Company Registration No. 04207605 (England and Wales)
JOHN GEORGE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021
PAGES FOR FILING WITH REGISTRAR
JOHN GEORGE LIMITED
COMPANY INFORMATION
Directors
Mr N L Cook
Mr K Bradbury
Mr J Williams
Secretary
Mrs C J Mortiss
Company number
04207605
Registered office
15a Harris Business Park
Hanbury Road
Stoke Prior
Bromsgrove
Worcestershire
B60 4DJ
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
National Westminster Bank Plc
124 High Street
Bromsgrove
Worcestershire
B61 8HJ
JOHN GEORGE LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 6
JOHN GEORGE LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF JOHN GEORGE LIMITED FOR THE YEAR ENDED 30 SEPTEMBER 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 John George Limited for the year ended 30 September 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 John George Limited, as a body, in accordance with
our
terms
of
engagement. Our work has been undertaken solely to prepare for your approval the financial statements of John George Limited
and state those matters that we have agreed to state to the Board of Directors of John George Limited, 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 John George Limited and its Board of Directors as a body, for
our work or for this report.
It is your duty to ensure that John George Limited 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 John George Limited. You consider that John George Limited 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 John George Limited. 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.
Ormerod Rutter Limited
3 February 2022
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
JOHN GEORGE LIMITED
BALANCE SHEET
AS AT 30 SEPTEMBER 2021
30 September 2021
- 2 -
2021
2020
Notes
£
£
£
£
Fixed assets
Investment properties
3
340,348
340,348
Current assets
Debtors
4
163,286
62,836
Cash at bank and in hand
8,830
63,561
172,116
126,397
Creditors: amounts falling due within one year
5
(51,510)
(41,496)
Net current assets
120,606
84,901
Total assets less current liabilities
460,954
425,249
Creditors: amounts falling due after more than one year
6
(107,536)
(141,508)
Net assets
353,418
283,741
Capital and reserves
Called up share capital
8
3
3
Profit and loss reserves
353,415
283,738
Total equity
353,418
283,741
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 September 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.
JOHN GEORGE LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2021
30 September 2021
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 3 February 2022 and are signed on its behalf by:
Mr K Bradbury
Director
Company Registration No. 04207605
JOHN GEORGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021
- 4 -
1
Accounting policies
Company information
John George Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
15a Harris Business Park, Hanbury Road, Stoke Prior, Bromsgrove, Worcestershire, B60 4DJ.
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 have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for
rents pro
vided in the normal course of business
, and
is shown net of VAT and other sales related taxes
. The fair value of consideration takes into account any lease premiums or rent free periods, which are recognised on a straight line basis over the lease term.
Revenue from the provision of property rental is recognised by reference to the period of its occupancy and
where the amount of rent can be measured reliably
.
1.3
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 profit or loss.
1.4
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. Taxable profit differs from net profit as reported in the
profit and loss account
because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
JOHN GEORGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2021
1
Accounting policies
(Continued)
- 5 -
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.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the
profit and loss account
, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 3
(2020 - 3).
3
Investment property
2021
£
Fair value
At 1 October 2020 and 30 September 2021
340,348
The directors have assessed the fair value of the investment property and consider that there has been no significant change in the fair value at the year end.
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Other debtors
163,286
62,836
5
Creditors: amounts falling due within one year
2021
2020
£
£
Bank loans and overdrafts
34,142
33,344
Trade creditors
229
Taxation and social security
16,389
7,367
Other creditors
750
785
51,510
41,496
JOHN GEORGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2021
- 6 -
6
Creditors: amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
107,536
141,508
7
Secured debts
The following secured debts are included within creditors:
2021
2020
£
£
Bank loans
141,678
174,852
Bank loans are secured by way of a fixed and floating charge over all assets of the company.
8
Called up share capital
2021
2020
£
£
Ordinary share capital
Issued and fully paid
3 Ordinary A of £1 each
3
3
3
3
9
Ultimate controlling party
There is no ultimate controlling party.