Registered number
08808396
J George Limited
Filleted Accounts
31 March 2024
J George Limited
Registered number: 08808396
Balance Sheet
as at 31 March 2024
Notes 2024 2022
£ £
Fixed assets
Tangible assets 3 564,005 611,359
Current assets
Debtors 4 3,014 6,407
Cash at bank and in hand 4,000 4,000
7,014 10,407
Creditors: amounts falling due within one year 5 (456,959) (561,529)
Net current liabilities (449,945) (551,122)
Net assets 114,060 60,237
Capital and reserves
Called up share capital 2 2
Profit and loss account 114,058 60,235
Shareholder's funds 114,060 60,237
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 member has 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.
J C W George
Director
Approved by the board on 16 August 2024
J George Limited
Notes to the Accounts
for the period from 1 January 2023 to 31 March 2024
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. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Investment Properties
Investment property is shown at cost as, in the opinion of the director, this is not materially different to the current valuation.
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 2024 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2023 610,062 11,631 621,693
Additions 122,725 - 122,725
Disposals (169,755) - (169,755)
At 31 March 2024 563,032 11,631 574,663
Depreciation
At 1 January 2023 - 10,334 10,334
Charge for the period - 324 324
At 31 March 2024 - 10,658 10,658
Net book value
At 31 March 2024 563,032 973 564,005
At 31 December 2022 610,062 1,297 611,359
4 Debtors 2024 2022
£ £
Trade debtors 1,601 -
Other debtors 1,413 6,407
3,014 6,407
5 Creditors: amounts falling due within one year 2024 2022
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 182,015 295,436
Taxation and social security costs 16,432 8,677
Other creditors 258,512 257,416
456,959 561,529
6 Related party transactions
Other creditors include an amount due to the director of the company of £250,116 (2021 - £248,351). Creditors also include an amount due to the parent undertaking, J George Developments Limited of £295,436 (2021 - £312,380).
7 Controlling party
The ultimate controlling party is Mr J C W George.
8 Other information
J George Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 11
The Hawthorns
Staunton
Gloucestershire
GL19 3NY
J George Limited 08808396 false 2023-01-01 2024-03-31 2024-03-31 VT Final Accounts April 2024 J C W George No description of principal activity 08808396 2022-01-01 2022-12-31 08808396 core:WithinOneYear 2022-12-31 08808396 core:ShareCapital 2022-12-31 08808396 core:RetainedEarningsAccumulatedLosses 2022-12-31 08808396 2023-01-01 2024-03-31 08808396 bus:PrivateLimitedCompanyLtd 2023-01-01 2024-03-31 08808396 bus:AuditExemptWithAccountantsReport 2023-01-01 2024-03-31 08808396 bus:Director40 2023-01-01 2024-03-31 08808396 1 2023-01-01 2024-03-31 08808396 2 2023-01-01 2024-03-31 08808396 core:LandBuildings 2023-01-01 2024-03-31 08808396 core:PlantMachinery 2023-01-01 2024-03-31 08808396 countries:England 2023-01-01 2024-03-31 08808396 bus:FRS102 2023-01-01 2024-03-31 08808396 bus:FilletedAccounts 2023-01-01 2024-03-31 08808396 2024-03-31 08808396 core:WithinOneYear 2024-03-31 08808396 core:ShareCapital 2024-03-31 08808396 core:RetainedEarningsAccumulatedLosses 2024-03-31 08808396 core:LandBuildings 2024-03-31 08808396 core:PlantMachinery 2024-03-31 08808396 2022-12-31 08808396 core:LandBuildings 2022-12-31 08808396 core:PlantMachinery 2022-12-31 iso4217:GBP xbrli:pure