Paul Jackson New Homes Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03363374 (England and Wales)

PAUL JACKSON NEW HOMES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P Jackson

J Jackson

SECRETARY:

P Jackson

REGISTERED OFFICE:

Rockmount

Dark Lane

Kinver

Stourbridge

West Midlands

DY7 6JA

REGISTERED NUMBER:

03363374 (England and Wales)

BANKERS:

National Westminister Bank

3 Church Street

Oldbury

West Midlands

B69 3ND

SOLICITORS:

Silks

368 High Street

Smethwick

Warley

West Midlands

B66 3PG

FIXED ASSETS

Tangible assets

4

8,718

10,342

Investment property

5

1,300,000

1,308,718

1,310,342

CURRENT ASSETS

Debtors

6

1,919

3,401

Cash at bank

39,774

27,829

41,693

31,230

CREDITORS

Amounts falling due within one year

7

339,936

339,011

NET CURRENT LIABILITIES

(298,243

)

(307,781

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,010,475

1,002,561

PROVISIONS FOR LIABILITIES

148,006

132,426

NET ASSETS

862,469

870,135

CAPITAL AND RESERVES

Called up share capital

8

2

Fair value reserve

817,206

832,786

Retained earnings

45,261

37,347

SHAREHOLDERS' FUNDS

862,469

870,135

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2020 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.

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 16 December 2020 and were signed on its behalf by:

P Jackson - Director

1.	STATUTORY INFORMATION

Paul Jackson New Homes 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.

The presentation currency of the financial statements is the Pound Sterling (£).

The financial statements are rounded to the nearest £.

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.

The directors have agreed to continue to support the business for the foreseeable future to ensure it meets its financial liabilities as they fall due hence the accounts have been prepared on a going concern basis.

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.

Plant and machinery etc

-

25% on reducing balance, 15% on reducing balance and Straight line over 3 years

Government grants

Government grants in relation to Coronavirus are recognised in the profit and loss account when the relevant income has been received.

Investment property

Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in the income statement. Deferred tax is provided on gains at the rate expected to apply when the property is sold.

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 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2019

and 30 April 2020

84,706

DEPRECIATION

At 1 May 2019

74,364

Charge for year

1,624

At 30 April 2020

75,988

NET BOOK VALUE

At 30 April 2020

8,718

At 30 April 2019

10,342

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2019

and 30 April 2020

1,300,000

NET BOOK VALUE

At 30 April 2020

1,300,000

At 30 April 2019

1,300,000

Fair value at 30 April 2020 is represented by:

£

Valuation in 2020

1,300,000

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

2020

2019

£

Cost

334,788

Investment property was valued on open market basis on 30 April 2020 by the director .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

Other debtors

1,919

3,401

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

Taxation and social security

30,441

38,051

Other creditors

309,495

300,960

339,936

339,011

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

2

Ordinary

£1

2

9.	RELATED PARTY DISCLOSURES

Creditors includes £92,601 (2019 £97,601) owed by the company to Paul Jackson Surveyors Limited, a company controlled by the directors.

10.	POST BALANCE SHEET EVENTS

As a result of the Covid 19 pandemic, the business activity has been impacted. Trade has recommenced but on a reduced level of activity. During the closure, the company was able to access various government grants.

Although the total impact of the pandemic remains uncertain the directors are optimistic that business activity will recover in the medium term.

Paul Jackson New Homes Limited - Accounts to registrar (filleted) - small 18.2

Paul Jackson New Homes Limited - Accounts to registrar (filleted) - small 18.2