Registered number
13645246
JP Property (Peterborough) Limited
Filleted Accounts
31 October 2023
JP Property (Peterborough) Limited
Registered number: 13645246
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 374,423 263,134
Current assets
Debtors 4 130,131 119,978
Cash at bank and in hand 3,313 50,855
133,444 170,833
Creditors: amounts falling due within one year 5 (341,682) (249,646)
Net current liabilities (208,238) (78,813)
Total assets less current liabilities 166,185 184,321
Creditors: amounts falling due after more than one year 6 (187,500) (187,500)
Net liabilities (21,315) (3,179)
Capital and reserves
Called up share capital 2 2
Profit and loss account (21,317) (3,181)
Shareholders' funds (21,315) (3,179)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Philip Graeme Rodgman
Director
Approved by the board on 24 July 2024
JP Property (Peterborough) Limited
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Investment property held at fair value
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 November 2022 263,134
Additions 111,289
At 31 October 2023 374,423
Depreciation
At 31 October 2023 -
Net book value
At 31 October 2023 374,423
At 31 October 2022 263,134
4 Debtors 2023 2022
£ £
Other debtors 130,131 119,978
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 91,824 -
Directors account 246,775 248,146
Other creditors 3,083 1,500
341,682 249,646
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 187,500 187,500
7 Loans 2023 2022
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 279,324 187,500
Secured bank loans 279,324 187,500
Mortgages are secured over the properties concerned
8 Related party transactions
The balance of the directors' loans at the year end was £246,775 (2022: £248,146). Advances of £5,992 and repayments of £4,621 were made during the period. No amounts were written off.
9 Other information
JP Property (Peterborough) Limited is a private company limited by shares and incorporated in England. Its registered office is:
Sapphire Heights Courtyard
31 Tenby Street North
Birmingham
West Midlands
B1 3ES
JP Property (Peterborough) Limited 13645246 false 2022-11-01 2023-10-31 2023-10-31 VT Final Accounts April 2022 Philip Graeme Rodgman No description of principal activity 13645246 2021-09-27 2022-10-31 13645246 core:WithinOneYear 2022-10-31 13645246 core:AfterOneYear 2022-10-31 13645246 core:ShareCapital 2022-10-31 13645246 core:RetainedEarningsAccumulatedLosses 2022-10-31 13645246 2022-11-01 2023-10-31 13645246 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 13645246 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 13645246 bus:Director40 2022-11-01 2023-10-31 13645246 1 2022-11-01 2023-10-31 13645246 2 2022-11-01 2023-10-31 13645246 core:LandBuildings 2022-11-01 2023-10-31 13645246 countries:England 2022-11-01 2023-10-31 13645246 bus:FRS102 2022-11-01 2023-10-31 13645246 bus:FullAccounts 2022-11-01 2023-10-31 13645246 2023-10-31 13645246 core:WithinOneYear 2023-10-31 13645246 core:AfterOneYear 2023-10-31 13645246 core:ShareCapital 2023-10-31 13645246 core:RetainedEarningsAccumulatedLosses 2023-10-31 13645246 core:LandBuildings 2023-10-31 13645246 2022-10-31 13645246 core:LandBuildings 2022-10-31 iso4217:GBP xbrli:pure