Jack Britton Limited 00629240 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is the letting of its investment properties. Digita Accounts Production Advanced 6.30.9574.0 true true 00629240 2023-06-01 2024-05-31 00629240 2024-05-31 00629240 bus:OrdinaryShareClass1 2024-05-31 00629240 bus:OrdinaryShareClass2 2024-05-31 00629240 bus:OrdinaryShareClass3 2024-05-31 00629240 core:CurrentFinancialInstruments 2024-05-31 00629240 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 00629240 core:FurnitureFittingsToolsEquipment 2024-05-31 00629240 bus:SmallEntities 2023-06-01 2024-05-31 00629240 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 00629240 bus:FilletedAccounts 2023-06-01 2024-05-31 00629240 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 00629240 bus:RegisteredOffice 2023-06-01 2024-05-31 00629240 bus:CompanySecretaryDirector1 2023-06-01 2024-05-31 00629240 bus:Director1 2023-06-01 2024-05-31 00629240 bus:OrdinaryShareClass1 2023-06-01 2024-05-31 00629240 bus:OrdinaryShareClass2 2023-06-01 2024-05-31 00629240 bus:OrdinaryShareClass3 2023-06-01 2024-05-31 00629240 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 00629240 core:FurnitureFittingsToolsEquipment 2023-06-01 2024-05-31 00629240 core:OfficeEquipment 2023-06-01 2024-05-31 00629240 core:PlantMachinery 2023-06-01 2024-05-31 00629240 countries:EnglandWales 2023-06-01 2024-05-31 00629240 2023-05-31 00629240 core:FurnitureFittingsToolsEquipment 2023-05-31 00629240 2022-06-01 2023-05-31 00629240 2023-05-31 00629240 bus:OrdinaryShareClass1 2023-05-31 00629240 bus:OrdinaryShareClass2 2023-05-31 00629240 bus:OrdinaryShareClass3 2023-05-31 00629240 core:CurrentFinancialInstruments 2023-05-31 00629240 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 00629240 core:FurnitureFittingsToolsEquipment 2023-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 00629240

Jack Britton Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Jack Britton Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Jack Britton Limited

Company Information

Directors

Mr D Britton

Mr R Britton

Company secretary

Mr R Britton

Registered office

1 The Strand
Attenborough
Beeston
Nottingham
NG9 6AU

Accountants

RWB CA Limited
Northgate House
North Gate
New Basford
Nottingham
NG7 7BQ

 

Jack Britton Limited

(Registration number: 00629240)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

37,126

16,464

Investment property

6

1,940,000

1,940,000

 

1,977,126

1,956,464

Current assets

 

Debtors

7

12,766

17,670

Cash at bank and in hand

 

22,392

16,455

 

35,158

34,125

Creditors: Amounts falling due within one year

8

(50,787)

(45,428)

Net current liabilities

 

(15,629)

(11,303)

Total assets less current liabilities

 

1,961,497

1,945,161

Provisions for liabilities

(98,134)

(98,134)

Net assets

 

1,863,363

1,847,027

Capital and reserves

 

Called up share capital

9

2,010

2,010

Retained earnings

1,861,353

1,845,017

Shareholders' funds

 

1,863,363

1,847,027

For the financial year ending 31 May 2024 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.

 

Jack Britton Limited

(Registration number: 00629240)
Balance Sheet as at 31 May 2024

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.

Approved and authorised by the Board on 6 September 2024 and signed on its behalf by:

.........................................
Mr D Britton
Director

.........................................
Mr R Britton
Company secretary and director

 
     
 

Jack Britton Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

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:
1 The Strand
Attenborough
Beeston
Nottingham
NG9 6AU

These financial statements were authorised for issue by the Board on 6 September 2024.

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

The financial statements have been prepared under the historical cost convention and in accordance with FRS 102 section 1A small entities, 'The Financial Reporting Standard applicable to the Micro-entities 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 rents and services of the company's properties.

Tax

The tax expense for the period comprises current 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.

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

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.

 

Jack Britton Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

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

Plant and machinery

4% Straightline method

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in the profit and loss account.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from tenants for rents in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Jack Britton Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

1,268

784

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 June 2023

19,640

19,640

Additions

21,930

21,930

At 31 May 2024

41,570

41,570

Depreciation

At 1 June 2023

3,176

3,176

Charge for the year

1,268

1,268

At 31 May 2024

4,444

4,444

Carrying amount

At 31 May 2024

37,126

37,126

At 31 May 2023

16,464

16,464

6

Investment properties

2024
£

At 1 June

1,940,000

At 31 May

1,940,000

The investment properties are carried at fair value based on a valuation by the directors with reference to open market value.

 

Jack Britton Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

7

Debtors

2024
£

2023
£

Trade debtors

4,073

4,027

Prepayments

-

128

Other debtors

8,693

13,515

12,766

17,670

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

5,917

-

Taxation and social security

20,011

12,482

Accruals and deferred income

8,714

6,357

Other creditors

16,145

26,589

50,787

45,428

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

A Ordinary of £1 each

1,996

1,996

1,996

1,996

B Ordinary of £1 each

2

2

2

2

C Ordinary of £1 each

12

12

12

12

2,010

2,010

2,010

2,010