SJ Falk Ltd 09655308 false 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is reporting on medical cases for legal purposes and also the rental of properties. Digita Accounts Production Advanced 6.30.9574.0 true true 09655308 2022-07-01 2023-06-30 09655308 2023-06-30 09655308 bus:Original 2023-06-30 09655308 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss core:Non-currentFinancialInstruments 2023-06-30 09655308 core:CurrentFinancialInstruments 2023-06-30 09655308 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 09655308 core:Goodwill 2023-06-30 09655308 core:OfficeEquipment 2023-06-30 09655308 1 2023-06-30 09655308 bus:SmallEntities 2022-07-01 2023-06-30 09655308 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 09655308 bus:FullAccounts 2022-07-01 2023-06-30 09655308 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 09655308 bus:RegisteredOffice 2022-07-01 2023-06-30 09655308 bus:Director1 2022-07-01 2023-06-30 09655308 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 09655308 core:Goodwill 2022-07-01 2023-06-30 09655308 core:OfficeEquipment 2022-07-01 2023-06-30 09655308 countries:EnglandWales 2022-07-01 2023-06-30 09655308 1 2022-07-01 2023-06-30 09655308 2022-06-30 09655308 core:Goodwill 2022-06-30 09655308 core:OfficeEquipment 2022-06-30 09655308 1 2022-06-30 09655308 2021-07-01 2022-06-30 09655308 2022-06-30 09655308 core:CurrentFinancialInstruments 2022-06-30 09655308 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 09655308 core:OfficeEquipment 2022-06-30 09655308 1 2022-06-30 09655308 1 2021-07-01 2022-06-30 09655308 1 2021-06-30 iso4217:GBP xbrli:pure

Registration number: 09655308

SJ Falk Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2023

 

SJ Falk Ltd

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 9

 

SJ Falk Ltd

(Registration number: 09655308)
Statement of Financial Position as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

-

278

Investment property

6

835,000

695,000

Other financial assets

7

170,928

112,968

 

1,005,928

808,246

Current assets

 

Debtors

8

153,940

155,036

Cash at bank and in hand

 

788,304

650,707

 

942,244

805,743

Creditors: Amounts falling due within one year

9

(150,749)

(139,880)

Net current assets

 

791,495

665,863

Net assets

 

1,797,423

1,474,109

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

1,797,422

1,474,108

Shareholders' funds

 

1,797,423

1,474,109

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the director on 27 February 2024
 


Dr S Falk
Director

 

SJ Falk Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
30 Church Lane
Backwell
Bristol
BS48 3PQ

Principal activity

The principal activity of the company is reporting on medical cases for legal purposes and also the rental of properties.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

 

SJ Falk Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipment

33% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

 

SJ Falk Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023 (continued)

2

Accounting policies (continued)

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 

SJ Falk Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023 (continued)

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

SJ Falk Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023 (continued)

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 July 2022

10,000

10,000

At 30 June 2023

10,000

10,000

Amortisation

At 1 July 2022

10,000

10,000

At 30 June 2023

10,000

10,000

Carrying amount

At 30 June 2023

-

-

5

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 July 2022

3,294

3,294

At 30 June 2023

3,294

3,294

Depreciation

At 1 July 2022

3,016

3,016

Charge for the year

278

278

At 30 June 2023

3,294

3,294

Carrying amount

At 30 June 2023

-

-

At 30 June 2022

278

278

6

Investment properties

2023
£

At 1 July

695,000

Additions

155,200

Fair value adjustments

(15,200)

At 30 June

835,000

 

SJ Falk Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023 (continued)

6

Investment properties (continued)

There has been no valuation of investment property by an independent valuer.

 

SJ Falk Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023 (continued)

7

Investments

Other investments other than loans
£

Total
£

Cost or valuation

At 1 July 2022

112,968

112,968

Fair value adjustments

(1,708)

(1,708)

Additions

77,798

77,798

Disposals

(18,130)

(18,130)

At 30 June 2023

170,928

170,928

Impairment

Carrying amount

At 30 June 2023

170,928

170,928

8

Debtors

2023
£

2022
£

Trade debtors

150,224

152,369

Prepayments

2,667

2,667

Accrued income

1,049

-

153,940

155,036

 

SJ Falk Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023 (continued)

9

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

131,115

37,313

Accruals and deferred income

2,165

-

Other creditors

17,469

102,567

150,749

139,880

10

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

11

Related party transactions

Transactions with the director

2023

At 1 July 2022
£

Advances to director
£

At 30 June 2023
£

Directors' loans

(15,246)

(312)

(15,558)

       
     

 

2022

At 1 July 2021
£

Advances to director
£

At 30 June 2022
£

Directors' loans

(14,934)

(312)

(15,246)