James Raymond Homes Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 09536864 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2017

FOR

JAMES RAYMOND HOMES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Dr A Raymond

L C Raymond

REGISTERED OFFICE:

C/O Graybrowne

The Counting House

13 Nelson Street

Hull

East Yorkshire

HU1 1XE

REGISTERED NUMBER:

09536864 (England and Wales)

ACCOUNTANTS:

Graybrowne Limited

Chartered Accountants

The Counting House

Nelson Street

Hull

East Yorkshire

HU1 1XE

FIXED ASSETS

Investment property

4

409,596

288,595

CURRENT ASSETS

Debtors

5

-

6,091

Cash at bank

960

12,526

960

18,617

CREDITORS

Amounts falling due within one year

6

298,571

240,054

NET CURRENT LIABILITIES

(297,611

)

(221,437

)

TOTAL ASSETS LESS CURRENT LIABILITIES

111,985

67,158

CREDITORS

Amounts falling due after more than one year

7

117,600

72,600

NET LIABILITIES

(5,615

)

(5,442

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(5,715

)

(5,542

)

SHAREHOLDERS' FUNDS

(5,615

)

(5,442

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2017 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 13 December 2017 and were signed on its behalf by:

Dr A Raymond - Director

1.	STATUTORY INFORMATION

James Raymond Homes 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 the provisions of Section 1A "Small Entities"

of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of

Ireland" and Companies Act 2006. There were no material departures from that standard. The financial

statements have been prepared under the historical cost convention.

This is the first year in which the financial statements have been prepared under FRS 102 Section 1A small

entities.

Going concern

The financial statements have been prepared on the going concern basis as the director has indicated his

willingness to continue to support the company.

Turnover

Turnover represents rental income receivable.

Investment property

Land and buildings are classified as investment property when the property is held to earn rentals or for capital

appreciation or both. Investment property is initially measured at cost which comprises purchase price and any

directly attributable expenditure, and subsequently remeasured to fair value at each reporting date with changes

in fair value recognised in profit or loss.

No depreciation is provided on investment properties which is a departure from the requirements of the

Companies Act 2006. In the opinion of the director these properties are held primarily for their investment

potential and so their current value is of more significance than any measure of consumption and to depreciate

them would not give a true and fair view. The provisions of the Section 1A "Small Entities" of Financial

Reporting Standard 102 in respect of investment properties have therefore been adopted in order to give a true

and fair view. If this departure from the Act had not been made, the profit for the year would have been reduced

by depreciation.

Financial instruments

Basic financial instruments are recognised at amortised cost, with changes recognised in profit or loss. Derivative

financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or

loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account,

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.

Revision of comparative

The balance sheet has been revised for 2016 to give more meaningful analysis. The effect of these revisions is to

increase debtors by £36, reduce cash at bank by £100, and reduce amounts falling due within one year by £64.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL.

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2016

288,595

Additions

121,001

At 30 April 2017

409,596

NET BOOK VALUE

At 30 April 2017

409,596

At 30 April 2016

288,595

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Other debtors

-

6,091

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Trade creditors

-

337

Other creditors

298,571

239,717

298,571

240,054

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.17

30.4.16

£

£

Bank loans

117,600

72,600

8.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.17

30.4.16

£

£

Bank loans

117,600

72,600

The bank loans are secured by fixed and floating charges over the assets of the company.

9.	RELATED PARTY DISCLOSURES

At the year end, the company owed the directors £263,036 (2016 : £238,036) in respect of a current account

balance. Loans made to the company by the directors are unsecured, interest free and repayable on demand.

At the year end, the company owed owners holding a participating interest £33,659 (2016: £Nil) in respect of a

loan account balance. Loans made to the company by owners holding a participating interest are unsecured,

interest free and repayable on demand.

10.	FIRST YEAR ADOPTION

This is the first financial year that the company has presented its financial statements in accordance with FRS

102 'The Financial Reporting Framework Applicable in the UK and Republic of Ireland' ('FRS 102'). For

financial years up to and including the year ending 30th April 2016, the company prepared its financial

statements in accordance with old UK GAAP.

The company's date of transition to FRS 102 is therefore 1 May 2015. This note sets out the changes to

accounting policies and the transitional adjustments that are required to be made for first-time transition to FRS

102. The company's opening equity position at 1 May 2015 and its previously published financial statements for

the year ended 30 April 2016 have been restated from old UK GAAP.

In carrying out the transition to FRS 102, the company has not applied any of the optional exemptions as

permitted by section 35 Transition to this FRS.

Transitional adjustments

There have been no transitional adjustments that would require consequential equity or profit and loss movement

therefore the reconciliation of equity and reconciliation of profit have not been disclosed in the accounts.