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Registration number: 11834276

Blue Jasper Property Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2023

 

Blue Jasper Property Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Blue Jasper Property Limited

Company Information

Directors

A Cross

J Cross

Registered office

590 Green Lanes
Palmers Green
London
N13 5RY

Accountants

Thomas Alexander & Co Ltd
590 Green Lanes
Palmers Green
London
N13 5RY

 

Blue Jasper Property Limited

(Registration number: 11834276)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

905,880

905,880

Current assets

 

Cash at bank and in hand

 

82,769

108,321

Creditors: Amounts falling due within one year

5

(337,132)

(375,197)

Net current liabilities

 

(254,363)

(266,876)

Total assets less current liabilities

 

651,517

639,004

Creditors: Amounts falling due after more than one year

5

(642,529)

(642,529)

Net assets/(liabilities)

 

8,988

(3,525)

Capital and reserves

 

Retained earnings

8,988

(3,525)

Shareholders' funds/(deficit)

 

8,988

(3,525)

For the financial year ending 30 June 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 21 December 2023 and signed on its behalf by:
 

.........................................
A Cross
Director

 

Blue Jasper Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

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

The address of its registered office is:
590 Green Lanes
Palmers Green
London
N13 5RY

These financial statements were authorised for issue by the Board on 21 December 2023.

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.

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

Blue Jasper Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 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.

 

Blue Jasper Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Investment properties

2023
£

At 1 July

905,880

At 30 June

905,880

The investment property is valued based on an assessment of the property and the market by the company directors. The directors are of the opinion that the current market value is the same as the original purchase price, and therefore no revaluation is necessary.

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

331,476

369,876

Taxation and social security

 

3,056

121

Accruals and deferred income

 

2,600

5,200

 

337,132

375,197

Included in other creditors is an amount of £331,476 (2022: £369,876) owing to the directors of the company. The directors do not expect to recall this loan in the next 12 months.

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

642,529

642,529

Long Term Creditors includes long term bank loans which are secured against the investment properties of £642,529. The bank loan is interest only and is not repayable within 5 years.

 

Blue Jasper Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £1 each

2

2

2

2

         

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

642,529

642,529

2023
£

2022
£

Current loans and borrowings

Other borrowings

331,476

369,876

8

Related party transactions

Summary of transactions with other related parties

Directors loan account
 Included in other creditors is an amount of £331,476 (2022: £369,876) owing to the directors of the company. The directors do not expect to recall this loan in the next 12 months.