REGISTERED NUMBER: 04601978 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018

FOR

JAMES SELLICKS ESTATE AGENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C Beretta

J J Cameron

J R Sellicks

SECRETARY:

J R Sellicks

REGISTERED OFFICE:

56 Granby Street

Leicester

Leicestershire

LE1 1DH

REGISTERED NUMBER:

04601978 (England and Wales)

ACCOUNTANTS:

Magma Audit LLP

Unit 2

Charnwood Edge Business Park

Syston Road

Leicester

LE7 4UZ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

8,734

11,312

Investments

6

140

140

8,874

11,452

CURRENT ASSETS

Debtors

7

141,350

151,981

Cash at bank

186,111

167,003

327,461

318,984

CREDITORS

Amounts falling due within one year

8

(28,808

)

(37,085

)

NET CURRENT ASSETS

298,653

281,899

TOTAL ASSETS LESS CURRENT LIABILITIES

307,527

293,351

CAPITAL AND RESERVES

Called up share capital

5,938

5,938

Retained earnings

301,589

287,413

307,527

293,351

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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 29 November 2018 and were signed on its behalf by:

J R Sellicks - Director

1.	STATUTORY INFORMATION

James Sellicks Estate Agents Limited is a limited company, registered in England and Wales. Its registered

office address is 56 Granby Street, Leicester, LE1 1DH and the registered number is 04601978.

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.

Turnover

Turnover represents commissions receivable and for other fees and services net of VAT.

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 10 years.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of

depreciation and any impairment losses.

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.

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 profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an

enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise

the asset and settle the liability simultaneously.

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 tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised

to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other

future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill

or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor

the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that

it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be

recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is

settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it

relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.

Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current

tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax

authority.

Operating leases

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Rentals payable under operating leases, including any lease incentives received, are charged to income on a

straight line basis over the term of the relevant lease except where another more systematic basis is more

representative of the time pattern in which economic benefits from the lease asset are consumed.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the

arrangement constitutes a financing transaction, where the transaction is measured at the present value of the

future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost

using the effective interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and

other short-term highly liquid investments that mature in no more than three months from the date of acquisition

and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related

parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction,

where the debt instrument is measured at the present value of the future payments discounted at a market rate

of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less

any impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2017 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2017

and 31 March 2018

150,000

AMORTISATION

At 1 April 2017

and 31 March 2018

150,000

NET BOOK VALUE

At 31 March 2018

-

At 31 March 2017

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2017

107,867

Additions

333

At 31 March 2018

108,200

DEPRECIATION

At 1 April 2017

96,555

Charge for year

2,911

At 31 March 2018

99,466

NET BOOK VALUE

At 31 March 2018

8,734

At 31 March 2017

11,312

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2017

and 31 March 2018

140

NET BOOK VALUE

At 31 March 2018

140

At 31 March 2017

140

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

17,474

11,338

Amounts owed by participating interests

112,356

120,074

Other debtors

11,520

20,569

141,350

151,981

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

11,129

10,648

Taxation and social security

5,914

16,102

Other creditors

11,765

10,335

28,808

37,085