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REGISTERED NUMBER: 02457799 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

JEMCO PROPERTIES LIMITED

JEMCO PROPERTIES LIMITED (REGISTERED NUMBER: 02457799)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JEMCO PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: Miss J M Holmes
Mr J C Holmes





SECRETARIES: Mr W P Holmes
Miss J M Holmes





REGISTERED OFFICE: Valley Mills
Valley Road
Bradford
West Yorkshire
BD1 4RU





REGISTERED NUMBER: 02457799 (England and Wales)





ACCOUNTANTS: Brosnans
Chartered Accountants
Birkby House
Bailiff Bridge
Brighouse
West Yorkshire
HD6 4JJ

JEMCO PROPERTIES LIMITED (REGISTERED NUMBER: 02457799)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investments 4 12,105 -
Investment property 5 4,891,081 4,891,081
4,903,186 4,891,081

CURRENT ASSETS
Debtors 6 74,481 42,976
Cash at bank 778,823 168,057
853,304 211,033
CREDITORS
Amounts falling due within one year 7 (971,025 ) (617,222 )
NET CURRENT LIABILITIES (117,721 ) (406,189 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,785,465

4,484,892

PROVISIONS FOR LIABILITIES (244,275 ) (195,420 )
NET ASSETS 4,541,190 4,289,472

CAPITAL AND RESERVES
Called up share capital 8 2 2
Fair value reserve 9 781,680 781,680
Retained earnings 3,759,508 3,507,790
SHAREHOLDERS' FUNDS 4,541,190 4,289,472

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

JEMCO PROPERTIES LIMITED (REGISTERED NUMBER: 02457799)

BALANCE SHEET - continued
29 FEBRUARY 2024


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 28 March 2024 and were signed on its behalf by:





Mr J C Holmes - Director


JEMCO PROPERTIES LIMITED (REGISTERED NUMBER: 02457799)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Jemco 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

INVESTMENTS IN SUBSIDIARIES
Investments in subsidiary undertakings are recognised at 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.

JEMCO PROPERTIES LIMITED (REGISTERED NUMBER: 02457799)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 12,105
At 29 February 2024 12,105
NET BOOK VALUE
At 29 February 2024 12,105

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023
and 29 February 2024 4,891,081
NET BOOK VALUE
At 29 February 2024 4,891,081
At 28 February 2023 4,891,081

Mr JC Holmes, a director of the company considers the investment property to be shown on the balance sheet at its current market value.

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2015 3,619,500
Valuation in 2017 95,000
Valuation in 2019 518,619
Valuation in 2020 214,464
Valuation in 2021 443,498
4,891,081

JEMCO PROPERTIES LIMITED (REGISTERED NUMBER: 02457799)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 65,908 42,976
Other debtors 8,573 -
74,481 42,976

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 4,256 2,147
Taxation and social security 138,722 63,474
Other creditors 828,047 551,601
971,025 617,222

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary 1 2 2

9. RESERVES
Fair
value
reserve
£   
At 1 March 2023
and 29 February 2024 781,680

10. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors.