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REGISTERED NUMBER: 12340852 (England and Wales)

















Unaudited Financial Statements

For The Period

1 December 2021 to 29 November 2022

for

Jaybee Properties Limited

Jaybee Properties Limited (Registered number: 12340852)

Contents of the Financial Statements
For The Period 1 December 2021 to 29 November 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Jaybee Properties Limited

Company Information
For The Period 1 December 2021 to 29 November 2022







DIRECTORS: J A Bhatti
F J Bhatti





REGISTERED OFFICE: First Floor
Cambridge House
Cambridge Road
Harlow
Essex
CM20 2EQ





REGISTERED NUMBER: 12340852 (England and Wales)





ACCOUNTANTS: Giess Wallis Crisp LLP
10-12 Mulberry Green
Old Harlow
Essex
CM17 0ET

Jaybee Properties Limited (Registered number: 12340852)

Balance Sheet
29 November 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 750,000 560,000

CURRENT ASSETS
Debtors 5 - 2,195
Cash at bank 4,134 2,798
4,134 4,993
CREDITORS
Amounts falling due within one year 6 598,118 554,481
NET CURRENT LIABILITIES (593,984 ) (549,488 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

156,016

10,512

PROVISIONS FOR LIABILITIES 8 38,979 1,978
NET ASSETS 117,037 8,534

CAPITAL AND RESERVES
Called up share capital 9 100 100
Fair value reserve 10 163,845 18,948
Retained earnings 10 (46,908 ) (10,514 )
SHAREHOLDERS' FUNDS 117,037 8,534

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29 November 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 29 November 2022 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.

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 October 2023 and were signed on its behalf by:



J A Bhatti - Director



F J Bhatti - Director


Jaybee Properties Limited (Registered number: 12340852)

Notes to the Financial Statements
For The Period 1 December 2021 to 29 November 2022


1. STATUTORY INFORMATION

Jaybee Properties 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.

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
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no estimates and assumptions which have had a significant risk of causing a material adjustment to the carrying amount of assets and liabilities

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 has elected to apply the provisions of Section 11:'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues ' of FRS 102 to all of its financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities such as trade debtors and creditors.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position 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.

Debtors
Short terms debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by current accounts, 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.

Creditors
Short term creditors are measured at the transaction price.


Jaybee Properties Limited (Registered number: 12340852)

Notes to the Financial Statements - continued
For The Period 1 December 2021 to 29 November 2022


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period 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 period 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 period was 2 (2021 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2021 560,000
Additions 10,568
Revaluations 179,432
At 29 November 2022 750,000
NET BOOK VALUE
At 29 November 2022 750,000
At 30 November 2021 560,000

Fair value at 29 November 2022 is represented by:
£   
Valuation in 2021 23,392
Valuation in 2022 179,432
Cost 547,176
750,000

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

2022 2021
£    £   
Cost 547,176 536,608

Investment property was valued on an open market basis on 30 November 2022 by the directors .

Jaybee Properties Limited (Registered number: 12340852)

Notes to the Financial Statements - continued
For The Period 1 December 2021 to 29 November 2022


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Other debtors - 2,195

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 420,750 120,071
Other creditors 177,368 434,410
598,118 554,481

7. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loans 420,750 120,071

The bank loans are secured against the property.

8. PROVISIONS FOR LIABILITIES
2022 2021
£    £   
Deferred tax 38,979 1,978

Deferred
tax
£   
Balance at 1 December 2021 1,978
Provided during period 37,001
Balance at 29 November 2022 38,979

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 December 2021 (10,514 ) 18,948 8,434
Profit for the period 108,503 108,503
Fair value uplift (179,432 ) 179,432 -
Tax on fair value uplift 34,535 (34,535 ) -
At 29 November 2022 (46,908 ) 163,845 116,937