JCB Estates 41 Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07030264 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2018

for

JCB Estates 41 Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J C Bromhead

REGISTERED OFFICE:

Hill End Farm

Monk Sherborne

Tadley

Hampshire

RG26 5HB

REGISTERED NUMBER:

07030264 (England and Wales)

ACCOUNTANTS:

Lane Monnington Welton

Chartered Accountants

Riverside View

Basing Road

Old Basing

Basingstoke

Hampshire

RG24 7AL

FIXED ASSETS

Tangible assets

3

24,939

28,472

Investment property

4

2,250,000

1,218,041

2,274,939

1,246,513

CURRENT ASSETS

Debtors

5

8,059

7,121

Cash at bank

105

55

8,164

7,176

CREDITORS

Amounts falling due within one year

6

737,808

742,145

NET CURRENT LIABILITIES

(729,644

)

(734,969

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,545,295

511,544

CREDITORS

Amounts falling due after more than one year

7

(379,887

)

(404,869

)

PROVISIONS FOR LIABILITIES

9

(142,525

)

(1,002

)

NET ASSETS

1,022,883

105,673

CAPITAL AND RESERVES

Called up share capital

10

100

100

Fair value reserve

11

890,071

-

Retained earnings

132,712

105,573

SHAREHOLDERS' FUNDS

1,022,883

105,673

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 22 November 2018 and were signed by:

J C Bromhead - Director

1.	STATUTORY INFORMATION

JCB Estates 41 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.

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 the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

The turnover shown in the profit and loss account represents amounts receivable during the year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Fixtures & equipment

-

33% on reducing balance

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.

Financial instruments

Debtors and creditors payable/receivable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are

recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss

account in other administrative expenses.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price, including transaction costs.

Subsequently they are measured at amortised cost using the effective interest rate method, less

impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

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, adjusted for indexation where applicable.

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.

Impairment

Assets not measured at fair value are reviewed for any indication that an asset may be impaired at

each balance sheet date. The directors review the carrying amount of the relevant assets and compare

them to their market values and recoverable amounts. Where the carrying amount exceeds this, an

impairment loss is recognised in profit or loss, unless the asset is carried at a revalued amount, where

the impairment loss is a revaluation decrease.

3.	TANGIBLE FIXED ASSETS

Plant and

Fixtures

machinery

& equipment

Totals

£

£

£

COST

At 1 April 2017

63,441

749

64,190

Additions

-

1,128

1,128

At 31 March 2018

63,441

1,877

65,318

DEPRECIATION

At 1 April 2017

35,070

648

35,718

Charge for year

4,256

405

4,661

At 31 March 2018

39,326

1,053

40,379

NET BOOK VALUE

At 31 March 2018

24,115

824

24,939

At 31 March 2017

28,371

101

28,472

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2017

1,218,041

Revaluations

1,031,959

At 31 March 2018

2,250,000

NET BOOK VALUE

At 31 March 2018

2,250,000

At 31 March 2017

1,218,041

Fair value at 31 March 2018 is represented by:

£

Valuation in 2018

2,250,000

The director believes the investment property is shown at market value.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade debtors

5,600

5,530

Other debtors

2,459

1,591

8,059

7,121

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Taxation and social security

7,376

7,154

Other creditors

730,432

734,991

737,808

742,145

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.18

31.3.17

£

£

Bank loans

379,887

404,869

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.18

31.3.17

£

£

Bank loans

379,887

404,869

The bank loans are secured on Timberley Farmhouse, The Granary, the cattle barn and the solar

panels.

9.	PROVISIONS FOR LIABILITIES

31.3.18

31.3.17

£

£

Deferred tax

142,525

1,002

Deferred

tax

£

Balance at 1 April 2017

1,002

Accelerated capital allowances

(365

)

Revalue investment property

141,888

Balance at 31 March 2018

142,525

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.18

31.3.17

value:

£

£

100

Ordinary

£1

100

100

11.

RESERVES

Fair

value

reserve

£

Revalue investment property

890,071

At 31 March 2018

890,071