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Registered Number: 07647403
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 March 2024

for

JAMES LAURENCE LETTINGS LIMITED

Director D Gibbins
Registered Number 07647403
Registered Office 33 Ludgate Hill
Birmingham
West Midlands
B3 1EH
Accountants Pointon Young
33 Ludgate Hill
Birmingham
B3 1EH
1
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of James Laurence Lettings Limited for the year ended 31 March 2024 which comprise the Income Statement, the Statement of Financial Position, and related notes from the companys accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://icaew.com/regulations.

This report is made solely to the Board of Directors of James Laurence Lettings Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of James Laurence Lettings Limited and state those matters that we have agreed to state to the Board of Directors of James Laurence Lettings Limited, as a body, in this report in accordance with AAF 2/10 as detailed at http://icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than James Laurence Lettings Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that James Laurence Lettings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of James Laurence Lettings Limited. You consider that James Laurence Lettings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of James Laurence Lettings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.



....................................................

Pointon Young

33 Ludgate Hill
Birmingham
B3 1EH
14 January 2025
2
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 7,172    6,456 
7,172    6,456 
Current assets      
Debtors: amounts falling due within one year 4 17,213    23,374 
Debtors: amounts falling due after one year 5 1,072,229    773,761 
Creditors: amount falling due within one year 6 (552,752)   (395,853)
Net current assets 536,690    401,282 
 
Total assets less current liabilities 543,862    407,738 
Creditors: amount falling due after more than one year 7 (291,400)   (322,965)
Net assets 252,462    84,773 
 

Capital and reserves
     
Called up share capital 166    166 
Share premium account 8 59,934    59,934 
Profit and loss account 192,362    24,673 
Shareholders' funds 252,462    84,773 
 


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 14 January 2025 and were signed by:


-------------------------------
D Gibbins
Director
3
General Information
James Laurence Lettings Limited is a private company, limited by shares, registered in England and Wales, registration number 07647403, registration address 33 Ludgate Hill, Birmingham, West Midlands, B3 1EH.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Preference dividends
Where preference shares are classed as liabilities rather than equity any preference dividends paid are included in interest payable and similar charges within the income statement.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 25% Straight Line
2.

Average number of employees


Average number of employees during the year was 3 (2023 : 4).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Total
  £   £
At 01 April 2023 10,633    10,633 
Additions 4,471    4,471 
Disposals  
At 31 March 2024 15,104    15,104 
Depreciation
At 01 April 2023 4,177    4,177 
Charge for year 3,755    3,755 
On disposals  
At 31 March 2024 7,932    7,932 
Net book values
Closing balance as at 31 March 2024 7,172    7,172 
Opening balance as at 01 April 2023 6,456    6,456 


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Other Debtors 17,213    23,374 
17,213    23,374 

5.

Debtors: amounts falling due after one year

2024
£
  2023
£
Other Debtors 1,072,229    773,761 
1,072,229    773,761 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 361,584    281,989 
Bank Loans & Overdrafts (Secured) 30,137    28,461 
Corporation Tax 71,146    12,152 
PAYE & Social Security 2,770    2,504 
Other Creditors 17,487    39,130 
VAT 69,628    31,617 
552,752    395,853 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts (secured) 150,292    52,485 
Other Creditors 141,108    270,480 
291,400    322,965 

8.

Share premium account

2024
£
  2023
£
Equity Share Premium b/fwd 59,934    59,934 
59,934    59,934 

4