Company registration number 10353658 (England and Wales)
JASMINE PROPERTY HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
JASMINE PROPERTY HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
JASMINE PROPERTY HOLDINGS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment property
3
13,688,000
13,688,000
Current assets
Debtors
4
592,233
373,091
Cash at bank and in hand
1,607,642
1,180,818
2,199,875
1,553,909
Creditors: amounts falling due within one year
5
(413,063)
(255,465)
Net current assets
1,786,812
1,298,444
Net assets
15,474,812
14,986,444
Capital and reserves
Called up share capital
200
200
Share premium account
14,462,900
14,462,900
Profit and loss reserves
1,011,712
523,344
Total equity
15,474,812
14,986,444
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 29 July 2024 and are signed on its behalf by:
M. Abdulkader
Director
Company registration number 10353658 (England and Wales)
JASMINE PROPERTY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information
Jasmine Property Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is at St. Martin's Court, 10 Paternoster Row, London, EC4M 7EJ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents the total invoice value, excluding VAT, of rents and service charges receivable from the company's investment properties and is recognised in accordance with the terms of the various leases.
1.3
Investment properties
Investment properties, which are properties held to earn rentals and/or for capital appreciation, are initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently they are measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.
Contracts for the purchase or sale of land and buildings are brought into the financial statements when they are exchanged or when they become unconditional, whichever is the later.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand.
1.5
Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.
JASMINE PROPERTY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.6
Taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
There were no employees during the year or previous year.
3
Investment properties
2023
£
Fair value
At 1 January 2023 and 31 December 2023
13,688,000
Investment properties comprise a number of retail units and stated at the directors' estimate of the fair value at 31 December 2023.
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
492,320
96,024
Other debtors
99,913
277,067
592,233
373,091
5
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
27,088
12,928
Corporation tax
150,193
86,224
Other taxation and social security
42,244
16,813
Other creditors
193,538
139,500
413,063
255,465