J T Scott & Sons (Brondesbury) Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 00251151 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

J T SCOTT & SONS (BRONDESBURY) LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

D J Kearney

R W Kearney

SECRETARY:

D J Kearney

REGISTERED OFFICE:

Sandall House

230 High Street

Herne Bay

Kent

CT6 5AX

REGISTERED NUMBER:

00251151 (England and Wales)

ACCOUNTANTS:

H & E Johnson

Chartered Accountants

Sandall House

230 High Street

Herne Bay

Kent

CT6 5AX

FIXED ASSETS

Tangible assets

4

43

57

Investment property

5

125,000

246,000

125,043

246,057

CURRENT ASSETS

Debtors

6

-

1,265

Cash at bank

47,038

14,623

47,038

15,888

CREDITORS

Amounts falling due within one year

7

9,804

23,145

NET CURRENT ASSETS/(LIABILITIES)

37,234

(7,257

)

TOTAL ASSETS LESS CURRENT LIABILITIES

162,277

238,800

PROVISIONS FOR LIABILITIES

8

5,131

6,800

NET ASSETS

157,146

232,000

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Fair value reserve

9

87,985

111,244

Retained earnings

68,161

119,756

SHAREHOLDERS' FUNDS

157,146

232,000

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 November 2023 and were signed on its behalf by:

D J Kearney - Director

R W Kearney - Director

1.	STATUTORY INFORMATION

J T Scott & Sons (Brondesbury) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The company's usual place of business is 14 Worcester Close, Great Lumley, Chester-le-Street, DH3 4QQ.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents rents receivable.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

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.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2022

and 31 March 2023

5,470

DEPRECIATION

At 1 April 2022

5,413

Charge for year

14

At 31 March 2023

5,427

NET BOOK VALUE

At 31 March 2023

43

At 31 March 2022

57

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2022

246,000

Disposals

(121,000

)

At 31 March 2023

125,000

NET BOOK VALUE

At 31 March 2023

125,000

At 31 March 2022

246,000

Fair value at 31 March 2023 is represented by:

£

Valuation in 2017

126,868

Valuation in 2018

(6,000

)

Valuation in 2019

(3,000

)

Valuation in 2021

(21,000

)

Valuation in 2022

1,000

Valuation in 2023

(9,883

)

Cost

37,015

125,000

If investment property had not been revalued it would have been included at the following historical cost:

2023

2022

£

£

Cost

37,015

148,132

Investment property was valued on an open market basis on 31 March 2023 by the directors. .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

-

1,265

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Taxation and social security

218

1,421

Other creditors

9,586

21,724

9,804

23,145

8.	PROVISIONS FOR LIABILITIES

2023

2022

£

£

Deferred tax

5,131

6,800

Deferred

tax

£

Balance at 1 April 2022

6,800

Revaluation adjustments

(1,669

)

Balance at 31 March 2023

5,131

9.

RESERVES

Fair

value

reserve

£

At 1 April 2022

111,244

Reserve transfer

(23,259

)

At 31 March 2023

87,985