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REGISTERED NUMBER: 01798039 (England and Wales)















REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MAY 2023

FOR

JESSBANK LIMITED

JESSBANK LIMITED (REGISTERED NUMBER: 01798039)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2023




Page

Company information 1

Report of the directors 2

Report of the accountants 3

Income statement 4

Balance sheet 5

Notes to the financial statements 6


JESSBANK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2023







DIRECTORS: C Carter
Mrs E Lee





REGISTERED OFFICE: 99 Stoke Newington Church Street
London
N16 0UD





REGISTERED NUMBER: 01798039 (England and Wales)





ACCOUNTANTS: Leroy Reid & Co
Chartered Certified Accountants
and Statutory Auditors
299 Northborough Road
Norbury
London
SW16 4TR

JESSBANK LIMITED (REGISTERED NUMBER: 01798039)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31ST MAY 2023

The directors present their report with the financial statements of the company for the year ended 31st May 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of income from rental of properties.

DIRECTORS
The directors shown below have held office during the whole of the period from 1st June 2022 to the date of this report.

C Carter
Mrs E Lee

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mrs E Lee - Director


22nd February 2024

JESSBANK LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
JESSBANK LIMITED


As described on the Balance sheet you are responsible for the preparation of the financial statements for the year ended 31st May 2023 set out on pages four to seven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Leroy Reid & Co
Chartered Certified Accountants
and Statutory Auditors
299 Northborough Road
Norbury
London
SW16 4TR


22nd February 2024

JESSBANK LIMITED (REGISTERED NUMBER: 01798039)

INCOME STATEMENT
FOR THE YEAR ENDED 31ST MAY 2023

2023 2022
£    £   

TURNOVER 55,381 18,925

Administrative expenses (35,533 ) (9,955 )
OPERATING PROFIT and
PROFIT BEFORE TAXATION 19,848 8,970

Tax on profit (3,771 ) (1,704 )
PROFIT FOR THE FINANCIAL YEAR 16,077 7,266

JESSBANK LIMITED (REGISTERED NUMBER: 01798039)

BALANCE SHEET
31ST MAY 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 3 550,000 550,000

CURRENT ASSETS
Debtors 4 79,359 86,618
Cash at bank 168,645 151,830
248,004 238,448
CREDITORS
Amounts falling due within one year 5 (32,974 ) (39,495 )
NET CURRENT ASSETS 215,030 198,953
TOTAL ASSETS LESS CURRENT
LIABILITIES

765,030

748,953

CAPITAL AND RESERVES
Called up share capital 6 100 100
Retained earnings 764,930 748,853
SHAREHOLDERS' FUNDS 765,030 748,953

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

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

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 22nd February 2024 and were signed on its behalf by:





Mrs E Lee - Director


JESSBANK LIMITED (REGISTERED NUMBER: 01798039)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2023

1. STATUTORY INFORMATION

Jessbank 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

3. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1st June 2022
and 31st May 2023 550,000
NET BOOK VALUE
At 31st May 2023 550,000
At 31st May 2022 550,000

The freehold land and building situated at 97 Stoke Newington Church Street was revalued on 15 June 2021 by the Estate Agents Michael NaiK & Co Limited. In their opinion the property was valued at £550,000.

JESSBANK LIMITED (REGISTERED NUMBER: 01798039)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2023

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 79,359 86,618

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 9,257 13,876
Other creditors 23,717 25,619
32,974 39,495

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 1 100 100

7. RELATED PARTY DISCLOSURES

The controlling party is C Carter.