CJM Pudsey Limited Filleted accounts for Companies House (small and micro)

CJM PUDSEY LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 05485090

CJM PUDSEY LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

30 March 2021

CJM PUDSEY LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 30 MARCH 2021

Contents	Pages

Balance sheet 1

Notes to the financial statements 2 to 5

CJM PUDSEY LIMITED

BALANCE SHEET

30 March 2021

	2021	2020
Note	£	£

Current assets

Debtors	5	119,901	88,695
Investments	6	173,362	103,658
Cash at bank and in hand		368	1,921
		------------	------------
		293,631	194,274

Creditors: amounts falling due within one year	7	( 34,210)	( 22,897)
		------------	------------
Net current assets		259,421	171,377
		------------	------------
Total assets less current liabilities		259,421	171,377

Creditors: amounts falling due after more than one year	8	( 16,667)	–
		------------	------------
Net assets		242,754	171,377
		------------	------------

Capital and reserves

Called up share capital	9	10,000	10,000
Revaluation reserve		40,118	–
Profit and loss account		192,636	161,377
		------------	------------
Shareholders funds		242,754	171,377
		------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.

For the year ending 30 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 7 December 2021 , and are signed on behalf of the board by:

C W Jones

Director

Company registration number: 05485090

CJM PUDSEY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 MARCH 2021

1. General information

The company is a private company limited by shares, registered in England and Wales, company number 05485090 . The address of the registered office is 5 Mill Fold, Addingham, Ilkley, LS29 0SY.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Investments

Investments are stated at cost and are subject to an annual impairment review.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	25% straight line

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Tangible assets

	Equipment	Total
	£	£
Cost
At 31 March 2020 and 30 March 2021	299	299
	------------	------------
Depreciation
At 31 March 2020 and 30 March 2021	299	299
	------------	------------
Carrying amount
At 30 March 2021	–	–
	------------	------------
At 30 March 2020	–	–
	------------	------------

5. Debtors

	2021	2020
	£	£
Trade debtors	3,880	2,930
Directors loan account	87,266	60,709
Amounts recoverable on contracts	–	5,000
Other debtors	28,755	20,056
	------------	------------
	119,901	88,695
	------------	------------

6. Investments

	2021	2020
	£	£
Listed investments	173,362	103,658
	------------	------------

7. Creditors: amounts falling due within one year

	2021	2020
	£	£
Bank loans and overdrafts	3,333	–
Trade creditors	1,380	1,380
Accruals and deferred income	3,698	3,699
Corporation tax	25,799	17,818
	------------	------------
	34,210	22,897
	------------	------------

8. Creditors: amounts falling due after more than one year

	2021	2020
	£	£
Bank loans and overdrafts	16,667	–
	------------	------------

Included within creditors: amounts falling due after more than one year is an amount of £667 (2020: £Nil) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

9. Called up share capital

Issued, called up and fully paid

	2021		2020
	No.	£	No.	£
Ordinary shares of £ 1 each	10,000	10,000	10,000	10,000
	------------	------------	------------	------------

10. Reserves

The profit and loss account balance at 31 March 2021 includes non-distributable unrealised gains (losses) of £40,118 (2020: (£25,804)).

11. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2021
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
C W Jones	60,709	40,194	( 13,637)	87,266
	------------	------------	------------	------------

	2020
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
C W Jones	28,880	66,396	( 34,567)	60,709
	------------	------------	------------	------------

The directors' loan accounts above were unsecured and repayable on demand. Interest has been charged at 2.5% pa.

12. Related party transactions

During the year the company made expenses payments to Tourmalet Consulting, a business in which Mr C W Jones is sole proprietor amounting to £6,281 (2020: £5,800).

13. Controlling party

The company is controlled by Mr C W Jones.