Registered number
11788115
J Benjamin Property Ltd
Abridged Accounts
31 January 2024
J Benjamin Property Ltd
Registered number: 11788115
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 310,000 310,000
Current assets
Cash at bank and in hand 12,164 8,566
Creditors: amounts falling due within one year 4 (97,896) (93,176)
Net current liabilities (85,732) (84,610)
Total assets less current liabilities 224,268 225,390
Creditors: amounts falling due after more than one year 5 (190,815) (194,319)
Provisions for liabilities (5,920) (5,920)
Net assets 27,533 25,151
Capital and reserves
Called up share capital 100 100
Revaluation reserve 7 25,239 25,239
Profit and loss account 2,194 (188)
Shareholder's funds 27,533 25,151
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
James Benjamin
Director
Approved by the board on 5 August 2024
J Benjamin Property Ltd
Notes to the Accounts
for the year ended 31 January 2024
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 rental income incurred during the year from investment properties held.

Revenue from the provision of rental properties is recognised over the period of rent, when and to the extent that, the company obtains the right to consideration in exchange for services provided.
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:
Fixtures, fittings, tools and equipment over 4 years
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 February 2023 310,000 429 310,429
At 31 January 2024 310,000 429 310,429
Depreciation
At 1 February 2023 - 429 429
At 31 January 2024 - 429 429
Net book value
At 31 January 2024 310,000 - 310,000
At 31 January 2023 310,000 - 310,000
Freehold land and buildings: 2024 2023
£ £
Historical cost 278,841 278,841
Cumulative depreciation based on historical cost - -
278,841 278,841
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in the profit and loss account.

Jan 20 - £124,556 Cost
Jan 21 - £124,556 Cost
Jan 22 - £278,841Cost
Jan 23 - £278,841 Cost
£31,159 fair value adjustment
£310,000 fair value revaluation

Fair value revaluations are based on valuations provided by the director and are recognised to be in line with current market conditions.
4 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 785 -
Mortgages < 12 months 10,450 6,946
Other creditors 86,661 86,230
97,896 93,176
5 Creditors: amounts falling due after one year 2024 2023
£ £
Mortgages > 12 months 190,815 194,319
6 Loans 2024 2023
£ £
Creditors include:
Secured mortgages 201,265 201,265
Buy to let mortgages secured on rental properties. These are split over short term and long term creditors above.
7 Revaluation reserve 2024 2023
£ £
At 1 February 2023 25,239 -
Gain on revaluation of land and buildings - 31,159
Deferred taxation arising on the revaluation of land and buildings - (5,920)
At 31 January 2024 25,239 25,239
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
James Benjamin
Directors Loan Account 85,329 432 - 85,761
85,329 432 - 85,761
The director operates a current loan account with the company, which is debited with payments made by the company on behalf of the director and credited with funds introduced and undrawn director's fees. At the year end the amount outstanding to the director was £85,761. This amount being included in Creditors: amounts falling due within one year.
9 Called up share capital
£ £
Allotted, issued and fully paid:
Number: Nominal value
Ordinary shares 100 £1 100 100
100 100
10 Controlling party
The ultimate controlling pary with 100% shareholding is Mr J Benjamin.
11 Other information
J Benjamin Property Ltd is a private company limited by shares and incorporated in Wales. Its registered office is:
17 Allt-Yr-Yn Heights
Newport
Gwent
NP20 5DX
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