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REGISTERED NUMBER: SC471747 (Scotland)











Jmps Property Ltd.

Unaudited Financial Statements

for the Year Ended 31 March 2022






Jmps Property Ltd. (Registered number: SC471747)






Contents of the Financial Statements
for the Year Ended 31 March 2022




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


Jmps Property Ltd.

Company Information
for the Year Ended 31 March 2022







Directors: S Couch
Mrs J Mcphail





Registered office: 3 Windsor place
Stirling
Stirlingshire
FK8 2HY





Registered number: SC471747 (Scotland)





Accountants: Warr & Co Limited
Chartered Accountants
Mynshull House
78 Churchgate
Stockport
Cheshire
SK1 1YJ

Jmps Property Ltd. (Registered number: SC471747)

Balance Sheet
31 March 2022

31.3.22 31.3.21
Notes £    £   
Fixed assets
Investment property 4 90,000 90,000

Current assets
Cash at bank 37,597 33,001

Creditors
Amounts falling due within one year 5 (103,073 ) (101,769 )
Net current liabilities (65,476 ) (68,768 )
Total assets less current liabilities 24,524 21,232

Capital and reserves
Called up share capital 6 100 100
Fair value reserve 7 7,223 7,223
Retained earnings 17,201 13,909
Shareholders' funds 24,524 21,232

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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.

Jmps Property Ltd. (Registered number: SC471747)

Balance Sheet - continued
31 March 2022


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

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

The financial statements were approved by the Board of Directors and authorised for issue on 1 September 2022 and were signed on its behalf by:





S Couch - Director


Jmps Property Ltd. (Registered number: SC471747)

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. Statutory information

Jmps Property Ltd. is a private company, limited by shares , registered in Scotland. 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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
Turnover is measured at the fair value of the consideration received or receivable,

Investment property
Investment properties are initially measured at cost and subsequently measured at fair value. Changes in fair value are recognised in profit or loss.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102. The directors consider that, because investment properties are not held for consumption, but for their investment potential, to depreciate them would not give a true and fair view.

If this departure from the Companies Act 2006 had not been made in order to give a true and fair view, the profit for the financial year would have been reduced by depreciation. However the amount of depreciation cannot reasonably be quantified, because depreciation is only one of many factors reflected in the annual valuation and the amount relating to the depreciation of the property cannot be separately identified.

3. Employees and directors

The average number of employees during the year was NIL (2021 - NIL).

4. Investment property
Total
£   
Fair value
At 1 April 2021
and 31 March 2022 90,000
Net book value
At 31 March 2022 90,000
At 31 March 2021 90,000

Jmps Property Ltd. (Registered number: SC471747)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

4. Investment property - continued

Fair value at 31 March 2022 is represented by:
£   
Valuation in 2022 90,000

If investment property had not been revalued it would have been included at the following historical cost:

31.3.22 31.3.21
£    £   
Cost 82,777 82,777

The investment property was valued on an open market basis on 31 March 2022 by the directors .

5. Creditors: amounts falling due within one year
31.3.22 31.3.21
£    £   
Corporation tax 772 788
Other creditors 100,000 100,000
Directors' current accounts 438 201
Accrued expenses 1,863 780
103,073 101,769

6. Called up share capital


Allotted, issued and fully paid:
Number: Class: Nominal 31.3.22 31.3.21
value: £    £   
100 Ordinary £1 100 100

7. Reserves
Fair
value
reserve
£   
At 1 April 2021
and 31 March 2022 7,223