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REGISTERED NUMBER: 00848778 (England and Wales)








Audited Financial Statements

for the Year Ended

31 March 2024

for

Jay Allied Assets Limited

Jay Allied Assets Limited (Registered number: 00848778)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Jay Allied Assets Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs E A Horwood
S A Wordley





REGISTERED OFFICE: Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT





REGISTERED NUMBER: 00848778 (England and Wales)





AUDITORS: Nicklin Audit Limited
Chartered Accountants
Statutory Auditors
Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT

Jay Allied Assets Limited (Registered number: 00848778)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,025 3,510
Investments 5 - 88,647
Investment property 6 5,868,803 6,013,976
5,871,828 6,106,133

CURRENT ASSETS
Debtors 7 49,427 79,524
Cash at bank 397,452 2,256,037
446,879 2,335,561
CREDITORS
Amounts falling due within one year 8 775,029 414,446
NET CURRENT (LIABILITIES)/ASSETS (328,150 ) 1,921,115
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,543,678

8,027,248

CAPITAL AND RESERVES
Called up share capital 1,016 1,016
Share premium 23,984 23,984
Retained earnings 5,518,678 8,002,248
SHAREHOLDERS' FUNDS 5,543,678 8,027,248

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 Board of Directors and authorised for issue on 24 June 2024 and were signed on its behalf by:





Mrs E A Horwood - Director


Jay Allied Assets Limited (Registered number: 00848778)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Jay Allied Assets 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.

Turnover
Turnover represents net rental income receivable, excluding value added tax.
Income is recognised when the risks and rewards of ownership have been transferred to tenants. This is taken to be the date rent is due in respect of each unit under the terms of the lease.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 10%-33% on cost

Fixed asset investments
Fixed asset investments, which comprise investment properties and a portfolio of shares, are included in the financial statements at cost. This policy is not in accordance with FRS 102 which requires investments to be stated at their most recent valuation. The effects of non-compliance on the financial statements is included in the Report of the Independent Auditors and a qualified opinion has been given in this respect.

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. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Jay Allied Assets Limited (Registered number: 00848778)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 April 2023 104,318 38,762 143,080
Disposals - (33,909 ) (33,909 )
At 31 March 2024 104,318 4,853 109,171
DEPRECIATION
At 1 April 2023 104,317 35,253 139,570
Charge for year - 485 485
Eliminated on disposal - (33,909 ) (33,909 )
At 31 March 2024 104,317 1,829 106,146
NET BOOK VALUE
At 31 March 2024 1 3,024 3,025
At 31 March 2023 1 3,509 3,510

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2023 88,647
Disposals (88,647 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 88,647

Fixed asset investments, which relate to a portfolio of shares, are included in the financial statements at cost, but have not been revalued to their market value at the balance sheet date. This does not comply with the requirements of FRS 102.

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 6,013,976
Disposals (145,173 )
At 31 March 2024 5,868,803
NET BOOK VALUE
At 31 March 2024 5,868,803
At 31 March 2023 6,013,976

Investment property is included in the financial statements at cost. This does not comply with FRS 102 which requires investment properties to be included at their most recent valuation.

Jay Allied Assets Limited (Registered number: 00848778)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 13,238 77,799
Amounts owed by group undertakings 25,778 -
Other debtors 10,411 1,725
49,427 79,524

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 34,356 5,101
Taxation and social security 178,491 103,972
Other creditors 562,182 305,373
775,029 414,446

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Howell FCA (Senior Statutory Auditor)
for and on behalf of Nicklin Audit Limited

10. RELATED PARTY DISCLOSURES

At 31 March 2023 the company owed £500,000 (2022 - £200,000) to its directors.

11. ULTIMATE PARENT COMPANY

The ultimate parent co is Jay Allied Assets (Holdings) Limited