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Registration number: 12727291

Jin Lettings Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2023

 

Jin Lettings Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Jin Lettings Ltd

Company Information

Directors

Mr Ernest Edward Reid

Mrs Jintara Reid

Registered office

Brookfield Court Selby Road
Garforth
Leeds
LS25 1NB

Accountants

Clever Accounts Ltd
Brookfield Court Selby Road
Garforth
Leeds
LS25 1NB

 

Jin Lettings Ltd

(Registration number: 12727291)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

211,823

211,823

Current assets

 

Cash at bank and in hand

 

749

726

Creditors: Amounts falling due within one year

(12,185)

(11,723)

Net current liabilities

 

(11,436)

(10,997)

Total assets less current liabilities

 

200,387

200,826

Creditors: Amounts falling due after more than one year

(211,468)

(211,152)

Net liabilities

 

(11,081)

(10,326)

Capital and reserves

 

Retained earnings

(11,081)

(10,326)

Shareholders' deficit

 

(11,081)

(10,326)

For the financial year ending 31 July 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 April 2024 and signed on its behalf by:
 

.........................................

Mr Ernest Edward Reid
Director

 

Jin Lettings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Brookfield Court Selby Road
Garforth
Leeds
LS25 1NB
England

These financial statements were authorised for issue by the Board on 17 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Asset class

Depreciation method and rate

Building

No depreciation required

 

Jin Lettings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

 

Jin Lettings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 August 2022

211,823

211,823

At 31 July 2023

211,823

211,823

Depreciation

Carrying amount

At 31 July 2023

211,823

211,823

At 31 July 2022

211,823

211,823

Included within the net book value of land and buildings above is £211,823 (2022 - £211,823) in respect of freehold land and buildings.
 

5

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

         

6

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

211,468

211,152

2023
£

2022
£

Current loans and borrowings

Bank overdrafts

30

30

 

Jin Lettings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

7

Related party transactions

Loans from related parties

2023

Other related parties
£

Total
£

At start of period

211,152

211,152

Repaid

(4,950)

(4,950)

Interest transactions

5,266

5,266

At end of period

211,468

211,468

2022

Other related parties
£

Total
£

At start of period

210,833

210,833

Repaid

(4,950)

(4,950)

Interest transactions

5,269

5,269

At end of period

211,152

211,152

Terms of loans from related parties

A loan from UX CENTRE LIMITED (Company No 09704315) a company in which Mr Ernest Edward REID is a Shareholder and Director, for £210,000.00 was created in the accounting period ended 31st July 2021. Charge code 1272 7291 0001. Accounting for interest charged and repayments made, the balance stands at £211,468.45 at the 31st July 2023.