REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 November 2021 |
for |
JPC Properties (Essex) Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 November 2021 |
for |
JPC Properties (Essex) Ltd |
JPC Properties (Essex) Ltd (Registered number: 11130618) |
Contents of the Financial Statements |
for the Year Ended 30 November 2021 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
JPC Properties (Essex) Ltd |
Company Information |
for the Year Ended 30 November 2021 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
The Old Grange |
Warren Estate |
Lordship Road |
Writtle |
Essex |
CM1 3WT |
JPC Properties (Essex) Ltd (Registered number: 11130618) |
Balance Sheet |
30 November 2021 |
2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
Investment property | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS/(LIABILITIES) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
( |
) |
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. |
JPC Properties (Essex) Ltd (Registered number: 11130618) |
Balance Sheet - continued |
30 November 2021 |
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 and authorised for issue on |
JPC Properties (Essex) Ltd (Registered number: 11130618) |
Notes to the Financial Statements |
for the Year Ended 30 November 2021 |
1. | STATUTORY INFORMATION |
JPC Properties (Essex) Ltd is a |
The company is part of a group. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover represents rents receivable from investment properties owned by the company. Rents receivable are recognised on an accrual basis. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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. |
The investment property held is shown as its fair 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. |
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. |
Debtors |
Short term debtors are measured at transaction price, less any impairment. |
JPC Properties (Essex) Ltd (Registered number: 11130618) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2021 |
2. | ACCOUNTING POLICIES - continued |
Creditors |
Short term creditors are measured at the transaction price. |
Other financial liabilities, including bank loans are also measured at transaction price since the difference between this basis and the amortised cost basis is not material. |
Going concern |
The accounts have been prepared on the going concern basis which assumes the continued support of the |
parent company. The director of the parent has confirmed that this support will continue and believe that no adjustment relating to the company's ability to continue as a going concern need to be made to these financial statements. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 December 2020 |
and 30 November 2021 |
NET BOOK VALUE |
At 30 November 2021 |
At 30 November 2020 |
The investment in group undertakings relates to an investment in JPC Construction Limited, a 100% owned subsidiary. The investment is shown at cost, and the company is incorporated in England and Wales. |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 December 2020 |
Additions |
At 30 November 2021 |
NET BOOK VALUE |
At 30 November 2021 |
At 30 November 2020 |
The director has considered the values of the properties held at the year end, and is confident that the values shown accurately represent fair value. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Other debtors |
JPC Properties (Essex) Ltd (Registered number: 11130618) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2021 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans |
Amounts owed to group undertakings |
Other creditors |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 280,250 | 280,250 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2021 | 2020 |
£ | £ |
Mortgage | 280,250 | 280,250 |
The above debt is secured against the company's investment property, via a charge held by Hinckley & Rugby Building Society, dated 15/09/2020. |