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REGISTERED NUMBER: 03513798 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

J.P. (Sussex) Limited

J.P. (Sussex) Limited (Registered number: 03513798)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


J.P. (Sussex) Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: J F Pudney
C M Pudney





SECRETARY: C M Pudney





REGISTERED OFFICE: 4 The Courtyard
Holmsted Farm
Staplefield Road
Haywards Heath
West Sussex
RH17 5JF





REGISTERED NUMBER: 03513798 (England and Wales)





ACCOUNTANTS: Warren House Accountants Limited
4 The Courtyard
Holmsted Farm
Staplefield Road
Haywards Heath
RH17 5JF

J.P. (Sussex) Limited (Registered number: 03513798)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 575,000 575,000

CURRENT ASSETS
Debtors 5 94,630 46,615
Cash at bank 5,625 49,222
100,255 95,837
CREDITORS
Amounts falling due within one year 6 45,676 30,819
NET CURRENT ASSETS 54,579 65,018
TOTAL ASSETS LESS CURRENT
LIABILITIES

629,579

640,018

PROVISIONS FOR LIABILITIES 87,837 66,756
NET ASSETS 541,742 573,262

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 7 263,514 284,595
Retained earnings 278,128 288,567
541,742 573,262

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

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

J.P. (Sussex) Limited (Registered number: 03513798)

Balance Sheet - continued
31 March 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 January 2024 and were signed on its behalf by:





J F Pudney - Director


J.P. (Sussex) Limited (Registered number: 03513798)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

J.P. (Sussex) 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 (£).


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 represents net invoiced rent receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance

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

Investment properties
Investment properties are held a their current open market value and are reviewed on an annual basis by the directors based on market conditions for any impairment. Any increase or decrease in value in value is shown as a movement within the impairment reserve with the appropriate adjustment to the deferred tax that would arise if the property were sold at its revalued amount.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other
administrative expenses.

J.P. (Sussex) Limited (Registered number: 03513798)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - NIL ) .

4. TANGIBLE FIXED ASSETS
Freehold Fixtures
investment and
property fittings Totals
£    £    £   
COST OR VALUATION
At 1 April 2022
and 31 March 2023 575,000 7,603 582,603
DEPRECIATION
At 1 April 2022
and 31 March 2023 - 7,603 7,603
NET BOOK VALUE
At 31 March 2023 575,000 - 575,000
At 31 March 2022 575,000 - 575,000

Cost or valuation at 31 March 2023 is represented by:

Freehold Fixtures
investment and
property fittings Totals
£    £    £   
Valuation in 2010 216,351 - 216,351
Valuation in 2020 135,000 - 135,000
Cost 223,649 7,603 231,252
575,000 7,603 582,603

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 7,630 -
Amounts owed by associates 87,000 -
Other debtors - 46,615
94,630 46,615

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 6,467 6,468
Taxation and social security 8,674 9,139
Other creditors 30,535 15,212
45,676 30,819

J.P. (Sussex) Limited (Registered number: 03513798)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. RESERVES
Fair
value
reserve
£   
At 1 April 2022 284,595
Revaluation in year (21,081 )

At 31 March 2023 263,514

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end the directors were owed the following amounts by the company:

C M Pudney - £8,819 (2022: £4,065)
J F Pudney - £8,068 (2022: £3,314)

The amounts are unsecured, interest free and payable on demand.

9. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors.