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Registered number: 12328112
Thomas Jackson Estate Agents Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2023
Kent Coast Accounts Ltd
AAT Licenced Accountants
39 Brooke Avenue
Margate
Kent
CT9 5NG
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12328112
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,746 5,951
4,746 5,951
CURRENT ASSETS
Debtors 5 3,968 17,798
Cash at bank and in hand 102,850 135,728
106,818 153,526
Creditors: Amounts Falling Due Within One Year 6 (21,719 ) (26,339 )
NET CURRENT ASSETS (LIABILITIES) 85,099 127,187
TOTAL ASSETS LESS CURRENT LIABILITIES 89,845 133,138
NET ASSETS 89,845 133,138
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 89,745 133,038
SHAREHOLDERS' FUNDS 89,845 133,138
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For the year ending 31 August 2023 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
Mrs Samantha Gollick
Director
19th August 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Thomas Jackson Estate Agents Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12328112 . The registered office is 146 Northdown Road, Cliftonville, Margate, Kent, CT9 2QN.
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. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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 rendering of services.
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. Commission is recognised upon a completion of property sale or at the point rental income is received.
2.4. 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:
Plant & Machinery 4 years, straight line
Fixtures & Fittings 4 to 7 years, straight line
Computer Equipment 4 years, straight line
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
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 year 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.
Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
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: 5 (2022: 6)
5 6
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4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 September 2022 1,841 2,920 3,898 8,659
Additions 216 - 506 722
As at 31 August 2023 2,057 2,920 4,404 9,381
Depreciation
As at 1 September 2022 818 300 1,590 2,708
Provided during the period 503 417 1,007 1,927
As at 31 August 2023 1,321 717 2,597 4,635
Net Book Value
As at 31 August 2023 736 2,203 1,807 4,746
As at 1 September 2022 1,023 2,620 2,308 5,951
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors - 1,055
Other debtors 3,968 16,743
3,968 17,798
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors (1 ) -
Corporation tax 4,149 15,624
Other taxes and social security - 2
VAT 8,476 10,415
Net wages 140 -
Other creditors 122 -
Accruals and deferred income 741 298
Directors' loan accounts 8,092 -
21,719 26,339
7. Share Capital
2023 2022
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.000 each 100 100
8. Pension Commitments
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of 2023 - £122 (2022 - £nil ) were due to the fund. They are included in Other Creditors.
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9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 September 2022 Amounts advanced Amounts repaid Amounts written off As at 31 August 2023
£ £ £ £ £
Mr David Gollick 7,478 16,889 24,367 - -
Mrs Samantha Gollick 7,479 16,889 24,368 - -
The above loan is unsecured, interest is charged annually on the loan amount at a rate of 3%. During the financial year, interest was charged on the loan of: 2023 - £150 (2022 - £635)
10. Related Party Transactions
This Business rents commercial property from key members of the board of Directors. The annual rent paid is considered to be market value at a rate of £12,000 per year. During the financial year 2023 - £12,000 (2022- £12,000) was paid.
11. Ultimate Controlling Party Not Known
The company's ultimate controlling party is unknown.
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