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No description of principal activity
2022-12-01
Sage Accounts Production Advanced 2023 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
09076254
2022-12-01
2023-11-30
09076254
2023-11-30
09076254
2022-11-30
09076254
2021-12-01
2022-11-30
09076254
2022-11-30
09076254
2021-11-30
09076254
core:FurnitureFittings
2022-12-01
2023-11-30
09076254
bus:LeadAgentIfApplicable
2022-12-01
2023-11-30
09076254
bus:Director1
2022-12-01
2023-11-30
09076254
core:LandBuildings
2022-11-30
09076254
core:FurnitureFittings
2022-11-30
09076254
core:WithinOneYear
2023-11-30
09076254
core:WithinOneYear
2022-11-30
09076254
core:AfterOneYear
2023-11-30
09076254
core:AfterOneYear
2022-11-30
09076254
core:LandBuildings
2022-12-01
2023-11-30
09076254
core:ShareCapital
2023-11-30
09076254
core:ShareCapital
2022-11-30
09076254
core:RevaluationReserve
2022-11-30
09076254
core:RetainedEarningsAccumulatedLosses
2023-11-30
09076254
core:RetainedEarningsAccumulatedLosses
2022-11-30
09076254
core:LandBuildings
2022-11-30
09076254
bus:SmallEntities
2022-12-01
2023-11-30
09076254
bus:AuditExemptWithAccountantsReport
2022-12-01
2023-11-30
09076254
bus:FullAccounts
2022-12-01
2023-11-30
09076254
bus:SmallCompaniesRegimeForAccounts
2022-12-01
2023-11-30
09076254
bus:PrivateLimitedCompanyLtd
2022-12-01
2023-11-30
COMPANY REGISTRATION NUMBER:
09076254
Filleted Unaudited Financial Statements |
|
Year ended 30 November 2023
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements |
1 |
|
|
Statement of financial position |
2 to 3 |
|
|
Notes to the financial statements |
4 to 6 |
|
|
Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of
JP Lettings Limited |
|
Year ended 30 November 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of JP Lettings Limited for the year ended 30 November 2023, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of JP Lettings Limited, as a body, in accordance with the terms of our engagement letter dated 6 March 2023. Our work has been undertaken solely to prepare for your approval the financial statements of JP Lettings Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than JP Lettings Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that JP Lettings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of JP Lettings Limited. You consider that JP Lettings Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of JP Lettings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
HEBBLETHWAITES
Chartered Accountants
2 Westbrook Court
Sharrow Vale Road
Sheffield
S11 8YZ
8 March 2024
Statement of Financial Position |
|
30 November 2023
Fixed assets
Tangible assets |
4 |
– |
392,991 |
|
|
|
|
Current assets
Debtors |
5 |
– |
702 |
Cash at bank and in hand |
295,762 |
19,413 |
|
--------- |
-------- |
|
295,762 |
20,115 |
|
|
|
|
Creditors: amounts falling due within one year |
6 |
20,831 |
32,683 |
|
--------- |
-------- |
Net current assets/(liabilities) |
274,931 |
(
12,568) |
|
--------- |
--------- |
Total assets less current liabilities |
274,931 |
380,423 |
|
|
|
|
Creditors: amounts falling due after more than one year |
7 |
214,350 |
323,764 |
|
|
|
|
Provisions
Taxation including deferred tax |
– |
10,045 |
|
--------- |
--------- |
Net assets |
60,581 |
46,614 |
|
--------- |
--------- |
|
|
|
Statement of Financial Position (continued) |
|
30 November 2023
Capital and reserves
Called up share capital |
100 |
100 |
Revaluation reserve |
– |
42,822 |
Profit and loss account |
60,481 |
3,692 |
|
-------- |
-------- |
Shareholders funds |
60,581 |
46,614 |
|
-------- |
-------- |
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
6 March 2024
, and are signed on behalf of the board by:
Company registration number:
09076254
Notes to the Financial Statements |
|
Year ended 30 November 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Westbrook Court, Sharrow Vale Road, Sheffield, South Yorkshire, S11 8YZ.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents the charges levied for rent during the period.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Fixture and fittings |
- |
25% straight line |
|
|
|
|
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4.
Tangible assets
|
Investment property |
Fixtures and fittings |
Total |
|
£ |
£ |
£ |
Cost |
|
|
|
At 1 December 2022 |
392,991 |
7,478 |
400,469 |
Disposals |
(
392,991) |
(
7,478) |
(
400,469) |
|
--------- |
------- |
--------- |
At 30 November 2023 |
– |
– |
– |
|
--------- |
------- |
--------- |
Depreciation |
|
|
|
At 1 December 2022 |
– |
7,478 |
7,478 |
Disposals |
– |
(
7,478) |
(
7,478) |
|
--------- |
------- |
--------- |
At 30 November 2023 |
– |
– |
– |
|
--------- |
------- |
--------- |
Carrying amount |
|
|
|
At 30 November 2023 |
– |
– |
– |
|
--------- |
------- |
--------- |
At 30 November 2022 |
392,991 |
– |
392,991 |
|
--------- |
------- |
--------- |
|
|
|
|
5.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Other debtors |
– |
702 |
|
---- |
---- |
|
|
|
6.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Corporation tax |
9,109 |
1,183 |
Other creditors |
11,722 |
31,500 |
|
-------- |
-------- |
|
20,831 |
32,683 |
|
-------- |
-------- |
|
|
|
7.
Creditors:
amounts falling due after more than one year
|
2023 |
2022 |
|
£ |
£ |
Other creditors |
214,350 |
323,764 |
|
--------- |
--------- |
|
|
|
8.
Directors' advances, credits and guarantees
A loan account exists as between one of the directors, Mrs L J Parry, and the company. At year end date of 30 November 2023, the company was indebted to the director, in this regard, in the sum of £224,350. Of this total, it has been agreed that no more than £10,000 will be repaid within twelve months of the period end date. Interest is not being applied to the loan. A loan account exists as between one of the directors,
Miss J Parry
, and the company. At the end of the year, on 30 November 2023, the closing loan balance, owing by the company to the director, amounts to £522, having decreased by £18,978 during the year. There are no formal repayment terms applicable to this loan. Interest is not being applied to the loan.