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Registered Number: 00282980
England and Wales

 

 

 


Abridged Accounts

for the year ended 31 December 2023

for

F.J. SKINNER & SONS LIMITED

 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 885    1,068 
Investments 4 2,960,000    2,960,000 
2,960,885    2,961,068 
Current assets      
Debtors 4,568    3,926 
Cash at bank and in hand 161,883    133,599 
166,451    137,525 
Creditors: amount falling due within one year (23,478)   (21,127)
Net current assets 142,973    116,398 
 
Total assets less current liabilities 3,103,858    3,077,466 
Accruals and deferred income (93,333)   (103,333)
Provisions for liabilities (454,272)   (454,272)
Net assets 2,556,253    2,519,861 
 

Capital and reserves
     
Called up share capital 2,000    2,000 
Reserves 5 2,328,400    2,328,400 
Profit and loss account 225,853    189,461 
Shareholders' funds 2,556,253    2,519,861 
 


For the year ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 profit and loss account has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 11 September 2024 and were signed on its behalf by:


-------------------------------
Mr M Skinner
Director
1
General Information
F.J. Skinner & Sons Limited is a private company, limited by shares, registered in England and Wales, registration number 00282980, registration address Unit One, Central Car Park The Office, Kingsand, TORPOINT, Cornwall, PL10 1NA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Car park equipment    -    10% straight line
Fixtures and fittings    -    15% reducing balance
Motor vehicles            -    20% reducing balance
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 3 (2022 : 4).
3.

Tangible fixed assets

Cost or valuation Plant and machinery etc   Total
  £   £
At 01 January 2023 47,728    47,728 
Additions  
Disposals  
At 31 December 2023 47,728    47,728 
Depreciation
At 01 January 2023 46,660    46,660 
Charge for year 183    183 
On disposals  
At 31 December 2023 46,843    46,843 
Net book values
Closing balance as at 31 December 2023 885    885 
Opening balance as at 01 January 2023 1,068    1,068 


4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 January 2023 2,960,000    2,960,000 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
At 31 December 2023 2,960,000    2,960,000 
Investments held at valuation
The 2021 valuations were made by Brunel Estate Agents and the director, on an open market value for existing use basis.

In respect of investments held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

At 31 December 2021   Investment property
£
Aggregate cost b/fwd 187,031 
Aggregate depreciation
Carrying value 187,031 



2