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Registration number: 10992570

JJ888 Property Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 October 2023

 

JJ888 Property Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 6

 

JJ888 Property Limited

Company Information

Directors

Dr J S Jeer

Mrs D Jeer

Registered office

26 High Street
Rickmansworth
Hertfordshire
WD3 1ER

 

JJ888 Property Limited

(Registration number: 10992570)
Abridged Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,292

1,477

Investment property

3,395,839

1,912,527

 

3,397,131

1,914,004

Current assets

 

Debtors

-

121,937

Cash at bank and in hand

 

11,759

11,632

 

11,759

133,569

Creditors: Amounts falling due within one year

5.1

(1,177,099)

(704,761)

Net current liabilities

 

(1,165,340)

(571,192)

Total assets less current liabilities

 

2,231,791

1,342,812

Creditors: Amounts falling due after more than one year

(2,148,771)

(1,251,141)

Accruals and deferred income

 

(2,400)

(2,178)

Net assets

 

80,620

89,493

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

80,520

89,393

Shareholders' funds

 

80,620

89,493

For the financial year ending 31 October 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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.

 

JJ888 Property Limited

(Registration number: 10992570)
Abridged Balance Sheet as at 31 October 2023

Approved and authorised by the Board on 26 July 2024 and signed on its behalf by:
 

.........................................
Dr J S Jeer
Director

 

JJ888 Property Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2023

1

General information

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

The address of its registered office is:
26 High Street
Rickmansworth
Hertfordshire
WD3 1ER

These financial statements were authorised for issue by the Board on 26 July 2024.

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 abridged 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 abridged 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 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.

 

JJ888 Property Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture and fittings

10% on cost

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.

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.

3

Staff numbers

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

4

Tangible assets

Investment properties

2023
£

At 1 November

1,912,527

Additions

1,483,312

At 31 October

3,395,839

 

JJ888 Property Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2023

5

Creditors

Creditors: amounts falling due within one year

Creditors include bank loans which are secured of £1,251,141 (2021 -£818,898) .

6

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

7

Related party transactions

At 31 October 2023, the balance owing to JSJ Toothkind Limited was £755,005 (2022 - £514,005). This is a company in which Dr J S Jeer is a director.

At 31 October 2023, the balance owing to Dr J S Jeer, the director of the company was £221,077 (2022 - £33,033 was owed by Dr J S Jeer)..

At 31 October 2023, the balance owing to Jeer Property Investments Limited was £170,000 (2022 - £170,000) . This is a company in which Dr J S Jeer is a director.