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REGISTERED NUMBER: 00745138 (England and Wales)















R J YOUNG PROPERTIES (STAFFORD) LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024






R J YOUNG PROPERTIES (STAFFORD) LIMITED (REGISTERED NUMBER: 00745138)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


R J YOUNG PROPERTIES (STAFFORD) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: N F Chaplin
J W Dean
J M Richards





SECRETARY: N F Chaplin





REGISTERED OFFICE: Gibson House
Hurricane Court
Hurricane Close
Stafford
ST16 1GZ





REGISTERED NUMBER: 00745138 (England and Wales)

R J YOUNG PROPERTIES (STAFFORD) LIMITED (REGISTERED NUMBER: 00745138)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 823 1,097
Investment property 5 825,000 825,000
825,823 826,097

CURRENT ASSETS
Debtors 6 3,086 3,428
Cash at bank 123,305 104,046
126,391 107,474
CREDITORS
Amounts falling due within one year 7 (39,642 ) (38,362 )
NET CURRENT ASSETS 86,749 69,112
TOTAL ASSETS LESS CURRENT LIABILITIES 912,572 895,209

PROVISIONS FOR LIABILITIES (105,305 ) (92,728 )
NET ASSETS 807,267 802,481

CAPITAL AND RESERVES
Called up share capital 8 2,000 2,000
Revaluation reserve 9 470,004 482,616
Retained earnings 335,263 317,865
SHAREHOLDERS' FUNDS 807,267 802,481

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

R J YOUNG PROPERTIES (STAFFORD) LIMITED (REGISTERED NUMBER: 00745138)

BALANCE SHEET - continued
31 MARCH 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 October 2024 and were signed on its behalf by:





N F Chaplin - Director


R J YOUNG PROPERTIES (STAFFORD) LIMITED (REGISTERED NUMBER: 00745138)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

R J Young Properties (Stafford) 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The financial statements have been prepared under the historical cost convention.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below.

Turnover
Turnover is measured at the fair value of the consideration received or receivable . The policies adopted for the recognition of turnover are as follows:

Rental income
Rental income from operating leases (net of any incentives given to the lessees) is recognised on a straight-line basis over the lease term.

Interest receivable
Interest income is recognised using the effective interest method is recognised as the company's right to receive payment is established.

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

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investment property
Investment property is included at fair value. Gains and losses are recognised in the fair value reserve. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value of £825,000 is based upon a valuation carried out by Lowe Surveyors Limited. In the opinion of the directors the investment property is included at an amount that accords to its fair value at the balance sheet date.


R J YOUNG PROPERTIES (STAFFORD) LIMITED (REGISTERED NUMBER: 00745138)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Operating leases
Assets held for use in operating leases are included in fixed assets. Rental income from operating leases is recognised according to the terms of the leases which are reviewed regularly.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate are receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

R J YOUNG PROPERTIES (STAFFORD) LIMITED (REGISTERED NUMBER: 00745138)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 29,502
DEPRECIATION
At 1 April 2023 28,405
Charge for year 274
At 31 March 2024 28,679
NET BOOK VALUE
At 31 March 2024 823
At 31 March 2023 1,097

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 825,000
NET BOOK VALUE
At 31 March 2024 825,000
At 31 March 2023 825,000

All of the properties are rented out under operating leases.

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2016 524,103
Valuation in 2020 51,000
Valuation in 2021 249,897
825,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,771 1,985
Prepayments and accrued income 1,315 1,443
3,086 3,428

R J YOUNG PROPERTIES (STAFFORD) LIMITED (REGISTERED NUMBER: 00745138)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 3,150 1,692
Tax 14,631 12,925
Other creditors 15,428 17,501
Rent deposits held 2,683 2,675
Accruals and deferred income 3,750 3,569
39,642 38,362

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2,000 Ordinary £1 2,000 2,000

9. RESERVES
Revaluation
reserve
£   
At 1 April 2023 482,616
Deferred tax movement in relation to
revaluation

(12,612

)


At 31 March 2024 470,004