Company registration number 00716411 (England and Wales)
Ron Jarrett Estates Limited
Unaudited
financial statements
for the year ended 31 May 2024
PAGES FOR FILING WITH REGISTRAR
Ron Jarrett Estates Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 4
Ron Jarrett Estates Limited
Statement Of Financial Position
as at 31 May 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment properties
3
1,800,000
1,800,000
Current assets
Debtors
2,564
6,028
Cash at bank and in hand
281,171
312,069
283,735
318,097
Creditors: amounts falling due within one year
(14,880)
(84,138)
Net current assets
268,855
233,959
Total assets less current liabilities
2,068,855
2,033,959
Provisions for liabilities
(156,443)
(156,443)
Net assets
1,912,412
1,877,516
Capital and reserves
Called up share capital
10,000
10,000
Revaluation reserve
4
1,416,374
1,416,374
Profit and loss reserves
486,038
451,142
Total equity
1,912,412
1,877,516
Ron Jarrett Estates Limited
Statement Of Financial Position (continued)
as at 31 May 2024
- 2 -
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 13 February 2025 and are signed on its behalf by:
L Hourigan
Director
Company Registration No. 00716411
Ron Jarrett Estates Limited
Notes to the financial statements
for the year ended 31 May 2024
- 3 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover represents the total invoice value of rents receivable for the year. Turnover is recognised on an accruals basis in the period to which it relates.
Investment property
Investment property, 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.
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
3
Ron Jarrett Estates Limited
Notes to the financial statements (continued)
for the year ended 31 May 2024
- 4 -
3
Investment property
2024
£
Fair value
At 1 June 2023 and 31 May 2024
1,800,000
The investment properties were revalued on 12 March 2021 at market value. The historic cost of the investment properties at 31 May 2023 was £227,183.
4
Revaluation reserve
2024
2023
£
£
At the beginning of the year
1,416,374
1,591,621
Revaluation
-
(175,247)
At the end of the year
1,416,374
1,416,374
5
Company information
Ron Jarrett Estates Limited is a private company limited by shares incorporated in England and Wales. The registered office is Metic House, Ripley Drive, Normanton, West Yorkshire, WF6 1QT.