Jacobs Property Management Ltd
trading as
for the Year Ended 28 February 2023
Jacobs Property Management Ltd
trading as Jacobs Property Management
Contents
Company Information |
|
Balance Sheet |
|
Notes to the Unaudited Financial Statements |
Jacobs Property Management Ltd
trading as Jacobs Property Management
Company Information
Directors |
Mr Richard George Jacobs Mrs Anita Marie Jacobs |
Registered office |
|
Registered number |
11842353 (England & Wales) |
Accountants |
|
Jacobs Property Management Ltd
trading as Jacobs Property Management
(Registration number: 11842353)
Balance Sheet as at 28 February 2023
Note |
2023 |
2022 |
|
Fixed assets |
|||
Tangible assets |
|
|
|
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current liabilities |
( |
( |
|
Total assets less current liabilities |
|
|
|
Provisions for liabilities |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Retained earnings |
92,169 |
48,521 |
|
Shareholders' funds |
92,169 |
48,521 |
For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Jacobs Property Management Ltd
trading as Jacobs Property Management
(Registration number: 11842353)
Balance Sheet as at 28 February 2023
Approved and authorised by the
and signed on its behalf by:
.........................................
Director
.........................................
Director
Jacobs Property Management Ltd
trading as Jacobs Property Management
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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.
Jacobs Property Management Ltd
trading as Jacobs Property Management
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Land & buildings |
not provided |
Plant & machinery |
25% straight line |
Office equipment |
25% straight line |
Fixtures & fittings |
25% straight line |
Cash and cash equivalents
Cash and cash equivalents 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.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Jacobs Property Management Ltd
trading as Jacobs Property Management
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023
Taxation |
Tax charged/(credited) in the income statement
2023 |
2022 |
|
Current taxation |
||
UK corporation tax |
|
|
Deferred taxation |
||
Arising from changes in tax rates and laws |
|
|
Tax expense in the income statement |
|
|
Tangible assets |
Land and buildings |
Fixtures and fittings |
Plant and machinery |
Office equipment |
||
Cost or valuation |
|||||
At 1 March 2022 |
|
|
|
|
|
Additions |
|
- |
|
|
|
At 28 February 2023 |
|
|
|
|
|
Depreciation |
|||||
At 1 March 2022 |
- |
|
|
|
|
Charge for the year |
- |
|
|
|
|
At 28 February 2023 |
- |
|
|
|
|
Carrying amount |
|||||
At 28 February 2023 |
|
|
|
|
|
At 28 February 2022 |
|
|
|
|
Jacobs Property Management Ltd
trading as Jacobs Property Management
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023
Total |
|||||
Cost or valuation |
|||||
At 1 March 2022 |
|
||||
Additions |
|
||||
At 28 February 2023 |
|
||||
Depreciation |
|||||
At 1 March 2022 |
|
||||
Charge for the year |
|
||||
At 28 February 2023 |
|
||||
Carrying amount |
|||||
At 28 February 2023 |
|
||||
At 28 February 2022 |
|
Included within the net book value of land and buildings above is £417,140 (2022 - £387,179) in respect of freehold land and buildings.
Jacobs Property Management Ltd
trading as Jacobs Property Management
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023
debtors |
Current |
2023 |
2022 |
Trade debtors |
|
|
Prepayments |
|
|
|
|
Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
|
Due within one year |
||
Trade creditors |
|
|
Taxation and social security |
|
|
Accruals and deferred income |
|
|
Other creditors |
|
|
|
|
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
|
|
100 |
|
100 |
Deferred tax and other provisions |
Deferred tax |
Total |
|
At 1 March 2022 |
|
|
Increase (decrease) in existing provisions |
|
|
At 28 February 2023 |
|
|
|
Jacobs Property Management Ltd
trading as Jacobs Property Management
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023
Related party transactions |
Summary of transactions with other related parties
Management fees were also paid to Driveline (GB) Ltd of £1,711 in the year (£nil 2022).