Company registration number:
14004331
JJC Property Holdings Ltd
Unaudited filleted financial statements
31 March 2023
JJC Property Holdings Ltd
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
JJC Property Holdings Ltd
Directors and other information
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Directors |
JJ Clarke |
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Company number |
14004331 |
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Registered office |
133 Fairburn Drive |
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Garforth |
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Leeds |
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West Yorkshire |
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LS25 2AR |
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Accountants |
Howard Matthews Partnership |
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Lidgett House |
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56 Lidgett Lane |
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Garforth |
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Leeds |
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LS25 1LL |
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JJC Property Holdings Ltd
Statement of financial position
31 March 2023
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2023 |
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Note |
£ |
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£ |
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Fixed assets |
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Tangible assets |
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4 |
141,904 |
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_______ |
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141,904 |
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Current assets |
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Cash at bank and in hand |
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6,256 |
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_______ |
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6,256 |
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Creditors: amounts falling due |
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within one year |
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5 |
(
46,580) |
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_______ |
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Net current liabilities |
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40,324) |
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_______ |
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Total assets less current liabilities |
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101,580 |
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Creditors: amounts falling due |
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after more than one year |
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6 |
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(
101,250) |
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_______ |
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Net assets |
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330 |
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_______ |
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Capital and reserves |
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Called up share capital |
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1 |
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Profit and loss account |
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329 |
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_______ |
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Shareholders funds |
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330 |
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_______ |
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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.
Directors responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
01 September 2023
, and are signed on behalf of the board by:
JJ Clarke
Director
Company registration number:
14004331
JJC Property Holdings Ltd
Notes to the financial statements
Year ended 31 March 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 133 Fairburn Drive, Garforth, Leeds, West Yorkshire, LS25 2AR.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is the rental received or receivable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at revalued amounts and recorded at the fair value at the date of revaluation.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4.
Tangible assets
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Long leasehold property |
Total |
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£ |
£ |
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Cost |
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At 1 April 2022 |
- |
- |
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Additions |
141,904 |
141,904 |
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_______ |
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At 31 March 2023 |
141,904 |
141,904 |
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_______ |
_______ |
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Depreciation |
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At 1 April 2022 and 31 March 2023 |
- |
- |
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_______ |
_______ |
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Carrying amount |
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At 31 March 2023 |
141,904 |
141,904 |
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_______ |
_______ |
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5.
Creditors: amounts falling due within one year
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2023 |
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£ |
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Trade creditors |
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592 |
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Corporation tax |
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77 |
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Other creditors |
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45,911 |
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_______ |
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46,580 |
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_______ |
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6.
Creditors: amounts falling due after more than one year
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2023 |
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£ |
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Bank loans and overdrafts |
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101,250 |
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_______ |
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7.
Directors advances, credits and guarantees
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During the year the directors entered into the following advances and credits with the company: |
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2023 |
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Balance brought forward |
Advances /(credits) to the directors |
Amounts repaid |
Balance o/standing |
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£ |
£ |
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£ |
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JJ Clarke |
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(
45,312) |
1 |
(
45,311) |
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_______ |
_______ |
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_______ |
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