Registered number:
J. P. R. (1994) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 December 2022
J. P. R. (1994) LIMITED
CONTENTS 0F THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2022
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Company information | 3 |
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Directors report | 4 |
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Profit and loss account | 5 |
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Balance sheet | 6 - 7 |
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Notes to the financial statements | 8 - 14 |
J. P. R. (1994) LIMITED
COMPANY INFORMATION
YEAR ENDED 31 DECEMBER 2022
Directors | Mr |
| Mr P Ruhleman |
| Mrs |
| Mrs |
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Secretary | Mr |
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Registered office | |
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| Devon |
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Registered number | 00734683 (England and Wales) |
J. P. R. (1994) LIMITED
REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2022
The directors present their annual report and the financial statements for the year ended 31 December 2022.
Principal activities
The principal activities of the company continued to be that of the sale of fuel and property rental.
Directors
The directors of the company who held office during the year and up to the date of signing these financial statements were:
Mr A J Ruhleman
Mr P Ruhleman
Mrs M B Ruhleman
Mrs D E Ruhleman
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption under the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
By order and on behalf of the board:
Mr P Ruhleman
Director and secretary
Date
J. P. R. (1994) LIMITED
INCOME STATEMENT/PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2022
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Turnover | ||
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Cost of sales | ( | ( |
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Gross profit | ||
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Administrative expenses | ( | ( |
Other operating income | ||
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Operating profit | ||
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Interest receivable and similar income | ||
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Profit before taxation | ||
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Tax on profit | ( | ( |
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Profit for the financial year |
The notes form part of these financial statements
J. P. R. (1994) LIMITED
BALANCE SHEET
AS AT
Company registration number 00734683
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FIXED ASSETS |
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Tangible fixed assets | 5 |
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Investment properties | 6 |
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CURRENT ASSETS |
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Stocks |
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Debtors | 7 |
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Cash at bank and in hand |
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Creditors: amounts falling |
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due within one year | 8 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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Provisions for liabilities | 11 |
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NET ASSETS |
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CAPITAL AND RESERVES |
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Called up share capital | 12 |
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Share premium account | 13 |
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Profit and loss reserves | 13 |
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Total equity |
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The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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. |
J. P. R. (1994) LIMITED
BALANCE SHEET (continued)
AS AT 31 DECEMBER 2022
Company registration number 00734683
These financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to and subject to the small companies regime.
The financial statements were approved and authorised for issue by
A J Ruhleman - Director
Company registration number 00734683
J. P. R. (1994) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2022
(1) STATUTORY INFORMATION
J. P. R. (1994) Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 00734683 and the registered office address is Pitt Arches, Raleigh Road, Barnstaple, Devon EX31 4HY.
The presentation currency of the financial statements is the Pound Sterling (£).
(2) STATEMENT OF COMPLIANCE
These financial statements have been prepared in accordance with the Financial Reporting Standard 102 (FRS 102) ''The Financial Reporting Standard applicable in the U K and Republic of Ireland'' including the provisions of Section 1A 'Small Entities'' and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of FRS 102 (S 1A) have been applied except where additional disclosure is needed to show a true and fair view.
(3) ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets to fair value.
Going concern
The financial statements cover this company as an individual entity. Rounding is to the nearest Pound (£).
The financial statements have been prepared on a going concern basis. The directors have considered the financial position of the company for the twelve months from the date of approving these financial statements and consider the going concern basis is appropriate.
Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amount reported for assets and liabilities at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The judgements and estimates having had the most significant effect on any amounts, such as the revalued investment properties by the directors, the depreciation of fixed assets, bad debts on debtors, and accruals in creditors; are recognised in the financial statements in the year they are discovered.
Turnover and revenue recognition
Turnover represents the net invoiced sales of goods and services, excluding value added tax, and is derived from the ordinary activities. Revenue is recognised when an invoice has been raised for the fuel sold or for the period the rent is due.
J. P. R. (1994) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 DECEMBER 2022
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its expected useful life:
Plant and machinery | |
Fixtures and fittings | |
Motor vehicles |
Computer equipment included in plant and machinery is depreciated over 3 years on cost.
Any gain or loss arising on the disposal of an asset is credited or charged to the profit and loss account. At the balance sheet date the directors review the assets for any impairment losses and provide for these losses where necessary in the profit and loss account.
Investment property
No depreciation is charged on investment properties as they are held at fair value in accordance with FRS 102 (Section 1A).
This represents a departure from the requirements of the Companies Act 2006, however this method of valuation is deemed to be appropriate as:
a) management has concluded that the financial statements present fairly the entity's financial position, financial performance and cash flows.
b) it has complied with applicable legislation, except that it has departed from a particular requirement of applicable legislation to achieve fair presentation.
c) to comply with the Companies Act 2006 a depreciation charge would be required against investment properties which would conflict with the objective of the financial statements set out in FRS 102 (Section 1A).
