James Trust Limited - Accounts to registrar (filleted) - small 18.2

James Trust Limited - Accounts to registrar (filleted) - small 18.2

JAMES TRUST LIMITED - Company Information

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REGISTERED NUMBER: 00445538 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019

FOR

JAMES TRUST LIMITED
JAMES TRUST LIMITED (REGISTERED NUMBER: 00445538)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JAMES TRUST LIMITED

COMPANY INFORMATION
for the year ended 31 March 2019







DIRECTORS: D L Graham
G J Graham
R A Graham





SECRETARY:





REGISTERED OFFICE: 28 Hereford Road
LONDON
W2 5AJ





REGISTERED NUMBER: 00445538 (England and Wales)





ACCOUNTANTS: Durrants - Calleva
Accountants and Tax Advisors
4 Comet House
Calleva Park
Aldermaston
Berkshire
RG7 8JA
Page 1
JAMES TRUST LIMITED (REGISTERED NUMBER: 00445538)

BALANCE SHEET
31 March 2019

31/3/19 31/3/18
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 3,573,333 3,573,333

CURRENT ASSETS
Debtors 5 5,272 5,029
Cash at bank 34,267 26,325
39,539 31,354
CREDITORS
Amounts falling due within one year 6 169,094 180,749
NET CURRENT LIABILITIES (129,555 ) (149,395 )
TOTAL ASSETS LESS CURRENT LIABILITIES 3,443,778 3,423,938

CREDITORS
Amounts falling due after more than one
year
7
(90,000
)
(180,000
)

PROVISIONS FOR LIABILITIES (242,688 ) (242,688 )
NET ASSETS 3,111,090 3,001,250

CAPITAL AND RESERVES
Called up share capital 51,000 51,000
Fair value reserve 8 970,751 970,751
Retained earnings 2,089,339 1,979,499
SHAREHOLDERS' FUNDS 3,111,090 3,001,250

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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.

The notes form part of these financial statements

Page 2 continued...
JAMES TRUST LIMITED (REGISTERED NUMBER: 00445538)

BALANCE SHEET - continued
31 March 2019


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 on 23 October 2019 and were signed on its behalf
by:





R A Graham - Director


The notes form part of these financial statements

Page 3
JAMES TRUST LIMITED (REGISTERED NUMBER: 00445538)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2019

1. STATUTORY INFORMATION

James Trust 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 represents net invoiced rent, excluding value added tax, from investment properties owned.

Investment property
Investment properties are stated at the most recent valuation.

Myddleton and Major perform a professional valuation at least every 5 years. The Directors perform interim
valuations at every year end in between.

Depreciation is not provided in respect of investment properties.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2018 - 4 ) .

Page 4 continued...
JAMES TRUST LIMITED (REGISTERED NUMBER: 00445538)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2019

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2018
and 31 March 2019 3,573,333
NET BOOK VALUE
At 31 March 2019 3,573,333
At 31 March 2018 3,573,333

Fair value at 31 March 2019 is represented by:

£   
Valuation in 2007 2,096,939
Valuation in 2008 (500,025 )
Valuation in 2009 (383,475 )
Cost 2,359,894
3,573,333

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

31/3/19 31/3/18
£    £   
Cost 2,359,894 2,359,894

Investment property was valued on an open market basis on 31 March 2019 by the Directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/19 31/3/18
£    £   
Trade debtors 5,272 5,029

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/19 31/3/18
£    £   
Tax 48,039 47,573
Social security and other taxes 2,400 2,000
VAT 4,306 5,118
Other creditors 46,875 59,758
Directors' current accounts 60,000 60,000
Accrued expenses 7,474 6,300
169,094 180,749

Page 5 continued...
JAMES TRUST LIMITED (REGISTERED NUMBER: 00445538)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2019

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/3/19 31/3/18
£    £   
Other creditors 30,000 60,000
Directors' loan accounts 60,000 120,000
90,000 180,000

8. RESERVES
Fair
value
reserve
£   
At 1 April 2018
and 31 March 2019 970,751

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Arthur Newbery Limited holds 100% (2018: 100%) of the ordinary share capital of the company. Mr DL
Graham, Mr RA Graham and Mr GJ Graham are directors of both James Trust Limited and Arthur Newbery
Limited. A dividend of £95,000 was paid in the year to Arthur Newbery Limited.

10. RELATED PARTY DISCLOSURES

Included in creditors both current and over 1 years are amounts due to the directors as follows:

G L Graham £60,000 (2018: £90,000)
R A Graham £60,000 (2018: £90,000)

Also included in other creditors is a £60,000 (2018: £90,000) loan from The Hereford Trust for which D L
Graham is a Trustee

Page 6