2 01/04/2023 31/03/2024 2024-03-31 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-04-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 11705724 2023-04-01 2024-03-31 11705724 2024-03-31 11705724 2023-03-31 11705724 2022-04-01 2023-03-31 11705724 2023-03-31 11705724 2022-03-31 11705724 bus:Director1 2023-04-01 2024-03-31 11705724 bus:Director2 2023-04-01 2024-03-31 11705724 core:WithinOneYear 2024-03-31 11705724 core:WithinOneYear 2023-03-31 11705724 core:ShareCapital 2024-03-31 11705724 core:ShareCapital 2023-03-31 11705724 core:RetainedEarningsAccumulatedLosses 2024-03-31 11705724 core:RetainedEarningsAccumulatedLosses 2023-03-31 11705724 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 11705724 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 11705724 bus:Director1 2023-03-31 11705724 bus:Director1 2024-03-31 11705724 bus:Director2 2023-03-31 11705724 bus:Director2 2024-03-31 11705724 bus:Director1 2022-03-31 11705724 bus:Director1 2023-03-31 11705724 bus:Director2 2022-03-31 11705724 bus:Director2 2023-03-31 11705724 bus:Director1 2022-04-01 2023-03-31 11705724 bus:Director2 2022-04-01 2023-03-31 11705724 bus:SmallEntities 2023-04-01 2024-03-31 11705724 bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 11705724 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 11705724 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11705724 bus:FullAccounts 2023-04-01 2024-03-31
Company registration number: 11705724
T James (Storage) Limited
Pages for filing with Registrar
31 March 2024
T James (Storage) Limited
Contents
Statement of financial position
Notes to the financial statements
T James (Storage) Limited
Statement of financial position
31 March 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 309,401 309,401
_______ _______
309,401 309,401
Current assets
Debtors 6 2,700 2,093
Cash at bank and in hand 30,931 39,510
_______ _______
33,631 41,603
Creditors: amounts falling due
within one year 7 ( 149,735) ( 191,165)
_______ _______
Net current liabilities ( 116,104) ( 149,562)
_______ _______
Total assets less current liabilities 193,297 159,839
_______ _______
Net assets 193,297 159,839
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 193,197 159,739
_______ _______
Shareholders funds 193,297 159,839
_______ _______
For the year ending 31 March 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 08 November 2024 , and are signed on behalf of the board by:
Mrs Suzanne Jones
Director
Company registration number: 11705724
T James (Storage) Limited
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is West Sleekburn Industrial Estate, West Sleekburn, Bedlington, Northumberland, NE22 7LQ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the 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.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Freehold property Total
£ £
Cost
At 1 April 2023 and 31 March 2024 309,401 309,401
_______ _______
Carrying amount
At 31 March 2024 309,401 309,401
_______ _______
At 31 March 2023 309,401 309,401
_______ _______
6. Debtors
2024 2023
£ £
Trade debtors 2,500 1,893
Other debtors 200 200
_______ _______
2,700 2,093
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 118,904 137,983
Trade creditors 570 276
Corporation tax 9,771 11,880
Other creditors 20,490 41,026
_______ _______
149,735 191,165
_______ _______
8. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mrs Suzanne Jones ( 19,863) 19,268 ( 595)
Mrs Nicola James ( 19,863) 19,268 ( 595)
_______ _______ _______
( 39,726) 38,536 ( 1,190)
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mrs Suzanne Jones ( 29,963) 10,100 ( 19,863)
Mrs Nicola James ( 29,963) 10,100 ( 19,863)
_______ _______ _______
( 59,926) 20,200 ( 39,726)
_______ _______ _______