Company registration number 00438124 (England and Wales)
JAMES DREWITT & SON LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
JAMES DREWITT & SON LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
JAMES DREWITT & SON LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
29,361
42,739
Investment properties
5
4,026,723
4,026,723
Investments
6
500
500
4,056,584
4,069,962
Current assets
Debtors
7
115,148
96,677
Investments
8
210,257
200,000
Cash at bank and in hand
289,382
259,749
614,787
556,426
Creditors: amounts falling due within one year
9
(358,193)
(332,792)
Net current assets
256,594
223,634
Total assets less current liabilities
4,313,178
4,293,596
Creditors: amounts falling due after more than one year
10
(227,519)
(274,464)
Provisions for liabilities
(7,340)
(3,732)
Net assets
4,078,319
4,015,400
Capital and reserves
Called up share capital
96,080
96,080
Capital redemption reserve
4,020
4,020
Profit and loss reserves
3,978,219
3,915,300
Total equity
4,078,319
4,015,400

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2025 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 member has 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.

JAMES DREWITT & SON LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2025
31 March 2025
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 27 August 2025 and are signed on its behalf by:
G D Drewitt
Director
Company Registration No. 00438124
JAMES DREWITT & SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Company information

James Drewitt & Son LimitedJAMES DREWITT & SON LIMITED is a private company limited by shares incorporated in England and Wales. The registered office is 865 Ringwood Road, Bournemouth, Dorset, United Kingdom, BH11 8LW.

1.1
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 £.

1.2
Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised.

 

Rendering of services

 

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all the following conditions are satisfied:

1.3
Tangible fixed assets

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

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% on cost

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.

1.4
Investment properties

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.

1.5
Fixed asset investments

Investments in subsidiaries are measured at cost less accumulated impairment.

JAMES DREWITT & SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
1.6
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments
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 the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group, 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.

 

Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

1.8
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 profit and loss account 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.9
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

JAMES DREWITT & SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
3
3
4
Tangible fixed assets
Plant and equipment
£
Cost
At 1 April 2024 and 31 March 2025
182,734
Depreciation and impairment
At 1 April 2024
139,995
Depreciation charged in the year
13,378
At 31 March 2025
153,373
Carrying amount
At 31 March 2025
29,361
At 31 March 2024
42,739
5
Investment property
2025
£
Fair value
At 1 April 2024 and 31 March 2025
4,026,723

The 2018 valuations were made by G Drewitt, a director of the company and a qualified Chartered Surveyor, on an open market value for existing use basis.

 

If the investment properties had been accounted for under the historic cost accounting rules, the properties would have been valued at £3,307,025.

JAMES DREWITT & SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
6
Fixed asset investments
2025
2024
£
£
Other investments other than loans
500
500
7
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
64,732
88,282
Other debtors
50,416
8,395
115,148
96,677
8
Current asset investments
2025
2024
£
£
Other investments
210,257
200,000
9
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
11
28,462
28,462
Trade creditors
55,472
29,574
Amounts owed to group undertakings
18,500
18,500
Corporation tax
30,063
21,100
Other taxation and social security
24,516
24,092
Other creditors
75,029
75,844
Accruals and deferred income
126,151
135,220
358,193
332,792
10
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Bank loans
11
184,519
213,464
Amounts owed to group undertakings
43,000
61,000
227,519
274,464
JAMES DREWITT & SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
11
Loans and overdrafts
2025
2024
£
£
Bank loans
212,981
241,926
Payable within one year
28,462
28,462
Payable after one year
184,519
213,464

 

Outstanding bank loans are secured by a fixed charge over the related freehold properties .

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