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REGISTERED NUMBER: 05582870















JOHN MICHAEL PROPERTIES LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023






JOHN MICHAEL PROPERTIES LTD (REGISTERED NUMBER: 05582870)

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










Page

Company information 1

Balance sheet 2

Notes to the financial statements 3


JOHN MICHAEL PROPERTIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







Directors: Mrs J L Cornelius
Mrs J Upson





Registered office: 2 Tower House
Hoddesdon
Hertfordshire
EN11 8UR





Registered number: 05582870





Accountants: Roberts & Co
Chartered Accountants
2 Tower House
Hoddesdon
Hertfordshire
EN11 8UR

JOHN MICHAEL PROPERTIES LTD (REGISTERED NUMBER: 05582870)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £ £ £ £
Fixed assets
Intangible assets 4 - -
Tangible assets 5 82,644 77,510
Investment property 6 249,634 -
332,278 77,510

Current assets
Debtors 7 769 1,129
Cash at bank and in hand 283,265 362,844
284,034 363,973
Creditors
Amounts falling due within one year 8 306,297 281,174
Net current (liabilities)/assets (22,263 ) 82,799
Total assets less current liabilities 310,015 160,309

Creditors
Amounts falling due after more than one
year

9

172,352

-
Net assets 137,663 160,309

Capital and reserves
Called up share capital 10 101 101
Retained earnings 137,562 160,208
Shareholders' funds 137,663 160,309

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 9 April 2024 and were signed on its behalf by:




Mrs J L Cornelius - Director


JOHN MICHAEL PROPERTIES LTD (REGISTERED NUMBER: 05582870)

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


1. Statutory information

John Michael Properties Ltd is a private company, limited by shares , registered in Not specified/Other. 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on reducing balance and 10% 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.

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 2 (2022 - 2 ) .

JOHN MICHAEL PROPERTIES LTD (REGISTERED NUMBER: 05582870)

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


4. Intangible fixed assets
Goodwill
£
Cost
At 1 November 2022
and 31 October 2023 15,000
Amortisation
At 1 November 2022
and 31 October 2023 15,000
Net book value
At 31 October 2023 -
At 31 October 2022 -

5. Tangible fixed assets
Plant and
Land and machinery
buildings etc Totals
£ £ £
Cost
At 1 November 2022 86,139 29,535 115,674
Additions - 12,400 12,400
At 31 October 2023 86,139 41,935 128,074
Depreciation
At 1 November 2022 13,782 24,382 38,164
Charge for year 1,723 5,543 7,266
At 31 October 2023 15,505 29,925 45,430
Net book value
At 31 October 2023 70,634 12,010 82,644
At 31 October 2022 72,357 5,153 77,510

6. Investment property
Total
£
Fair value
Additions 249,634
At 31 October 2023 249,634
Net book value
At 31 October 2023 249,634

7. Debtors: amounts falling due within one year
2023 2022
£ £
Other debtors 769 1,129

JOHN MICHAEL PROPERTIES LTD (REGISTERED NUMBER: 05582870)

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


8. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 17,499 -
Payments on account 267,450 259,223
Taxation and social security 17,471 17,008
Other creditors 3,877 4,943
306,297 281,174

9. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans 172,352 -

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 101,083 -

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
100 Ordinary £1 100 100
1 A Ordinary £1 1 1
101 101

11. Ultimate controlling party

The ultimate controlling party is Mrs J L Cornelius.