Registered number
07415153
Juliff Homes Limited
Unaudited Filleted Accounts
30 April 2024
Latimers
charatered accountants and tax advisors
como house, como road
malvern
worcs
wr14 2th
01905 29348
Juliff Homes Limited
Registered number: 07415153
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 38,227 43,186
Investments 4 1,929,542 1,072,000
1,967,769 1,115,186
Current assets
Stocks 1,483,049 1,758,197
Debtors 5 13,586 28,977
Cash at bank and in hand 1,336,862 1,604,677
2,833,497 3,391,851
Creditors: amounts falling due within one year 6 (430,120) (520,165)
Net current assets 2,403,377 2,871,686
Total assets less current liabilities 4,371,146 3,986,872
Provisions for liabilities (9,245) (10,797)
Net assets 4,361,901 3,976,075
Capital and reserves
Called up share capital 100 100
Non distributable reserve 7 434,962 434,962
Profit and loss account 3,926,839 3,541,013
Shareholder's funds 4,361,901 3,976,075
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
L R Juliff
Director
Approved by the board on 10 January 2025
Juliff Homes Limited
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Revenue on residential property development is recognised when the significant rewards of ownership have been transferred to the purchaser and is recognised on legal completion. Where properties are accepted in part exchange the net proceeds on subsequent sale are recognised through cost of sales on legal completion.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investment Property
Investment properties, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently , it is measured at fair value at the reporting end date. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 May 2023 50,540 14,310 27,949 92,799
Additions - 2,329 8,990 11,319
At 30 April 2024 50,540 16,639 36,939 104,118
Depreciation
At 1 May 2023 38,190 5,833 5,590 49,613
Charge for the year 6,017 2,873 7,388 16,278
At 30 April 2024 44,207 8,706 12,978 65,891
Net book value
At 30 April 2024 6,333 7,933 23,961 38,227
At 30 April 2023 12,350 8,477 22,359 43,186
4 Investment property
Other
investments
£
Cost
At 1 May 2023 1,072,000
Additions 857,542
At 30 April 2024 1,929,542
Historical cost
At 1 May 2023 637,038
At 30 April 2024 1,494,580
The fair value of the investment properties has been arrived at on the basis of a valuation carried out by the director of the company and has been made on an open market basis.
5 Debtors 2024 2023
£ £
Other debtors 13,586 28,977
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 94,320 149,809
Taxation and social security costs 174,245 144,780
Other creditors 161,555 225,576
430,120 520,165
7 Non distributable reserve 2024 2023
£ £
At 1 May 2023 434,962 361,228
Investment property fair value movement for year transferred from profit and loss reserve - 73,734
At 30 April 2024 434,962 434,962
8 Related party transactions
Juliff Brickwork has advanced an interest free loan to Juliff Homes Limited. The amount outstanding at 30th April 2024 was £115739 (2023 £224369) and is repayable on demand. Juliff Brickwork is also controlled by L R Juliff
9 Controlling party
L R Juliff is the ultimate controlling party by virtue of his shareholding in the company
10 Other information
Juliff Homes Limited is a private company limited by shares and incorporated in England. Its registered office is:
Latimers
Como House, Como Road
Malvern
Worcs
WR14 2TH
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