Company Registration No. 07902916 (England and Wales)
GRAHAM JAY PROPERTIES LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2016
GRAHAM JAY PROPERTIES LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
GRAHAM JAY PROPERTIES LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 JANUARY 2016
31 January 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
903,554
887,199
Investments
2
280,000
280,000
1,183,554
1,167,199
Current assets
Debtors
61,619
5,537
Cash at bank and in hand
4,951
201,308
66,570
206,845
Creditors: amounts falling due within one year
(1,187,047)
(1,344,786)
Net current liabilities
(1,120,477)
(1,137,941)
Total assets less current liabilities
63,077
29,258
Capital and reserves
Called up share capital
3
2
2
Profit and loss account
63,075
29,256
Shareholders' funds
63,077
29,258
For the financial year ended 31 January 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 24 June 2016
Mr G J Meggitt
Director
Company Registration No. 07902916
GRAHAM JAY PROPERTIES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Turnover
Turnover represents amounts receivable for rental income net of VAT and trade discounts.
1.3
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 less estimated residual value of each asset over its expected useful life, as follows:
Computer equipment
33.3% Per annum on cost
1.4
Investments
Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the director compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
Unlisted investments are included at cost less any provision for impairment.
1.5
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
1.6
Investment income
Income from fixed asset investments are included in the accounts on a receipts basis.
GRAHAM JAY PROPERTIES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2016
- 3 -
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost / Valuation
At 1 February 2015
887,739
280,000
1,167,739
Additions
16,355
-
16,355
At 31 January 2016
904,094
280,000
1,184,094
Depreciation
At 1 February 2015 & at 31 January 2016
540
-
540
Net book value
At 31 January 2016
903,554
280,000
1,183,554
At 31 January 2015
887,199
280,000
1,167,199
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
2 Ordinary shares of £1 each
2
2