| Jamson Estates Limited |
| Notes to the Accounts |
| for the year ended 31 March 2025 |
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| 1 |
Accounting policies |
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Basis of preparation |
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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). |
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Turnover |
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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. |
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Tangible fixed assets |
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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: |
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Plant and machinery |
over 3 -10 years |
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Motor vehicles |
over 5 years |
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Investments |
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Listed investments are measured at fair value. Unlisted 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. |
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Investment property |
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Investment property is property held either to earn rental income or for capital appreciation or both, but not for sale in the ordinary course of business, use in the production or supply of goods or services or for administrative purposes. Investment property is initially measured at cost and subsequently at fair value with any change recognised in the statement of comprehensive income. Deferred tax is provided on gains arising on revaluations at the rate expected to apply when the property is sold. |
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Stocks |
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Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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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. |
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Leased assets |
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A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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| 2 |
Determination of fair value |
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Investment property |
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The company's investment property is a residential dwelling which is valued annually by the directors using their knowledge and experience in the residential property market..
The fair values are based on market values, being the estimated amount for which a property could be exchanged on the date of the valuation between a willing buyer and a willing seller in an arm's length transaction after proper marketing wherein the parties had each acted knowledgeably. |
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| 3 |
Employees |
2025 |
|
2024 |
| Number |
Number |
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Average number of persons employed by the company |
38 |
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39 |
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| 4 |
Tangible fixed assets |
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Plant and machinery etc |
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Motor vehicles |
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Total |
| £ |
£ |
£ |
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Cost |
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At 1 April 2024 |
909,338 |
|
792,236 |
|
1,701,574 |
|
Additions |
77,281 |
|
168,554 |
|
245,835 |
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Disposals |
- |
|
(18,000) |
|
(18,000) |
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At 31 March 2025 |
986,619 |
|
942,790 |
|
1,929,409 |
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Depreciation |
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At 1 April 2024 |
690,643 |
|
502,341 |
|
1,192,984 |
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Charge for the year |
61,111 |
|
90,797 |
|
151,908 |
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On disposals |
- |
|
(7,680) |
|
(7,680) |
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At 31 March 2025 |
751,754 |
|
585,458 |
|
1,337,212 |
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Net book value |
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At 31 March 2025 |
234,865 |
|
357,332 |
|
592,197 |
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At 31 March 2024 |
218,695 |
|
289,895 |
|
508,590 |
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| 5 |
Investment property |
2025 |
|
2024 |
| £ |
£ |
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Fair value |
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At 1 April 2024 |
655,000 |
|
655,000 |
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Additions |
- |
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- |
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Change in fair value |
- |
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- |
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At 31 March 2025 |
655,000 |
|
655,000 |
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Historical cost |
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At 1 April 2024 |
386,996 |
|
386,996 |
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At 31 March 2025 |
386,996 |
|
386,996 |
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Investment property comprises a residential property let on short term assured tenancies for an initial period of six months. Tenancies are either rolled over into tenancies at will on the same terms or are re-negotiated with the tenants. The property is measured at fair value and changes in fair value are recognised in the statement of comprehensive income.. Fair value is determined by the directors. |
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| 6 |
Investments |
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| Other |
| investments |
| £ |
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Cost |
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At 1 April 2024 |
1,365 |
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Revaluation |
536 |
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At 31 March 2025 |
1,901 |
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Historical cost |
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At 1 April 2024 |
1,559 |
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At 31 March 2025 |
1,559 |
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| 7 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
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Trade debtors |
408,203 |
|
261,546 |
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Other debtors |
541,909 |
|
455,730 |
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950,112 |
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717,276 |
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| 8 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
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Bank loans and overdrafts |
9,952 |
|
9,952 |
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Obligations under finance lease and hire purchase contracts |
37,395 |
|
32,501 |
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Trade creditors |
353,509 |
|
252,235 |
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Taxation and social security costs |
10,536 |
|
33,815 |
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Other creditors |
352,898 |
|
211,436 |
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|
764,290 |
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539,939 |
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| 9 |
Creditors: amounts falling due after one year |
2025 |
|
2024 |
| £ |
£ |
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Bank loans |
2,285 |
|
12,488 |
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Obligations under finance lease and hire purchase contracts |
9,542 |
|
27,811 |
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11,827 |
|
40,299 |
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| 10 |
Accruals and deferred income |
2025 |
|
2024 |
| £ |
£ |
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Grants |
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At 1 April 2024 |
4,500 |
|
5,625 |
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Received in year |
- |
|
- |
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Allocated to profit and loss account |
(1,125) |
|
(1,125) |
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At 31 March 2025 |
3,375 |
|
4,500 |
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| 11 |
Revaluation reserve |
2025 |
|
2024 |
| £ |
£ |
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At 1 April 2024 |
201,003 |
|
217,083 |
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Deferred taxation arising on the revaluation of land and buildings |
- |
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(16,080) |
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At 31 March 2025 |
201,003 |
|
201,003 |
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| 12 |
Related party transactions |
2025 |
|
2024 |
| £ |
£ |
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Jamson (Developments) Limited |
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Jamson (Developments) Limited is under the common control of the directors. |
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The company has made an interest free loans to Jamson (Developments) Limited. The loans are repayable on demand and the amount outstanding is included in other debtors. |
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Amount due from the related party |
226,552 |
|
161,552 |
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During the year the company sold goods and services to Jamson (Developments) Limited amounting to £755 and purchased goods from Jamson (Developments) Limited amounting to £45,996. |
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At the year end the amount due from Jamson (Developments) Limited included in trade debtors was |
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359 |
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- |
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RBIS Properties Limited |
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Mr I W L Morris is a director of RBIS Properties Limited. |
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The company has made an interest free loans to RBIS Properties Limited. The loans are repayable on demand and the amount outstanding is included in other debtors. |
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Amount due from the related party |
137,053 |
|
137,053 |
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During the year the company sold goods and services to RBIS Properties Limited amounting to £58,347 and purchased goods from RBIS Properties Limited amounting to £122,944 |
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At the year end the amount due from RBIS Properties Limited included in trade debtors was |
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23,906 |
|
3,667 |
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At the year end the amount due to RBIS Properties Limited included in trade creditors was |
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39,644 |
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10,120 |
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Norman Holdings (West Wales ) Limited |
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Norman Holdings (West Wales) Limited is under the common control of the directors. |
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The company has made an interest free loans to Norman Holdings (West Wales ) Limited. The loans are repayable on demand and the amount outstanding is included in other debtors. |
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Amount due from the Norman Holdings (West Wales) Limited at the year end was |
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70,500 |
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70,500 |
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At the year end the amount due to Norman Holdings (West Wales ) Limited included in trade creditors was |
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- |
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- |
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| 13 |
Controlling party |
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The company is under the ultimate control of the directors by virtue of their shareholdings. |
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| 14 |
Other information |
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Jamson Estates Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is: |
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Ger-Y-Nant |
|
Tresaith |
|
Cardigan |
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SA43 2JN |