Caseware UK (AP4) 2023.0.135 2023.0.135 true2023-01-01falsedealing with the development of land and property investment22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 522002 2023-01-01 2023-12-31 522002 2022-01-01 2022-12-31 522002 2023-12-31 522002 2022-12-31 522002 2022-01-01 522002 c:Director1 2023-01-01 2023-12-31 522002 d:PlantMachinery 2023-01-01 2023-12-31 522002 d:PlantMachinery 2023-12-31 522002 d:PlantMachinery 2022-12-31 522002 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 522002 d:FreeholdInvestmentProperty 2023-12-31 522002 d:FreeholdInvestmentProperty 2022-12-31 522002 d:CurrentFinancialInstruments 2023-12-31 522002 d:CurrentFinancialInstruments 2022-12-31 522002 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 522002 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 522002 d:ShareCapital 2023-12-31 522002 d:ShareCapital 2022-12-31 522002 d:ShareCapital 2022-01-01 522002 d:InvestmentPropertiesRevaluationReserve 2023-12-31 522002 d:InvestmentPropertiesRevaluationReserve 2022-12-31 522002 d:InvestmentPropertiesRevaluationReserve 2022-01-01 522002 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 522002 d:RetainedEarningsAccumulatedLosses 2023-12-31 522002 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 522002 d:RetainedEarningsAccumulatedLosses 2022-12-31 522002 d:RetainedEarningsAccumulatedLosses 2022-01-01 522002 c:FRS102 2023-01-01 2023-12-31 522002 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 522002 c:FullAccounts 2023-01-01 2023-12-31 522002 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 522002 d:OtherDeferredTax 2023-12-31 522002 d:OtherDeferredTax 2022-12-31 522002 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Registered number: 522002





 
R.J.Isbell & Son Limited          
 
Financial statements          

For the year ended 31 December 2023          

 
R.J.Isbell & Son Limited
Registered number:522002

Balance sheet
As at 31 December 2023


2023 

2022 
                                                                                    Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
1,262
1,402

Investment property
 5 
690,000
690,000

  
691,262
691,402

Current assets
  

Stock
 6 
3,143
3,143

Debtors
 7 
81,383
79,202

Cash at bank and in hand
 8 
255,618
240,537

  
340,144
322,882

Creditors: amounts falling due within one year
 9 
(169,025)
(149,345)

Net current assets
  
 
 
171,119
 
 
173,537

Total assets less current liabilities
  
862,381
864,939

Provisions for liabilities
  

Deferred tax
 10 
(79,662)
(79,662)

Net assets
  
782,719
785,277


Capital and reserves
  

Called up share capital 
  
20,000
20,000

Investment property revaluation reserve
  
522,621
522,621

Profit and loss account
  
240,098
242,656

  
782,719
785,277


The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.



 
Page 1

 
R.J.Isbell & Son Limited
Registered number:522002
    
Balance sheet (continued)
As at 31 December 2023

The financial statements were approved and authorised for issue by the board; and were signed on its behalf on 24 September 2024.







P.C. Isbell
Director






















The notes on pages 4 to 9 form part of these financial statements.
Page 2

 
R.J.Isbell & Son Limited
 

Statement of changes in equity
For the year ended 31 December 2023


Called up share capital
Investment property revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 January 2023
20,000
522,621
242,656
785,277



Profit for the year
-
-
31,342
31,342

Dividends: Equity capital
-
-
(33,900)
(33,900)


At 31 December 2023
20,000
522,621
240,098
782,719





 


Statement of changes in equity
For the year ended 31 December 2022


Called up share capital
Investment
property
revaluation
reserve
Profit and loss account
Total equity

£
£
£
£

At 1 January 2022
20,000
522,621
250,038
792,659



Profit for the year
-
-
33,618
33,618

Dividends: Equity capital
-
-
(41,000)
(41,000)


At 31 December 2022
20,000
522,621
242,656
785,277








The notes on pages 4 to 9 form part of these financial statements.
Page 3

 
R.J.Isbell & Son Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

1.


General information

R.J. Isbell & Son Limited is a private company limited by shares, incorporated in England and Wales. Its registered office is Construction House, Runwell Road, Wickford, Essex SS11 7HQ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided at the following rate:

Plant and equipment
-
10%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.3

Investment property

Investment property is carried at fair value determined annually by the director, having regard to professional advice taken personally, and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Profit and Loss Account.

 
2.4

Stock

Stock is stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. 
At each balance sheet date, stock is assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 4

 
R.J.Isbell & Son Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.9

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
R.J.Isbell & Son Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.10

Current and deferred taxation

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 6

 
R.J.Isbell & Son Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

4.


Tangible fixed assets





Plant and equipment

£



Cost 


At 1 January 2023
2,635



At 31 December 2023

2,635



Depreciation


At 1 January 2023
1,233


Charge for the year 
140



At 31 December 2023

1,373



Net book value



At 31 December 2023
1,262



At 31 December 2022
1,402

Page 7

 
R.J.Isbell & Son Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

5.


Investment property


Freehold investment property

£



Valuation


At 1 January 2023
690,000



At 31 December 2023
690,000

The 2023 valuations were made by the director, having regard to professional advice taken personally, on an open market value for existing use basis.



If the investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
87,717
87,717

Accumulated depreciation and impairments
-
-

87,717
87,717


6.


Stock

2023
2022
£
£

Land
3,143
3,143



7.


Debtors

2023
2022
£
£


Trade debtors
69,286
60,277

PAYE recoverable
47
81

Prepayments and accrued income
12,050
18,844

81,383
79,202


Page 8

 
R.J.Isbell & Son Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
255,618
240,537



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to associated company
7,650
7,650

Corporation tax
8,430
7,922

Other creditors
150,241
131,077

Accruals and deferred income
2,704
2,696

169,025
149,345



10.


Deferred taxation




2023
2022


£

£






At beginning of year
79,662
79,662



At end of year
79,662
79,662

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Unrealised surplus on revalued investment property
79,662
79,662


11.


Related party transactions

At the balance sheet date the company owed £7,650 (2022 - £7,650) to R.J. Isbell & Son (East Anglia) Limited, an associated company due to common directors. No interest is charged on this loan. 

 
Page 9