Company No:
Contents
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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Investment property | 4 |
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1,504,699 | 1,505,528 | |||
Current assets | ||||
Debtors | 5 |
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Cash at bank and in hand |
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89,195 | 117,377 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current assets | 83,799 | 103,101 | ||
Total assets less current liabilities | 1,588,498 | 1,608,629 | ||
Provision for liabilities | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital |
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Fair value reserve |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of D B Jones Ltd (registered number:
D B Jones
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
D B Jones Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Leanne House, 6 Avon Close, Weymouth, DT4 9UX, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The company recognises turnover when ;
The amount 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.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.
Fixtures and fittings |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Fixtures and fittings | Total | ||
£ | £ | ||
Cost | |||
At 01 September 2023 |
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At 31 August 2024 |
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Accumulated depreciation | |||
At 01 September 2023 |
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Charge for the financial year |
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At 31 August 2024 |
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Net book value | |||
At 31 August 2024 |
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At 31 August 2023 |
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Investment property | |
£ | |
Valuation | |
As at 01 September 2023 |
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As at 31 August 2024 |
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The investment properties class of fixed asset were valued at 31 August 2024 by Mr D B Jones who is internal to the company. The basis of the valuation was open market value.
The class of asset has a current valuation of £1,500,000 (2023 £1,500,000) and a carrying amount of historical cost of £282,622 (2023 £282,622). The depreciation on this historical cost is £26,150 (2023 £26,150).
There has been no valuation of investment property by an independent valuer.
2024 | 2023 | ||
£ | £ | ||
Other debtors |
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2024 | 2023 | ||
£ | £ | ||
Taxation and social security |
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Other creditors |
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Transactions with the entity's directors
Advances
During the year the directors maintained a loan with the company which is repayable on demand and interest is
charged on overdrawn balances exceeding £10,000 at official HMRC rates.
At 1 September 2023 the balance owing from the directors was £43,426. During the year £46,402 was advanced to the
directors and £48,695 was repaid by the directors. At 31 August 2024 the balance owing from the directors was
£41,133.
At 1 September 2022the balance owing from the directors was £9,795. During the year £71,597 was advanced to the
directors and £37,966 was repaid by the directors. At 31 August 2023 the balance owing from the directors was
£43,426.