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REGISTERED NUMBER: 06471742 (England and Wales)

















Jonathan Richards Properties Limited

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024






Jonathan Richards Properties Limited (Registered number: 06471742)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Jonathan Richards Properties Limited

COMPANY INFORMATION
for the Year Ended 31 January 2024







DIRECTOR: A Saxton





SECRETARY: M A Saxton





REGISTERED OFFICE: 9 Market Place
Hedon
East Yorkshire
HU12 8JA





REGISTERED NUMBER: 06471742 (England and Wales)





ACCOUNTANTS: Southgates
Chartered Certified Accountants
9 Market Place
Hedon
East Yorkshire
HU12 8JA

Jonathan Richards Properties Limited (Registered number: 06471742)

BALANCE SHEET
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 35,082 12,649
Investment property 5 705,000 670,000
740,082 682,649

CURRENT ASSETS
Debtors 6 3,645 2,400
Cash at bank 20,845 23,017
24,490 25,417
CREDITORS
Amounts falling due within one year 7 161,190 135,722
NET CURRENT LIABILITIES (136,700 ) (110,305 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

603,382

572,344

CREDITORS
Amounts falling due after more than one
year

8

(27,878

)

(20,425

)

PROVISIONS FOR LIABILITIES (78,024 ) (72,886 )
NET ASSETS 497,480 479,033

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 9 384,169 391,599
Retained earnings 113,211 87,334
SHAREHOLDERS' FUNDS 497,480 479,033

Jonathan Richards Properties Limited (Registered number: 06471742)

BALANCE SHEET - continued
31 January 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 20 March 2024 and were signed by:





A Saxton - Director


Jonathan Richards Properties Limited (Registered number: 06471742)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Jonathan Richards Properties 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.

Turnover
Turnover represents the value of rents receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant & equipment - 10% on reducing balance
Motor vehicles - 25% on reducing balance

All fixed assets are initially recorded at cost.

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.

All investment properties are valued annually by qualified external valuers or by officers of the company, at market value. No depreciation is provided on investment properties as the director considers that, as these properties are held for investment, to depreciate them would not give a true and fair view.

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.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Jonathan Richards Properties Limited (Registered number: 06471742)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant & Motor
equipment vehicles Totals
£    £    £   
COST
At 1 February 2023 29,800 - 29,800
Additions - 31,598 31,598
At 31 January 2024 29,800 31,598 61,398
DEPRECIATION
At 1 February 2023 17,151 - 17,151
Charge for year 1,265 7,900 9,165
At 31 January 2024 18,416 7,900 26,316
NET BOOK VALUE
At 31 January 2024 11,384 23,698 35,082
At 31 January 2023 12,649 - 12,649

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 31,598
At 31 January 2024 31,598
DEPRECIATION
Charge for year 7,900
At 31 January 2024 7,900
NET BOOK VALUE
At 31 January 2024 23,698

Jonathan Richards Properties Limited (Registered number: 06471742)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 670,000
Revaluations 35,000
At 31 January 2024 705,000
NET BOOK VALUE
At 31 January 2024 705,000
At 31 January 2023 670,000

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2012 99,282
Valuation in 2016 70,000
Valuation in 2017 100,000
Valuation in 2018 50,000
Valuation in 2019 50,000
Valuation in 2021 25,000
Valuation in 2022 45,000
Valuation in 2024 35,000
Cost 230,718
705,000

If the investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 230,718 230,718

The investment properties were valued on an open market basis on 31 January 2023 by the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,000 1,740
Other debtors 697 -
Prepayments 948 660
3,645 2,400

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 8,793 8,573
Hire purchase contracts 5,525 -
Tax - 2,360
Social security and other taxes 1,270 -
Directors' current accounts 111,776 89,521
Accruals 964 942
Other loans 32,862 34,326
161,190 135,722

Jonathan Richards Properties Limited (Registered number: 06471742)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 9,037 8,811
Bank loans - 2-5 years 3,241 11,614
Hire purchase contracts 15,600 -
27,878 20,425

9. RESERVES
Revaluation
reserve
£   
At 1 February 2023 391,599
Movement in year (7,430 )

At 31 January 2024 384,169