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REGISTERED NUMBER: SC294521 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

JEFFREY STEVENSON ASSOCIATES LTD

JEFFREY STEVENSON ASSOCIATES LTD (REGISTERED NUMBER: SC294521)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


JEFFREY STEVENSON ASSOCIATES LTD

COMPANY INFORMATION
for the year ended 31 March 2023







DIRECTORS: J Stevenson
Ms P M Stevenson



SECRETARY: Ms P M Stevenson



REGISTERED OFFICE: 24A Ainslie Place
Edinburgh
EH3 6AJ



BUSINESS ADDRESS: Furze Garden
19A Frenze Road
Diss
Norfolk
IP22 4PA



REGISTERED NUMBER: SC294521 (Scotland)



ACCOUNTANTS: Mitchell Edwards
Chartered Certified Accountants
24A Ainslie Place
Edinburgh
EH3 6AJ



BANKERS: Bank of Scotland
206 St Johns Road
Edinburgh
EH12 8SH



SOLICITORS: Morton Fraser LLP
Solicitors
Quartermile Two
2 Lister Square
Edinburgh
EH3 9GL

JEFFREY STEVENSON ASSOCIATES LTD (REGISTERED NUMBER: SC294521)

BALANCE SHEET
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,498 1,793
Investment property 5 917,902 827,000
922,400 828,793

CURRENT ASSETS
Debtors 6 1,485 1,711
Cash at bank 60,707 153,704
62,192 155,415
CREDITORS
Amounts falling due within one year 7 43,440 19,489
NET CURRENT ASSETS 18,752 135,926
TOTAL ASSETS LESS CURRENT
LIABILITIES

941,152

964,719

PROVISIONS FOR LIABILITIES 15,036 32,287
NET ASSETS 926,116 932,432

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 110,629 192,166
Retained earnings 815,387 740,166
SHAREHOLDERS' FUNDS 926,116 932,432

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 7 July 2023 and were signed on its behalf by:





J Stevenson - Director


JEFFREY STEVENSON ASSOCIATES LTD (REGISTERED NUMBER: SC294521)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2023


1. STATUTORY INFORMATION

Jeffrey Stevenson Associates Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The financial statements are presented in sterling which is the functional currency of the company rounded to the nearest £.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

Turnover
Turnover represents the total of rent receivable and other income from the rental of property during the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Library - 20% on reducing balance
Fixtures & equipment - 20% on reducing balance

Investment property
The company carries investment property at fair value with changes in fair value being recognised in the Income Statement. Any such changes together with the related deferred tax are transferred to a Revaluation Reserve.

Financial instruments
Bank and other loans are shown at amortised cost, with interest and up front charges in connection with the loans being allocated to accounting periods by applying the effective interest rate method.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 2 (2022 - 2 ) .

JEFFREY STEVENSON ASSOCIATES LTD (REGISTERED NUMBER: SC294521)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Library & equipment Totals
£    £    £   
COST
At 1 April 2022 200 10,978 11,178
Additions - 4,137 4,137
Disposals - (992 ) (992 )
At 31 March 2023 200 14,123 14,323
DEPRECIATION
At 1 April 2022 195 9,190 9,385
Charge for year 1 1,122 1,123
Eliminated on disposal - (683 ) (683 )
At 31 March 2023 196 9,629 9,825
NET BOOK VALUE
At 31 March 2023 4 4,494 4,498
At 31 March 2022 5 1,788 1,793

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 827,000
Additions 376,955
Disposals (327,000 )
Revaluations 40,947
At 31 March 2023 917,902
NET BOOK VALUE
At 31 March 2023 917,902
At 31 March 2022 827,000

In the opinion of the directors, the current fair value of the company's investment property is £917,902 (2022: £827,000). The directors' opinion has been arrived at after reviewing transactions in the location and category of the investment property being valued.

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2015 (11,540 )
Valuation in 2017 32,832
Valuation in 2018 (2,500 )
Valuation in 2019 12,500
Valuation in 2020 25,000
Valuation in 2021 18,295
Valuation in 2022 10,000
Valuation in 2023 40,947
Cost 792,368
917,902

JEFFREY STEVENSON ASSOCIATES LTD (REGISTERED NUMBER: SC294521)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023


5. INVESTMENT PROPERTY - continued

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

2023 2022
£    £   
Cost 792,368 602,713

Investment properties were valued on a fair value basis on 31 March 2023 by the Directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 750 750
Other debtors 735 961
1,485 1,711

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 22,910 9,111
Other creditors 20,530 10,378
43,440 19,489