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REGISTERED NUMBER: 09749062 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Jubilee Farm Developments Limited

Jubilee Farm Developments Limited (Registered number: 09749062)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Jubilee Farm Developments Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mrs S J Garland
A P Garland





REGISTERED OFFICE: 4 HRFC Business Centre
Leicester Road
Hinckley
Leicestershire
LE10 3DR





REGISTERED NUMBER: 09749062 (England and Wales)





ACCOUNTANTS: Gopsall Services Limited
4 HRFC Business Centre
Leicester Road
Hinckley
Leicestershire
LE10 3DR

Jubilee Farm Developments Limited (Registered number: 09749062)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 722,089 425,598
Investment property 5 2,775,000 2,775,000
3,497,089 3,200,598

CURRENT ASSETS
Debtors 6 66,845 51,978
Cash at bank 34,682 39,909
101,527 91,887
CREDITORS
Amounts falling due within one year 7 1,124,845 802,838
NET CURRENT LIABILITIES (1,023,318 ) (710,951 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,473,771

2,489,647

CREDITORS
Amounts falling due after more than one
year

8

(591,460

)

(639,014

)

PROVISIONS FOR LIABILITIES (187,898 ) (184,997 )
NET ASSETS 1,694,413 1,665,636

CAPITAL AND RESERVES
Called up share capital 1,000 200
Share premium 1,117,500 1,117,500
Revaluation reserve 10 658,746 693,878
Retained earnings (82,833 ) (145,942 )
1,694,413 1,665,636

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.

Jubilee Farm Developments Limited (Registered number: 09749062)

Balance Sheet - continued
31 March 2023


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 16 August 2023 and were signed on its behalf by:





Mrs S J Garland - Director


Jubilee Farm Developments Limited (Registered number: 09749062)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Jubilee Farm Developments Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Straight line over 20 years
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

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.

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.

3. EMPLOYEES AND DIRECTORS

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

Jubilee Farm Developments Limited (Registered number: 09749062)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 April 2022 - 375,872 15,190
Additions 200,000 110,025 34,579
At 31 March 2023 200,000 485,897 49,769
DEPRECIATION
At 1 April 2022 - 47,191 6,211
Charge for year - 24,295 6,062
At 31 March 2023 - 71,486 12,273
NET BOOK VALUE
At 31 March 2023 200,000 414,411 37,496
At 31 March 2022 - 328,681 8,979

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 April 2022 157,674 4,500 553,236
Additions - - 344,604
At 31 March 2023 157,674 4,500 897,840
DEPRECIATION
At 1 April 2022 73,111 1,125 127,638
Charge for year 16,912 844 48,113
At 31 March 2023 90,023 1,969 175,751
NET BOOK VALUE
At 31 March 2023 67,651 2,531 722,089
At 31 March 2022 84,563 3,375 425,598

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 2,775,000
NET BOOK VALUE
At 31 March 2023 2,775,000
At 31 March 2022 2,775,000

It is the opinion of the directors that the Investment Property is stated at its fair value.

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2022 1,069,844
Cost 1,705,156
2,775,000

Jubilee Farm Developments Limited (Registered number: 09749062)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 60,020 46,645
Other debtors 6,825 5,333
66,845 51,978

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 127,856 47,549
Trade creditors 5,179 3,899
Taxation and social security 14,867 11,009
Other creditors 976,943 740,381
1,124,845 802,838

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans 591,460 639,014

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank loans 639,009 686,563

Handelsbanken PLC holds fixed and floating charges over the property and undertakings of the company, further details may be found on companies house.

10. RESERVES
Revaluation
reserve
£   
At 1 April 2022 693,878
Transfer of reserves (35,132 )

At 31 March 2023 658,746