Company Registration No. 07980906 (England and Wales)
James Andrew Residential Limited
Unaudited financial statements
For the year ended 30 September 2021
Pages for filing with registrar
JAMES ANDREW RESIDENTIAL LIMITED
James Andrew Residential Limited
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
JAMES ANDREW RESIDENTIAL LIMITED
James Andrew Residential Limited
BALANCE SHEET
AS AT
30 SEPTEMBER 2021
30 September 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
3
72,225
26,052
Investments
4
10
10
72,235
26,062
Current assets
Debtors
5
709,121
505,976
Cash at bank and in hand
398,969
234,583
1,108,090
740,559
Creditors: amounts falling due within one year
6
(868,018)
(636,083)
Net current assets
240,072
104,476
Total assets less current liabilities
312,307
130,538
Creditors: amounts falling due after more than one year
7
(42,500)
Provisions for liabilities
(4,326)
Net assets
265,481
130,538
Capital and reserves
Called up share capital
8
12,000
12,000
Profit and loss reserves
253,481
118,538
Total equity
265,481
130,538
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 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.
JAMES ANDREW RESIDENTIAL LIMITED
James Andrew Residential Limited
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2021
30 September 2021
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 3 May 2022 and are signed on its behalf by:
F F Docherty
Director
Company Registration No. 07980906
JAMES ANDREW RESIDENTIAL LIMITED
James Andrew Residential Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021
- 3 -
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:
Leasehold improvements
Over length of lease (22 months)
Fixtures, fittings & equipment
25% straight line
1.4
Cash and cash equivalents
Cash and cash equivalents
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
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
JAMES ANDREW RESIDENTIAL LIMITED
James Andrew Residential Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2021
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from
fellow group companies and preference shares that are classified as debt, are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax
, adjusted for over or under provision in the prior year.
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.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
1.7
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.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.9
Leases
Rentals payable under operating leases,
including
any lease incentives received, are charged to
profit or loss
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
s
asset are consumed.
1.10
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met
. Where a
grant does not specify performance conditions
it
is recognised in income when the proceeds are received or receivable
. A grant received before the recognition criteria are satisfied is recognised as a liability.
JAMES ANDREW RESIDENTIAL LIMITED
James Andrew Residential Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2021
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
103
82
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 October 2020
75,831
75,831
Additions
60,309
18,415
78,724
At 30 September 2021
60,309
94,246
154,555
Depreciation and impairment
At 1 October 2020
49,779
49,779
Depreciation charged in the year
19,189
13,362
32,551
At 30 September 2021
19,189
63,141
82,330
Carrying amount
At 30 September 2021
41,120
31,105
72,225
At 30 September 2020
26,052
26,052
4
Fixed asset investments
2021
2020
£
£
Investments
10
10
JAMES ANDREW RESIDENTIAL LIMITED
James Andrew Residential Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2021
- 6 -
5
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
365,754
384,944
Amounts owed by group undertakings
7,386
428
Other debtors
335,981
120,604
709,121
505,976
Included in Debtors are non-current amounts due to the company totalling £35,071 (2020: £Nil).
6
Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
143,080
93,366
Corporation tax
35,991
10,069
Other taxation and social security
446,528
430,972
Bank loans
7,500
Other creditors
234,919
101,676
868,018
636,083
7
Creditors: amounts falling due after more than one year
2021
2020
£
£
Bank loans
42,500
8
Called up share capital
2021
2020
£
£
Ordinary share capital
Issued and fully paid
12,000 Ordinary shares of £1 each
12,000
12,000
JAMES ANDREW RESIDENTIAL LIMITED
James Andrew Residential Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2021
- 7 -
9
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2021
2020
£
£
41,250
10
Related party transactions
Transactions with related parties
Included in trade creditors are amounts of £
19,169
(20
20
: £
11
,5
93
)
owed to James Andrew Robinson Somerston Warner Limited and
£
Nil
to James Andrew International Limited (20
20
: £
7,200).
During the year, management charges of £
30,558
(20
20
: £
53,340
) were payable to James Andrew Robinson
Somerston Warner Limited.
Included in debtors is an amount of £50,000 (2020: £Nil) due from James Andrew International Limited.
The above companies are related parties as they are under common directorships and, or, common ownership with regard to some of the directors of the company.
The company has taken advantage of the exemption available in accordance with FRS 102 Section 33 'Related party disclosures' not to disclose transactions between two or more members of a group, as the company is a wholly owned subsidiary undertaking of the group to which it is party to the transactions.