Registered number
00720654
L P Jones Motor Body Repairs Limited
Filleted Accounts
30 September 2023
L P Jones Motor Body Repairs Limited
Registered number: 00720654
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,500,477 1,500,000
Current assets
Cash at bank and in hand 15,541 4,694
Creditors: amounts falling due within one year 4 (21,024) (18,572)
Net current liabilities (5,483) (13,878)
Total assets less current liabilities 1,494,994 1,486,122
Provisions for liabilities (39,130) (29,739)
Net assets 1,455,864 1,456,383
Capital and reserves
Called up share capital 100 100
Fair value reserve 5 1,416,913 1,426,304
Profit and loss account 38,851 29,979
Shareholder's funds 1,455,864 1,456,383
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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.
Ann Jones
Director
Approved by the board on 19 January 2024
L P Jones Motor Body Repairs Limited
Notes to the Accounts
for the year ended 30 September 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 represents rent and insurance charges receivable on investment property.
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 investment property, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office equipment 33.33% straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
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 0 0
3 Tangible fixed assets
Investment property Office equipment Total
£ £ £
Cost
At 1 October 2022 1,500,000 400 1,500,400
Additions - 537 537
Disposals - (400) (400)
At 30 September 2023 1,500,000 537 1,500,537
Depreciation
At 1 October 2022 - 400 400
Charge for the year - 60 60
On disposals - (400) (400)
At 30 September 2023 - 60 60
Net book value
At 30 September 2023 1,500,000 477 1,500,477
At 30 September 2022 1,500,000 - 1,500,000
The investment properties were valued on an open market basis by the director.
4 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 18,405 15,819
Other creditors 2,619 2,753
21,024 18,572
5 Fair value reserve 2023 2022
£ £
At 1 October 2022 1,426,304 1,426,304
Deferred taxation arising on the revaluation of land and buildings (9,391) -
At 30 September 2023 1,416,913 1,426,304
6 Other information
L P Jones Motor Body Repairs Limited is a private company limited by shares and incorporated in England. Its registered office is:
Wild Pines, Hillfield
Brooklands Lane
Weybridge
Surrey
KT13 8UX
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