ACCOUNTS - Final Accounts preparation

CJ GLOUCESTER ROAD LIMITED - Company Information

Caseware UK (AP4) 2016.0.181 2016.0.181 2016-12-312016-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueReal Estate Agenciesfalse2016-01-01 04761165 2016-01-01 2016-12-31 04761165 2015-01-01 2015-12-31 04761165 2016-12-31 04761165 2015-12-31 04761165 c:Director1 2016-01-01 2016-12-31 04761165 d:Buildings 2016-12-31 04761165 d:Buildings 2015-12-31 04761165 d:Buildings d:OwnedOrFreeholdAssets 2016-01-01 2016-12-31 04761165 d:Buildings d:LongLeaseholdAssets 2016-01-01 2016-12-31 04761165 d:Buildings d:LongLeaseholdAssets 2016-12-31 04761165 d:Buildings d:LongLeaseholdAssets 2015-12-31 04761165 d:LandBuildings 2016-12-31 04761165 d:LandBuildings 2015-12-31 04761165 d:MotorVehicles 2016-01-01 2016-12-31 04761165 d:FurnitureFittings 2016-01-01 2016-12-31 04761165 d:OfficeEquipment 2016-01-01 2016-12-31 04761165 d:ComputerEquipment 2016-01-01 2016-12-31 04761165 d:OtherPropertyPlantEquipment 2016-01-01 2016-12-31 04761165 d:OtherPropertyPlantEquipment 2016-12-31 04761165 d:OtherPropertyPlantEquipment 2015-12-31 04761165 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2016-01-01 2016-12-31 04761165 d:OwnedOrFreeholdAssets 2016-01-01 2016-12-31 04761165 d:Non-currentFinancialInstruments d:UnlistedNon-exchangeTraded 2016-12-31 04761165 d:Non-currentFinancialInstruments d:UnlistedNon-exchangeTraded 2015-12-31 04761165 d:CurrentFinancialInstruments 2016-12-31 04761165 d:CurrentFinancialInstruments 2015-12-31 04761165 d:CurrentFinancialInstruments d:WithinOneYear 2016-12-31 04761165 d:CurrentFinancialInstruments d:WithinOneYear 2015-12-31 04761165 d:ShareCapital 2016-12-31 04761165 d:ShareCapital 2015-12-31 04761165 d:RetainedEarningsAccumulatedLosses 2016-12-31 04761165 d:RetainedEarningsAccumulatedLosses 2015-12-31 04761165 c:FRS102 2016-01-01 2016-12-31 04761165 c:AuditExempt-NoAccountantsReport 2016-01-01 2016-12-31 04761165 c:FullAccounts 2016-01-01 2016-12-31 04761165 c:PrivateLimitedCompanyLtd 2016-01-01 2016-12-31 iso4217:GBP xbrli:pure

Registered number: 04761165

CJ GLOUCESTER ROAD LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016


CJ GLOUCESTER ROAD LIMITED REGISTERED NUMBER:04761165

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2016

		2016		2015
Note		£		£

Fixed assets
Tangible assets	4		172,703		165,572
Investments	5		1		1
			172,704		165,573
Current assets
Debtors: amounts falling due within one year	6	203,625		139,861
Cash at bank and in hand	7	119,347		111,377
		322,972		251,238
Creditors: amounts falling due within one year	8	(320,908)		(275,717)
Net current assets/(liabilities)			2,064		(24,479)
Total assets less current liabilities			174,768		141,094
Provisions for liabilities
Deferred tax		(15,912)		(11,243)
			(15,912)		(11,243)
Net assets			158,856		129,851

Capital and reserves
Called up share capital	100	100
Profit and loss account	158,756	129,751
	158,856	129,851

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:


CJ GLOUCESTER ROAD LIMITED REGISTERED NUMBER:04761165

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2016

................................................

C E Hill

Director

Date: 17 September 2017

The notes on pages 3 to 8 form part of these financial statements.


CJ GLOUCESTER ROAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

1.	General information

C J Gloucester Road Limited is a private company, limited by shares, registered in England and Wales, registration number 04761165. The registered office address is 108 Henleaze Road, Henleaze, Bristol, BS9 4JZ.

The principal activity of the company continued to be that of the operation of a CJ Hole estate agents franchise.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.


CJ GLOUCESTER ROAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

2.Accounting policies (continued)

2.3

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either straight line or reducing balance method.

Depreciation is provided on the following basis:

L/Term Leasehold Property	-	In equal instalments over the term of the lease
Motor vehicles	-	25% straight line
Fixtures and fittings	-	15% reducing balance
Office equipment	-	15% reducing balance
Computer equipment	-	25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.

2.4

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

2.5

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.7

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.8

Finance costs

Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.


CJ GLOUCESTER ROAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

2.Accounting policies (continued)

2.9

Interest income

Interest income is recognised in the Statement of comprehensive income using the effective interest method.

2.10

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of comprehensive income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Statement of financial position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

2.11

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of financial position date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Employees

The average monthly number of employees, including directors, during the year was 27 (2015 - 27).


CJ GLOUCESTER ROAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

4.	Tangible fixed assets

	Land and buildings	Other fixed assets	Total
	£	£	£
Cost or valuation
At 1 January 2016	132,480	241,094	373,574
Additions	-	45,732	45,732
Disposals	-	(37,572)	(37,572)
At 31 December 2016	132,480	249,254	381,734
Depreciation
At 1 January 2016	55,668	152,334	208,002
Charge for the year on owned assets	6,038	26,602	32,640
Disposals	-	(31,611)	(31,611)
At 31 December 2016	61,706	147,325	209,031
Net book value
At 31 December 2016	70,774	101,929	172,703
At 31 December 2015	76,812	88,760	165,572

The net book value of land and buildings may be further analysed as follows:
	2016	2015
	£	£

Long leasehold	70,774	76,812
	70,774	76,812


CJ GLOUCESTER ROAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

5.	Fixed asset investments

		Unlisted investments
		£
	Cost or valuation
	At 1 January 2016	1
	At 31 December 2016	1

	Net book value
	At 31 December 2016	1
	At 31 December 2015	1

Debtors

					2016	2015
					£	£


Trade debtors	6,848	32,719
Other debtors	179,141	102,497
Prepayments and accrued income	17,636	4,645
	203,625	139,861

7.	Cash and cash equivalents
		2016	2015
		£	£

Cash at bank and in hand	119,347	111,377
	119,347	111,377

Included in the cash at bank and in hand balance is £87,461 (2015: £88,606) which relates to monies held on behalf of clients. A corresponding liability is included within other creditors of £69,277 (2015: £88,606) denoting that these funds are due to third parties.


CJ GLOUCESTER ROAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

8.	Creditors: Amounts falling due within one year
		2016	2015
		£	£

Trade creditors	28,349	13,895
Corporation tax	14,352	29,867
Other taxation and social security	45,958	44,810
Other creditors	204,839	171,066
Accruals and deferred income	27,410	16,079
	320,908	275,717

9.	First time adoption of FRS 102 The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or profit or loss.