Jeffery Lloyd Inventories Limited - Accounts to registrar (filleted) - small 18.2
Jeffery Lloyd Inventories Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Jeffery Lloyd Inventories Limited |
Abridged Unaudited Financial Statements |
for the Year Ended 31 March 2020 |
Jeffery Lloyd Inventories Limited (Registered number: 10888221) |
Contents of the Financial Statements |
for the year ended 31 March 2020 |
Page |
Company Information | 1 |
Chartered Accountants' Report | 2 |
Statement of Financial Position | 3 |
Notes to the Financial Statements | 5 |
Jeffery Lloyd Inventories Limited |
Company Information |
for the year ended 31 March 2020 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
239-241 Kennington Lane |
London |
SE11 5QU |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Jeffery Lloyd Inventories Limited |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Jeffery Lloyd Inventories Limited for the year ended 31 March 2020 which comprise the Abridged Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Jeffery Lloyd Inventories Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Jeffery Lloyd Inventories Limited and state those matters that we have agreed to state to the Board of Directors of Jeffery Lloyd Inventories Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Jeffery Lloyd Inventories Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Jeffery Lloyd Inventories Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Jeffery Lloyd Inventories Limited. You consider that Jeffery Lloyd Inventories Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Jeffery Lloyd Inventories Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants |
239-241 Kennington Lane |
London |
SE11 5QU |
Jeffery Lloyd Inventories Limited (Registered number: 10888221) |
Statement of Financial Position |
31 March 2020 |
2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | 10 | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Retained earnings | 12 |
SHAREHOLDERS' FUNDS |
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. |
Jeffery Lloyd Inventories Limited (Registered number: 10888221) |
Statement of Financial Position - continued |
31 March 2020 |
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 and authorised for issue on |
Jeffery Lloyd Inventories Limited (Registered number: 10888221) |
Notes to the Financial Statements |
for the year ended 31 March 2020 |
1. | STATUTORY INFORMATION |
Jeffery Lloyd Inventories Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover includes revenue earned from investments in properties. The revenue is recognised on an accrual basis in accordance with the tenancy agreement. |
Tangible fixed assets |
Fixtures and fittings | - |
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 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 NIL (2019 - NIL). |
Jeffery Lloyd Inventories Limited (Registered number: 10888221) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2020 |
4. | PROPERTY, PLANT AND EQUIPMENT |
Fixtures |
and |
fittings |
£ |
COST |
Additions |
At 31 March 2020 |
DEPRECIATION |
Charge for year |
At 31 March 2020 |
NET BOOK VALUE |
At 31 March 2020 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2019 |
Additions |
At 31 March 2020 |
NET BOOK VALUE |
At 31 March 2020 |
At 31 March 2019 |
Company directors, as required by FRS 102, revised valuation of all investment properties reported at balance sheet date. Methods used include: using online tools, gather data from nearby neighborhoods on comparable properties sold and checking with high street agents whom have the knowledge and experience of local property market. After assessment, directors concluded that there were no significant movements in the market prices and values are equal to net book values at reporting date. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Taxation and social security |
Other creditors |
Jeffery Lloyd Inventories Limited (Registered number: 10888221) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2020 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2020 | 2019 |
£ | £ |
Other creditors |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Mortgage loans |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2020 | 2019 |
£ | £ |
Mortgages | 338,979 | 202,041 |
Loans are secured on following properties: |
1.Property known as 29 Windsor Close , Windsor Grove, London SE17 9LU by way of floating charge over property to Fleet Mortgages Limited on 13 February 2018. |
2.Property known as Flat 29 Cromarty Court, 126-128 Widmore Road, Bromley, BR1 3BX by way of legal charge over property to West Bromwich Commercial Limited on 2 May 2019. |
10. | PROVISIONS FOR LIABILITIES |
2020 | 2019 |
£ | £ |
Deferred tax | 41 | - |
Deferred |
tax |
£ |
Provided during year |
Balance at 31 March 2020 |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2020 | 2019 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
Jeffery Lloyd Inventories Limited (Registered number: 10888221) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2020 |
12. | RESERVES |
Retained |
earnings |
£ |
At 1 April 2019 |
Profit for the year |
At 31 March 2020 |
13. | RELATED PARTY DISCLOSURES |
Transactions with members of key management personnel |
Loan amounting to £148,731 (2019:£101,465) owed by company at balance sheet date. The loan was advanced to company to acquire investment properties. The loan is interest free, have no fixed date of repayment and presented within creditors:amounts falling due within one year. |
The guarantee was given to company,not to call in their loans to the company within next twelve months from the date of signing the accounts. |