Company Registration No. 03867766 (England and Wales)
JAMSONS GEOTECHNICS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2021
PAGES FOR FILING WITH REGISTRAR
JAMSONS GEOTECHNICS LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
JAMSONS GEOTECHNICS LTD
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF JAMSONS GEOTECHNICS LTD FOR THE YEAR ENDED 30 APRIL 2021
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Jamsons Geotechnics Ltd for the year ended 30 April 2021 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance
.
This report is made solely to the Board of Directors of Jamsons Geotechnics Ltd, as a body, in accordance with the terms of our engagement
.
Our work has been undertaken solely to prepare for your approval the financial statements of Jamsons Geotechnics Ltd
and state those matters that we have agreed to state to the Board of Directors of Jamsons Geotechnics Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Jamsons Geotechnics Ltd and its Board of Directors as a body, for
our work or for this report.
It is your duty to ensure that Jamsons Geotechnics Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets,
liabilities, financial position and profit
of Jamsons Geotechnics Ltd. You consider that Jamsons Geotechnics Ltd is exempt from the statutory audit
requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Jamsons Geotechnics Ltd. For this reason, we have not verified the accuracy or completeness of the
accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Carpenter Box
20 October 2021
Chartered Accountants
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1RL
JAMSONS GEOTECHNICS LTD
BALANCE SHEET
AS AT
30 APRIL 2021
30 April 2021
- 2 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,459
4,550
Investment properties
4
1,315,000
1,246,371
1,318,459
1,250,921
Current assets
Debtors
13
Cash at bank and in hand
24,173
7,915
24,173
7,928
Creditors: amounts falling due within one year
5
(1,134,498)
(1,156,001)
Net current liabilities
(1,110,325)
(1,148,073)
Total assets less current liabilities
208,134
102,848
Provisions for liabilities
(34,258)
(14,148)
Net assets
173,876
88,700
Capital and reserves
Called up share capital
6
2
2
Profit and loss reserves
173,874
88,698
Total equity
173,876
88,700
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 April 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
JAMSONS GEOTECHNICS LTD
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2021
30 April 2021
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 21 October 2021 and are signed on its behalf by:
Mr N M Walsh
Director
Company Registration No. 03867766
JAMSONS GEOTECHNICS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2021
- 4 -
1
Accounting policies
Company information
Jamsons Geotechnics Ltd is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Heather Cottage, 121 Tupwood Lane, Caterham, Surrey, CR3 6DF.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
A
true
t the time of approving the financial statements
,
t
he directors have a reasonable expectation that the
company
has adequate resources to continue in operational existence for the foreseeable future.
This depends on the continued support of the directors, who have indicated that this is the case. The financial statements do not include any adjustments that would result from withdrawal of this support.
The directors have reviewed and considered the impact of Covid-19, The company operates in an sector not significantly affected by the restrictions imposed due to Covid-19 and revenue has continued during the period. The expectations are that this will continue for at least twelve months from the date of signing.
1.3
Turnover
Turnover
represents amounts receivable for rents, on a time apportioned basis, from investment properties.
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
10% p.a. diminishing balance
Computer equipment
25% p.a. straight line
Motor vehicles
10% p.a diminishing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.5
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure
. Subsequently it is measured
at fair value a
t
the reporting end date.
The surplus or deficit on revaluation is recognised in the profit and loss account.
JAMSONS GEOTECHNICS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2021
1
Accounting policies
(Continued)
- 5 -
1.6
Cash at bank and in hand
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs
.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from
fellow group companies and preference shares that are classified as debt, are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.9
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.10
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
1.11
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
JAMSONS GEOTECHNICS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2021
1
Accounting policies
(Continued)
- 6 -
1.12
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met
. Where a
grant does not specify performance conditions
it
is recognised in income when the proceeds are received or receivable
. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 1 (2020 - 1
).
3
Tangible fixed assets
Fixtures, fittings & equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 May 2020
347
8,057
1,000
9,404
Additions
508
508
At 30 April 2021
347
8,565
1,000
9,912
Depreciation and impairment
At 1 May 2020
105
4,627
122
4,854
Depreciation charged in the year
24
1,487
88
1,599
At 30 April 2021
129
6,114
210
6,453
Carrying amount
At 30 April 2021
218
2,451
790
3,459
At 30 April 2020
242
3,430
878
4,550
4
Investment property
2021
£
Fair value
At 1 May 2020
1,246,371
Revaluations
68,629
At 30 April 2021
1,315,000
JAMSONS GEOTECHNICS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2021
4
Investment property
(Continued)
- 7 -
Investment property comprises commercial and residential properties. The fair value of the investment properties have been arrived at on the basis of a valuation carried out by the directors at 30 April 202
1
. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. The total historical cost of the investment properties are £1,105,705.
5
Creditors: amounts falling due within one year
2021
2020
£
£
Taxation and social security
834
Other creditors
1,133,664
1,156,001
1,134,498
1,156,001
6
Called up share capital
2021
2020
2021
2020
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2