Registered number
12489006
M Jolly Properties Limited
Filleted Accounts
28 February 2023
M Jolly Properties Limited
Registered number: 12489006
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 160,250 160,250
Current assets
Cash at bank and in hand 18,097 14,215
Creditors: amounts falling due within one year 4 (164,963) (165,990)
Net current liabilities (146,866) (151,775)
Net assets 13,384 8,475
Capital and reserves
Called up share capital 1 1
Profit and loss account 13,383 8,474
Shareholder's funds 13,384 8,475
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M Jolly
Director
Approved by the board on 25 October 2023
M Jolly Properties Limited
Notes to the Accounts
for the year ended 28 February 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land and buildings Not depreciated
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 March 2022 160,250
At 28 February 2023 160,250
Depreciation
At 28 February 2023 -
Net book value
At 28 February 2023 160,250
At 28 February 2022 160,250
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 420 600
Taxation and social security costs 1,151 1,998
Other creditors 163,392 163,392
164,963 165,990
5 Other information
M Jolly Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 2 Station Yard
Station Lane
Milford
Godalming
GU8 5AD
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