IRIS Accounts Production v23.3.1.45 04563417 Board of Directors 1.6.22 31.5.23 31.5.23 26.10.23 0 0 false true false false true false Auditors Opinion Fair value model 105612 105612 105612 105612 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure045634172022-05-31045634172023-05-31045634172022-06-012023-05-31045634172020-12-30045634172020-12-312022-05-31045634172022-05-3104563417ns16:EnglandWales2022-06-012023-05-3104563417ns15:PoundSterling2022-06-012023-05-3104563417ns11:Director12022-06-012023-05-3104563417ns11:PrivateLimitedCompanyLtd2022-06-012023-05-3104563417ns11:SmallEntities2022-06-012023-05-3104563417ns11:Audited2022-06-012023-05-3104563417ns11:SmallCompaniesRegimeForDirectorsReport2022-06-012023-05-3104563417ns11:SmallCompaniesRegimeForAccounts2022-06-012023-05-3104563417ns11:FullAccounts2022-06-012023-05-310456341742ns11:Director22022-05-310456341742ns11:Director22020-12-300456341742ns11:Director22023-05-310456341742ns11:Director22022-05-3104563417ns6:CurrentFinancialInstruments2023-05-3104563417ns6:CurrentFinancialInstruments2022-05-3104563417ns6:Non-currentFinancialInstruments2023-05-3104563417ns6:Non-currentFinancialInstruments2022-05-3104563417ns6:ShareCapital2023-05-3104563417ns6:ShareCapital2022-05-3104563417ns6:FurtherSpecificReserve3ComponentTotalEquity2023-05-3104563417ns6:FurtherSpecificReserve3ComponentTotalEquity2022-05-3104563417ns6:RetainedEarningsAccumulatedLosses2023-05-3104563417ns6:RetainedEarningsAccumulatedLosses2022-05-3104563417ns11:RegisteredOffice2022-06-012023-05-3104563417ns6:OwnedOrFreeholdAssetsns6:LandBuildings2022-06-012023-05-3104563417ns6:FurnitureFittings2022-06-012023-05-3104563417ns6:LandBuildings2022-05-3104563417ns6:FurnitureFittings2022-05-3104563417ns6:LandBuildings2022-06-012023-05-3104563417ns6:LandBuildings2023-05-3104563417ns6:FurnitureFittings2023-05-3104563417ns6:LandBuildings2022-05-3104563417ns6:FurnitureFittings2022-05-3104563417ns6:WithinOneYearns6:CurrentFinancialInstruments2023-05-3104563417ns6:WithinOneYearns6:CurrentFinancialInstruments2022-05-3104563417ns6:Secured2023-05-3104563417ns6:Secured2022-05-3104563417ns6:FurtherSpecificReserve3ComponentTotalEquity2022-05-3104563417ns11:Director22022-06-012023-05-3104563417ns11:Director112022-05-3104563417ns11:Director112020-12-3004563417ns11:Director112022-06-012023-05-3104563417ns11:Director112020-12-312022-05-3104563417ns11:Director112023-05-3104563417ns11:Director112022-05-31
REGISTERED NUMBER: 04563417 (England and Wales)















Financial Statements for the Year Ended 31 May 2023

for

JUKES PROPERTIES LIMITED

JUKES PROPERTIES LIMITED (REGISTERED NUMBER: 04563417)






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




Page

Balance Sheet 1

Notes to the Financial Statements 2


JUKES PROPERTIES LIMITED (REGISTERED NUMBER: 04563417)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,494,359 1,433,592
Investment property 5 651,104 650,000
2,145,463 2,083,592

CURRENT ASSETS
Debtors 6 155,047 154,659
Cash at bank 22,479 28,394
177,526 183,053
CREDITORS
Amounts falling due within one year 7 810,097 740,890
NET CURRENT LIABILITIES (632,571 ) (557,837 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,512,892

1,525,755

CREDITORS
Amounts falling due after more than one
year

8

(882,725

)

(1,001,736

)

PROVISIONS FOR LIABILITIES (1,452 ) -
NET ASSETS 628,715 524,019

CAPITAL AND RESERVES
Called up share capital 279 279
Fair value reserve 10 (58,900 ) (58,900 )
Retained earnings 687,336 582,640
SHAREHOLDERS' FUNDS 628,715 524,019

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 26 October 2023 and were signed on its behalf by:





Mr S A Jukes - Director


JUKES PROPERTIES LIMITED (REGISTERED NUMBER: 04563417)

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

1. STATUTORY INFORMATION

Jukes Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04563417

Registered office: 26a Tamworth Street
Lichfield
Staffordshire
WS13 6JJ

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.

