Registered number
00694343
J. P. Clayton Estate Co. Limited
Filleted Accounts
31 May 2024
J. P. Clayton Estate Co. Limited
Registered number: 00694343
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Investments 4 1,040,000 1,040,000
Current assets
Debtors 5 300 300
Cash at bank and in hand 574,352 652,136
574,652 652,436
Creditors: amounts falling due within one year 6 (538,916) (619,541)
Net current assets 35,736 32,895
Net assets 1,075,736 1,072,895
Capital and reserves
Called up share capital 100 100
Profit and loss account 792,913 1,000,091
Profit and loss account - not distributable 282,723 72,704
Shareholders' funds 1,075,736 1,072,895
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S V Rose
Director
Approved by the board on 11 April 2025
J. P. Clayton Estate Co. Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% straight line
Investments
Property held as investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. Deferred taxation is provided for at 25% as that was the legislated rate at the balance sheet date.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company
including directors 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023 700
At 31 May 2024 700
Depreciation
At 1 June 2023 700
At 31 May 2024 700
Net book value
At 31 May 2024 -
4 Investments
Other
investments
£
Cost
At 1 June 2023 1,040,000
At 31 May 2024 1,040,000
Historical cost
At 1 June 2023 859,863
At 31 May 2024 859,863
5 Debtors 2024 2023
£ £
Other debtors 300 300
6 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 11,714 19,464
Other creditors 527,202 600,077
538,916 619,541
7 Related party transactions
Interest of £22,094 (2023: £24,052) was charged and rolled into a 10 year loan provided by the directors of £343,603, that was advanced to the company in the year ended 31 May 2014. At the year end the loan balance and accrued interest outstanding was £489,489 (2023: £572,395).
8 Other information
J. P. Clayton Estate Co. Limited is a private company limited by shares and incorporated in England. Its registered office is:
11 Patten Road
London
SW18 3RH
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