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Company Registration No. 13374628 (England and Wales)
Faulkner James Ltd Unaudited accounts for the year ended 31 May 2025
Faulkner James Ltd Unaudited accounts Contents
Page
Statement of financial position
3
Notes to the accounts
4
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Faulkner James Ltd Statement of financial position as at 31 May 2025
2025
2024
Notes
£
£
Fixed assets
Investment property
4
965,000
735,000
Current assets
Cash at bank and in hand
13,266
4,894
Creditors: amounts falling due within one year
5
(268,861)
(227,275)
Net current liabilities
(255,595)
(222,381)
Total assets less current liabilities
709,405
512,619
Creditors: amounts falling due after more than one year
6
(544,002)
(434,210)
Provisions for liabilities
Deferred tax
(34,668)
(18,039)
Net assets
130,735
60,370
Capital and reserves
Called up share capital
2
2
Profit and loss account
130,733
60,368
Shareholders' funds
130,735
60,370
For the year ending 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 December 2025 and were signed on its behalf by
Daniel Wilson Director Company Registration No. 13374628
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Faulkner James Ltd Notes to the Accounts for the year ended 31 May 2025
1
Statutory information
Faulkner James Ltd is a private company, limited by shares, registered in England and Wales, registration number 13374628. The registered office is 9 Westfield Farm, Askham Lane, York, YO24 3HU.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Turnover
Turnover represents amounts receivable in respect of rent.
4
Investment property
2025
£
Fair value at 1 June 2024
735,000
Additions
163,484
Net gain from fair value adjustments
66,516
At 31 May 2025
965,000
The fair value of the investment properties has been arrived at on the basis of a valuation carried out by the directors. The valuations were made on an open market value basis by reference to market evidence of transaction prices for similar properties.
5
Creditors: amounts falling due within one year
2025
2024
£
£
Taxes and social security
4,803
1,467
Other creditors
264,058
225,808
268,861
227,275
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
544,002
434,210
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Faulkner James Ltd Notes to the Accounts for the year ended 31 May 2025
7
Average number of employees
During the year the average number of employees was 2 (2024: 2).
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