J & H Property Investments Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 04858045 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2023

for

J & H Property Investments Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J B Baron

Mrs H L Baron

SECRETARY:

J B Baron

REGISTERED OFFICE:

59 Balmoral Road

Accrington

Lancashire

BB5 6DB

REGISTERED NUMBER:

04858045 (England and Wales)

ACCOUNTANTS:

Mayes Business Partnership Ltd

Chartered Certified Accountants

22-28 Willow Street

Accrington

Lancashire

BB5 1LP

FIXED ASSETS

Tangible assets

4

22

29

Investment property

5

1,488,250

1,488,272

1,488,279

CURRENT ASSETS

Cash at bank and in hand

1,549

1,639

CREDITORS

Amounts falling due within one year

54,969

51,041

NET CURRENT LIABILITIES

(53,420

)

(49,402

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,434,852

1,438,877

CREDITORS

Amounts falling due after more than one year

6

(1,058,485

)

(1,077,095

)

PROVISIONS FOR LIABILITIES

(21,716

)

(20,268

)

NET ASSETS

354,651

341,514

CAPITAL AND RESERVES

Called up share capital

8

28

Share premium

250,291

Fair value reserve

9

92,564

Retained earnings

11,768

(1,369

)

SHAREHOLDERS' FUNDS

354,651

341,514

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 25 September 2023 and were signed on its behalf by:

J B Baron - Director

1.	STATUTORY INFORMATION

J & H Property Investments Ltd is a private company, limited by shares , registered in England and Wales. 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.

The financial statements have been prepared on a going concern basis. The company has net current liabilities in the current and previous financial years. The company is reliant on the continued financial support of the bank by way of loans secured on properties. The directors are of the opinion that trading performance will improve over the next financial year and that the relevant support will be maintained. No adjustments have been made that may have been found necessary if any other basis of preparation had been used.

Turnover

The turnover shown in the profit and loss account represents revenue recognised by the company in respect of the letting of residential property during the period, exclusive of Value Added Tax and trade discounts.

The revenue is recognised when the right to receive payment is established.

Tangible fixed assets

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

Computer equipment

-

15% on reducing balance

Tangible fixed assets are originally recorded 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.

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.

Hire purchase and leasing commitments

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2022

and 31 March 2023

666

DEPRECIATION

At 1 April 2022

637

Charge for year

7

At 31 March 2023

644

NET BOOK VALUE

At 31 March 2023

22

At 31 March 2022

29

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2022

and 31 March 2023

1,488,250

NET BOOK VALUE

At 31 March 2023

1,488,250

At 31 March 2022

1,488,250

Fair value at 31 March 2023 is represented by:

£

Valuation in 2022

114,276

Cost

1,373,974

1,488,250

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

31/3/23

31/3/22

£

Cost

1,373,974

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

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS

31/3/23

31/3/22

£

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

1,034,818

1,052,631

7.	SECURED DEBTS

The following secured debts are included within creditors:

31/3/23

31/3/22

£

Bank loans

1,066,235

1,086,995

Bank loans and mortgages are secured by a fixed and floating charge over the specific asset and across all company assets both current and future.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/23

31/3/22

value:

£

28

Ordinary

£1

28

9.

RESERVES

Fair

value

reserve

£

At 1 April 2022

and 31 March 2023

92,564