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Registered Number: 10660608
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 March 2023

for

JGL PROPERTY LIMITED

Directors Mrs G M Lord
Mr R J Lord
Registered Number 10660608
Registered Office 5 Sandy Court
Ashleigh Way
Plympton
Devon
PL7 5JX
Accountants H M Williams Chartered Certified Accountants
5 Sandy Court
Ashleigh Way
Plymouth
PL7 5JX
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 31 March 2023
Principal activities
The principal activity of the company in the year under review was that of residential property letting.
Directors
The directors who have held office during the whole of the year were as follows:
Mrs G M Lord
Mr R J Lord
Statement of directors' responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
Mrs G M Lord
Director

Date approved: 27 November 2023
2
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 150,258    140,000 
150,258    140,000 
Current assets      
Debtors 4 146    2,045 
Cash at bank and in hand 73,034    8,202 
73,180    10,247 
Creditors: amount falling due within one year 5 (110,007)   (145,606)
Net current liabilities (36,827)   (135,359)
 
Total assets less current liabilities 113,431    4,641 
Creditors: amount falling due after more than one year 6 (110,922)  
Provisions for liabilities 7 (2,712)   (763)
Net liabilities (203)   3,878 
 

Capital and reserves
     
Called up share capital 2    2 
Profit and loss account (205)   3,876 
Shareholder's funds (203)   3,878 
 


For the year ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 27 November 2023 and were signed on its behalf by:


-------------------------------
Mrs G M Lord
Director
3
General Information
JGL Property Limited is a private company, limited by shares, registered in England and Wales, registration number 10660608, registration address 5 Sandy Court, Ashleigh Way, Plympton, Devon, PL7 5JX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
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 taxation
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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer Equipment 3 Years Straight Line
Investment properties
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.
2.

Average number of employees

Average number of employees during the year was 0 (2022 : 0).
3.

Tangible fixed assets

Cost or valuation Computer Equipment   Investment properties   Total
  £   £   £
At 01 April 2022   140,000    140,000 
Additions 387      387 
Disposals    
Revaluations   10,000    10,000 
At 31 March 2023 387    150,000    150,387 
Depreciation
At 01 April 2022    
Charge for year 129      129 
On disposals    
At 31 March 2023 129      129 
Net book values
Closing balance as at 31 March 2023 258    150,000    150,258 
Opening balance as at 01 April 2022   140,000    140,000 

Investment property
Investment property is shown at the most recent valuation. Any aggregate surplus' or deficits arising from changes in the market value are recognised in the profit or loss.

Investment properties have been valued as at 31st March 2023 on the basis of their open market value with vacant possession by the Director Mr R J Lord.

Fair value as at 31 March 2023 is represented by:

  2023
£
Valuation in 2023 10,000 
Valuation in 2022 4,017 
Cost 135,983 
150,000 









4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors   2,045 
Other Debtors 146   
146    2,045 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 61    225 
Taxation and Social Security   146 
Other Creditors 109,946    145,235 
110,007    145,606 

6.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 110,922   
110,922   

7.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 2,712    763 
2,712    763 

8.

Reserves

The retained earnings include a non-distributable amount of £14,017 from revaluation adjustments under FRS 102.
9.

Controlling party

The company is under the control of its directors.
4