£

   

Tangible assets
£

   

Total
£

 

Cost

                 

At 1 April 2015

 

75,000

   

24,604

   

99,604

 

At 31 March 2016

 

75,000

   

24,604

   

99,604

 

Depreciation

                 

At 1 April 2015

 

18,750

   

19,142

   

37,892

 

Charge for the year

 

15,000

   

3,060

   

18,060

 

At 31 March 2016

 

33,750

   

22,202

   

55,952

 

Net book value

                 

At 31 March 2016

 

41,250

   

2,402

   

43,652

 

At 31 March 2015

 

56,250

   

5,462

   

61,712

 

3

Share capital

Allotted, called up and fully paid shares

 

2016

2015

   

No.

   

£

   

No.

   

£

 

100 Ordinary shares of £1 each

 

100

   

100

   

100

   

100

 
                         

4

Related party transactions

Directors' advances and credits

 

2016
Advance/ Credit
£

2016
Repaid
£

2015
Advance/ Credit
£

2015
Repaid
£

Mrs H Kyle

Advances

8,589

8,589

6,265

6,265

         
         

Mr A J Kyle

Advances

8,589

8,589

6,265

6,265