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REGISTERED NUMBER: 10495723 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

Jones Properties (NE) Ltd

Jones Properties (NE) Ltd (Registered number: 10495723)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 5


Jones Properties (NE) Ltd

Company Information
for the Year Ended 30 November 2023







DIRECTORS: F Jones
S J Jones
Mrs K A Le Neveu





SECRETARY:





REGISTERED OFFICE: 100 Osborne Road
Jesmond
Newcastle Upon Tyne
NE2 2TD





REGISTERED NUMBER: 10495723 (England and Wales)





ACCOUNTANTS: Torgersens Chartered Accountants
4 Lansdowne Terrace
Gosforth
Newcastle on Tyne
Tyne and Wear
NE3 1HN

Jones Properties (NE) Ltd (Registered number: 10495723)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 2,909,242 4,234,778

CURRENT ASSETS
Prepayments and accrued income 13,646 16,472
Cash at bank 74,581 1,874
88,227 18,346
CREDITORS
Amounts falling due within one year 6 115,042 321,537
NET CURRENT LIABILITIES (26,815 ) (303,191 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,882,427

3,931,587

CREDITORS
Amounts falling due after more than
one year

7

(1,725,517

)

(2,791,179

)

PROVISIONS FOR LIABILITIES (9,310 ) (24,510 )

ACCRUALS AND DEFERRED INCOME (1,734 ) (1,656 )
NET ASSETS 1,145,866 1,114,242

CAPITAL AND RESERVES
Called up share capital 400 400
Share premium 1,227,978 1,227,978
Fair value reserve 9 104,490 104,490
Retained earnings (187,002 ) (218,626 )
1,145,866 1,114,242

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Jones Properties (NE) Ltd (Registered number: 10495723)

Balance Sheet - continued
30 November 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 Board of Directors and authorised for issue on 8 August 2024 and were signed on its behalf by:





S J Jones - Director


Jones Properties (NE) Ltd (Registered number: 10495723)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Jones Properties (NE) Ltd 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. 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 revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Financial instruments
Financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

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.

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 - NIL ) .

Jones Properties (NE) Ltd (Registered number: 10495723)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

5. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1 December 2022 4,234,778
Disposals (1,325,536 )
At 30 November 2023 2,909,242
NET BOOK VALUE
At 30 November 2023 2,909,242
At 30 November 2022 4,234,778

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 8,000 23,000
Trade creditors 90 -
Taxation and social security 30 -
Other creditors 106,922 298,537
115,042 321,537

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loans 1,725,517 2,791,179

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,713,517 2,705,179

8. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Bank loans 1,733,517 2,814,179

The bank loans are secured against assets of the company.

9. RESERVES
Fair
value
reserve
£   
At 1 December 2022
and 30 November 2023 104,490