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Company registration number: 00714794
John Lund (Gisburn) Limited
Unaudited filleted financial statements
31 January 2025
John Lund (Gisburn) Limited
Contents
Statement of financial position
Notes to the financial statements
John Lund (Gisburn) Limited
Statement of financial position
31 January 2025
2025 2024
Note £ £ £ £
Fixed assets
Tangible assets 5 30,827 33,056
Investments 6 400,000 400,000
_______ _______
430,827 433,056
Current assets
Stocks 850 850
Debtors 7 12,919 10,153
_______ _______
13,769 11,003
Creditors: amounts falling due
within one year 8 ( 126,397) ( 126,506)
_______ _______
Net current liabilities ( 112,628) ( 115,503)
_______ _______
Total assets less current liabilities 318,199 317,553
Provisions for liabilities ( 31,988) ( 32,157)
_______ _______
Net assets 286,211 285,396
_______ _______
Capital and reserves
Called up share capital 500 500
Revaluation reserve 215,564 215,564
Profit and loss account 70,147 69,332
_______ _______
Shareholders funds 286,211 285,396
_______ _______
For the year ending 31 January 2025 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 08 April 2025 , and are signed on behalf of the board by:
Mr J Lund
Director
Company registration number: 00714794
John Lund (Gisburn) Limited
Notes to the financial statements
Year ended 31 January 2025
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is The Four Columns, Broughton Hall Business Park, Skipton, North Yorkshire, BD23 3AE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.Tax deferred or accelerated is accounted for in respect of all material timing differences, in particular accelerated capital allowances and revaluation gains on investment properties. All deferred tax is charged/(credited) to the Statement of Income and Retained Earnings.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Property improvements - 5 % straight line
Plant and machinery - 10 % reducing balance
Fittings fixtures and equipment - 10 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in a settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.
Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).
5. Tangible assets
Freehold property Plant and machinery Fixtures, fittings and equipment Total
£ £ £ £
Cost
At 1 February 2024 26,767 72,145 12,997 111,909
Additions - 575 - 575
_______ _______ _______ _______
At 31 January 2025 26,767 72,720 12,997 112,484
_______ _______ _______ _______
Depreciation
At 1 February 2024 8,028 58,663 12,162 78,853
Charge for the year 1,338 1,382 84 2,804
_______ _______ _______ _______
At 31 January 2025 9,366 60,045 12,246 81,657
_______ _______ _______ _______
Carrying amount
At 31 January 2025 17,401 12,675 751 30,827
_______ _______ _______ _______
At 31 January 2024 18,739 13,482 835 33,056
_______ _______ _______ _______
6. Investments
Other investments other than loans Total
£ £
Cost
At 1 February 2024 and 31 January 2025 400,000 400,000
_______ _______
Impairment
At 1 February 2024 and 31 January 2025 - -
_______ _______
Carrying amount
At 31 January 2025 400,000 400,000
_______ _______
At 31 January 2024 400,000 400,000
_______ _______
7. Debtors
2025 2024
£ £
Trade debtors 12,142 9,644
Other debtors 777 509
_______ _______
12,919 10,153
_______ _______
8. Creditors: amounts falling due within one year
2025 2024
£ £
Bank loans and overdrafts 3,282 7,300
Trade creditors 5,317 7,627
Corporation tax 7,740 4,766
Social security and other taxes 2,916 2,072
Other creditors 107,142 104,741
_______ _______
126,397 126,506
_______ _______