Paul Jackson New Homes Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 03363374 (England and Wales)

PAUL JACKSON NEW HOMES LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

P Jackson

J Jackson

SECRETARY:

P Jackson

REGISTERED OFFICE:

Rockmount

Dark Lane

Kinver

Stourbridge

West Midlands

DY7 6JA

REGISTERED NUMBER:

03363374 (England and Wales)

BANKERS:

National Westminister Bank

3 Church Street

Oldbury

West Midlands

B69 3ND

SOLICITORS:

Silks

368 High Street

Smethwick

Warley

West Midlands

B66 3PG

FIXED ASSETS

Tangible assets

2

353,869

427,948

CURRENT ASSETS

Debtors

2,258

873

Cash at bank

2,936

1,954

5,194

2,827

CREDITORS

Amounts falling due within one year

297,400

325,303

NET CURRENT LIABILITIES

(292,206

)

(322,476

)

TOTAL ASSETS LESS CURRENT LIABILITIES

61,663

105,472

CAPITAL AND RESERVES

Called up share capital

3

2

2

Profit and loss account

61,661

105,470

SHAREHOLDERS' FUNDS

61,663

105,472

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 21 January 2015 and were signed on its behalf by:

P Jackson - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

As at 30th April 2014 the company has net current liabilities of £292,206. The directors have agreed to

continue to support the business for the foreseeable future to ensure it meets its financial liabilities as they fall

due hence the accounts have been prepared on a going concern basis.

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Tangible fixed assets

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

Rental equipment

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

Straight line over 3 years

Leasehold depreciation policy

The lease on the land and buildings is for a duration of 149 years. In accordance with SSAP 19 no depreciation is

required to be provided until the lease has twenty years or less to run to date of expiry. Investment properties are

stated at their most recent valuation. Any surplus or deficit on revaluation is carried or charged to a revaluation

reserve. The property has not been revalued in accordance with SSAP 19.

Deferred taxation

Deferred tax arises as a result of including items if income and expenditure in taxation computations in periods

different from those in which they are included in the company's accounts. Deferred tax is provided in full on

timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates

that are expected to apply when the timing differences reverse, based on current tax rates and laws.

Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no

commitment to sell the asset.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2013

484,700

Disposals

(70,231

)

At 30 April 2014

414,469

DEPRECIATION

At 1 May 2013

56,752

Charge for year

3,848

At 30 April 2014

60,600

NET BOOK VALUE

At 30 April 2014

353,869

At 30 April 2013

427,948

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

2

Ordinary

£1

2

2