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REGISTERED NUMBER: 00768485 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 December 2023

for

J. T. Elvin Limited

J. T. Elvin Limited (Registered number: 00768485)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


J. T. Elvin Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: J M Elvin





SECRETARY: A G Chittock





REGISTERED OFFICE: 12 Unity Street
Ipswich
Suffolk
IP3 0AP





REGISTERED NUMBER: 00768485 (England and Wales)





ACCOUNTANTS: Knights Lowe Ltd
Chartered Accountants
Crane Court
302 London Road
Ipswich
Suffolk
IP2 0AJ

J. T. Elvin Limited (Registered number: 00768485)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 23,746 19,744
Investment property 5 1,160,000 1,160,000
1,183,746 1,179,744

CURRENT ASSETS
Stocks 9,200 9,100
Debtors 6 1,800 1,823
Cash at bank and in hand 596,776 536,389
607,776 547,312
CREDITORS
Amounts falling due within one year 7 37,767 49,788
NET CURRENT ASSETS 570,009 497,524
TOTAL ASSETS LESS CURRENT LIABILITIES 1,753,755 1,677,268

PROVISIONS FOR LIABILITIES 8 154,761 152,730
NET ASSETS 1,598,994 1,524,538

CAPITAL AND RESERVES
Called up share capital 9 100 100
Fair value reserve 575,322 575,322
Retained earnings 1,023,572 949,116
SHAREHOLDERS' FUNDS 1,598,994 1,524,538

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

J. T. Elvin Limited (Registered number: 00768485)

Statement of Financial Position - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 September 2024 and were signed by:





J M Elvin - Director


J. T. Elvin Limited (Registered number: 00768485)

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

1. STATUTORY INFORMATION

J. T. Elvin Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvements - 10% on cost
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 25% on reducing balance

Investment properties
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like accounts receivable and payable, bank facilities and loans from related parties.

Debt instruments that are payable or receivable within one year are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. Debt instruments that are payable or receivable after one year are initially measured at the present value of the future cash flows and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each financial year for evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised in the Income Statement.


J. T. Elvin Limited (Registered number: 00768485)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Leasehold Plant and Motor Office
improvements machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 41,231 34,519 42,648 3,450 121,848
Additions - 12,000 - - 12,000
At 31 December 2023 41,231 46,519 42,648 3,450 133,848
DEPRECIATION
At 1 January 2023 32,985 30,128 36,610 2,381 102,104
Charge for year 4,123 2,098 1,510 267 7,998
At 31 December 2023 37,108 32,226 38,120 2,648 110,102
NET BOOK VALUE
At 31 December 2023 4,123 14,293 4,528 802 23,746
At 31 December 2022 8,246 4,391 6,038 1,069 19,744

J. T. Elvin Limited (Registered number: 00768485)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 1,160,000
NET BOOK VALUE
At 31 December 2023 1,160,000
At 31 December 2022 1,160,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2012 504,972
Valuation in 2016 156,500
Valuation in 2019 (32,500 )
Valuation in 2020 102,205
Cost 428,823
1,160,000

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 428,823 428,823

The investment property was valued on an open market basis on 31 December 2023 by the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 180 104
Other debtors 1,620 1,719
1,800 1,823

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 3,090 17
Taxation and social security 20,150 16,176
Other creditors 14,527 33,595
37,767 49,788

J. T. Elvin Limited (Registered number: 00768485)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 4,906 2,875
Investment property gains 149,855 149,855
154,761 152,730

Deferred
tax
£   
Balance at 1 January 2023 152,730
Charge to Income Statement during year 2,031
Increase in tax rate
Balance at 31 December 2023 154,761

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100