2023-04-012024-03-312024-03-31false05960208JAF (Yeovil) 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JAF (Yeovil) Limited

Registered Number
05960208
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

JAF (Yeovil) Limited
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

Frosdick, John Arthur

Company Secretary

Frosdick, Doreen Carole

Registered Address

Orchard Farm, 67 High Street
West Coker
Yeovil
BA22 9AS

Registered Number

05960208 (England and Wales)
JAF (Yeovil) Limited
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets310,26413,792
Investments4587,000625,000
597,264638,792
Current assets
Debtors61,4311,504
Cash at bank and on hand69,138213,152
70,569214,656
Creditors amounts falling due within one year7(191,856)(348,734)
Net current assets (liabilities)(121,287)(134,078)
Total assets less current liabilities475,977504,714
Provisions for liabilities(23,811)(31,701)
Net assets452,166473,013
Capital and reserves
Called up share capital500500
Revaluation reserve153,467184,247
Profit and loss account298,199288,266
Shareholders' funds8452,166473,013
The financial statements were approved and authorised for issue by the Director on 12 November 2024, and are signed on its behalf by:
Frosdick, John Arthur
Director
Registered Company No. 05960208
JAF (Yeovil) Limited
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery25-
Fixtures and fittings25-
Vehicles25-
Office Equipment-3
Investments
Investments property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 April 2359,415
At 31 March 2459,415
Depreciation and impairment
At 01 April 2345,623
Charge for year3,528
At 31 March 2449,151
Net book value
At 31 March 2410,264
At 31 March 2313,792
4.Fixed asset investments

Total

£
Cost or valuation
At 01 April 23625,000
Revaluations(38,000)
At 31 March 24587,000
Net book value
At 31 March 24587,000
At 31 March 23625,000
5.Revaluation of fixed asset investments
If the investment properties had not been revalued they would have been included at historical cost of £411,671 (2023: £411,671). The investment properties were valued on an open market basis on 31 March 2024 by the director.

2024

2023

££
Investments587,000625,000
6.Debtors: amounts due within one year

2024

2023

££
Other debtors715715
Prepayments and accrued income716789
Total1,4311,504
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables6,0884,328
Amounts owed to related parties180,562330,787
Taxation and social security3,92812,407
Accrued liabilities and deferred income1,2781,212
Total191,856348,734
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
8.Revaluation reserve
The revaluation reserve is non-distributable.

£
Reserve at 01 April 23184,247
Revaluations of plant, property and equipment(38,000)
Deferred Tax on Revaluations7,220
At 31 March 24153,467