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Registered number: 10918414










J D PROPERTIES (NORFOLK) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2024

 
J D PROPERTIES (NORFOLK) LIMITED
REGISTERED NUMBER: 10918414

STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
5,627
7,035

  
5,627
7,035

Current assets
  

Stocks
  
3,406
7,805

Debtors: amounts falling due within one year
 5 
6,938
14,351

Cash at bank and in hand
  
4,311
145,340

  
14,655
167,496

Creditors: amounts falling due within one year
 6 
(5,206)
(76,310)

Net current assets
  
 
 
9,449
 
 
91,186

Total assets less current liabilities
  
15,076
98,221

Creditors: amounts falling due after more than one year
 7 
-
(64,916)

Provisions for liabilities
  

Deferred tax
 8 
-
(1,759)

  
 
 
-
 
 
(1,759)

Net assets
  
15,076
31,546


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
14,976
31,446

  
15,076
31,546


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Page 1

 
J D PROPERTIES (NORFOLK) LIMITED
REGISTERED NUMBER: 10918414
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2024

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 6 February 2025.




John Robert Dingle
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
J D PROPERTIES (NORFOLK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

J D Properties (Nofolk) Limited is a private company limited by shares and incorporated in England and Wales, registration number 10918414. The registered office is West Carr Farm, West Carr Road, Attleborough, Norfolk, NR17 1AN.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover represents the value of house sales and other invoiced work excluding Value Added Tax. An open market house sale is recognised on legal completion. 

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
J D PROPERTIES (NORFOLK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

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

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
Reducing balance
Office equipment
-
20%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
J D PROPERTIES (NORFOLK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value. The cost of work in progress and finished houses includes all appropriate production overheads. Net realisable value is based on estimated selling price less the costs of disposal.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less cost to complete and sell. The impairment loss is recognised immediately in the profit or loss. 

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.


3.


Employees

The average mothly number of employees, including directors, during the year was 4 (2023 - 4).

Page 5

 
J D PROPERTIES (NORFOLK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

4.


Tangible fixed assets





Plant and machinery
Office equipment
Total

£
£
£



Cost or valuation


At 1 September 2023
15,216
2,544
17,760



At 31 August 2024

15,216
2,544
17,760



Depreciation


At 1 September 2023
9,160
1,565
10,725


Charge for the year on owned assets
1,212
196
1,408



At 31 August 2024

10,372
1,761
12,133



Net book value



At 31 August 2024
4,844
783
5,627



At 31 August 2023
6,056
979
7,035

Page 6

 
J D PROPERTIES (NORFOLK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

5.


Debtors

2024
2023
£
£


Other debtors
1,676
14,351

Prepayments and accrued income
3,700
-

Deferred taxation
1,562
-

6,938
14,351



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
358
11

Amounts owed to other participating interests
807
62,359

Other taxation and social security
2,041
-

Other creditors
-
10,046

Accruals and deferred income
2,000
3,894

5,206
76,310



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Amounts owed to other participating interests
-
64,916

-
64,916


Page 7

 
J D PROPERTIES (NORFOLK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

8.


Deferred taxation




2024


£






At beginning of year
(1,759)


Charged to profit or loss
3,321



At end of year
1,562

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(1,407)
(1,759)

Tax losses carried forward
2,969
-

1,562
(1,759)

 
Page 8