Jeremy Wetherall Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 12193260 (England and Wales)

JEREMY WETHERALL PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

6 SEPTEMBER 2019 TO 30 SEPTEMBER 2020

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

5

DIRECTOR:

J Wetherall

REGISTERED OFFICE:

Glebe Farm

Ashby De La Launde

Lincoln

United Kingdom

LN4 3JF

REGISTERED NUMBER:

12193260 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

4 Henley Way

Doddington Road

Lincoln

Lincolnshire

LN6 3QR

FIXED ASSETS

Investment property

4

512,183

CURRENT ASSETS

Cash at bank

8,899

CREDITORS

Amounts falling due within one year

5

111,149

NET CURRENT LIABILITIES

(102,250

)

TOTAL ASSETS LESS CURRENT LIABILITIES

409,933

CREDITORS

Amounts falling due after more than one year

6

401,581

NET ASSETS

8,352

CAPITAL AND RESERVES

Called up share capital

8

100

Retained earnings

8,252

SHAREHOLDERS' FUNDS

8,352

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

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 24 March 2021 and were signed by:

J Wetherall - Director

1.	STATUTORY INFORMATION

Jeremy Wetherall Properties 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 (£).

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.

Turnover

Turnover represents property rental income received, excluding value added tax. Income is recognised in the period to which it relates.

Investment property

Investment property is show at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the income statement.

Taxation

Taxation for the period 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 period 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.

Going concern

Following the impact of Covid 19, these accounts have been prepared on a going concern basis, on the

understanding that the directors and shareholders will continue to financially support the company during this

uncertain period.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

512,183

At 30 September 2020

512,183

NET BOOK VALUE

At 30 September 2020

512,183

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Bank loans and overdrafts

32,564

Taxation and social security

4,435

Other creditors

74,150

111,149

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Bank loans

401,581

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years

by instalments

258,985

258,985

7.	SECURED DEBTS

The following secured debts are included within creditors:

£

Bank loans

434,145

Bank borrowings are secured by a fixed charge over the investment property within the company.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

Ordinary

£1

100

100 Ordinary shares of £1 each were allotted and fully paid for cash at par during the period.