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REGISTERED NUMBER: 03679695 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Joel Investments Limited

Joel Investments Limited (Registered number: 03679695)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Joel Investments Limited

Company Information
for the Year Ended 31 October 2023







DIRECTOR: R A Josephs





REGISTERED OFFICE: 67 Westow Street
London
SE19 3RW





REGISTERED NUMBER: 03679695 (England and Wales)





ACCOUNTANTS: Thornton Springer LLP
Chartered Accountants
67 Westow Street
London
United Kingdom
SE19 3RW

Joel Investments Limited (Registered number: 03679695)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £   
FIXED ASSETS
Tangible assets 5 - -
Investment property 6 5,687,948 5,687,948
5,687,948 5,687,948

CURRENT ASSETS
Debtors 7 1,884,670 1,867,762
Cash at bank 1,690 1,710
1,886,360 1,869,472
CREDITORS
Amounts falling due within one year 8 (96,112 ) (94,523 )
NET CURRENT ASSETS 1,790,248 1,774,949
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,478,196

7,462,897

CREDITORS
Amounts falling due after more than one
year

9

(6,163,855

)

(6,131,874

)

PROVISIONS FOR LIABILITIES (84,456 ) (84,456 )
NET ASSETS 1,229,885 1,246,567

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 11 1,347,789 1,347,789
Retained earnings (117,906 ) (101,224 )
SHAREHOLDERS' FUNDS 1,229,885 1,246,567

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Joel Investments Limited (Registered number: 03679695)

Balance Sheet - continued
31 October 2023


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 director and authorised for issue on 30 July 2024 and were signed by:





R A Josephs - Director


Joel Investments Limited (Registered number: 03679695)

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

1. STATUTORY INFORMATION

Joel Investments 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the recognition of certain financial assets and liabilities measured at fair value.

Turnover
Turnover represents income received from the rental of investment properties.

Contract income represents fees generated from property management and consultancy services.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Investment property
Investment properties are initially recognised at cost which includes purchase cost and any directly attributable expenditure. Investment properties are measured at fair value. The surplus or deficit arising on the revaluation of investment properties at their fair values are recognised in the income statement.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Joel Investments Limited (Registered number: 03679695)

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

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 November 2022
and 31 October 2023 2,652
DEPRECIATION
At 1 November 2022
and 31 October 2023 2,652
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022
and 31 October 2023 5,687,948
NET BOOK VALUE
At 31 October 2023 5,687,948
At 31 October 2022 5,687,948

The investment properties are valued annually by the director on an open market existing use basis.

The historical cost of the investment properties amount to £4,255,703 (2022 - £4,255,703 ).

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Other debtors 1,884,670 1,867,762

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 21,805 22,877
Trade creditors 32 997
Taxation and social security 59,159 52,393
Other creditors 15,116 18,256
96,112 94,523

Joel Investments Limited (Registered number: 03679695)

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

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans 15,000 24,000
Other creditors 6,148,855 6,107,874
6,163,855 6,131,874

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Mortgages 6,148,855 6,107,874

10. SECURED DEBTS

The following secured debts are included within creditors:

31.10.23 31.10.22
£    £   
Mortgage advances 6,148,855 6,107,874

The loans are secured over the company's investment properties and all other future assets of the company. Interest is payable at an average of 4.69% per annum. The loans are repayable between 2032 and 2047.

11. RESERVES
Fair
value
reserve
£   
At 1 November 2022
and 31 October 2023 1,347,789

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2023 and 31 October 2022:

31.10.23 31.10.22
£    £   
R A Josephs
Balance outstanding at start of year 794,259 794,767
Amounts advanced 52,118 19,962
Amounts repaid (43,575 ) (20,470 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 802,802 794,259

Interest is charged on the directors' advances at 2.5% per annum.

Joel Investments Limited (Registered number: 03679695)

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

13. RELATED PARTY DISCLOSURES

Other debtors include £523,467 (2022 - £543,039) due from Lower Mash Ltd and £306,473 (2022 - £313,463) due from Joel Developments Ltd, which are connected companies.

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is R.A. Josephs by virtue of his ownership of 100% of the issued ordinary share capital.