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REGISTERED NUMBER: 10131561 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

J & L Ventures Limited

J & L Ventures Limited (Registered number: 10131561)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


J & L Ventures Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: J Barney





REGISTERED OFFICE: 24 Picton House
Hussar Court
Waterlooville
Hampshire
PO7 7SQ





REGISTERED NUMBER: 10131561 (England and Wales)





ACCOUNTANTS: Johnston Wood Roach Limited
24 Picton House
Hussar Court
Waterlooville
Hampshire
PO7 7SQ

J & L Ventures Limited (Registered number: 10131561)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Investments 4 100 100
Investment property 5 522,296 448,210
522,396 448,310

CURRENT ASSETS
Debtors 6 171,123 356,289
Cash at bank 184,357 3,331
355,480 359,620
CREDITORS
Amounts falling due within one year 7 124,186 204,512
NET CURRENT ASSETS 231,294 155,108
TOTAL ASSETS LESS CURRENT
LIABILITIES

753,690

603,418

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 753,590 603,318
SHAREHOLDERS' FUNDS 753,690 603,418

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 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 October 2023 and were signed by:





J Barney - Director


J & L Ventures Limited (Registered number: 10131561)

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

1. STATUTORY INFORMATION

J & L Ventures 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 (£).


Accounts are rounded to the nearest pound.

The account represent the company as an individual entity.

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.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

3. EMPLOYEES AND DIRECTORS

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

J & L Ventures Limited (Registered number: 10131561)

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

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2022
and 31 March 2023 100
NET BOOK VALUE
At 31 March 2023 100
At 31 March 2022 100

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 448,210
Additions 74,086
At 31 March 2023 522,296
NET BOOK VALUE
At 31 March 2023 522,296
At 31 March 2022 448,210

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Amounts owed by group undertakings 171,123 356,289

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 145 -
Taxation and social security 1,002 1,082
Other creditors 123,039 203,430
124,186 204,512

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
100 Ordinary £1 100 100

J & L Ventures Limited (Registered number: 10131561)

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

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
J Barney
Balance outstanding at start of year (202,650 ) (12,516 )
Amounts advanced 209,961 52,021
Amounts repaid (129,492 ) (242,155 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (122,181 ) (202,650 )

At the year end the company owed £122,181 (2022 £202,650) to the director.