JOHN RADCLIFFE INVESTMENTS LIMITED
Report and Accounts
28 February 2023
Registered number
05058067
JOHN RADCLIFFE INVESTMENTS LIMITED
Registered number: 05058067
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,118,981 418,981
Investments 4 16,187 16,187
1,135,168 435,168
Current assets
Debtors 5 15,212 2,257
Cash at bank and in hand 349,532 350,986
364,744 353,243
Creditors: amounts falling due within one year 6 (340,074) (329,360)
Net current assets 24,670 23,883
Net assets 1,159,838 459,051
Capital and reserves
Called up share capital 100 100
Revaluation reserve 7 700,000 -
Profit and loss account 459,738 458,951
Shareholders' funds 1,159,838 459,051
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J S H Radcliffe
Director
Approved by the board on 19 September 2023
JOHN RADCLIFFE INVESTMENTS LIMITED
Notes to the Accounts
for the year ended 28 February 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 March 2022 418,981
Surplus on revaluation 700,000
At 28 February 2023 1,118,981
Depreciation
At 28 February 2023 -
Net book value
At 28 February 2023 1,118,981
At 28 February 2022 418,981
4 Investments
Other
investments
£
Cost
At 1 March 2022 16,187
At 28 February 2023 16,187
5 Debtors 2023 2022
£ £
Trade debtors 15,212 2,257
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 71,057 79,965
Trade creditors 150,835 137,723
Corporation tax 18 -
Other taxes and social security costs 1,667 1,175
Inter company loan 108,897 108,897
Other creditors 7,600 1,600
340,074 329,360
7 Revaluation reserve 2023 2022
£ £
Gain on revaluation of land and buildings 700,000 -
At 28 February 2023 700,000 -
8 Other information
JOHN RADCLIFFE INVESTMENTS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
QUEENS SQUARE
LEEDS ROAD
HUDDERSFIELD
WEST YORKSHIRE
HD2 1XN
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