Company Registration No. 08994823 (England and Wales)
JF JOINERY PROPERTY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2018
PAGES FOR FILING WITH REGISTRAR
JF JOINERY PROPERTY LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
JF JOINERY PROPERTY LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF JF JOINERY PROPERTY LIMITED FOR THE YEAR ENDED 31 JULY 2018
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of JF Joinery Property Limited for the year ended 31 July 2018 which comprise, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

 

This report is made solely to the Board of Directors of JF Joinery Property Limited, as a body, in accordance with the terms of our engagement letter dated 23 October 2018. Our work has been undertaken solely to prepare for your approval the financial statements of JF Joinery Property Limited and state those matters that we have agreed to state to the Board of Directors of JF Joinery Property Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than JF Joinery Property Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that JF Joinery Property Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of JF Joinery Property Limited. You consider that JF Joinery Property Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of JF Joinery Property Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Baldwins
5 November 2018
Accountants
Lime Court
Pathfields Business Park
South Molton
Devon
EX36 3LH
JF JOINERY PROPERTY LIMITED
BALANCE SHEET
AS AT
31 JULY 2018
31 July 2018
- 2 -
2018
Notes
£
£
Fixed assets
Tangible assets
2
8,010
Current assets
Debtors
3
61,990
Cash at bank and in hand
16
62,006
Creditors: amounts falling due within one year
4
(60,400)
Net current assets
1,606
Total assets less current liabilities
9,616
Capital and reserves
Called up share capital
5
200
Profit and loss reserves
9,416
Total equity
9,616

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 July 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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 and signed by the director and authorised for issue on 5 November 2018
Mr J R Fanthorpe
Director
Company Registration No. 08994823
JF JOINERY PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2018
- 3 -
1
Accounting policies
Company information

JF Joinery Property Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3 Old House Barns, North Molton, South Molton, Devon, England, EX36 3HG.

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 amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
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:

Freehold land and buildings
Not depreciated

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.3
Cash at bank and in hand

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.

1.4
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.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price. Financial assets classified as receivable within one year are not amortised.

JF JOINERY PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2018
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. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

2
Tangible fixed assets
Land and buildings
£
Cost
At 1 May 2017
-
Additions
8,010
At 31 July 2018
8,010
Depreciation and impairment
At 1 May 2017 and 31 July 2018
-
Carrying amount
At 31 July 2018
8,010
3
Debtors
2018
Amounts falling due within one year:
£
Amounts owed by group undertakings
61,990
4
Creditors: amounts falling due within one year
2018
£
Other creditors
60,400
JF JOINERY PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2018
- 5 -
5
Called up share capital
2018
£
Ordinary share capital
Issued and fully paid
140 Ordinary A of £1 each
140
60 Ordinary B of £1 each
60
200
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