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REGISTERED NUMBER: 08801344 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

JJ40 LIMITED

JJ40 LIMITED (REGISTERED NUMBER: 08801344)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


JJ40 LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: J A Allwood
P J Allwood





REGISTERED OFFICE: 10, South End,
Collingham,
Newark,
Nottinghamshire
NG23 7LL





REGISTERED NUMBER: 08801344 (England and Wales)





ACCOUNTANT: David Pattinson
233 London Road
Balderton
Newark
Nottinghamshire
NG24 3HA

JJ40 LIMITED (REGISTERED NUMBER: 08801344)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,166,789 555,500

CURRENT ASSETS
Stocks 110,975 110,975
Debtors 5 4,307 24,562
Cash at bank 512,159 764,594
627,441 900,131
CREDITORS
Amounts falling due within one year 6 651,360 598,846
NET CURRENT (LIABILITIES)/ASSETS (23,919 ) 301,285
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,142,870

856,785

PROVISIONS FOR LIABILITIES 7 6,838 5,197
NET ASSETS 1,136,032 851,588

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 8 1,136,030 851,586
SHAREHOLDERS' FUNDS 1,136,032 851,588

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

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

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 12 March 2024 and were signed on its behalf by:




J A Allwood - Director



P J Allwood - Director


JJ40 LIMITED (REGISTERED NUMBER: 08801344)

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

1. STATUTORY INFORMATION

JJ40 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 receivable, excluding value added tax.

Investment property
Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Stocks
Stock are valued at the lower of cost and net realisable value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement.

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.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 555,500
Additions 611,289
At 31 December 2023 1,166,789
NET BOOK VALUE
At 31 December 2023 1,166,789
At 31 December 2022 555,500

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2017 555,500
Valuation in 2023 611,289
1,166,789

JJ40 LIMITED (REGISTERED NUMBER: 08801344)

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

4. INVESTMENT PROPERTY - continued

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

2023 2022
£    £   
Cost 1,139,437 528,148

Investment property was valued on an open market basis on 23 February 2024 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,721 -
Prepayments 1,586 24,562
4,307 24,562

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 10,768 -
Tax 89,213 54,331
VAT 21,623 14,809
Directors' loan accounts 529,076 529,076
Accruals and deferred income 680 630
651,360 598,846

7. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 6,838 5,197

Deferred
tax
£   
Balance at 1 January 2023 5,197
Provided during year 1,641
Balance at 31 December 2023 6,838

8. RESERVES

Included in retained earnings is £27,352 (2022 - £27,352) of profits which are not available for distribution as they are unrealised.

9. RELATED PARTY DISCLOSURES

The company is controlled by both directors.