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REGISTERED NUMBER: 04372643 (England and Wales)















Unaudited Financial Statements

for the Year Ended 28 February 2023

for

J.B. REAL ESTATE LIMITED

J.B. REAL ESTATE LIMITED (Registered number: 04372643)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


J.B. REAL ESTATE LIMITED

Company Information
for the Year Ended 28 February 2023







DIRECTOR: Mrs J Barker





REGISTERED OFFICE: C/O Relative Accountancy Limited
19 Headrow House
Old Leeds Road
Huddersfield
West Yorkshire
HD1 1SG





REGISTERED NUMBER: 04372643 (England and Wales)

J.B. REAL ESTATE LIMITED (Registered number: 04372643)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £ £ £ £
FIXED ASSETS
Investment property 4 140,000 180,000

CURRENT ASSETS
Cash at bank and in hand 3,115 6,288

CREDITORS
Amounts falling due within one year 5 59,960 66,914
NET CURRENT LIABILITIES (56,845 ) (60,626 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

83,155

119,374

PROVISIONS FOR LIABILITIES 6,578 14,178
NET ASSETS 76,577 105,196

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 6 53,346 85,746
Retained earnings 23,131 19,350
76,577 105,196

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 her 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.

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 by the director and authorised for issue on 29 November 2023 and were signed by:




Mrs J Barker - Director


J.B. REAL ESTATE LIMITED (Registered number: 04372643)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

J.B. REAL ESTATE 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.

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


The level of rounding used in the financial statements is to the nearest £1.

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 properties are properties held to earn rentals or for capital appreciation or both.

Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in the profit and loss in the period in which they arise. Deferred taxation is provided on these gains.

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 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 1 (2022 - 1 ) .

J.B. REAL ESTATE LIMITED (Registered number: 04372643)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

4. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 March 2022 180,000
Revaluations (40,000 )
At 28 February 2023 140,000
NET BOOK VALUE
At 28 February 2023 140,000
At 28 February 2022 180,000

Fair value at 28 February 2023 is represented by:
£
Valuation in 2020 29,923
Valuation in 2021 10,000
Valuation in 2022 60,000
Valuation in 2023 (40,000 )
Cost 80,077
140,000

If had not been revalued would have been included at the following historical cost:

28.2.23 28.2.22
£ £
Cost 80,077 80,077

The completed investment properties are stated at fair value in accordance with the requirements of Section 1A ''Small Entities'' of Financial Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland''.

The investment properties have been revalued by the director at fair value taking into consideration existing tenancy arrangements.

During the year, and decrease in the fair value of investment properties of £40,000 has been included directly in the profit and loss account.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£ £
Taxation and social security 1,590 3,123
Other creditors 58,370 63,791
59,960 66,914

J.B. REAL ESTATE LIMITED (Registered number: 04372643)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

6. RESERVES
Fair value
reserve
£
At 1 March 2022 85,746
Property revaluation (40,000 )
Deferred taxation on
investment property 7,600

At 28 February 2023 53,346