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REGISTERED NUMBER: 02341779 (England and Wales)















JOUSTFORD LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023






JOUSTFORD LIMITED (REGISTERED NUMBER: 02341779)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JOUSTFORD LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: R W Dangerfield
A Dangerfield
Mrs D Dangerfield
A Dangerfield





SECRETARY: Mrs D Dangerfield





REGISTERED OFFICE: Moreton Farm
Bishton Lane
Wolseley Bridge
Stafford
Staffordshire
ST18 0XD





REGISTERED NUMBER: 02341779 (England and Wales)

JOUSTFORD LIMITED (REGISTERED NUMBER: 02341779)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 2,232 2,382
Investment property 5 1,520,000 1,370,000
1,522,232 1,372,382

CURRENT ASSETS
Debtors 6 10,167 16,075
Cash at bank 55,126 63,816
65,293 79,891
CREDITORS
Amounts falling due within one year 7 (85,533 ) (140,969 )
NET CURRENT LIABILITIES (20,240 ) (61,078 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,501,992 1,311,304

PROVISIONS FOR LIABILITIES (161,183 ) (134,591 )
NET ASSETS 1,340,809 1,176,713

CAPITAL AND RESERVES
Called up share capital 8 200,000 200,000
Revaluation reserve 512,783 389,375
Retained earnings 628,026 587,338
SHAREHOLDERS' FUNDS 1,340,809 1,176,713

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

JOUSTFORD LIMITED (REGISTERED NUMBER: 02341779)

BALANCE SHEET - continued
31 JULY 2023


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 Profit and Loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 April 2024 and were signed on its behalf by:





A Dangerfield - Director


JOUSTFORD LIMITED (REGISTERED NUMBER: 02341779)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023


1. STATUTORY INFORMATION

Joustford Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Rental income
Rental income from operating leases net of any incentives given to the lessees is recognised on a straight-line basis over the lease term.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss account, 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.


JOUSTFORD LIMITED (REGISTERED NUMBER: 02341779)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


2. ACCOUNTING POLICIES - continued
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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 August 2022 4,341 19,445 23,786
Additions 600 - 600
At 31 July 2023 4,941 19,445 24,386
DEPRECIATION
At 1 August 2022 3,905 17,499 21,404
Charge for year 263 487 750
At 31 July 2023 4,168 17,986 22,154
NET BOOK VALUE
At 31 July 2023 773 1,459 2,232
At 31 July 2022 436 1,946 2,382

JOUSTFORD LIMITED (REGISTERED NUMBER: 02341779)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2022 1,370,000
Revaluations 150,000
At 31 July 2023 1,520,000
NET BOOK VALUE
At 31 July 2023 1,520,000
At 31 July 2022 1,370,000

Fair value at 31 July 2023 is represented by:
£   
Valuation in 2017 271,784
Valuation in 2018 212,182
Valuation in 2022 40,000
Valuation in 2023 150,000
Cost 846,034
1,520,000

The directors are of the opinion that the fair value of the investment property as at 31 July 2023 accords to the value shown on the balance sheet, being £1,520,000. The value is based on cost.

The historical cost of the investment property as at 31 July 2023 was £846,034.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 8,578 14,430
Prepayments 1,589 1,645
10,167 16,075

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 225 24,442
Tax 20,595 13,323
VAT 1,466 558
Directors' current accounts 59,978 99,478
Accruals and deferred income 3,269 3,168
85,533 140,969

JOUSTFORD LIMITED (REGISTERED NUMBER: 02341779)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
200,000 Ordinary £1 200,000 200,000