Caseware UK (AP4) 2021.0.152 2021.0.152 2021-11-302021-11-30trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.12020-12-01falseNo description of principal activity1false 11064560 2020-12-01 2021-11-30 11064560 2019-12-01 2020-11-30 11064560 2021-11-30 11064560 2020-11-30 11064560 c:Director1 2020-12-01 2021-11-30 11064560 d:CurrentFinancialInstruments 2021-11-30 11064560 d:CurrentFinancialInstruments 2020-11-30 11064560 d:Non-currentFinancialInstruments 2021-11-30 11064560 d:Non-currentFinancialInstruments 2020-11-30 11064560 d:CurrentFinancialInstruments d:WithinOneYear 2021-11-30 11064560 d:CurrentFinancialInstruments d:WithinOneYear 2020-11-30 11064560 d:Non-currentFinancialInstruments d:AfterOneYear 2021-11-30 11064560 d:Non-currentFinancialInstruments d:AfterOneYear 2020-11-30 11064560 d:ShareCapital 2021-11-30 11064560 d:ShareCapital 2020-11-30 11064560 d:RetainedEarningsAccumulatedLosses 2020-12-01 2021-11-30 11064560 d:RetainedEarningsAccumulatedLosses 2021-11-30 11064560 d:RetainedEarningsAccumulatedLosses 2020-11-30 11064560 c:OrdinaryShareClass1 2020-12-01 2021-11-30 11064560 c:OrdinaryShareClass1 2021-11-30 11064560 c:OrdinaryShareClass1 2020-11-30 11064560 c:FRS102 2020-12-01 2021-11-30 11064560 c:AuditExempt-NoAccountantsReport 2020-12-01 2021-11-30 11064560 c:FullAccounts 2020-12-01 2021-11-30 11064560 c:PrivateLimitedCompanyLtd 2020-12-01 2021-11-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 11064560






J PATEL PROPERTIES LIMITED

UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 NOVEMBER 2021

 
J PATEL PROPERTIES LIMITED
REGISTERED NUMBER: 11064560

STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2021

2021
2020
Note
£
£

Fixed assets
  

Investments
 4 
184,881
184,881

  
184,881
184,881

Current assets
  

Cash at bank and in hand
 5 
1,292
8,079

  
1,292
8,079

Creditors: amounts falling due within one year
 6 
(93,747)
(107,503)

Net current liabilities
  
 
 
(92,455)
 
 
(99,424)

Total assets less current liabilities
  
92,426
85,457

Creditors: amounts falling due after more than one year
 7 
(112,584)
(117,304)

  

Net liabilities
  
(20,158)
(31,847)


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
 9 
(20,258)
(31,947)

  
(20,158)
(31,847)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

Page 1

 
J PATEL PROPERTIES LIMITED
REGISTERED NUMBER: 11064560
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 NOVEMBER 2021

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 August 2022.



Jyoti Patel
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
J PATEL PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

1.Accounting policies

 
1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
1.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
1.3

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
J PATEL PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

1.Accounting policies (continued)

 
1.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

 
1.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are 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.

 
1.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
1.7

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 ordinary shares.

Page 4

 
J PATEL PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

2.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily ascertainable from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual outcomes may differ from these estimates.
The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised.
The key areas of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:
Prepayments & Accrued Expenditure
The company includes a provision for invoices which are yet to be received from and amounts paid in advance to suppliers. These provisions are estimated based upon the expected values of the invoices which are issued and services received following the period end.
Property Valuations
Properties held as investments are revalued at the balance sheet date to open market value.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2020 - 1).


4.


Investment property





Investment property

£



Cost or valuation


At 1 December 2020
184,881



At 30 November 2021
184,881




The valuation is based on open market value for existing use, as determined by the director.

Page 5

 
J PATEL PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

5.


Cash and cash equivalents

2021
2020
£
£

Cash at bank and in hand
1,292
8,079

1,292
8,079



6.


Creditors: Amounts falling due within one year

2021
2020
£
£

Corporation tax
1,242
-

Other creditors
91,305
106,303

Accruals and deferred income
1,200
1,200

93,747
107,503



7.


Creditors: Amounts falling due after more than one year

2021
2020
£
£

Bank loans
112,584
117,304

112,584
117,304


Page 6

 
J PATEL PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

8.


Share capital

2021
2020
£
£
Allotted, called up and fully paid



100 (2020 - 100) Ordinary shares of £1.00 each
100
100



9.


Reserves

Profit and loss account

The profit and loss account consists of £5,294 [2020 - (£6,395)] of distributable reserves and (£25,552) [2020 - (£25,552)] of non-distributable reserves.

 
Page 7