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Registration number: 13320385

JLC Commercial Property Ltd

Unaudited Filleted Financial Statements

for the Period from 1 May 2022 to 31 March 2023

 

JLC Commercial Property Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

JLC Commercial Property Ltd

Company Information

Directors

Mr Leon Charles Herbert Coy

Mrs Joeuma Elaine Rocha Coy

Registered office

34 Wigram Way
Stevenage
Hertfordshire
SG2 9TS

Accountants

RiverView Portfolio Limited
1 Market Hill
Calne
Wiltshire
SN11 0BT

 

JLC Commercial Property Ltd

(Registration number: 13320385)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

860

-

Investment property

5

220,000

-

 

220,860

-

Current assets

 

Debtors

6

3,934

-

Cash at bank and in hand

 

2,648

5

 

6,582

5

Creditors: Amounts falling due within one year

7

(90,340)

-

Net current (liabilities)/assets

 

(83,758)

5

Total assets less current liabilities

 

137,102

5

Creditors: Amounts falling due after more than one year

7

(125,399)

-

Provisions for liabilities

(6,066)

-

Net assets

 

5,637

5

Capital and reserves

 

Called up share capital

5

5

Revaluation reserve

25,861

-

Retained earnings

(20,229)

-

Shareholders' funds

 

5,637

5

For the financial period ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 October 2023 and signed on its behalf by:
 

 

JLC Commercial Property Ltd

(Registration number: 13320385)
Balance Sheet as at 31 March 2023 (continued)

.........................................
Mr Leon Charles Herbert Coy
Director

.........................................
Mrs Joeuma Elaine Rocha Coy
Director

 

JLC Commercial Property Ltd

Notes to the Unaudited Financial Statements for the Period from 1 May 2022 to 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
34 Wigram Way
Stevenage
Hertfordshire
SG2 9TS
England

These financial statements were authorised for issue by the Board on 18 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

JLC Commercial Property Ltd

Notes to the Unaudited Financial Statements for the Period from 1 May 2022 to 31 March 2023 (continued)

2

Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 0 (2022 - 0).

 

JLC Commercial Property Ltd

Notes to the Unaudited Financial Statements for the Period from 1 May 2022 to 31 March 2023 (continued)

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

1,147

1,147

At 31 March 2023

1,147

1,147

Depreciation

Charge for the period

287

287

At 31 March 2023

287

287

Carrying amount

At 31 March 2023

860

860

5

Investment properties

2023
£

Additions

188,073

Fair value adjustments

31,927

At 31 March

220,000

The fair value of the property at 31st March 2023 has been arrived at on the basis of a valuation carried out at that date by the director of the company, who is not a professionally qualified valuer. The valuation of £220,000 was arrived at by reference to the market evidence of transaction prices for similar properties in its location the property is situated.

6

Debtors

Current

2023
£

2022
£

Prepayments

85

-

Other debtors

3,849

-

 

JLC Commercial Property Ltd

Notes to the Unaudited Financial Statements for the Period from 1 May 2022 to 31 March 2023 (continued)

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

155

-

Accruals and deferred income

240

-

Other creditors

89,945

-

90,340

-

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

125,399

-

8

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current period were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

25,861

25,861

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

125,399

-