Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-3132023-04-01falseThe principal activity of the company is that of letting and operating of own or leased real estate.3truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11278571 2023-04-01 2024-03-31 11278571 2022-04-01 2023-03-31 11278571 2024-03-31 11278571 2023-03-31 11278571 2022-04-01 11278571 c:Director3 2023-04-01 2024-03-31 11278571 d:ComputerEquipment 2023-04-01 2024-03-31 11278571 d:ComputerEquipment 2024-03-31 11278571 d:ComputerEquipment 2023-03-31 11278571 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11278571 d:FreeholdInvestmentProperty 2023-04-01 2024-03-31 11278571 d:FreeholdInvestmentProperty 2024-03-31 11278571 d:FreeholdInvestmentProperty 2023-03-31 11278571 d:FreeholdInvestmentProperty 2 2023-04-01 2024-03-31 11278571 d:CurrentFinancialInstruments 2024-03-31 11278571 d:CurrentFinancialInstruments 2023-03-31 11278571 d:Non-currentFinancialInstruments 2024-03-31 11278571 d:Non-currentFinancialInstruments 2023-03-31 11278571 d:Non-currentFinancialInstruments 1 2024-03-31 11278571 d:Non-currentFinancialInstruments 1 2023-03-31 11278571 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 11278571 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 11278571 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 11278571 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 11278571 d:ShareCapital 2023-04-01 2024-03-31 11278571 d:ShareCapital 2024-03-31 11278571 d:ShareCapital 2022-04-01 2023-03-31 11278571 d:ShareCapital 2023-03-31 11278571 d:ShareCapital 2022-04-01 11278571 d:OtherMiscellaneousReserve 2023-04-01 2024-03-31 11278571 d:OtherMiscellaneousReserve 2024-03-31 11278571 d:OtherMiscellaneousReserve 2022-04-01 2023-03-31 11278571 d:OtherMiscellaneousReserve 2023-03-31 11278571 d:OtherMiscellaneousReserve 2022-04-01 11278571 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 11278571 d:RetainedEarningsAccumulatedLosses 2024-03-31 11278571 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 11278571 d:RetainedEarningsAccumulatedLosses 2023-03-31 11278571 d:RetainedEarningsAccumulatedLosses 2022-04-01 11278571 d:OtherDeferredTax 2024-03-31 11278571 d:OtherDeferredTax 2023-03-31 11278571 c:OrdinaryShareClass1 2023-04-01 2024-03-31 11278571 c:OrdinaryShareClass1 2024-03-31 11278571 c:OrdinaryShareClass1 2023-03-31 11278571 c:OrdinaryShareClass2 2023-04-01 2024-03-31 11278571 c:OrdinaryShareClass2 2024-03-31 11278571 c:OrdinaryShareClass2 2023-03-31 11278571 c:OrdinaryShareClass3 2023-04-01 2024-03-31 11278571 c:OrdinaryShareClass3 2024-03-31 11278571 c:OrdinaryShareClass3 2023-03-31 11278571 c:PreferenceShareClass1 2023-04-01 2024-03-31 11278571 c:PreferenceShareClass1 2024-03-31 11278571 c:PreferenceShareClass1 2023-03-31 11278571 c:FRS102 2023-04-01 2024-03-31 11278571 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 11278571 c:FullAccounts 2023-04-01 2024-03-31 11278571 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11278571 f:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 11278571










JMN OAK PROPERTIES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
JMN OAK PROPERTIES LIMITED
REGISTERED NUMBER:11278571

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
245

Investment property
 5 
969,505
460,317

  
969,505
460,562

Current assets
  

Debtors: amounts falling due within one year
 6 
2,147
870

Cash at bank and in hand
 7 
9,407
147,260

  
11,554
148,130

Creditors: amounts falling due within one year
 8 
(101,022)
(6,851)

Net current (liabilities)/assets
  
 
 
(89,468)
 
 
141,279

Total assets less current liabilities
  
880,037
601,841

Creditors: amounts falling due after more than one year
 9 
(784,000)
(502,000)

Provisions for liabilities
  

Deferred tax
 10 
(35,635)
(30,060)

  
 
 
(35,635)
 
 
(30,060)

Net assets
  
60,402
69,781


Capital and reserves
  

Called up share capital 
 11 
10,000
10,000

Other reserves
 12 
106,907
90,181

Profit and loss account
 12 
(56,505)
(30,400)

  
60,402
69,781


Page 1

 
JMN OAK PROPERTIES LIMITED
REGISTERED NUMBER:11278571
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr N Tobin
Director

Date: 21 August 2024

The notes on pages 4 to 10 form part of these financial statements.

