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REGISTERED NUMBER: 10771521 (England and Wales)















JPS HOMES (CARDIFF) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2023






JPS HOMES (CARDIFF) LIMITED (REGISTERED NUMBER: 10771521)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JPS HOMES (CARDIFF) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2023







DIRECTORS: Mr P Souto
Mr J Souto





SECRETARY: Mr P Souto





REGISTERED OFFICE: 12 Llanbleddian Court
Cathays
Cardiff
CF24 4BA





REGISTERED NUMBER: 10771521 (England and Wales)





ACCOUNTANTS: Davies Williams Chartered Accountants
Tudor House
16 Cathedral Road
Cardiff
CF11 9LJ

JPS HOMES (CARDIFF) LIMITED (REGISTERED NUMBER: 10771521)

BALANCE SHEET
31ST MARCH 2023

2023 2022
as restated
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 8,110,000 13,163,000

CURRENT ASSETS
Debtors 5 1,351 -
Cash at bank 141,249 166,881
142,600 166,881
CREDITORS
Amounts falling due within one year 6 1,996,061 3,980,879
NET CURRENT LIABILITIES (1,853,461 ) (3,813,998 )
TOTAL ASSETS LESS CURRENT LIABILITIES 6,256,539 9,349,002

CREDITORS
Amounts falling due after more than one year 7 (4,700,000 ) (8,600,000 )

PROVISIONS FOR LIABILITIES (262,500 ) -
NET ASSETS 1,294,039 749,002

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 8 787,500 -
Retained earnings 506,439 748,902
SHAREHOLDERS' FUNDS 1,294,039 749,002

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 in accordance with Section 476 of the Companies Act 2006.

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.

JPS HOMES (CARDIFF) LIMITED (REGISTERED NUMBER: 10771521)

BALANCE SHEET - continued
31ST MARCH 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28th November 2023 and were signed on its behalf by:





Mr P Souto - Director


JPS HOMES (CARDIFF) LIMITED (REGISTERED NUMBER: 10771521)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023


1. STATUTORY INFORMATION

JPS Homes (Cardiff) Limited 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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 Statement of Income and Retained Earnings, 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 tax
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

JPS HOMES (CARDIFF) LIMITED (REGISTERED NUMBER: 10771521)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2022 13,163,000
Disposals (6,103,000 )
Revaluations 1,050,000
At 31st March 2023 8,110,000
NET BOOK VALUE
At 31st March 2023 8,110,000
At 31st March 2022 13,163,000

Fair value at 31st March 2023 is represented by:
£   
Valuation in 2023 1,050,000
Cost 7,060,000
8,110,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Other debtors 1,351 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Taxation and social security 36,504 56,288
Other creditors 1,959,557 3,924,591
1,996,061 3,980,879

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
as restated
£    £   
Bank loans 4,700,000 8,600,000

JPS HOMES (CARDIFF) LIMITED (REGISTERED NUMBER: 10771521)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023


8. RESERVES
Fair
value
reserve
£   
Revaluation in the year 787,500

At 31st March 2023 787,500

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned group companies.