Any changes to the fair value is transferred to the Profit and Loss Reserve. Depreciation or Amortisation is only one of the many factors reflected in the valuation and the amount of depreciation which might have been charged cannot be separately identified or quantified.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Financial instruments
Financial instruments are defined as a contract which gives rise to a financial asset in one entity and a financial liability or equity instrument in another entity.
Basic financial instruments are classified under section 11 of FRS 102 and are held at amortised cost. These include bank and cash in hand, all creditors, all debtors, and other non-complicated loans when applicable.
J. P. R. (1994) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 DECEMBER 2022
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Taxable profit differs from the net profit as reported in the profit and loss account because this includes items of expenditure which are not tax deductible.
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.
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash at bank, deposits held at the bank and other short term investments.
If the bank were overdrawn at the year end this would be shown separately within current liabilities.
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which these are taken or paid.
Equity instruments
Equity instruments of share capital and share premium are recorded at the proceeds when they were received by the company. When dividends are declared by the company they are recognised as liabilities of the company until paid to the shareholders.
J. P. R. (1994) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 DECEMBER 2022
(4) EMPLOYEES AND DIRECTORS
The average number of employees during the year was
(5) TANGIBLE FIXED ASSETS
| Plant and | Fixtures and | Motor | Totals |
| Machinery | Fittings | vehicles |
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COST |
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At 1 January 2022 | ||||
Disposals - scrapped | ( | ( | ( | |
At 31 December 2022 | ||||
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DEPRECIATION |
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At 1 January 2022 | ||||
Charge for the year | ||||
Eliminated on scrapping | ( | ( | ( | |
At 31 December 2022 | ||||
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NET BOOK VALUE |
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At 31 December 2022 | ||||
At 31 December 2021 |
J. P. R. (1994) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 DECEMBER 2022
(6) INVESTMENT PROPERTY
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FAIR VALUE |
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Additions | |
Revaluation to fair value | |
At 31 December 2022 | |
NET BOOK VALUE |
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At 31 December 2022 | |
At 31 December 2021 |
Fair value at 31 December 2022 is represented by: |
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Valuation in 2009 | 891,866 |
Valuation in 2010 | 50,000 |
Valuation in 2018 | (200,000) |
Valuation in 2021 | 8,272 |
Valuation in 2022 | 13,000 |
Cost | 341,862 |
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If investment properties had not been revalued they would have been included at the following historic cost:
| 2022 | 2021 |
Cost |
Investment properties were valued on an open market basis on 31 December 2022 by the directors of this company.
Investment properties comprise freehold property of £215,574 and long leasehold properties of £126,288. The directors have valued the investment properties at their considered open market value and have reviewed that open market value at 31 December 2022 and consider the current valuation shown is at fair value.
(7) DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
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Trade debtors | ||
Other debtors | ||
Prepayments | ||
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J. P. R. (1994) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 DECEMBER 2022
(8) CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
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Trade creditors | ||
Corporation tax | ||
Social security and other taxes | ||
Directors current accounts | ||
Accruals and deferred income | ||
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(9) LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
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Within one year | ||
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In more than five years | ||
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The leasing agreements consist of operating leases on properties with leases of 51 years still remaining to the expiry date.
(10) FINANCIAL INSTRUMENTS
All financial instruments of all debtors, cash at bank and in hand and all creditors are shown at cost.
(11) PROVISIONS FOR LIABILITIES
| 2022 | 2021 |
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Deferred tax | 47,712 | 45,679 |
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Balance at 1 January 2022 | ||
Movement in deferred tax |
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capital allowances | ( | ( |
investment property | ||
Balance at 31 December 2022 |
J. P. R. (1994) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (continued)
YEAR ENDED 31 DECEMBER 2022
(12) CALLED UP SHARE CAPITAL
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Allotted, issued and fully paid: |
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(13) RESERVES
| Retained | Share | Totals |
| earnings | Premium |
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At 1 January 2022 | 1,046,009 | ||
Profit for the year |
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Revaluation of investment property |
| 13,000 | |
Dividends |
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At 31 December 2022 | 1,071,274 |
At the balance sheet date retained earnings included an aggregate of un-distributable profits relating to the revaluation of investment properties totalling £770,975 (2021 £757,975)
(14) RELATED PARTY DISCLOSURES
During the year, and for the 2021 year, no dividends were paid to the shareholders.
At the balance sheet date the company owed a director £
No interest is charged on any balances outstanding.
During the year the company was controlled by Mr and Mrs