Registered number
04215454
J Ferro Limited
Filleted Accounts
30 November 2023
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
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