JTE (Duffield) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07285929 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2019

for

JTE (Duffield) Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Dr J Ellis

Mrs T Ellis

REGISTERED OFFICE:

43 Derby Road

Duffield

Derbyshire

DE56 4FL

REGISTERED NUMBER:

07285929 (England and Wales)

ACCOUNTANTS:

Bourne & Co.

Chartered Accountants

3 Charnwood Street

Derby

Derbyshire

DE1 2GY

FIXED ASSETS

Tangible assets

4

1,176

1,568

Investment property

5

393,658

386,658

394,834

388,226

CURRENT ASSETS

Debtors

7,132

9,173

Cash at bank

40,783

27,087

47,915

36,260

CREDITORS

Amounts falling due within one year

32,006

29,468

NET CURRENT ASSETS

15,909

6,792

TOTAL ASSETS LESS CURRENT LIABILITIES

410,743

395,018

CREDITORS

Amounts falling due after more than one year

(177,996

)

(180,568

)

PROVISIONS FOR LIABILITIES

(3,034

)

(6,834

)

NET ASSETS

229,713

207,616

CAPITAL AND RESERVES

Called up share capital

7

100

100

Fair value reserve

8

31,971

45,142

Retained earnings

197,642

162,374

SHAREHOLDERS' FUNDS

229,713

207,616

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 June 2019 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 6 March 2020 and were signed on its behalf by:

Dr J Ellis - Director

1.	STATUTORY INFORMATION

JTE (Duffield) Ltd 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.

Fixtures and fittings

-

25% on reducing balance

Investment property

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.

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 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 2 (2018 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2018

and 30 June 2019

4,748

DEPRECIATION

At 1 July 2018

3,180

Charge for year

392

At 30 June 2019

3,572

NET BOOK VALUE

At 30 June 2019

1,176

At 30 June 2018

1,568

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2018

386,658

Additions

27,005

Fair value adjustment

(20,005

)

At 30 June 2019

393,658

NET BOOK VALUE

At 30 June 2019

393,658

At 30 June 2018

386,658

Fair value at 30 June 2019 is represented by:

£

Valuation in 2018

51,976

Valuation in 2019

(20,005

)

Cost

361,687

393,658

If investment properties had not been revalued they would have been included at the following historical cost:

2019

2018

£

£

Cost

361,687

334,682

Investment properties were valued on an open market basis on 30 June 2019 by a director .

6.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank loans

70,011

72,583

Lloyds TSB Bank Plc hold a first legal charge over the investment freehold property.

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

ordinary

£1.00

100

100

8.

RESERVES

Fair

value

reserve

£

At 1 July 2018

45,142

Deferred tax transfer

6,834

Fair value adjustment

(20,005

)

At 30 June 2019

31,971