2022-06-012023-05-312023-05-31false13408905JSOLUTIONS PROPERTY 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JSOLUTIONS PROPERTY LTD

Registered Number
13408905
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2023

JSOLUTIONS PROPERTY LTD
Company Information
for the year from 1 June 2022 to 31 May 2023

Director

CROSS, Geraldine Elizabeth

Registered Address

5-11 The Avenue High Street
Bridgwater
TA6 3BW

Registered Number

13408905 (England and Wales)
JSOLUTIONS PROPERTY LTD
Balance Sheet as at
31 May 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Investment property3238,000266,000
238,000266,000
Current assets
Debtors352-
Cash at bank and on hand482438
834438
Creditors amounts falling due within one year4(59,595)(59,366)
Net current assets (liabilities)(58,761)(58,928)
Total assets less current liabilities179,239207,072
Creditors amounts falling due after one year5(151,074)(151,074)
Provisions for liabilities6(7,042)(10,672)
Net assets21,12345,326
Capital and reserves
Called up share capital11
Profit and loss account21,12245,325
Shareholders' funds21,12345,326
The financial statements were approved and authorised for issue by the Director on 2 February 2024, and are signed on its behalf by:
CROSS, Geraldine Elizabeth
Director
Registered Company No. 13408905
JSOLUTIONS PROPERTY LTD
Notes to the Financial Statements
for the year ended 31 May 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in the fair value are recognised in profit or loss.
2.Average number of employees

20232022
Average number of employees during the year00
3.Investment property

£
Fair value at 01 June 22266,000
Fair value adjustments(28,000)
At 31 May 23238,000
4.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables600-
Other creditors58,39558,766
Accrued liabilities and deferred income600600
Total59,59559,366
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
5.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts151,074151,074
Total151,074151,074
6.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)7,04210,672
Total7,04210,672