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Company No: 07162634 (England and Wales)

JSS EXETER (DEVELOPMENT LAND AND NEW HOMES) LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

JSS EXETER (DEVELOPMENT LAND AND NEW HOMES) LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

JSS EXETER (DEVELOPMENT LAND AND NEW HOMES) LIMITED

COMPANY INFORMATION

For the financial year ended 30 April 2024
JSS EXETER (DEVELOPMENT LAND AND NEW HOMES) LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 April 2024
DIRECTORS Mr J M Gibbs
Sir C J P Lawson
REGISTERED OFFICE 10 Southernhay West
Exeter
Devon
EX1 1JG
United Kingdom
COMPANY NUMBER 07162634 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Lowin House
Tregolls Road
Truro
Cornwall TR1 2NA
JSS EXETER (DEVELOPMENT LAND AND NEW HOMES) LIMITED

BALANCE SHEET

As at 30 April 2024
JSS EXETER (DEVELOPMENT LAND AND NEW HOMES) LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 0 1,588
0 1,588
Current assets
Debtors 4 61,949 70,639
Cash at bank and in hand 207,075 274,413
269,024 345,052
Creditors: amounts falling due within one year 5 ( 113,518) ( 107,170)
Net current assets 155,506 237,882
Total assets less current liabilities 155,506 239,470
Net assets 155,506 239,470
Capital and reserves
Called-up share capital 6 10,000 10,000
Profit and loss account 145,506 229,470
Total shareholders' funds 155,506 239,470

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of JSS Exeter (Development Land and New Homes) Limited (registered number: 07162634) were approved and authorised for issue by the Board of Directors on 01 August 2024. They were signed on its behalf by:

Mr J M Gibbs
Director
JSS EXETER (DEVELOPMENT LAND AND NEW HOMES) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
JSS EXETER (DEVELOPMENT LAND AND NEW HOMES) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

JSS Exeter (Development Land and New Homes) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 10 Southernhay West, Exeter, Devon, EX1 1JG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

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.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Tangible assets

Office equipment Total
£ £
Cost
At 01 May 2023 14,832 14,832
Disposals ( 1,852) ( 1,852)
At 30 April 2024 12,980 12,980
Accumulated depreciation
At 01 May 2023 13,244 13,244
Charge for the financial year 1,588 1,588
Disposals ( 1,852) ( 1,852)
At 30 April 2024 12,980 12,980
Net book value
At 30 April 2024 0 0
At 30 April 2023 1,588 1,588

4. Debtors

2024 2023
£ £
Trade debtors 33,853 39,678
Amounts owed by associates 15,920 15,910
Other debtors 12,176 15,051
61,949 70,639

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 611 475
Accruals 40,971 28,269
Corporation tax 49,774 56,352
Other taxation and social security 21,967 21,867
Other creditors 195 207
113,518 107,170

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
50 A ordinary shares of £ 100.00 each 5,000 5,000
50 B ordinary shares of £ 100.00 each 5,000 5,000
10,000 10,000

7. Financial commitments

Other financial commitments

2024 2023
£ £
Amounts not provided for in the balance sheet 12,900 735

The company has an operating lease commitment which expires in July 2026.

8. Related party transactions

Transactions with owners holding a participating interest in the entity

Mulberry House Holdings Limited (a company which owns 100% of the ordinary B share capital of the company at the year end)

Dividends were paid to Mulberry House Holdings Limited amounting to £156,018 (2023 £85,087). At the balance sheet date the amount due from Mulberry House Holdings Limited was £15,920 (2023 £15,910).


Little Lanherne Holdings Limited (a company which owns 100% of the ordinary A share capital of the company at the year end)

During the year, dividends were paid to Little Lanherne Holdings Limited amounting to £73,452 (2023 £55,486). At the balance sheet date the amount due to Little Lanherne Holdings Limited was nil (2023 nil).