REGISTERED NUMBER: 00768485 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

J. T. Elvin Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

J M Elvin

SECRETARY:

A G Chittock

REGISTERED OFFICE:

12 Unity Street

Ipswich

Suffolk

IP3 0AP

REGISTERED NUMBER:

00768485 (England and Wales)

ACCOUNTANTS:

Knights Lowe Ltd

Chartered Accountants

Crane Court

302 London Road

Ipswich

Suffolk

IP2 0AJ

FIXED ASSETS

Tangible assets

4

16,818

23,746

Investment property

5

1,160,000

1,160,000

1,176,818

1,183,746

CURRENT ASSETS

Stocks

7,700

9,200

Debtors

6

2,718

1,800

Cash at bank and in hand

688,466

596,776

698,884

607,776

CREDITORS

Amounts falling due within one year

7

44,054

37,767

NET CURRENT ASSETS

654,830

570,009

TOTAL ASSETS LESS CURRENT LIABILITIES

1,831,648

1,753,755

PROVISIONS FOR LIABILITIES

8

154,060

154,761

NET ASSETS

1,677,588

1,598,994

CAPITAL AND RESERVES

Called up share capital

9

200

100

Fair value reserve

575,322

575,322

Retained earnings

1,102,066

1,023,572

SHAREHOLDERS' FUNDS

1,677,588

1,598,994

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 September 2025 and were signed by:

J M Elvin - Director

1.	STATUTORY INFORMATION

J. T. Elvin 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold improvements

-

10 years straight line

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Office equipment

-

25% on reducing balance

Investment properties

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like accounts receivable and payable, bank facilities and loans from related parties.

Debt instruments that are payable or receivable within one year are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. Debt instruments that are payable or receivable after one year are initially measured at the present value of the future cash flows and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each financial year for evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised in the Income Statement.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Leasehold

Plant and

Motor

Office

improvements

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

41,231

46,519

42,648

3,450

133,848

Additions

-

2,255

-

-

2,255

Disposals

-

(621

)

-

-

(621

)

At 31 December 2024

41,231

48,153

42,648

3,450

135,482

DEPRECIATION

At 1 January 2024

37,108

32,226

38,120

2,648

110,102

Charge for year

4,123

3,584

1,132

200

9,039

Eliminated on disposal

-

(477

)

-

-

(477

)

At 31 December 2024

41,231

35,333

39,252

2,848

118,664

NET BOOK VALUE

At 31 December 2024

-

12,820

3,396

602

16,818

At 31 December 2023

4,123

14,293

4,528

802

23,746

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

1,160,000

NET BOOK VALUE

At 31 December 2024

1,160,000

At 31 December 2023

1,160,000

Fair value at 31 December 2024 is represented by:

£

Valuation in 2012

504,972

Valuation in 2016

156,500

Valuation in 2019

(32,500

)

Valuation in 2020

102,205

Cost

428,823

1,160,000

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

2024

2023

£

£

Cost

428,823

428,823

The investment property was valued on an open market basis on 31 December 2024 by the director .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

-

180

Other debtors

2,718

1,620

2,718

1,800

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

3,015

3,090

Taxation and social security

26,180

20,150

Other creditors

14,859

14,527

44,054

37,767

8.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

Accelerated capital allowances

4,205

4,906

Investment property gains

149,855

149,855

154,060

154,761

Deferred

tax

£

Balance at 1 January 2024

154,761

Credit to Income Statement during year

(701

)

Balance at 31 December 2024

154,060

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary A

£1

100

100

100

Ordinary B

£1

100

-

200

100

100 Ordinary B shares of £1 each were allotted and fully paid for cash at par during the year.

The Ordinary B shares issued during the year are non-voting and have no right to appoint or remove directors. On a winding up the Ordinary B shares have a right to capital equal to the value of the company less the value assigned to the Ordinary A shareholders using a set formula.