Registered number
11525004
JOSH LAWSONS LIMITED
Filleted Accounts
31 August 2023
JOSH LAWSONS LIMITED
Registered number: 11525004
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,943,557 1,943,557
Current assets
Cash at bank and in hand 54,207 47,176
Creditors: amounts falling due within one year 4 (205,258) (208,177)
Net current liabilities (151,051) (161,001)
Total assets less current liabilities 1,792,506 1,782,556
Creditors: amounts falling due after more than one year 5 (880,249) (887,070)
Net assets 912,257 895,486
Capital and reserves
Called up share capital 2,000 2,000
Share premium 849,889 849,889
Profit and loss account 60,368 43,597
Shareholders' funds 912,257 895,486
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ajit Singh SIDHU
Director
Approved by the board on 30 July 2024
JOSH LAWSONS LIMITED
Notes to the Accounts
for the year ended 31 August 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes (if applicable). Turnover represents the value of rent receivable.
Investment properties
Investment properties are revalued annually and the aggregate surplus or deficit is transferred to revaluation reserve. No depreciation is provided in respect of investment properties.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 September 2022 1,943,557
At 31 August 2023 1,943,557
Depreciation
At 31 August 2023 -
Net book value
At 31 August 2023 1,943,557
At 31 August 2022 1,943,557
Freehold land and buildings: 2023 2022
£ £
Historical cost 1,943,557 1,943,557
1,943,557 1,943,557
The investment properties were measured for fair value by the directors, and in their opinion the fair value of the investment property is fairly stated.
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 7,587 8,379
Trade creditors 4,584 6,207
Taxation and social security costs 4,546 3,975
Directors loan account 54,832 55,906
Other creditors 133,709 133,710
205,258 208,177
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 759,249 766,070
Shareholders' loan 121,000 121,000
880,249 887,070
6 Loans 2023 2022
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 659,885 659,885
Instalments falling due for payment after more than five years 73,824 72,575
733,709 732,460
Secured bank loans 760,203 765,583
The bank loan is secured by first charge over the freehold land and buildings held by the company.
7 Related party transactions
Other creditors include total unsecured loan £132,510 (2022: £132,510) from the following companies, incorporated in England: 1) Jaujar Enterprises Ltd £40,000 (2022: £40,000); 2) Jaujar Estate Ltd £50,000 (2022: £50,000); 3) Jaujar Investments Ltd £20,010 (2022: £20,010); and 4) Sidhu & Samra Properties Ltd £22,500 (2022: £22,500). All the companies are jointly controlled by the directors Mr Ajit S Sidhu with his close family members.
The company received loans from the shareholders and their close family members and total loan balance amounting to £121,000 (2022: £121,000) as at balance sheet date. The loans were shown as shareholders' loan: amounts falling due after more than one year. The rate of interest charged is 0%.
8 Controlling party
During the period the company was controlled by its director Mr A S Sidhu.
9 Other information
JOSH LAWSONS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
3 Craneswater Park
Southall
UB2 5RW
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