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Company Registration No. 0679532 (England and Wales)
J G SWIERS (HELPERBY) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2018
PAGES FOR FILING WITH REGISTRAR
J G SWIERS (HELPERBY) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
J G SWIERS (HELPERBY) LIMITED
BALANCE SHEET
AS AT
5 APRIL 2018
05 April 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,583,879
2,520,112
Investment properties
4
205,000
199,800
2,788,879
2,719,912
Current assets
Stocks
199,517
275,440
Debtors
5
53,897
57,914
Cash at bank and in hand
582,714
490,560
836,128
823,914
Creditors: amounts falling due within one year
6
(156,408)
(178,288)
Net current assets
679,720
645,626
Total assets less current liabilities
3,468,599
3,365,538
Creditors: amounts falling due after more than one year
7
(48,000)
(72,000)
Provisions for liabilities
(130,148)
(121,187)
Net assets
3,290,451
3,172,351
Capital and reserves
Called up share capital
8
23,991
23,991
Capital redemption reserve
50,000
50,000
Profit and loss reserves
3,216,460
3,098,360
Total equity
3,290,451
3,172,351

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 5 April 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.

J G SWIERS (HELPERBY) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
5 APRIL 2018
05 April 2018
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 19 December 2018 and are signed on its behalf by:
Mr P J Swiers
Director
Company Registration No. 0679532
J G SWIERS (HELPERBY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2018
- 3 -
1
Accounting policies
Company information

J G Swiers (Helperby) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Moxby Priory Farm, Marton-cum-Moxby, Stillington, York, Y061 1NB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable for goods, services and subsidies net of VAT.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
Nil
Plant and machinery
20% reducing balance
Fixtures, fittings & equipment
10% reducing balance
Property fixtures & fittings
10% reducing balance
Motor vehicles
25% reducing balance
Solar panels
5% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Freehold land and buildings have not been depreciated as the directors consider the market value to be in excess of cost.

J G SWIERS (HELPERBY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2018
1
Accounting policies
(Continued)
- 4 -
1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

 

At each reporting period end date, the company reviews the carrying amounts of its investment properties to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

 

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

1.5
Stocks

Stock is valued at the lower of cost and net realisable value by an independent professional valuer.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 4 (2017 - 5).

J G SWIERS (HELPERBY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2018
- 5 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Quotas
Total
£
£
£
£
Cost
At 6 April 2017
2,147,738
1,114,555
385
3,262,678
Additions
12,731
196,458
-
209,189
Disposals
-
(98,470)
-
(98,470)
At 5 April 2018
2,160,469
1,212,543
385
3,373,397
Depreciation and impairment
At 6 April 2017
131,888
610,679
-
742,567
Depreciation charged in the year
-
96,904
-
96,904
Eliminated in respect of disposals
-
(49,953)
-
(49,953)
At 5 April 2018
131,888
657,630
-
789,518
Carrying amount
At 5 April 2018
2,028,581
554,913
385
2,583,879
At 5 April 2017
2,015,850
503,877
385
2,520,112
4
Investment property
2018
£
Fair value
At 6 April 2017
199,800
Revaluations
5,200
At 5 April 2018
205,000

The fair value of the investment property has been arrived at on the basis of the directors valuation.

5
Debtors
2018
2017
Amounts falling due within one year:
£
£
Trade debtors
46,788
50,378
Other debtors
7,109
7,536
53,897
57,914
J G SWIERS (HELPERBY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2018
- 6 -
6
Creditors: amounts falling due within one year
2018
2017
£
£
Trade creditors
13,154
45,356
Other taxation and social security
19,555
9,329
Other creditors
123,699
123,603
156,408
178,288

Included in other creditors falling due within one year is £24,000 (2017 £24,000) owed to the J G Swiers (Helperby) Limited Directors Supplementary Retirement Scheme.

7
Creditors: amounts falling due after more than one year
2018
2017
£
£
Other creditors
48,000
72,000

Included in creditors falling due after more than one year is £48,000 (2017 £72,000) owed to the J G Swiers (Helperby) Limited Directors Supplementary Retirement Scheme.

8
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
23,991 Ordinary shares of £1 each
23,991
23,991
23,991
23,991
9
Directors' transactions

Included in other creditors is £95,199 (2017 £95,103) owed to the directors of the company.

10
Reconciliations on adoption of FRS 102
Reconciliation of equity
6 April
5 April
2016
2017
Notes
£
£
Equity as reported under previous UK GAAP
2,806,914
3,019,402
Adjustments arising from transition to FRS 102:
Revaluation of investment property
1
152,949
152,949
Equity reported under FRS 102
2,959,863
3,172,351
J G SWIERS (HELPERBY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2018
10
Reconciliations on adoption of FRS 102
(Continued)
- 7 -
Reconciliation of profit for the financial period
2017
£
Profit as reported under previous UK GAAP and under FRS 102
216,988
Revaluation of investment property
1
-
Profit reported under FRS 102
216,988
Notes to reconciliations on adoption of FRS 102
Investment property

Per FRS102 1A investment property was revalued to fair value as at 6 April 2016 as a transitional adjustment. The value of investment property was increased by £178,400. Deferred tax of £25,451 was recognised on the revaluation.

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