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Registration number: 09711078

JJS Properties Limited

Unaudited Financial Statements

for the Period from 1 August 2022 to 31 January 2024

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

JJS Properties Limited

Contents

Company Information

1

Statement of Financial Position

2 to 3

Notes to the Unaudited Financial Statements

4 to 6

 

JJS Properties Limited

Company Information

Directors

A L Jackson

T P Jackson

C D Goulden

Registered office

130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

JJS Properties Limited

Statement of Financial Position as at 31 January 2024

Note

2024
£

2022
£

Fixed assets

 

Investment property

4

-

550,841

Current assets

 

Stocks

5

225

225

Debtors

6

250

-

Cash at bank and in hand

 

16,056

27,374

 

16,531

27,599

Creditors: Amounts falling due within one year

7

(66,378)

(241,818)

Net current liabilities

 

(49,847)

(214,219)

Total assets less current liabilities

 

(49,847)

336,622

Creditors: Amounts falling due after more than one year

7

-

(316,834)

Net (liabilities)/assets

 

(49,847)

19,788

Capital and reserves

 

Called up share capital

4

4

Retained earnings

(49,851)

19,784

Shareholders' (deficit)/funds

 

(49,847)

19,788

For the financial period ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

 

JJS Properties Limited

Statement of Financial Position as at 31 January 2024

Approved and authorised by the Board on 16 August 2024 and signed on its behalf by:
 

.........................................

T P Jackson

Director

Company registration number: 09711078

 

JJS Properties Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2022 to 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of property investment.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The company had net liabilities at 31 January 2024 amounting to £49,847 including cash at bank of £16,056. At 31 January 2024 an amount of £63,081 was due from the company to directors who have agreed not to call for repayment until the company has sufficient working capital.

On the basis of the above, and having made enquiries the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have therefore prepared the financial statements on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable in respect of rental income in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue evenly over the period of the leases or licences.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

JJS Properties Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2022 to 31 January 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investment property

Investment property is carried at fair value as determined annually, with changes in fair value recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company during the period, was 0 (2022 - 0).

 

JJS Properties Limited

Notes to the Unaudited Financial Statements for the Period from 1 August 2022 to 31 January 2024

4

Investment properties

Fair value

2024
£

At 1 August 2022

550,841

Disposals

(550,841)

At 31 January 2024

-

5

Stocks

2024
£

2022
£

Stock

225

225

6

Debtors

2024
£

2022
£

Other debtors

250

-

250

-

7

Creditors

Creditors: amounts falling due within one year

2024
£

2022
£

Trade creditors

3,297

-

Taxation and social security

-

461

Accruals and deferred income

-

1,276

Other creditors

63,081

240,081

66,378

241,818

Creditors: amounts falling due after more than one year

2024
£

2022
£

Bank loans and borrowings

-

316,834

2024
£

2022
£

Due after more than five years

After more than five years not by instalments

-

316,834