James Laurence Limited - Accounts to registrar (filleted) - small 22.3
James Laurence Limited - Accounts to registrar (filleted) - small 22.3
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 |
FOR |
JAMES LAURENCE LIMITED |
JAMES LAURENCE LIMITED (REGISTERED NUMBER: 04105682) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 March 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
JAMES LAURENCE LIMITED |
COMPANY INFORMATION |
for the Year Ended 31 March 2022 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
10 London Mews |
London |
W21HY |
JAMES LAURENCE LIMITED (REGISTERED NUMBER: 04105682) |
BALANCE SHEET |
31 March 2022 |
31.3.22 | 31.3.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Capital redemption reserve |
Retained earnings |
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. |
JAMES LAURENCE LIMITED (REGISTERED NUMBER: 04105682) |
BALANCE SHEET - continued |
31 March 2022 |
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 |
JAMES LAURENCE LIMITED (REGISTERED NUMBER: 04105682) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 March 2022 |
1. | STATUTORY INFORMATION |
James Laurence Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
After reviewing the company's forecasts and projections, the directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements. |
However due to the uncertainty surrounding the Covid-19 virus at the time of approval of these accounts the directors believe it is difficult to establish the long term impact this may have on the business. |
Turnover |
Turnover represents rents receivable on properties. |
Investment property |
In accordance with FRS102, Section 1A, the company's properties are held for long-term investment and are included in the Balance Sheet at their open market values. The surplus or deficit on annual revaluation of such properties are transferred to the profit and loss account. |
Financial instruments |
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors and loans to related parties. |
The basic financial debtors and liabilities as listed above are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future payments / receipts discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment. An impairment review is undertaken annually at the balance sheet date. |
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. |
JAMES LAURENCE LIMITED (REGISTERED NUMBER: 04105682) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2022 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2021 |
and 31 March 2022 |
NET BOOK VALUE |
At 31 March 2022 |
At 31 March 2021 |
Fair value at 31 March 2022 is represented by: |
£ |
Valuation in 2008 | 2,109,490 |
Valuation in 2010 | 1,077,450 |
Valuation in 2011 | (93,863 | ) |
Valuation in 2012 | 45,000 |
Valuation in 2013 | (311,287 | ) |
Valuation in 2014 | (40,700 | ) |
Valuation in 2015 | (1,050,095 | ) |
Valuation in 2017 | 340,000 |
Valuation in 2018 | (556,572 | ) |
Valuation in 2019 | (229,672 | ) |
Cost | 865,249 |
2,155,000 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.22 | 31.3.21 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.22 | 31.3.21 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.22 | 31.3.21 |
£ | £ |
Bank loans |
JAMES LAURENCE LIMITED (REGISTERED NUMBER: 04105682) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2022 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
31.3.22 | 31.3.21 |
£ | £ |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.3.22 | 31.3.21 |
£ | £ |
Bank loans |
Newcastle Building Society hold legal charges over the various properties held by the company. |
9. | CALLED UP SHARE CAPITAL |
Allotted and issued: |
Number: | Class: | Nominal | 31.3.22 | 31.3.21 |
value: | £ | £ |
Ordinary | £1 | 134 | 200 |
(31.3.21 - 200 ) |
10. | RELATED PARTY DISCLOSURES |
At the balance sheet date the company was owed £521,728 (2021 £650,284) by Thameway Ltd, £Nil (2021 £126) by JNR Properties LLP, £Nil (2021 £126) by JIN Properties LLP, £689,751 (2021 £689,877) by Metro Lettings and Management LLP, £Nil (2021 £126) by ALdwick Road LLP, £3,336 (2021 £3,120) by James Laurence Middlegap Limited, £Nil (2021 £17,872) by Reydene Ltd, £34,000 (2021 £34,126) by Sands Realty Ltd, £68,474 (2021 £55,342) by Metamorph Management Limited and £68,690 (2021 £55,342) by James L J Limited, which are included in other debtors. The directors of the company have interests in these companies and LLPs. |
At the balance sheet date the company owed £2,568 (2021 £2,442) to Hanover Square LLP which is included in other creditors.The directors of the company have an interest in this LLP. |
During the year the company paid management fees of £2,615 (2021 £2,951) to Metamorph Management Limited and £2,615 (2021 £2,951) to James L J Limited. The directors have an interest in these companies. |