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Janet Lawrence Properties Ltd
Registered Number:04318952
For the year ended 31 March 2023
England and Wales
Unaudited Financial Statements
2
For the year ended 31 March 2023
Janet Lawrence Properties Ltd
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
04318952
As at 31 March 2023
Janet Lawrence Properties Ltd
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Property, plant and equipment
318,281
318,281
2
318,281
318,281
Current assets
Trade and other receivables
3,173
3,173
3
18,101
Cash and cash equivalents
4,177
7,350
21,274
Trade and other payables: amounts falling due within one
year
(141,402)
(115,003)
4
(120,128)
(107,653)
Net current liabilities
Total assets less current liabilities
210,628
198,153
Trade and other payables: amounts falling due after more
than one year
(850)
-
5
210,628
Net assets
197,303
Capital and reserves
Called up share capital
100
100
Retained earnings
210,528
197,203
210,628
197,303
Shareholders' funds
For the year ended 31 March 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
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 proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Ping Leung Pang Director
These financial statements were approved and authorised for issue by the Board on 26 September 2023 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 March 2023
Janet Lawrence Properties Ltd
Notes to the Financial Statements
Statutory Information
Janet Lawrence Properties Ltd is a private limited company, limited by shares, domiciled in England and Wales,
registration number 04318952.
Registered address:
19 Elmcroft Close
London
W5 2HQ
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover represents rents receivable.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
20 Straight line
No depreciation is provided on the company''s freehold properties since in the opinion of the directors the expected
useful lives are sufficiently long and the estimated residual values are sufficiently high that any such depreciation
would be immaterial. The directors undertake an annual impairment review of these properties.
Investment property
Investment properties are included in the balance sheet at their open market value at the balance sheet date. The resulting aggregate surplus or deficit is transferred to a revaluation reserve. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years. Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
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.
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5
For the year ended 31 March 2023
Janet Lawrence Properties Ltd
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Plant and
machinery
Land and
buildings
£
£
£
Cost or
valuation
At 01 April 2022
318,937
656
318,281
At 31 March 2023
318,281
656
318,937
Provision for depreciation and impairment
At 01 April 2022
656
656
-
At 31 March 2023
656
656
-
At 31 March 2023
Net book value
318,281
-
318,281
At 31 March 2022
318,281
-
318,281
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting
Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act
2006. The financial statements have been prepared under the historical costs convention as modified by the
revaluation of certain assets.
Going Concern
The ability of the company to continue to trade is dependent upon the continued support of the director and the
Covid-pandemic situation is improving steadily and the director is confident the company will trade out of the situation.
£48334 of the bank loan is guaranteed by the Government and the director has confirmed continued support of up to
£35,000 for a period of 12 months from the date of these financial statements. This support will be reviewed at that
time.
.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and
trade discounts.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any
provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets,
less their estimated residual value, over their expected useful lives on the following basis:
Computer equipment Fixtures and fittings
33% Straight line
25% Straight line
3. Trade and other receivables
2022
2023
£
£
Other debtors
3,173
3,173
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6
For the year ended 31 March 2023
Janet Lawrence Properties Ltd
Notes to the Financial Statements Continued
4. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Bank loans and overdraft (secured)
7,573
12,044
Taxation and social security
5,472
4,890
Other creditors
101,958
124,468
115,003
141,402
5. Trade and other payables: amounts falling due after more than one year
2022
2023
£
£
Bank loans and overdraft (secured)
-
850
Included in bank loans
6. Average number of persons employed
During the year the average number of employees was 0
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