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Registered number: 02671843
Jack Russell Limited
Financial Statements
For The Year Ended 31 March 2024
William Price & Co
Chartered Accountants
Westbury Court Church Road
Westbury On Trym
Bristol
BS9 3EF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02671843
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,791 1,737
Investment Properties 5 810,858 806,679
813,649 808,416
CURRENT ASSETS
Stocks 6 4,153 3,775
Debtors 7 6,065 17,178
Cash at bank and in hand 46,410 25,506
56,628 46,459
Creditors: Amounts Falling Due Within One Year 8 (22,063 ) (18,055 )
NET CURRENT ASSETS (LIABILITIES) 34,565 28,404
TOTAL ASSETS LESS CURRENT LIABILITIES 848,214 836,820
Creditors: Amounts Falling Due After More Than One Year 9 (365,372 ) (346,221 )
NET ASSETS 482,842 490,599
CAPITAL AND RESERVES
Called up share capital 10 2 2
Fair Value Reserve 11 431,664 431,664
Profit and Loss Account 51,176 58,933
SHAREHOLDERS' FUNDS 482,842 490,599
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr R C Russell
Director
22 August 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Jack Russell Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02671843 . The registered office is Westbury Court, Church Road, Westbury-On-Trym, Bristol, BS9 3EF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Nil
Plant & Machinery 4 years
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 April 2023 30,792
Additions 2,177
As at 31 March 2024 32,969
Depreciation
As at 1 April 2023 29,055
Provided during the period 1,123
As at 31 March 2024 30,178
Net Book Value
As at 31 March 2024 2,791
As at 1 April 2023 1,737
5. Investment Property
2024
£
Fair Value
As at 1 April 2023 806,679
Additions 4,179
As at 31 March 2024 810,858
Page 4
Page 5
6. Stocks
2024 2023
£ £
Materials 4,153 3,775
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 4,110 15,661
Prepayments and accrued income 1,603 1,517
Other debtors 352 -
6,065 17,178
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,439 1,128
VAT 4,977 3,677
Other creditors 13,197 6,270
Accruals and deferred income 2,450 6,980
22,063 18,055
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Directors loan account 365,372 346,221
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
11. Reserves
Fair Value Reserve
£
As at 1 April 2023 431,664
As at 31 March 2024 431,664
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