James Raymond Homes Limited 09536864 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is Rental business Digita Accounts Production Advanced 6.30.9574.0 true true 09536864 2023-05-01 2024-04-30 09536864 2024-04-30 09536864 core:OtherReservesSubtotal 2024-04-30 09536864 core:RetainedEarningsAccumulatedLosses 2024-04-30 09536864 core:ShareCapital 2024-04-30 09536864 core:CurrentFinancialInstruments 2024-04-30 09536864 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 09536864 core:Non-currentFinancialInstruments 2024-04-30 09536864 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 09536864 bus:SmallEntities 2023-05-01 2024-04-30 09536864 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 09536864 bus:FilletedAccounts 2023-05-01 2024-04-30 09536864 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 09536864 bus:RegisteredOffice 2023-05-01 2024-04-30 09536864 bus:Director1 2023-05-01 2024-04-30 09536864 bus:Director2 2023-05-01 2024-04-30 09536864 bus:Director3 2023-05-01 2024-04-30 09536864 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 09536864 countries:EnglandWales 2023-05-01 2024-04-30 09536864 2023-04-30 09536864 2022-05-01 2023-04-30 09536864 2023-04-30 09536864 core:OtherReservesSubtotal 2023-04-30 09536864 core:RetainedEarningsAccumulatedLosses 2023-04-30 09536864 core:ShareCapital 2023-04-30 09536864 core:CurrentFinancialInstruments 2023-04-30 09536864 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 09536864 core:Non-currentFinancialInstruments 2023-04-30 09536864 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 iso4217:GBP xbrli:pure

Registration number: 09536864

James Raymond Homes Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

James Raymond Homes Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

James Raymond Homes Limited

Company Information

Directors

Dr AM Raymond

LC Raymond

A P Raymond

Registered office

Kingfisher Court
Plaxton Bridge Road
Woodmansey
Beverley
East Yorkshire
HU17 0RT

 

James Raymond Homes Limited

(Registration number: 09536864)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

527,662

642,662

Current assets

 

Debtors

5

2,194

2,437

Cash at bank and in hand

 

5,289

7,352

 

7,483

9,789

Creditors: Amounts falling due within one year

6

(348,806)

(344,754)

Net current liabilities

 

(341,323)

(334,965)

Total assets less current liabilities

 

186,339

307,697

Creditors: Amounts falling due after more than one year

6

(174,600)

(279,600)

Provisions for liabilities

-

(411)

Net assets

 

11,739

27,686

Capital and reserves

 

Called up share capital

100

100

Other reserves

2,165

2,165

Retained earnings

9,474

25,421

Shareholders' funds

 

11,739

27,686

For the financial year ending 30 April 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 accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 January 2025 and signed on its behalf by:
 

.........................................
Dr AM Raymond
Director

 

James Raymond Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 09536864.

The address of its registered office is:
Kingfisher Court
Plaxton Bridge Road
Woodmansey
Beverley
East Yorkshire
HU17 0RT

These financial statements were authorised for issue by the Board on 26 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Going concern

The directors realise that there are concerns over the going concern of the entity due to its net current liabilities position. The negative balance is caused by participator loans which the directors and shareholders have confirmed that they will not seek repayment of until the company is in a position to do so.

The accounts have therefore been prepared under the going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable in respect of rental income in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

James Raymond Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Investment property

Land and buildings are classified as investment property when the property is held to earn rentals or for capital appreciation or both. Investment property is initially measured at cost which comprises purchase price and any directly attributable expenditure, and subsequently measured to fair value at each reporting date with changes in value reognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 2 (2023 - 2).

 

James Raymond Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Investment properties

2024
£

At 1 May

642,662

Disposals

(115,000)

At 30 April

527,662

The directors consider the properties to be held at fair value.

5

Debtors

2024
£

2023
£

Prepayments

652

707

Accrued income

600

1,730

Deferred tax assets

942

-

2,194

2,437

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Taxation and social security

 

5,206

204

Accruals and deferred income

 

3,685

4,635

Other borrowings

7

339,915

339,915

 

348,806

344,754

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

174,600

279,600

Current loans and borrowings

2024
£

2023
£

Other borrowings

339,915

339,915

Bank borrowings are secured over the assets to which they relate via a fixed and floating charge. Other borrowings relate to unsecured balances due to other related parties.

 

James Raymond Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

8

Related party transactions

Other transactions with Directors

At the year end, the company owed the directors £213,036 (2023: £13,036). This amount is unsecured, interest free and repayable on demand.

Summary of transactions with other related parties

At the year end, the company owed the other related parties £126,879 (2023: £326,879). This amount is unsecured, interest free and repayable on demand.