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COMPANY REGISTRATION NUMBER: 03805292
John Grants (Estate Agents) Limited
Filleted Unaudited Financial Statements
30 June 2023
John Grants (Estate Agents) Limited
Statement of Financial Position
30 June 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
200
200
Current assets
Debtors
6
1,079
7,223
Cash at bank and in hand
2,122
7,904
-------
--------
3,201
15,127
Creditors: amounts falling due within one year
7
15,184
15,184
--------
--------
Net current liabilities
11,983
57
--------
----
Total assets less current liabilities
( 11,783)
143
Creditors: amounts falling due after more than one year
8
43,129
48,798
--------
--------
Net liabilities
( 54,912)
( 48,655)
--------
--------
Capital and reserves
Called up share capital
2
2
Profit and loss account
( 54,914)
( 48,657)
--------
--------
Shareholders deficit
( 54,912)
( 48,655)
--------
--------
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 statement of income and retained earnings has not been delivered.
For the 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.
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 .
John Grants (Estate Agents) Limited
Statement of Financial Position (continued)
30 June 2023
These financial statements were approved by the board of directors and authorised for issue on 18 February 2024 , and are signed on behalf of the board by:
Mr MN Mustafa
Director
Company registration number: 03805292
John Grants (Estate Agents) Limited
Notes to the Financial Statements
Year ended 30 June 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 32-34 Station Close, Potters Bar, Herts, EN6 1TL.
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 measured at fair value through profit or loss.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
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:
Fixtures and Fittings
-
25% reducing balance
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.
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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2022: 9 ).
5. Tangible assets
Land and buildings
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 July 2022 and 30 June 2023
17,367
20,793
9,111
47,271
--------
--------
-------
--------
Depreciation
At 1 July 2022 and 30 June 2023
17,367
20,667
9,037
47,071
--------
--------
-------
--------
Carrying amount
At 30 June 2023
126
74
200
--------
--------
-------
--------
At 30 June 2022
126
74
200
--------
--------
-------
--------
6. Debtors
2023
2022
£
£
Trade debtors
255
188
Other debtors
824
7,035
-------
-------
1,079
7,223
-------
-------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
15,184
15,184
--------
--------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
18,129
23,798
Amounts owed to group undertakings and undertakings in which the company has a participating interest
25,000
25,000
--------
--------
43,129
48,798
--------
--------
9. Controlling party
The company is under the control of Mr M Mustafa and Mr S Mustafa.