Company No:
Contents
Note | 2023 | 2022 | ||
£ | £ | |||
Fixed assets | ||||
Investment property | 4 |
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900,000 | 880,000 | |||
Current assets | ||||
Debtors | 5 |
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Cash at bank and in hand |
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86,308 | 26,504 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current liabilities | (61,046) | (167,496) | ||
Total assets less current liabilities | 838,954 | 712,504 | ||
Creditors: amounts falling due after more than one year | 7 | (
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Provision for liabilities |
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Net assets |
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Capital and reserves | ||||
Called-up share capital |
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Fair value reserve |
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Profit and loss account |
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Total shareholder's funds |
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Director's responsibilities:
The financial statements of Janbar Limited (registered number:
P C Cleland
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.
Janbar 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 Goodwood House, Blackbrook Park Avenue, Taunton, TA1 2PX, 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 £.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.
Plant and machinery etc. |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
The fair value is determined annually by the director, on an open market value for existing use basis.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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Plant and machinery etc. | Total | ||
£ | £ | ||
Cost | |||
At 01 January 2023 |
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At 31 December 2023 |
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Accumulated depreciation | |||
At 01 January 2023 |
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At 31 December 2023 |
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Net book value | |||
At 31 December 2023 |
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At 31 December 2022 |
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Investment property | |
£ | |
Valuation | |
As at 01 January 2023 |
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Fair value movement | 20,000 |
As at 31 December 2023 |
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Valuation
The value of investment property is derived from observable current market prices for comparable real estate determined by the director. The assets have a current value of £900,000 (2022 - £880,000).
Historic cost
If the investment property had been accounted for under the cost accounting rules, the property would have been measured as follows:
2023 | 2022 | ||
£ | £ | ||
Historic cost | 536,802 | 536,802 |
2023 | 2022 | ||
£ | £ | ||
Amounts owed by Parent undertakings |
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Other debtors |
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2023 | 2022 | ||
£ | £ | ||
Bank loans (secured) |
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Taxation and social security |
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Other creditors |
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2023 | 2022 | ||
£ | £ | ||
Bank loans (secured) |
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Amounts repayable after more than 5 years are included in creditors falling due over one year:
2023 | 2022 | ||
£ | £ | ||
Bank loans (secured / repayable by instalments) |
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Parent Company:
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Goodwood House, Blackbrook Park Avenue, Taunton, TA1 2PX |