J Ferro Limited |
Registered number: |
04215454 |
Balance Sheet |
as at 30 November 2023 |
|
Notes |
|
|
2023 |
|
|
2022 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
119 |
|
|
239 |
Investments |
4 |
|
|
1,720,000 |
|
|
1,720,000 |
|
|
|
|
1,720,119 |
|
|
1,720,239 |
|
Current assets |
Debtors |
5 |
|
10,692 |
|
|
670 |
Cash at bank and in hand |
|
|
22,738 |
|
|
40,403 |
|
|
|
33,430 |
|
|
41,073 |
|
Creditors: amounts falling due within one year |
6 |
|
(38,938) |
|
|
(32,857) |
|
Net current (liabilities)/assets |
|
|
|
(5,508) |
|
|
8,216 |
|
Total assets less current liabilities |
|
|
|
1,714,611 |
|
|
1,728,455 |
|
Provisions for liabilities |
|
|
|
(47,000) |
|
|
(47,000) |
|
Net assets |
|
|
|
1,667,611 |
|
|
1,681,455 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
100 |
|
|
100 |
Revaluation reserve |
7 |
|
|
299,732 |
|
|
299,732 |
Profit and loss account |
|
|
|
1,367,779 |
|
|
1,381,623 |
|
Shareholders' funds |
|
|
|
1,667,611 |
|
|
1,681,455 |
|
|
|
|
|
|
|
|
The directors are 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 directors acknowledge their 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 R Rodriguez |
Director |
Approved by the board on 22 August 2024 |
|
J Ferro Limited |
Notes to the Accounts |
for the year ended 30 November 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. Turnover comprises rents receivable from the letting of investment properties. |
|
|
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 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 |
over 4 years |
|
|
Investment properties |
|
Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in the profit and loss account. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). |
|
|
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. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
2 |
Employees |
2023 |
|
2022 |
Number |
Number |
|
|
Average number of persons employed by the company |
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
£ |
|
Cost |
|
At 1 December 2022 |
599 |
|
At 30 November 2023 |
599 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 December 2022 |
360 |
|
Charge for the year |
120 |
|
At 30 November 2023 |
480 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 November 2023 |
119 |
|
At 30 November 2022 |
239 |
|
|
4 |
Investment properties |
|
Other |
investments |
£ |
|
Cost |
|
At 1 December 2022 |
1,720,000 |
|
|
At 30 November 2023 |
1,720,000 |
|
|
|
|
|
|
|
|
|
|
Historical cost |
|
At 1 December 2022 |
1,373,268 |
|
At 30 November 2023 |
1,373,268 |
|
|
|
|
|
|
|
|
|
|
The directors have valued the investment properties at £1,720,000 on the basis of their fair value at 30 November 2023. |
|
|
5 |
Debtors |
2023 |
|
2022 |
£ |
£ |
|
|
Loan to director |
|
|
|
|
10,000 |
|
- |
|
Other debtors |
692 |
|
670 |
|
|
|
|
|
|
10,692 |
|
670 |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
£ |
£ |
|
|
Taxation and social security costs |
13,404 |
|
11,478 |
|
Other creditors |
25,534 |
|
21,379 |
|
|
|
|
|
|
38,938 |
|
32,857 |
|
|
|
|
|
|
|
|
|
|
7 |
Fair value reserve |
2023 |
|
2022 |
£ |
£ |
|
|
At 1 December 2022 |
299,732 |
|
310,732 |
|
Transfer to profit and loss account |
- |
|
(11,000) |
|
|
At 30 November 2023 |
299,732 |
|
299,732 |
|
|
|
|
|
|
|
|
|
|
8 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
£ |
£ |
£ |
£ |
|
J R Rodriguez |
|
Short term loan repayable on demand, interest payable at HMRC official rate of interest |
- |
|
10,000 |
|
- |
|
10,000 |
|
|
|
- |
|
10,000 |
|
- |
|
10,000 |
|
|
|
|
|
|
|
|
|
|
9 |
Other information |
|
|
J Ferro Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
4 St Martin's Road |
|
London |
|
SW9 0SW |