Company Registration No. 10836251 (England and Wales)
Jon Gauld Student Lets Limited
Unaudited accounts
for the year ended 31 March 2024
Jon Gauld Student Lets Limited
Unaudited accounts
Contents
Jon Gauld Student Lets Limited
Statement of financial position
as at 31 March 2024
Tangible assets
2,139
2,851
Investment property
12,840,000
12,840,000
Debtors
3,486,302
3,630,041
Cash at bank and in hand
130,912
204,371
Creditors: amounts falling due within one year
(1,232,014)
(1,212,586)
Net current assets
2,410,200
2,671,826
Total assets less current liabilities
15,252,339
15,514,677
Creditors: amounts falling due after more than one year
(5,105,072)
(5,437,096)
Provisions for liabilities
Deferred tax
(208,846)
(208,846)
Net assets
9,938,421
9,868,735
Called up share capital
7,749,023
7,749,023
Profit and loss account
2,189,398
2,119,712
Shareholders' funds
9,938,421
9,868,735
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 17 December 2024 and were signed on its behalf by
Jonathan Gauld
Director
Company Registration No. 10836251
Jon Gauld Student Lets Limited
Notes to the Accounts
for the year ended 31 March 2024
Jon Gauld Student Lets Limited is a private company, limited by shares, registered in England and Wales, registration number 10836251. The registered office is Unit 17 The Foundry Business Park, Seager Road, Faversham, ME13 7FD.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Straight Line
Motor vehicles
25% Reducing Balance
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Jon Gauld Student Lets Limited
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 April 2023
166,742
12,005
178,747
At 31 March 2024
166,742
12,005
178,747
At 1 April 2023
166,742
9,154
175,896
Charge for the year
-
712
712
At 31 March 2024
166,742
9,866
176,608
At 31 March 2024
-
2,139
2,139
At 31 March 2023
-
2,851
2,851
Fair value at 1 April 2023
12,840,000
At 31 March 2024
12,840,000
Amounts falling due within one year
Other debtors
3,469,977
3,630,041
7
Investments held as current assets
2024
2023
Unlisted investments
25,000
50,000
8
Creditors: amounts falling due within one year
2024
2023
Trade creditors
22,846
3,712
Taxes and social security
37,121
30,956
Other creditors
1,172,047
1,177,918
9
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
5,105,072
5,437,096
Jon Gauld Student Lets Limited
Notes to the Accounts
for the year ended 31 March 2024
10
Average number of employees
During the year the average number of employees was 7 (2023: 7).