Company Registration No. 07980906 (England and Wales)
James Andrew Residential Limited
Annual report and unaudited financial statements
For the year ended 30 September 2018
Pages for filing with registrar
JAMES ANDREW RESIDENTIAL LIMITED
James Andrew Residential Limited
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
JAMES ANDREW RESIDENTIAL LIMITED
James Andrew Residential Limited
BALANCE SHEET
AS AT 30 SEPTEMBER 2018
30 September 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Tangible assets
3
21,338
26,682
Current assets
Debtors
4
302,488
223,840
Cash at bank and in hand
84,123
46,789
386,611
270,629
Creditors: amounts falling due within one year
5
(350,097)
(256,742)
Net current assets
36,514
13,887
Total assets less current liabilities
57,852
40,569
Capital and reserves
Called up share capital
6
12,000
12,000
Profit and loss reserves
45,852
28,569
Total equity
57,852
40,569
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 2018 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 10 May 2019 and are signed on its behalf by:
J H Grey
F F Docherty
Director
Director
Company Registration No. 07980906
JAMES ANDREW RESIDENTIAL LIMITED
James Andrew Residential Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2018
- 2 -
1
Accounting policies
Company information
James Andrew Residential Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Fairchild House, Redbourne Avenue, London, N3 2BP.
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
represents amounts receivable for services net of VAT.
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:
Fixtures, fittings & equipment
25% straight line
1.4
Cash and cash equivalents
Cash at bank and in hand
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
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.
JAMES ANDREW RESIDENTIAL LIMITED
James Andrew Residential Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2018
1
Accounting policies
(Continued)
- 3 -
1.6
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.8
Leases
Rentals payable under operating leases,
including
any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 50 (2017 - 40).
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2017
43,367
Additions
5,066
At 30 September 2018
48,433
Depreciation and impairment
At 1 October 2017
16,685
Depreciation charged in the year
10,410
At 30 September 2018
27,095
Carrying amount
At 30 September 2018
21,338
At 30 September 2017
26,682
JAMES ANDREW RESIDENTIAL LIMITED
James Andrew Residential Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2018
- 4 -
4
Debtors
2018
2017
Amounts falling due within one year:
£
£
Trade debtors
226,650
164,350
Other debtors
75,838
59,490
302,488
223,840
5
Creditors: amounts falling due within one year
2018
2017
£
£
Trade creditors
63,826
43,788
Corporation tax
8,505
4,869
Other taxation and social security
221,013
165,071
Other creditors
56,753
43,014
350,097
256,742
6
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
12,000 Ordinary shares of £1 each
12,000
12,000
12,000
12,000
7
Related party transactions
Transactions with related parties
During the year, management charges of £57,900 (2017: £40,068) were payable to James Andrew Robinson Somerston Warner Limited.
One of the directors of the company, is also a director and has a significant interest in James Andrew Robinson Somerston Warner Limited.