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Registration number: 07937799

LJF Seymours Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

LJF Seymours Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

LJF Seymours Limited

Company Information

Directors

G B Ferrucci

L J Moss

F Orlando

J Taylor

Registered office

Maria House
35 Millers Road
Brighton
BN1 5NP

Accountants

Chisnall Comer Ismail & Co
Chartered Accountants
Maria House
35 Millers Road
Brighton
BN1 5NP

 

LJF Seymours Limited

(Registration number: 07937799)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

121,302

123,006

Current assets

 

Debtors

5

306,688

198,300

Cash at bank and in hand

 

200,108

332,230

 

506,796

530,530

Creditors: Amounts falling due within one year

6

(297,316)

(193,028)

Net current assets

 

209,480

337,502

Total assets less current liabilities

 

330,782

460,508

Creditors: Amounts falling due after more than one year

6

(3,738)

(24,166)

Provisions for liabilities

8

(30,325)

-

Net assets

 

296,719

436,342

Capital and reserves

 

Called up share capital

10

8

8

Retained earnings

296,711

436,334

Shareholders' funds

 

296,719

436,342

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

LJF Seymours Limited

(Registration number: 07937799)
Balance Sheet as at 31 December 2023

Approved and authorised by the Board on 10 September 2024 and signed on its behalf by:



 

.........................................

L J Moss

Director

 

LJF Seymours Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Maria House
35 Millers Road
Brighton
BN1 5NP

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of estate agency services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

LJF Seymours Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% Reducing balance

Computer equipment

33% Straight line

Plant and machinery

25% Reducing balance

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 15 (2022 - 16).

 

LJF Seymours Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2023

118,163

25,326

6,380

149,869

At 31 December 2023

118,163

25,326

6,380

149,869

Depreciation

At 1 January 2023

-

24,271

2,592

26,863

Charge for the year

-

757

947

1,704

At 31 December 2023

-

25,028

3,539

28,567

Carrying amount

At 31 December 2023

118,163

298

2,841

121,302

At 31 December 2022

118,163

1,055

3,788

123,006

Included within the net book value of land and buildings above is £118,163 (2022 - £118,163) in respect of long leasehold land and buildings.
 

5

Debtors

Current

2023
£

2022
£

Trade debtors

112,061

27,607

Prepayments

12,908

16,693

Other debtors

181,719

154,000

 

306,688

198,300

 

LJF Seymours Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

10,000

10,000

Trade creditors

 

11,943

7,233

Amounts owed to group undertakings and undertakings in which the company has a participating interest

66,335

1,412

Taxation and social security

 

182,171

157,213

Accruals and deferred income

 

7,626

10,422

Other creditors

 

19,241

6,748

 

297,316

193,028

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

14,166

24,166

Other non-current financial liabilities

 

(10,428)

-

 

3,738

24,166

 

LJF Seymours Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

14,166

24,166

2023
£

2022
£

Current loans and borrowings

Bank borrowings

10,000

10,000

8

Provisions for liabilities

Deferred tax

Deferred tax provisions comprise of:

2023
£

2022
£

Accelerated capital allowances

30,325

-

The directors have considered the deferred tax liabilities noted above and concluded that it is not possible to state the estimated liabilities that will reverse within the next 12 months. This is due to the level of reversal being dependent on events which are not yet known.

9

Dividends

   

2023

 

2022

   

£

 

£

Interim dividend of £38,984.22 (2022 - £27,793.75) per ordinary share

 

311,874

 

222,350

         

10

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

8

8

8

8