Company Registration No. 05720625 (England and Wales)
Jersey Property Management Ltd
Unaudited accounts
for the year ended 31 March 2023
Jersey Property Management Ltd
Unaudited accounts
Contents
Jersey Property Management Ltd
Company Information
for the year ended 31 March 2023
Company Number
05720625 (England and Wales)
Registered Office
60 High Street
Wimbledon
London
SW19 5EE
Accountants
Wellden Turnbull Limited
Albany House
Claremont Lane
Esher
Surrey
KT10 9FQ
Jersey Property Management Ltd
Statement of financial position
as at 31 March 2023
Cash at bank and in hand
512
14,783
Creditors: amounts falling due within one year
(22,134)
(10,675)
Net current assets
982,790
287,807
Net assets
982,790
287,807
Called up share capital
1
1
Profit and loss account
982,789
287,806
Shareholders' funds
982,790
287,807
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 14 November 2023 and were signed on its behalf by
Mr D S Baroukh
Director
Company Registration No. 05720625
Jersey Property Management Ltd
Notes to the Accounts
for the year ended 31 March 2023
Jersey Property Management Ltd is a private company, limited by shares, registered in England and Wales, registration number 05720625. The registered office is 60 High Street , Wimbledon, London, SW19 5EE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The financial statements are presented in sterling which is the functional currency of the Company and rounded to the nearest £.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
The tax expense for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Cash at bank and in hand comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Short term creditors are measured at the transaction price. Other financial liabilities, including bankloans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Jersey Property Management Ltd
Notes to the Accounts
for the year ended 31 March 2023
The Company only enters into basic financial instrument transactions 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 ordinary shares.
Amounts falling due within one year
Trade debtors
97,120
97,120
Other debtors
907,292
186,579
5
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
21,009
9,625
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
7
Transactions with related parties
At the balance sheet date £3,050 (2022 - £3,050) was owed by an LLP of which the Company has an interest in, included within other debtors.
At the balance sheet date £904,242 (2022 - £183,529) was due from an LLP of which the Company has an interest in. This is in respect of profit shares and loans provided to the LLP. These amounts are included within other debtors, are interest free and repayable on demand.
Included within trade debtors is £97,120 (2022 - £97,120) due from a company under common control.
The controlling party is Mr D S Baroukh.
9
Average number of employees
During the year the average number of employees was 1 (2022: 1).