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REGISTERED NUMBER: 12017670 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

SJT PROPERTY LTD

SJT PROPERTY LTD (REGISTERED NUMBER: 12017670)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SJT PROPERTY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTOR: Mr Sebastian John Thomas





REGISTERED OFFICE: Unit 6, Riverside Business Centre
Brighton Road
Shoreham-by-Sea
West Sussex
BN43 6RE





REGISTERED NUMBER: 12017670 (England and Wales)





ACCOUNTANTS: Peter Jarman LLP
trading as
Peter Jarman & Company
1 Harbour House
Harbour Way
Shoreham by Sea
West Sussex
BN43 5HZ

SJT PROPERTY LTD (REGISTERED NUMBER: 12017670)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 5,510 6,275
Investment property 5 1,800,000 1,304,069
1,805,510 1,310,344

CURRENT ASSETS
Debtors 6 11,571 5,962
Cash at bank 15,149 22,799
26,720 28,761
CREDITORS
Amounts falling due within one year 7 (1,065,920 ) (924,004 )
NET CURRENT LIABILITIES (1,039,200 ) (895,243 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

766,310

415,101

CREDITORS
Amounts falling due after more than one
year

8

(368,092

)

(368,120

)

PROVISIONS FOR LIABILITIES (79,282 ) (13,522 )
NET ASSETS 318,936 33,459

CAPITAL AND RESERVES
Called up share capital 1 1
Fair value reserve 10 333,530 64,895
Retained earnings (14,595 ) (31,437 )
318,936 33,459

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

SJT PROPERTY LTD (REGISTERED NUMBER: 12017670)

BALANCE SHEET - continued
31 MAY 2023


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 November 2023 and were signed by:





Mr Sebastian John Thomas - Director


SJT PROPERTY LTD (REGISTERED NUMBER: 12017670)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

SJT Property 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. 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.

Turnover
Turnover represents rents receivable on investment properties for the accounting period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimate useful life.

Plant and machinery etc - 25% on reducing balance

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 1 (2022 - 1 ) .

SJT PROPERTY LTD (REGISTERED NUMBER: 12017670)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022 7,941
Additions 981
At 31 May 2023 8,922
DEPRECIATION
At 1 June 2022 1,666
Charge for year 1,746
At 31 May 2023 3,412
NET BOOK VALUE
At 31 May 2023 5,510
At 31 May 2022 6,275

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022 1,304,069
Additions 149,060
Revaluations 346,871
At 31 May 2023 1,800,000
NET BOOK VALUE
At 31 May 2023 1,800,000
At 31 May 2022 1,304,069

Fair value at 31 May 2023 is represented by:
£   
Valuation in 2020 25,681
Valuation in 2021 29,213
Valuation in 2022 10,000
Valuation in 2023 346,871
Cost 1,388,235
1,800,000

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

2023 2022
£    £   
Cost 1,388,235 1,294,069

Investment property was valued on an open market value basis on 31 May 2023 by the director .

SJT PROPERTY LTD (REGISTERED NUMBER: 12017670)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

5. INVESTMENT PROPERTY - continued

The first property was valued at £595,000 in the financial accounts for 2021, the property has been valued to £700,000 on the 31st May 2023.

The second property was valued at £709,068 in the financial accounts for 2021, the property has been valued to £1,100,000 on the 31st May 2023.

The combined value of the properties at the financial year end is £1,800,000.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 11,571 5,962

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 2
Other creditors 1,065,920 924,002
1,065,920 924,004

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 368,092 368,120

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans due in more than 5 years by
non-instalments

368,092

368,120

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 368,092 368,120

SJT PROPERTY LTD (REGISTERED NUMBER: 12017670)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

10. RESERVES
Fair
value
reserve
£   
At 1 June 2022 64,895
Non-distributable reserve 268,635

At 31 May 2023 333,530