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REGISTERED NUMBER: 04350549 (England and Wales)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

FOR

J FRAMPTON PROPERTY DEVELOPMENT LIMITED

J FRAMPTON PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 04350549)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


J FRAMPTON PROPERTY DEVELOPMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2025







DIRECTORS: J Frampton
Mrs A Frampton





SECRETARY: J Frampton





REGISTERED OFFICE: Calf Pen Cottage
Kelloe Hall Farm
Kelloe
Durham
DH6 4PR





REGISTERED NUMBER: 04350549 (England and Wales)





ACCOUNTANTS: RMT Ribchesters
Accountants and Business Advisors
Finchale House
Belmont Business Park
Durham
DH1 1TW

J FRAMPTON PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 04350549)

BALANCE SHEET
31 JANUARY 2025

2025 2024
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 21,739 3,594
Investment property 5 675,000 675,000
696,739 678,594

CURRENT ASSETS
Debtors 6 6,800 8,793
Cash at bank 20,310 40,920
27,110 49,713
CREDITORS
Amounts falling due within one year 7 19,641 59,988
NET CURRENT ASSETS/(LIABILITIES) 7,469 (10,275 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

704,208

668,319

PROVISIONS FOR LIABILITIES 8 75,413 70,877
NET ASSETS 628,795 597,442

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 628,695 597,342
SHAREHOLDERS' FUNDS 628,795 597,442

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

J FRAMPTON PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 04350549)

BALANCE SHEET - continued
31 JANUARY 2025


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 April 2025 and were signed on its behalf by:





J Frampton - Director


J FRAMPTON PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 04350549)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

1. STATUTORY INFORMATION

J Frampton Property Development Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover derives from two principal sources. Income from investment property is recognised once the rent falls due for payment, and income from property maintenance is recognised as work is completed as the
company becomes entitled to that income.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Investment property
Investment property is included at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss, along with the associated deferred tax.

J FRAMPTON PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 04350549)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, other loans, and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

J FRAMPTON PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 04350549)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2024 19,598
Additions 26,789
Disposals (17,330 )
At 31 January 2025 29,057
DEPRECIATION
At 1 February 2024 16,004
Charge for year 5,271
Eliminated on disposal (13,957 )
At 31 January 2025 7,318
NET BOOK VALUE
At 31 January 2025 21,739
At 31 January 2024 3,594

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2024
and 31 January 2025 675,000
NET BOOK VALUE
At 31 January 2025 675,000
At 31 January 2024 675,000

Fair value at 31 January 2025 is represented by:
£   
Valuation in 2025 675,000

If Investment property had not been revalued it would have been included at the following historical cost:

2025 2024
£    £   
Cost 295,099 295,099

Investment property was valued on an open market basis on 31 January 2025 by the directors .

J FRAMPTON PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 04350549)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 5,533 7,515
Other debtors 1,267 1,278
6,800 8,793

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Taxation and social security 4,397 8,419
Other creditors 15,244 51,569
19,641 59,988

8. PROVISIONS FOR LIABILITIES
2025 2024
£    £   
Deferred tax
Other timing differences 69,978 69,978
Accelerated capital allowances 5,435 899
75,413 70,877

Deferred
tax
£   
Balance at 1 February 2024 70,877
Accelerated capital allowances
debit to profit and loss
account 4,536
Charge on deferred tax
due on fair value change
of investment property
Balance at 31 January 2025 75,413

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
100 Ordinary £1 100 100

10. RESERVES

Included within retained earnings is £309,923 (2024: £341,798) of un-distributable reserves. This £309,923 of un-distributable reserves relates to the increase in fair value of the investment properties, less any deferred tax, which under FRS102 are recognised through the profit and loss account.

J FRAMPTON PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 04350549)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025

11. RELATED PARTY DISCLOSURES

During the year the director maintained an interest free loan to the company. The balance outstanding at 31 January 2025 was £9,484 (2024: £45,250).