Page 2

 
JMN OAK PROPERTIES LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024


Called up share capital
Other reserves
Profit and loss account
Total equity

£
£
£
£


At 1 April 2022
10,000
71,431
(18,975)
62,456


Comprehensive income for the year

Profit for the year
-
-
9,872
9,872
Total comprehensive income for the year
-
-
9,872
9,872


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(2,547)
(2,547)

Transfer to/from profit and loss account
-
18,750
(18,750)
-


Total transactions with owners
-
18,750
(21,297)
(2,547)



At 1 April 2023
10,000
90,181
(30,400)
69,781


Comprehensive income for the year

Loss for the year
-
-
(9,379)
(9,379)
Total comprehensive income for the year
-
-
(9,379)
(9,379)

Transfer to/from profit and loss account
-
16,726
(16,726)
-


Total transactions with owners
-
16,726
(16,726)
-


At 31 March 2024
10,000
106,907
(56,505)
60,402


The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
JMN OAK PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

JMN Oak Properties Limited is a private company limited by shares and is incorporated in England and Wales. The address of its registered office is 52 New Town, Uckfield, East Sussex, TN22 5DE. The company registration number is 11278571.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Revenue represents rents and service charges receivable recognised in the period in which the services are provided in accordance with the rental agreement. Rent receivable is invoiced monthly at the beginning of the month for which the rental income relates.

 
2.3

Current and deferred taxation

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
JMN OAK PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Investment property

Investment property is carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.8

Creditors

Short-term creditors are measured at the transaction price.

 
2.9

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
JMN OAK PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.10

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 6

 
JMN OAK PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Computer equipment

£



Cost 


At 1 April 2023
979



At 31 March 2024

979



Depreciation


At 1 April 2023
734


Charge for the year on owned assets
245



At 31 March 2024

979



Net book value



At 31 March 2024
-



At 31 March 2023
245


5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
460,317


Additions at cost
486,887


Surplus on revaluation
22,301



At 31 March 2024
969,505

The 2024 valuations were made by the directors of the company.






Page 7

 
JMN OAK PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Debtors

2024
2023
£
£


Trade debtors
1,280
-

Prepayments and accrued income
867
870

2,147
870



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
9,407
147,260



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
925
632

Other creditors
93,337
1,886

Accruals and deferred income
6,760
4,333

101,022
6,851



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Share capital treated as debt
784,000
502,000

784,000
502,000


Page 8

 
JMN OAK PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Deferred taxation




2024


£






At beginning of year
(30,060)


Charged to profit or loss
(5,575)



At end of year
(35,635)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Investment property revaluation
(35,635)
(30,060)

(35,635)
(30,060)


11.


Share capital

2024
2023
£
£
Shares classified as equity

Allotted, called up and fully paid



6,000 (2023 - 6,000) Ordinary A shares of £1.00 each
6,000
6,000
3,000 (2023 - 3,000) Ordinary B shares of £1.00 each
3,000
3,000
1,000 (2023 - 1,000) Ordinary C shares of £1.00 each
1,000
1,000

10,000

10,000

Page 9

 
JMN OAK PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

11.Share capital (continued)

2024
2023
£
£
Shares classified as debt

Allotted, called up and fully paid



784,000 (2023 - 502,000) Preference shares of £1.00 each
784,000
502,000


The company issued 282,000 preference shares for £282,000 in the year.


12.


Reserves

Other reserves

The other reserves comprise the balance of fair value movements on the investment property net of deferred tax on the gain.

Profit and loss account

The profit and loss account comprises the balance of profits accumulated over the life of the company.


13.


Related party transactions

Included within trade and other creditors due within one year is £94,261 (2023 - £632) due to the directors of the company. This amount is interest free and repayable on demand. 

 
Page 10