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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2020 |
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NJS DEVELOPMENTS LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2020 |
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FOR |
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NJS DEVELOPMENTS LIMITED |
NJS DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05684539) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2020 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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NJS DEVELOPMENTS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2020 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Croft Chambers |
11 Bancroft |
Hitchin |
Hertfordshire |
SG5 1JQ |
NJS DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05684539) |
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STATEMENT OF FINANCIAL POSITION |
31 MARCH 2020 |
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31.3.20 | 31.3.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Fair value reserve | 10 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
NJS DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05684539) |
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STATEMENT OF FINANCIAL POSITION - continued |
31 MARCH 2020 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
signed on its behalf by: |
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NJS DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05684539) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2020 |
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1. | STATUTORY INFORMATION |
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NJS Developments Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements have been prepared on a going concern basis which assumes the continued support of |
the directors. |
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Turnover |
Turnover represents net rents receivable. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Computer equipment | - |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in |
fair value is recognised in profit or loss. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 statement of financial position date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position date. |
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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. |
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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. |
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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. |
NJS DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05684539) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2020 |
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2. | ACCOUNTING POLICIES - continued |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2019 - NIL). |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 April 2019 |
and 31 March 2020 |
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DEPRECIATION |
At 1 April 2019 |
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Charge for year |
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At 31 March 2020 |
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NET BOOK VALUE |
At 31 March 2020 |
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At 31 March 2019 |
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5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2019 |
and 31 March 2020 |
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NET BOOK VALUE |
At 31 March 2020 |
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At 31 March 2019 |
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Fair value at 31 March 2020 is represented by: |
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£ |
Valuation in 2016 | 174,382 |
Valuation in 2018 | 373,500 |
Valuation in 2019 | (100,000 | ) |
Cost | 952,118 |
1,400,000 |
NJS DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05684539) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2020 |
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5. | INVESTMENT PROPERTY - continued |
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If investment property had not been revalued it would have been included at the following historical cost: |
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31.3.20 | 31.3.19 |
£ | £ |
Cost | 952,118 | 952,118 |
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Investment property was last valued on an open market basis on 31 March 2019 by the directors and estate agents |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.20 | 31.3.19 |
£ | £ |
Prepayments |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.20 | 31.3.19 |
£ | £ |
Other loans |
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Trade creditors |
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Tax |
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Other creditors |
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Directors' current accounts | 5,140 | 4,143 |
Accrued expenses |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.3.20 | 31.3.19 |
£ | £ |
Other loans - 1-2 years | 6,624 | 6,624 |
Other loans - 2-5 years | 20,378 | 20,378 |
Other loans more 5yrs instal | 96,712 | 103,360 |
Other loans more 5yrs non-inst | 586,639 | 593,413 |
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Amounts falling due in more than five years: |
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Repayable otherwise than by instalments |
Other loans more 5yrs non-inst | 586,639 | 593,413 |
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Repayable by instalments |
Other loans more 5yrs instal | 96,712 | 103,360 |
NJS DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05684539) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2020 |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.3.20 | 31.3.19 |
£ | £ |
Other loans |
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The mortgages are secured on the freehold property plus a personal guarantee given by the directors. |
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10. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 April 2019 |
and 31 March 2020 |
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Reserves includes non distributable reserves of £362,784 (2019: £362,784). |
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11. | RELATED PARTY DISCLOSURES |
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The ultimate controlling party of the company are the three directors N Pearson, J Botham and S McCrystal by |
virtue of their shareholdings. |
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During the year, the Company paid £9,863 (2019: £18,978) to Class Property Services for maintenance works |
and management services, a partnership, of which N Pearson and J Botham are partners. The balance outstanding |
at the year end was £Nil (2019: Nil). |
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During the year, the Company paid £Nil (2019: £8,309) to STS Property Services for maintenance |
works and management services, owned by S McCrystal. The balance outstanding at the year end |
was £Nil (2019: £Nil). |