Company No:
Contents
DIRECTORS | R Thomas |
A Thomas |
SECRETARY | S Banks |
REGISTERED OFFICE | 42 Station Road |
Par | |
PL24 2LZ | |
United Kingdom |
COMPANY NUMBER | 11566990 (England and Wales) |
CHARTERED ACCOUNTANTS | Francis Clark LLP |
Lowin House | |
Tregolls Road | |
Truro | |
Cornwall TR1 2NA |
Note | 2023 | 2022 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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3,973,633 | 4,041,940 | |||
Current assets | ||||
Debtors | 4 |
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Cash at bank and in hand |
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51,958 | 835,925 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current liabilities | (3,223,625) | (3,531,669) | ||
Total assets less current liabilities | 750,008 | 510,271 | ||
Net assets |
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Capital and reserves | ||||
Called-up share capital | 6 |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Julian & Sons (Property) Limited (registered number:
A Thomas
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Julian & Sons (Property) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 42 Station Road, Par, PL24 2LZ, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
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 cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Julian & sons (Property) Limited has chosen to treat investment properties as property, plant and equipment as rented to group company.
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives. The Building element of Land and Buildings is depreciated as below but the land element is not depreciated:
Land and buildings |
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Leasehold improvements | depreciated over the life of the lease |
The Company as lessor
Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.
The company holds the following financial instruments:
•Short term trade and other debtors and creditors; and
•Cash and bank balances.
All financial instruments are classified as basic.
The company has chosen to apply the recognition and measurement principles in FRS102.
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Land and buildings | Leasehold improve- ments |
Total | |||
£ | £ | £ | |||
Cost | |||||
At 01 October 2022 |
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Additions |
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At 30 September 2023 |
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Accumulated depreciation | |||||
At 01 October 2022 |
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Charge for the financial year |
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At 30 September 2023 |
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Net book value | |||||
At 30 September 2023 |
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At 30 September 2022 |
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2023 | 2022 | ||
£ | £ | ||
Amounts owed by Group undertakings |
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Other debtors |
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2023 | 2022 | ||
£ | £ | ||
Amounts owed to Group undertakings |
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Taxation and social security |
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Other creditors |
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2023 | 2022 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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Parent Company:
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42 Station Road, Par, Cornwall, United Kingdom, PL24 2LZ |