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REGISTERED NUMBER: 12071034 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

JLF Homes Ltd

JLF Homes Ltd (Registered number: 12071034)






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




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


JLF Homes Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mr G Ferguson
Mrs S Ferguson





REGISTERED OFFICE: Suite 3
Falcon Court Business Centre
College Road
Maidstone
Kent
ME15 6TF





REGISTERED NUMBER: 12071034 (England and Wales)





ACCOUNTANTS: Skyfire Accountancy Ltd
The Old Rectory
Springhead Road
Northfleet
Kent
DA11 8HN

JLF Homes Ltd (Registered number: 12071034)

Abridged Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 5 803,665 803,665

CURRENT ASSETS
Cash at bank 29,424 21,150

CREDITORS
Amounts falling due within one year 783,745 783,428
NET CURRENT LIABILITIES (754,321 ) (762,278 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

49,344

41,387

PROVISIONS FOR LIABILITIES 5,249 5,249
NET ASSETS 44,095 36,138

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 6 22,379 22,379
Retained earnings 21,616 13,659
SHAREHOLDERS' FUNDS 44,095 36,138

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 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.

JLF Homes Ltd (Registered number: 12071034)

Abridged Balance Sheet - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 Board of Directors and authorised for issue on 3 November 2023 and were signed on its behalf by:




Mr G Ferguson - Director



Mrs S Ferguson - Director


JLF Homes Ltd (Registered number: 12071034)

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

1. STATUTORY INFORMATION

JLF Homes Ltd 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Sales comprise the fair value of the consideration received or receivable for the sale of goods / and / rendering of services in the ordinary course of the company's activities. Sales are presented, net of value-added tax, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and when specific criteria have been met for each of the company's activities as follows:

Rental income from operating leases (net of any incentives given to the lessees) is recognised when the right to receive payment is established.

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 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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

JLF Homes Ltd (Registered number: 12071034)

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

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 803,665
NET BOOK VALUE
At 31 March 2023 803,665
At 31 March 2022 803,665

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2022 27,628
Cost 776,037
803,665

Investment property was valued on an open market basis on 31 March 2023 by Mr G Ferguson .

6. RESERVES
Fair
value
reserve
£   
At 1 April 2022
and 31 March 2023 22,379

7. RELATED PARTY DISCLOSURES

At the end of the period there was a balance owed to the directors of £249,900 (2022: £249,900). The balance is included within creditors due within one year, is interest free and is repayable on demand.

At the end of the period there was a balance owed to Huggins Bromage Ferguson Ltd of £200 (2022: £200). Huggins Bromage Ferguson Ltd is under the control of the directors of the company. The balance is included within creditors due within one year, is interest free and is repayable on demand.

During the period the company borrowed £394 from Novus Homes Ltd. At the end of the period the balance owed to Novus Homes Ltd was £531,779 (2022: £531,385). Novus Homes Ltd is under the control of the directors of the company. The balance is included within creditors due within one year, is interest free and is repayable on demand.