ACCOUNTS - Final Accounts preparation

Commitments under operating leases

At 31 December 2017 the company had future minimum lease payments under non-cancellable operating leases as follows:

CJ GLOUCESTER ROAD LIMITED - Company Information

Caseware UK (AP4) 2016.0.208 2016.0.208 2017-12-312017-12-31Interest income is recognised in the Profit and loss account using the effective interest method. Finance costs are charged to the Profit and loss account 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.The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalseoperation of CJ Hole estate agents franchisefalse2017-01-01 04761165 2017-01-01 2017-12-31 04761165 2016-01-01 2016-12-31 04761165 2017-12-31 04761165 2016-12-31 04761165 2016-01-01 04761165 c:Director1 2017-01-01 2017-12-31 04761165 d:Buildings d:LongLeaseholdAssets 2017-01-01 2017-12-31 04761165 d:Buildings d:LongLeaseholdAssets 2017-12-31 04761165 d:Buildings d:LongLeaseholdAssets 2016-12-31 04761165 d:MotorVehicles 2017-01-01 2017-12-31 04761165 d:MotorVehicles 2017-12-31 04761165 d:MotorVehicles 2016-12-31 04761165 d:MotorVehicles d:OwnedOrFreeholdAssets 2017-01-01 2017-12-31 04761165 d:FurnitureFittings 2017-01-01 2017-12-31 04761165 d:FurnitureFittings 2017-12-31 04761165 d:FurnitureFittings 2016-12-31 04761165 d:FurnitureFittings d:OwnedOrFreeholdAssets 2017-01-01 2017-12-31 04761165 d:OfficeEquipment 2017-01-01 2017-12-31 04761165 d:OfficeEquipment 2017-12-31 04761165 d:OfficeEquipment 2016-12-31 04761165 d:OfficeEquipment d:OwnedOrFreeholdAssets 2017-01-01 2017-12-31 04761165 d:ComputerEquipment 2017-01-01 2017-12-31 04761165 d:ComputerEquipment 2017-12-31 04761165 d:ComputerEquipment 2016-12-31 04761165 d:ComputerEquipment d:OwnedOrFreeholdAssets 2017-01-01 2017-12-31 04761165 d:OwnedOrFreeholdAssets 2017-01-01 2017-12-31 04761165 d:Non-currentFinancialInstruments d:UnlistedNon-exchangeTraded 2017-12-31 04761165 d:Non-currentFinancialInstruments d:UnlistedNon-exchangeTraded 2016-12-31 04761165 d:CurrentFinancialInstruments 2017-12-31 04761165 d:CurrentFinancialInstruments 2016-12-31 04761165 d:Non-currentFinancialInstruments 2017-12-31 04761165 d:Non-currentFinancialInstruments 2016-12-31 04761165 d:CurrentFinancialInstruments d:WithinOneYear 2017-12-31 04761165 d:CurrentFinancialInstruments d:WithinOneYear 2016-12-31 04761165 d:ShareCapital 2017-12-31 04761165 d:ShareCapital 2016-12-31 04761165 d:RetainedEarningsAccumulatedLosses 2017-12-31 04761165 d:RetainedEarningsAccumulatedLosses 2016-12-31 04761165 d:AcceleratedTaxDepreciationDeferredTax 2017-12-31 04761165 d:AcceleratedTaxDepreciationDeferredTax 2016-12-31 04761165 d:TaxLossesCarry-forwardsDeferredTax 2017-12-31 04761165 d:OtherDeferredTax 2017-12-31 04761165 c:FRS102 2017-01-01 2017-12-31 04761165 c:AuditExempt-NoAccountantsReport 2017-01-01 2017-12-31 04761165 c:FullAccounts 2017-01-01 2017-12-31 04761165 c:PrivateLimitedCompanyLtd 2017-01-01 2017-12-31 04761165 d:WithinOneYear 2017-12-31 04761165 d:WithinOneYear 2016-12-31 04761165 d:BetweenOneFiveYears 2017-12-31 04761165 d:BetweenOneFiveYears 2016-12-31 04761165 d:MoreThanFiveYears 2017-12-31 04761165 d:MoreThanFiveYears 2016-12-31 iso4217:GBP

Registered number: 04761165

CJ GLOUCESTER ROAD LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017


CJ GLOUCESTER ROAD LIMITED

CONTENTS

	Page
Balance sheet	1 - 2
Notes to the financial statements	3 - 9


CJ GLOUCESTER ROAD LIMITED REGISTERED NUMBER:04761165

BALANCE SHEET

AS AT 31 DECEMBER 2017

		2017		2016
Note		£		£

Fixed assets
Tangible assets	4		183,710		172,702
Investments	5		1		1
			183,711		172,703
Current assets
Debtors: amounts falling due after more than one year	6	3,000		3,000
Debtors: amounts falling due within one year	6	268,084		200,622
Cash at bank and in hand	7	192,069		119,347
		463,153		322,969
Creditors: amounts falling due within one year	8	(388,352)		(320,904)
Net current assets			74,801		2,065
Total assets less current liabilities			258,512		174,768
Provisions for liabilities
Deferred tax	9	(12,280)		(15,912)
			(12,280)		(15,912)
Net assets			246,232		158,856

Capital and reserves
Called up share capital	100	100
Profit and loss account	246,132	158,756
	246,232	158,856


CJ GLOUCESTER ROAD LIMITED REGISTERED NUMBER:04761165

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2017

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 profit and loss account 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:

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

C E Hill

Director

Date: 26 September 2018

The notes on pages 3 to 9 form part of these financial statements.


