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REGISTERED NUMBER: 11209127 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

JACOB & WEISSMAN LTD

JACOB & WEISSMAN LTD (REGISTERED NUMBER: 11209127)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


JACOB & WEISSMAN LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: J Fekete





REGISTERED OFFICE: 115 Craven Park Road
South Tottenham
London
N15 6BL





REGISTERED NUMBER: 11209127 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

JACOB & WEISSMAN LTD (REGISTERED NUMBER: 11209127)

STATEMENT OF FINANCIAL POSITION
28 FEBRUARY 2023

28.2.23 28.2.22
Notes £    £   
FIXED ASSETS
Investment property 5 1,174,718 852,055

CURRENT ASSETS
Debtors 6 123,333 127,233
Cash at bank 1,725 2,955
125,058 130,188
CREDITORS
Amounts falling due within one year 7 (806,384 ) (476,220 )
NET CURRENT LIABILITIES (681,326 ) (346,032 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

493,392

506,023

CREDITORS
Amounts falling due after more than one
year

8

(408,720

)

(438,593

)
NET ASSETS 84,672 67,430

CAPITAL AND RESERVES
Called up share capital 11 1 1
Retained earnings 12 84,671 67,429
SHAREHOLDERS' FUNDS 84,672 67,430

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

JACOB & WEISSMAN LTD (REGISTERED NUMBER: 11209127)

STATEMENT OF FINANCIAL POSITION - continued
28 FEBRUARY 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 Income Statement has not been delivered.

The financial statements were approved and authorized for issue by the director and authorised for issue on 8 November 2023 and were signed by:





J Fekete - Director


JACOB & WEISSMAN LTD (REGISTERED NUMBER: 11209127)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Jacob & Weissman 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 NIL (2022 - NIL).

JACOB & WEISSMAN LTD (REGISTERED NUMBER: 11209127)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022 852,055
Additions 322,663
At 28 February 2023 1,174,718
NET BOOK VALUE
At 28 February 2023 1,174,718
At 28 February 2022 852,055

The fair value of investment property was assessed to be unchanged by the director. The fair value was determined using open market valuation method. The director does not have a formal qualification but considerable experience in property market to ascertain the fair value with sufficient level of confidence.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Other debtors 123,333 127,233

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts (see note 9) 24,338 24,338
Taxation and social security 7,177 12,851
Other creditors 774,869 439,031
806,384 476,220

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loans (see note 9) 392,609 420,260
Other creditors 16,111 18,333
408,720 438,593

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 280,958 308,609
Other loans more 5yrs instal - 18,333
280,958 326,942

Other creditors includes outstanding Bounceback Loan of £16,111 [2022 - £18,333]. The loan is unsecured, interest free for the first year, then capped at 2.5% and guaranteed by HM Government.

JACOB & WEISSMAN LTD (REGISTERED NUMBER: 11209127)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

9. LOANS

An analysis of the maturity of loans is given below:

28.2.23 28.2.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 24,338 24,338

Amounts falling due between two and five years:
Bank loans - 2-5 years 111,651 111,651
Other loans - 2-5 years 16,111 -
127,762 111,651

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 280,958 308,609
Other loans more 5yrs instal - 18,333
280,958 326,942

10. SECURED DEBTS

The following secured debts are included within creditors:

28.2.23 28.2.22
£    £   
Bank loans 416,947 444,598

Bank loan is secured by first charge over the company's investment property.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
1 Ordinary £1 1 1

12. RESERVES
Retained
earnings
£   

At 1 March 2022 67,429
Profit for the year 17,242
At 28 February 2023 84,671

13. ULTIMATE CONTROLLING PARTY

The controlling party is J Fekete.