Ian Johnson Developments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07059649 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

IAN JOHNSON DEVELOPMENTS LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Investment property

4

836,489

870,342

CURRENT ASSETS

Stocks

515,662

514,933

Debtors

5

37,395

90,865

Cash at bank

534,811

333,475

1,087,868

939,273

CREDITORS

Amounts falling due within one year

6

96,641

84,935

NET CURRENT ASSETS

991,227

854,338

TOTAL ASSETS LESS CURRENT LIABILITIES

1,827,716

1,724,680

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,827,616

1,724,580

SHAREHOLDERS' FUNDS

1,827,716

1,724,680

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 November 2021 and were signed by:

I Johnson - Director

1.	STATUTORY INFORMATION

Ian Johnson Developments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

07059649

Registered office:

Emerald Way

Stone Business Park

Stone

Staffordshire

ST15 0SR

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 gross rents received. Turnover is recognised when the recovery of the consideration is probable and the amount of revenue can be measured reliably.

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.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 1 (2020 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2020

1,005,151

Disposals

(17,450

)

At 31 March 2021

987,701

DEPRECIATION

At 1 April 2020

134,809

Charge for year

16,403

At 31 March 2021

151,212

NET BOOK VALUE

At 31 March 2021

836,489

At 31 March 2020

870,342

Investment properties were valued by the director on 31 March 2021.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

20,538

71,515

Other debtors

16,857

19,350

37,395

90,865

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

-

379

Taxation and social security

41,484

29,474

Other creditors

55,157

55,082

96,641

84,935

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2021 and 31 March 2020:

2021

2020

£

£

I Johnson

Balance outstanding at start of year

16,011

28,187

Amounts advanced

37,071

31,100

Amounts repaid

(38,025

)

(43,276

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

15,057

16,011