CJ GLOUCESTER ROAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

1.	General information

CJ 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 trading address is 92-94 Gloucester Road, Bishopston, Bristol, BS7 8BN.

The principal activity of the company continued to be that of the operation of 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 company's functional and presentational currency is pound sterling.

The following principal accounting policies have been applied:

2.2

Revenue

Turnover comprises of revenue recognised by the company in respect of estate agents franchise services supplied during the year, net of Value Added Tax.

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.

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 Profit and loss account.

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 Profit and loss account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.


CJ GLOUCESTER ROAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

2.Accounting policies (continued)

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.

2.7

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and loss account.

2.8

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.

2.9

Finance costs

Finance costs are charged to the Profit and loss account 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.

2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

2.11

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in the Profit and loss account when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

2.12

Interest income

Interest income is recognised in the Profit and loss account using the effective interest method.


CJ GLOUCESTER ROAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

2.Accounting policies (continued)

2.13

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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 corporate tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet 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 Balance sheet 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 balance sheet date.

Employees

The average monthly number of employees, including directors, during the year was 27 (2016 - 27).


CJ GLOUCESTER ROAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

4.	Tangible fixed assets

	L/Term Leasehold Property	Motor vehicles	Fixtures and fittings	Office equipment	Computer equipment	Total
	£	£	£	£	£	£
Cost or valuation
At 1 January 2017	132,480	37,321	148,368	27,686	35,878	381,733
Additions	15,953	25,000	-	5,660	5,728	52,341
Disposals	-	(7,995)	-	-	(16,376)	(24,371)
At 31 December 2017	148,433	54,326	148,368	33,346	25,230	409,703
Depreciation
At 1 January 2017	61,706	13,756	96,306	10,133	27,130	209,031
Charge for the year on owned assets	6,345	14,106	7,911	3,482	5,491	37,335
Disposals	-	(3,998)	-	-	(16,376)	(20,374)
At 31 December 2017	68,051	23,864	104,217	13,615	16,245	225,992
Net book value
At 31 December 2017	80,382	30,462	44,151	19,731	8,985	183,711
At 31 December 2016	70,774	23,565	52,062	17,553	8,748	172,702

The net book value of land and buildings may be further analysed as follows:
	2017	2016
	£	£

	Long leasehold	80,382	70,774


CJ GLOUCESTER ROAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

5.	Fixed asset investments

		Unlisted investments
		£
	Cost or valuation
	At 1 January 2017	1
	At 31 December 2017	1

	Net book value
	At 31 December 2017	1
	At 31 December 2016	1

6.	Debtors
		2017	2016
		£	£

Due after more than one year
Other debtors	3,000	3,000

					2017	2016
					£	£

Due within one year
Trade debtors	27,569	6,848
Other debtors	217,691	176,141
Prepayments and accrued income	22,824	17,633
	268,084	200,622

7.	Cash and cash equivalents
		2017	2016
		£	£

	Cash at bank and in hand	192,069	119,347

Included in the cash at bank and in hand balance is £138,476 (2016 - £87,461) which relates to monies held on behalf of clients. A corresponding liability is included within creditors of £132,568 (2016- £69,277) denoting that these funds are due to third parties.


CJ GLOUCESTER ROAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

8.	Creditors: amounts falling due within one year
		2017	2016
		£	£

Trade creditors	7,545	28,349
Corporation tax	25,815	14,352
Other taxation and social security	64,909	45,958
Other creditors	262,225	204,835
Accruals and deferred income	27,858	27,410
	388,352	320,904

9.	Deferred taxation

	2017	2016
	£	£

At beginning of year	(15,912)	(16,482)
Charged to profit or loss	3,632	570
At end of year	(12,280)	(15,912)

The provision for deferred taxation is made up as follows:
	2017	2016
	£	£

Accelerated capital allowances	(14,053)	(15,912)
Tax losses carried forward	1,667	-
Short term timing difference	106	-
	(12,280)	(15,912)

10.	Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £3,089 (2016 - £Nil). Contributions totalling £622 (2016 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.


CJ GLOUCESTER ROAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

Not later than 1 year	60,000	50,000
Later than 1 year and not later than 5 years	235,918	200,000
Later than 5 years	286,575	336,575
	582,493	586,575

12.	Related party transactions
	As at the balance sheet date, the company owed £127,382 (2016 - £132,199) to the directors. The loan attracts interest at 5% above The Bank of England Base Rate. During the year, dividends amounting to £5,000 (2016 - £Nil) were paid to the directors.