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REGISTERED NUMBER: 11887174 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

JAAG PROPERTIES LTD

JAAG PROPERTIES LTD (REGISTERED NUMBER: 11887174)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 August 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JAAG PROPERTIES LTD

COMPANY INFORMATION
for the Year Ended 31 August 2023







DIRECTORS: Mrs J Kakarla
A K Kakarla





REGISTERED OFFICE: Bank Gallery
High Street
Kenilworth
Warwickshire
CV8 1LY





REGISTERED NUMBER: 11887174 (England and Wales)





ACCOUNTANTS: Bernard Rogers & Co
Bank Gallery
High Street
Kenilworth
Warwickshire
CV8 1LY

JAAG PROPERTIES LTD (REGISTERED NUMBER: 11887174)

BALANCE SHEET
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,305 -
Investment property 5 343,582 343,582
345,887 343,582

CURRENT ASSETS
Debtors 6 36,480 7,169
Cash at bank 2,944 2,552
39,424 9,721
CREDITORS
Amounts falling due within one year 7 16,216 9,951
NET CURRENT ASSETS/(LIABILITIES) 23,208 (230 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

369,095

343,352

CREDITORS
Amounts falling due after more than one
year

8

382,202

358,351
NET LIABILITIES (13,107 ) (14,999 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (13,109 ) (15,001 )
SHAREHOLDERS' FUNDS (13,107 ) (14,999 )

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

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

JAAG PROPERTIES LTD (REGISTERED NUMBER: 11887174)

BALANCE SHEET - continued
31 August 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 19 February 2024 and were signed on its behalf by:





A K Kakarla - Director


JAAG PROPERTIES LTD (REGISTERED NUMBER: 11887174)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 August 2023


1. STATUTORY INFORMATION

Jaag Properties Ltd 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.

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 - 25% 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.

Going concern
The financial statements are prepared on a going concern basis. This assumes that the company will continue in operational existence for the foreseeable future, due to the continued support of the directors.

3. EMPLOYEES AND DIRECTORS

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

JAAG PROPERTIES LTD (REGISTERED NUMBER: 11887174)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 3,073
At 31 August 2023 3,073
DEPRECIATION
Charge for year 768
At 31 August 2023 768
NET BOOK VALUE
At 31 August 2023 2,305

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2022
and 31 August 2023 343,582
NET BOOK VALUE
At 31 August 2023 343,582
At 31 August 2022 343,582

The directors consider the investment property value to remain reasonable as at 31 August 2023 .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 36,480 7,169

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 7,152 6,956
Taxation and social security 7,517 1,580
Other creditors 1,547 1,415
16,216 9,951

JAAG PROPERTIES LTD (REGISTERED NUMBER: 11887174)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 211,202 218,351
Other creditors 171,000 140,000
382,202 358,351

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 181,610 188,713

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 218,354 225,307

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, the directors' current account was overdrawn, the maximum amount was £35,784 (2022: £8,044) and the year end balance was £28,274 (2022: £4,862). This has subsequently been partially repaid.

11. RELATED PARTY DISCLOSURES

Mr A K Kakarla and Mrs J Kakarla are also directors of Ingeni IT Services Limited.

At 31 August 2023 creditors included loans made to the company by Ingeni IT Services Limited amounting to £171,000 (2022: £140,000).

12. ULTIMATE CONTROLLING PARTY

The controlling party is the directors.