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REGISTERED NUMBER: 12710175 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

JLBS PROPERTIES LIMITED

JLBS PROPERTIES LIMITED (REGISTERED NUMBER: 12710175)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JLBS PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: L R Brake
Mrs J C Brake





REGISTERED OFFICE: 367B Church Road
Frampton Cotterell
Bristol
BS36 2AQ





REGISTERED NUMBER: 12710175 (England and Wales)





ACCOUNTANTS: Keller & Co
367b Church Road
Frampton Cotterell
Bristol
BS36 2AQ

JLBS PROPERTIES LIMITED (REGISTERED NUMBER: 12710175)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 - 179
Investment property 5 313,285 300,000
313,285 300,179

CURRENT ASSETS
Debtors 6 709 1,145
Cash at bank 10,735 4,619
11,444 5,764
CREDITORS
Amounts falling due within one year 7 (90,624 ) (89,332 )
NET CURRENT LIABILITIES (79,180 ) (83,568 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

234,105

216,611

CREDITORS
Amounts falling due after more than one
year

8

(165,840

)

(165,850

)

PROVISIONS FOR LIABILITIES (12,350 ) (9,735 )
NET ASSETS 55,915 41,026

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 10 65,000 -
Retained earnings (9,087 ) 41,024
55,915 41,026

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

JLBS PROPERTIES LIMITED (REGISTERED NUMBER: 12710175)

BALANCE SHEET - continued
31 JULY 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 February 2024 and were signed on its behalf by:





L R Brake - Director


JLBS PROPERTIES LIMITED (REGISTERED NUMBER: 12710175)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

JLBS Properties 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

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 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 NIL (2022 - NIL).

JLBS PROPERTIES LIMITED (REGISTERED NUMBER: 12710175)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2022
and 31 July 2023 538
DEPRECIATION
At 1 August 2022 359
Charge for year 179
At 31 July 2023 538
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 179

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2022 300,000
Revaluations 13,285
At 31 July 2023 313,285
NET BOOK VALUE
At 31 July 2023 313,285
At 31 July 2022 300,000

Fair value at 31 July 2023 is represented by:
£   
Valuation in 2022 51,715
Valuation in 2023 13,285
Cost 248,285
313,285

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

2023 2022
£    £   
Cost 248,285 248,285

The investment property was valued on an open market basis on 31 July 2023 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   

JLBS PROPERTIES LIMITED (REGISTERED NUMBER: 12710175)

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

6. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
Other debtors 709 1,145

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 878 -
Other creditors 89,746 89,332
90,624 89,332

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 165,840 165,850

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 165,840 165,850

The bank loan is secured on the property to which it relates.

10. RESERVES
Fair
value
reserve
£   
Revaluation reserves 65,000

At 31 July 2023 65,000

11. RELATED PARTY DISCLOSURES

At the period end date the company owed the director £89,170 (2022 - £88,798) in the form of a directors loan account. This loan was interest free and repayable on demand.