Company Registration No. 12619283 (England and Wales)
Jent Property Ltd
Unaudited accounts
for the year ended 31 May 2023
Jent Property Ltd
Unaudited accounts
Contents
Jent Property Ltd
Company Information
for the year ended 31 May 2023
Directors
Emma Clemens
Nicholas Roger Clemens
Company Number
12619283 (England and Wales)
Registered Office
First Floor
129 High Street
Guildford
GU1 3AA
UK
Jent Property Ltd
Statement of financial position
as at 31 May 2023
Inventories
139,200
96,000
Cash at bank and in hand
158,198
-
Creditors: amounts falling due within one year
(258,342)
(100,000)
Net current assets
633,256
99
Called up share capital
100
100
Profit and loss account
633,256
(1)
Shareholders' funds
633,356
99
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 8 February 2024 and were signed on its behalf by
Nicholas Roger Clemens
Director
Company Registration No. 12619283
Jent Property Ltd
Notes to the Accounts
for the year ended 31 May 2023
Jent Property Ltd is a private company, limited by shares, registered in England and Wales, registration number 12619283. The registered office is First Floor, 129 High Street, Guildford, GU1 3AA, UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
In the opinion of the directors, the company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Investments in subsidiaries are measured at cost less accumulated impairment.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Jent Property Ltd
Notes to the Accounts
for the year ended 31 May 2023
Judgements in applying accounting policies and key sources of estimation uncertainty
The preparation of financial statements in compliance with FRS 102 Section 1A requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies. In preparing these financial statements, the directors have made the following judgements:
Determine whether there are indicators of impairment of the company's investment and inventories. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.
4
Investments
Subsidiary undertakings
Valuation at 1 June 2022
-
Valuation at 31 May 2023
100
The company holds 100% of the ordinary share capital of Solent View Homes Ltd, a company registered in England and Wales, whose principal activity is property development. The registered office of Solent View Homes Ltd is the same as that of this company, which is shown on the company information page.
Amounts falling due within one year
Amounts due from group undertakings etc.
534,200
-
Other debtors
60,000
4,099
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
158,342
-
Other creditors
100,000
100,000
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Director's loan account
4,099
410,485
414,584
-
Jent Property Ltd
Notes to the Accounts
for the year ended 31 May 2023
8
Transactions with related parties
Included within other creditors is an amount of £100,000 (2022: £100,000) due to Provision Events Group Limited. This company is a related by party due to common ownership.
The company has taken advantage of the exemption available in Section 33.1A of FRS 102 not to disclose transactions with any wholly owned subsidiary undertaking of the group.
9
Average number of employees
During the year the average number of employees was 2 (2022: 2).