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COMPANY REGISTRATION NUMBER: 03902706
ALISTAIR JONES RURAL & DEVELOPMENT LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 May 2023
ALISTAIR JONES RURAL & DEVELOPMENT LIMITED
FINANCIAL STATEMENTS
Year ended 31 May 2023
CONTENTS
PAGE
Balance sheet
1
Notes to the financial statements
2
ALISTAIR JONES RURAL & DEVELOPMENT LIMITED
BALANCE SHEET
31 May 2023
2023
2022
Note
£
£
FIXED ASSETS
Tangible assets
4
229,301
235,261
Investments
5
1
---------
---------
229,301
235,262
CURRENT ASSETS
Stocks
44,095
40,068
Debtors
6
345
300
Cash at bank and in hand
516,696
510,984
---------
---------
561,136
551,352
CREDITORS: amounts falling due within one year
7
( 38,939)
( 42,090)
---------
---------
NET CURRENT ASSETS
522,197
509,262
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
751,498
744,524
---------
---------
NET ASSETS
751,498
744,524
---------
---------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
751,398
744,424
---------
---------
SHAREHOLDERS FUNDS
751,498
744,524
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 5 February 2024 , and are signed on behalf of the board by:
Mr J A Jones
Director
Company registration number: 03902706
ALISTAIR JONES RURAL & DEVELOPMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
Year ended 31 May 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Hollies, Candwr Road, Ponthir, Newport, South Wales, NP18 1HU.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
The turnover shown in the profit and loss account is derived from ordinary activities and represents the value of fees receivable in the financial period, exclusive of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold property
-
10% on cost
Plant & machinery
-
10-25% on cost
Fixtures & fittings
-
20% on cost
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. TANGIBLE ASSETS
Investment property
Leasehold property
Plant & machinery
Fixtures & fittings
Total
£
£
£
£
£
Cost
At 1 June 2022 and 31 May 2023
213,600
63,148
1,708
1,358
279,814
---------
--------
-------
-------
---------
Depreciation
At 1 June 2022
41,487
1,708
1,358
44,553
Charge for the year
5,960
5,960
---------
--------
-------
-------
---------
At 31 May 2023
47,447
1,708
1,358
50,513
---------
--------
-------
-------
---------
Carrying amount
At 31 May 2023
213,600
15,701
229,301
---------
--------
-------
-------
---------
At 31 May 2022
213,600
21,661
235,261
---------
--------
-------
-------
---------
Property that is held for long-term rental yields or for capital appreciation is classified as investment property. Investment property is measured initially at cost, including related transaction costs and where applicable borrowing costs. After initial recognition, investment property is carried at fair value. Fair value is based on active market prices, adjusted, if necessary for differences in nature, location or condition of the specific asset. If this information is not available, the company uses alternative valuation methods, such as recent prices on less active markets. Valuations are performed as at the balance sheet date by the directors, who have recent experience in the location and category of the investment property being valued.
The directors consider that the open market value of the properties at 31 May 2023 is not materially different from cost and therefore no revaluation is required.
Tangible assets held at valuation
In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:
Investment property
£
At 31 May 2023
Aggregate cost
213,600
Aggregate depreciation
---------
Carrying value
213,600
---------
At 31 May 2022
Aggregate cost
213,600
Aggregate depreciation
---------
Carrying value
213,600
---------
5. INVESTMENTS
Other investments other than loans
£
Cost
At 1 June 2022
1
Disposals
( 1)
----
At 31 May 2023
----
Impairment
At 1 June 2022 and 31 May 2023
----
Carrying amount
At 31 May 2023
----
At 31 May 2022
1
----
The company disposed of 33.33% of the issued share capital of Ennismore Residential Limited, a company registered in England & Wales.
6. DEBTORS
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
345
300
----
----
7. CREDITORS: amounts falling due within one year
2023
2022
£
£
Corporation tax
3,122
2,225
Other creditors
35,817
39,865
--------
--------
38,939
42,090
--------
--------
8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
Included in other creditors due within one year is an amount of £32,930 (2022 - £35,639) due to the director.