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Financial Statements |
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for the Year Ended 31 March 2019 |
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for |
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J. Davidson (Properties) Limited |
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REGISTERED NUMBER:
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Financial Statements |
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for the Year Ended 31 March 2019 |
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for |
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J. Davidson (Properties) Limited |
J. Davidson (Properties) Limited (Registered number: 07781166) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2019 |
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Page |
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Balance Sheet | 1 |
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Notes to the Financial Statements | 2 |
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J. Davidson (Properties) Limited (Registered number: 07781166) |
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Balance Sheet |
31 March 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
( |
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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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Retained earnings |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the director on
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J. Davidson (Properties) Limited (Registered number: 07781166) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2019 |
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1. | STATUTORY INFORMATION |
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J. Davidson (Properties) Limited is a
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company's registered number and registered office address are as below: |
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Registered number: | 07781166 |
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Registered office: | 35 Craven Road |
Broadheath |
Altrincham |
Cheshire |
WA14 5HD |
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The financial statements are presented in Sterling, which is the functional currency of the company. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The principal accounting policies adopted in the preparation of the financial statements are set out below and |
have remained unchanged from the previous year, and have been consistently applied within these accounts. |
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Tangible fixed assets and depreciation |
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write |
off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following |
bases: |
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Freehold property - 2% reducing balance |
Fixtures and fittings - 15% reducing balance |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, |
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 balance sheet date. |
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Deferred taxation |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet 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. |
J. Davidson (Properties) Limited (Registered number: 07781166) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2019 |
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2. | ACCOUNTING POLICIES - continued |
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Other income |
Other income comprises revenue recognised by the company in respect of rent received during the period, |
exclusive of value added tax. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and |
property | fittings | Totals |
£ | £ | £ |
COST |
At 1 April 2018 |
and 31 March 2019 |
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DEPRECIATION |
At 1 April 2018 |
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Charge for year |
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At 31 March 2019 |
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NET BOOK VALUE |
At 31 March 2019 |
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At 31 March 2018 |
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Included in cost of land and buildings is freehold land of £ 1,255,200 (2018 - £ 1,255,200 ) which is not |
depreciated. |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Bank loans and overdrafts |
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Amounts owed to group undertakings |
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Taxation and social security |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2019 | 2018 |
£ | £ |
Bank loans |
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J. Davidson (Properties) Limited (Registered number: 07781166) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2019 |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
2019 | 2018 |
£ | £ |
Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans | 127,066 | 488,308 |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2019 | 2018 |
£ | £ |
Bank overdrafts |
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Bank loans |
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Bank loans are secured by first legal charge over the freehold of 35 Craven Road, Altrincham and its associated |
assets, and first legal charge over the freehold of Jarvis House, Atlantic Street, Altrincham and its associated |
assets. |
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9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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10. | RELATED PARTY DISCLOSURES |
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The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
transactions with wholly owned subsidiaries within the group. |
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11. | FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES |
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In common with many other businesses of our size and nature we use our auditors to assist with the |
preparation of the financial statements. |