The company's year end was changed to 31 May last financial year. As a result, the comparative period, year ended 31 May 2022 covered a 17 month period and will not be entirely comparable.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
The preparation of the financial statements in conformity with generally accepted accounting principles requires the Directors to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results in the future could differ from those estimates. Management considers that certain accounting assumptions relating to taxation and provisions are its critical accounting policies.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Fixtures and fittings - 25% on cost

Directors have reviewed the depreciation policy for all categories of fixed assets and decided that the above rates are a more reasonable reflection of the useful life of the assets and changed the policies accordingly.

Investment property
The Investment propery is held to earn rentals, capital appreciation or both. The Investment property is initially measured at cost, including transaction costs. Subsequently the investment propery whose fair value can be measured reliably without undue cost or effect on an on-going basis is measured at fair value. Gains and losses arising from changes in the fair value are included in profit or loss in the period in which they arise. Any unrealised profits or losses are subsequently transferred to the fair value reserve.


JUKES PROPERTIES LIMITED (REGISTERED NUMBER: 04563417)

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

2. ACCOUNTING POLICIES - continued
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.

Covid-19 and going concern
The company emerged in a strong position post Covid-19, with the effects on the company being limited due to the nature of the market in which it's tenant's operate.
All properties are occupied and producing rental income.
The company will continue to be supported by Jukes Group Limited.
The company has continued to prepare the accounts on a going concern basis and deem this appropriate. The directors do not consider that a material uncertainty about the going concern status currently exists. In making this assessment they have considered the likely trading conditions for a period of twelve months from the date of the approval of these accounts.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 June 2022 1,433,592 - 1,433,592
Additions 54,959 6,800 61,759
At 31 May 2023 1,488,551 6,800 1,495,351
DEPRECIATION
Charge for year - 992 992
At 31 May 2023 - 992 992
NET BOOK VALUE
At 31 May 2023 1,488,551 5,808 1,494,359
At 31 May 2022 1,433,592 - 1,433,592

JUKES PROPERTIES LIMITED (REGISTERED NUMBER: 04563417)

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

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022 650,000
Additions 1,104
At 31 May 2023 651,104
NET BOOK VALUE
At 31 May 2023 651,104
At 31 May 2022 650,000

Fair value at 31 May 2023 is represented by:
£   
Valuation in 2022 (58,900 )
Cost 710,004
651,104

The investment property was valued at open market value by KWB Property Management Ltd, Chartered Valuation Surveyors, on 24 September 2021 and S Jukes, the director, considers this value plus additional costs incurred this financial year to be the appropriate value at 31 May 2023.
If the investment property had not been revalued, it would have been included at £710,004 cost.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Other debtors 155,047 154,659

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 120,000 120,000
Trade creditors 930 9,010
Amounts owed to group undertakings 676,679 605,273
Taxation and social security 8,361 4,286
Other creditors 4,127 2,321
810,097 740,890

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans 882,725 1,001,736

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 252,500 269,236

JUKES PROPERTIES LIMITED (REGISTERED NUMBER: 04563417)

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

9. SECURED DEBTS

The following secured debts are included within creditors:

31.5.23 31.5.22
£    £   
Bank loans 1,002,725 1,121,736

The bank loans are secured by way of charges over Land lying to the North of Elwell Street, West Bromwich; 26 Tamworth Street, Lichfield; Land on the North side of Grovehill Road, Beverley; land lying to the south of The Lindens, Upton-Upon-Severn and an unlimited debenture dated 5 December 2014.

10. RESERVES
Fair
value
reserve
£   
At 1 June 2022
and 31 May 2023 (58,900 )

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Adele Lawton (Senior Statutory Auditor)
for and on behalf of Lawton Bradford Accountants Ltd

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31 May 2023 and the period ended 31 May 2022:

31.5.23 31.5.22
£    £   
Mr S A Jukes and Mrs K A Jukes
Balance outstanding at start of year 105,612 105,612
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 105,612 105,612

Interest is charged at 3% on this loan.

13. RELATED PARTY DISCLOSURES

The investment property is rented to a company owned and controlled by an individual connected with the directors, at below market value. Market value is estimated to be in the region of £32,000 per annum and the company has agreed a rental of £15,000.

14. ULTIMATE CONTROLLING PARTY

The ultimate parent company is Jukes Group Limited .The registered office address is 26a Tamworth Street, Lichfeld, Staffordshire, WS13 6JJ.