Company Registration No. 5329359 (England and Wales)
GRAHAM JAMES ASSOCIATES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
PAGES FOR FILING WITH REGISTRAR
GRAHAM JAMES ASSOCIATES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
GRAHAM JAMES ASSOCIATES LIMITED
BALANCE SHEET
AS AT
31 MARCH 2021
31 March 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
4
85,075
85,078
Current assets
Cash at bank and in hand
3,199
14,786
Creditors: amounts falling due within one year
5
(4,593)
(2,461)
Net current (liabilities)/assets
(1,394)
12,325
Net assets
83,681
97,403
Capital and reserves
Called up share capital
1,035
1,035
Share premium account
104,965
104,965
Profit and loss reserves
(22,319)
(8,597)
Total equity
83,681
97,403
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 31 March 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.
The financial statements were approved by the board of directors and authorised for issue on 23 September 2021 and are signed on its behalf by:
Mr G R Horne
Director
Company Registration No. 5329359
GRAHAM JAMES ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
- 2 -
1
Accounting policies
Company information
Graham James Associates Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Newlyn, Kingsdown Lane, Blunsdon, Swindon, Wiltshire, United Kingdom, SN25 5DL.
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. 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 goods and services provided 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 trade discounts, settlement discounts and volume rebates.
1.3
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:
Freehold land and buildings
Freehold land is not depreciated
Plant and equipment
25% on reducing balance
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
GRAHAM JAMES ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
- 3 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
4
4
4
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Total
£
£
£
Cost
At 1 April 2020 and 31 March 2021
85,066
678
85,744
Depreciation and impairment
At 1 April 2020
666
666
Depreciation charged in the year
3
3
At 31 March 2021
669
669
Carrying amount
At 31 March 2021
85,066
9
85,075
At 31 March 2020
85,066
12
85,078
5
Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
2,102
Taxation and social security
600
600
Other creditors
1,891
1,861
4,593
2,461