REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 28 February 2023 |
for |
JJL Property Management Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 28 February 2023 |
for |
JJL Property Management Limited |
JJL Property Management Limited (Registered number: 13199051) |
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 | 3 |
JJL Property Management Limited |
Company Information |
for the Year Ended 28 February 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
48 Hucclecote Road |
Gloucester |
Gloucestershire |
GL3 3RS |
BANKERS: |
5th Floor |
London Fruit & Wool Exchange |
1 Duval Square |
London |
E1 6PW |
JJL Property Management Limited (Registered number: 13199051) |
Statement of Financial Position |
28 February 2023 |
28/2/23 | 28/2/22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The directors acknowledge their 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
JJL Property Management Limited (Registered number: 13199051) |
Notes to the Financial Statements |
for the Year Ended 28 February 2023 |
1. | STATUTORY INFORMATION |
JJL Property Management Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Investment property |
Investment property is shown in the accounts at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Income Statement. |
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. |
Going concern |
Despite net current liabilities of £278,393 (2022 - £432) and net liabilities of £1,687 (2022 - £432), the financial statements have been prepared on a going concern basis. The directors have reviewed the future cash flows of the company and have expressed their intention, along with that of JJL Carpentry Contractors Limited (a company under common control), to financially support the company for the foreseeable future. They therefore deem the going concern basis of preparation to be appropriate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | INVESTMENT PROPERTY |
Total |
£ |
Fair value |
Additions |
At 28 February 2023 |
Net book value |
At 28 February 2023 |
The investment property is held in the financial statements at cost. Given the property was purchased in the year, the directors are of the opinion that the fair value of the property at 28 February 2023 is not materially different to the initial cost. |
JJL Property Management Limited (Registered number: 13199051) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28/2/23 | 28/2/22 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28/2/23 | 28/2/22 |
£ | £ |
Other creditors |
7. | RELATED PARTY DISCLOSURES |
JJL Carpentry Contractors Limited |
A company under common control |
The company has borrowed funds from JJL Carpentry Contractors Limited to fund the purchase of the investment property. At 28 February 2023, the company owed JJL Carpentry Contractors Limited £293,208 (2022 - £2,000). The loan is interest free and unsecured with no fixed repayment terms. |
8. | POST BALANCE SHEET EVENTS |
Following the end of this accounting period, a second investment property has been purchased, financed via a commercial loan secured upon the property and other assets of the company. |