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REGISTERED NUMBER: 10731999 (England and Wales)

















S M JONES PROPERTIES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023






S M JONES PROPERTIES LTD (REGISTERED NUMBER: 10731999)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


S M JONES PROPERTIES LTD (REGISTERED NUMBER: 10731999)

BALANCE SHEET
31 JANUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 285,000 285,000

CURRENT ASSETS
Cash at bank 12,275 12,804

CREDITORS
Amounts falling due within one year 5 10,739 25,655
NET CURRENT ASSETS/(LIABILITIES) 1,536 (12,851 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

286,536

272,149

CREDITORS
Amounts falling due after more than one year 6 (250,474 ) (241,889 )

PROVISIONS FOR LIABILITIES (6,453 ) (6,453 )
NET ASSETS 29,609 23,807

CAPITAL AND RESERVES
Called up share capital 7 1 1
Revaluation reserve 8 29,012 29,012
Retained earnings 8 596 (5,206 )
SHAREHOLDERS' FUNDS 29,609 23,807

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 October 2023 and were signed by:





S M Jones - Director


S M JONES PROPERTIES LTD (REGISTERED NUMBER: 10731999)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1. STATUTORY INFORMATION

S M Jones Properties Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10731999

Registered office: 71 Knowl Piece
Wilbury Way
Hitchin
United Kingdom
SG4 0TY

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.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

Turnover
Turnover represents rent receivable, excluding value added tax.

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.

Financial instruments
The company only enters into basic financial instruments 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 non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


S M JONES PROPERTIES LTD (REGISTERED NUMBER: 10731999)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2022
and 31 January 2023 285,000
NET BOOK VALUE
At 31 January 2023 285,000
At 31 January 2022 285,000

The investment property was valued by the director on an open market basis (considered to be represented by the cost) on 31 January 2023

Fair value at 31 January 2023 is represented by:
£   
Valuation in 2021 10,047
Valuation in 2022 25,418
Cost 249,535
285,000

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

2023 2022
£    £   
Cost 249,535 249,535

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Tax 140 -
Director's loan account 10,000 25,056
Accrued expenses 599 599
10,739 25,655

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Mortgage 180,293 180,293
Director's loan account 70,181 61,596
250,474 241,889

S M JONES PROPERTIES LTD (REGISTERED NUMBER: 10731999)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Mortgage 180,293 180,293

7. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary £1 1 1

8. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 February 2022 (5,206 ) 29,012 23,806
Profit for the year 5,802 5,802
At 31 January 2023 596 29,012 29,608