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REGISTERED NUMBER: 07083947 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

JB PROPERTY INVESTMENTS LIMITED

JB PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 07083947)

Contents of the Financial Statements
for the year ended 30 November 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JB PROPERTY INVESTMENTS LIMITED

Company Information
for the year ended 30 November 2023







DIRECTOR: J Bannister





REGISTERED OFFICE: Thorne Lancaster Parker
5th Floor Palladium House
1-4 Argyll Street
London
W1F 7TA





REGISTERED NUMBER: 07083947 (England and Wales)





ACCOUNTANTS: Thorne Lancaster Parker
5th Floor
Palladium House
1-4 Argyll Street
London
W1F 7TA

JB PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 07083947)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 103 414
Investment property 5 740,000 677,556
740,103 677,970

CURRENT ASSETS
Debtors 6 2,502 2,502
Cash at bank 3,191 184
5,693 2,686
CREDITORS
Amounts falling due within one year 7 338,834 352,247
NET CURRENT LIABILITIES (333,141 ) (349,561 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

406,962

328,409

CREDITORS
Amounts falling due after more than one
year

8

(172,951

)

(177,016

)

PROVISIONS FOR LIABILITIES 10 (19,975 ) (3,316 )
NET ASSETS 214,036 148,077

CAPITAL AND RESERVES
Called up share capital 11 2 2
Retained earnings 12 214,034 148,075
SHAREHOLDERS' FUNDS 214,036 148,077

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 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.

JB PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 07083947)

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 director and authorised for issue on 13 August 2024 and were signed by:





J Bannister - Director


JB PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 07083947)

Notes to the Financial Statements
for the year ended 30 November 2023


1. STATUTORY INFORMATION

JB Property 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.

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 as modified by the revaluation of certain assets.

Going concern
As at 30th November 2023 the company has net current liabilities of £333,141 which includes amounts owed to the director of £312,582. Accordingly the company is dependent upon the continued support of its director to meet its day to day working capital requirements. The director has confirmed that he will continue to support the company for a period of at least one year from the approval date of these financial statements. On this basis the director considers it appropriate to prepare the financial statements on a going concern basis.

If the company were unable to continue in operational existence for the foreseeable future, adjustments would have to be made to reduce the balance sheet values of assets to their recoverable amounts, and to provide for further liabilities that might arise, and to reclassify fixed assets and long-term liabilities as current assets and liabilities.

Revenue recognition
Consultancy fees
Consultancy represents the total amount receivable, excluding value added tax, for services provided in the ordinary course of business during the period.

Rental income
Rental income consists of gross rental income calculated on an accruals basis and excluding value added tax.

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 - 25% on cost

Investment property
Investment properties are accounted for in accordance with section 16 of FRS 102 whereby investment properties are included at fair value. Gains or losses are recognised in the income statement. Deferred taxation is provided on these gains or losses at the rate expected to apply when the property is sold.

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.


JB PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 07083947)

Notes to the Financial Statements - continued
for the year ended 30 November 2023


2. ACCOUNTING POLICIES - continued
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.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at bank and in hand and short term deposits with an original maturity date of three months or less.

JB PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 07083947)

Notes to the Financial Statements - continued
for the year ended 30 November 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has chosen to adopt Section 11 of FRS 102 in respect of financial instruments as it has only basic financial instruments.

a) Basic financial assets

Trade and other debtors, and bank balances, which are due within one year are initially recognised at transaction price and subsequently carried at amortised cost being the transaction price less any amounts settled and any impairment losses.

At the end of each reporting period basic financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures are initially measured at fair value, which is normally the transaction price.

Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit and loss.

A financial asset is derecognised only when the contractual rights to cash flows expire or are settled, or substantially all the risks and rewards of ownership are transferred to another party, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

b) Basic financial liabilities and equity

Financial liabilities are classified as liabilities and equity instruments 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.

Trade creditors, other loans and other creditors are initially recognised at transaction price and subsequently carried at amortised cost, being transaction price less any amounts settled.

Bank loans are initially recognised at the transaction price, including transaction costs and subsequently measured at amortised cost using the effective interest method. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and other similar charges.

Basic financial liabilities are derecognised when the contractual obligation is discharged, cancelled or expired.

c) Equity instruments

The ordinary share capital of the company is classified as equity and recorded at fair value of the cash or other resources received or receivable, net of direct costs of issuing the equity instruments.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

JB PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 07083947)

Notes to the Financial Statements - continued
for the year ended 30 November 2023


4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 December 2022
and 30 November 2023 12,814 4,379 17,193
DEPRECIATION
At 1 December 2022 12,814 3,965 16,779
Charge for year - 311 311
At 30 November 2023 12,814 4,276 17,090
NET BOOK VALUE
At 30 November 2023 - 103 103
At 30 November 2022 - 414 414

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022 677,556
Revaluations 62,444
At 30 November 2023 740,000
NET BOOK VALUE
At 30 November 2023 740,000
At 30 November 2022 677,556

The director is of the opinion that the the fair value of the property at the year end date is as noted in the accounts.

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2017 9,554
Valuation in 2019 7,900
Valuation in 2023 62,444
Cost 660,102
740,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 2,500 2,500
Called up share capital not paid 2 2
2,502 2,502

JB PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 07083947)

Notes to the Financial Statements - continued
for the year ended 30 November 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans 4,065 2,984
Tax 4,966 1,597
Social security and other taxes - 1,238
Other creditors 9,223 9,223
Directors' current accounts 312,582 330,785
Accruals and deferred income 7,998 6,420
338,834 352,247

The director's current account is interest free and repayable on demand.

Other loans represent CBILs loan which is due for repayment in full in 2030. Interest on this loan is charged at a rate of 2.5% per annum.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans more 5 yrs non-inst 147,500 147,500
Other loans - 1-2 years 4,168 4,065
Other loans - 2-5 years 21,283 25,451
172,951 177,016

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 147,500 147,500

Other loans represent CBILs loan which is due for repayment in full in 2030. Interest on this loan is charged at a rate of 2.5% per annum.

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 147,500 147,500

The bank loan is secured against one of the company's investment property. The facility is an interest only facility where capital amount is due for repayment in full in May 2036.

The company's other investment property is secured by way of a mortgage facility which is in the name of Mr J Bannister.

JB PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 07083947)

Notes to the Financial Statements - continued
for the year ended 30 November 2023


10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 19,975 3,316

Deferred
tax
£   
Balance at 1 December 2022 3,316
Charge on fair value gain 16,659
Balance at 30 November 2023 19,975

11. CALLED UP SHARE CAPITAL

The company's issued share capital at 30 November 2023 is £2 (2022: £2), comprising of 20 ordinary shares of £0.1 (2022: 20 ordinary shares of £0.1) each.

12. RESERVES
Retained
earnings
£   

At 1 December 2022 148,075
Profit for the year 65,959
At 30 November 2023 214,034

Within retained earnings, there is an amount of £59,924 in relation to the fair value surplus on the company's investment property net of deferred tax provision. This amount does not form part of the company's distributable reserves.

13. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2023 and 30 November 2022:

2023 2022
£    £   
J Bannister
Balance outstanding at start of year (330,785 ) (332,222 )
Amounts advanced 48,629 40,725
Amounts repaid (30,426 ) (39,288 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (312,582 ) (330,785 )

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J Bannister.