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REGISTERED NUMBER: 07187267 (England and Wales)










Unaudited Financial Statements

For The Year Ended 31 December 2023

for

San Jaume Property Limited

San Jaume Property Limited (Registered number: 07187267)






Contents of the Financial Statements
For The Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


San Jaume Property Limited

Company Information
For The Year Ended 31 December 2023







DIRECTOR: A F Hinnen





REGISTERED OFFICE: Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN





REGISTERED NUMBER: 07187267 (England and Wales)





ACCOUNTANTS: Kingscott Dix Limited
Chartered Accountants
Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN

San Jaume Property Limited (Registered number: 07187267)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 689 956
Investment property 5 515,924 515,924
516,613 516,880

CURRENT ASSETS
Cash at bank 6,619 2,202

CREDITORS
Amounts falling due within one year 6 499,740 495,248
NET CURRENT LIABILITIES (493,121 ) (493,046 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,492

23,834

PROVISIONS FOR LIABILITIES 4,528 4,508
NET ASSETS 18,964 19,326

CAPITAL AND RESERVES
Called up share capital 2 2
Fair Value Reserve 37,460 37,460
Retained earnings (18,498 ) (18,136 )
SHAREHOLDERS' FUNDS 18,964 19,326

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

San Jaume Property Limited (Registered number: 07187267)

Balance Sheet - continued
31 December 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 21 June 2024 and were signed by:





A F Hinnen - Director


San Jaume Property Limited (Registered number: 07187267)

Notes to the Financial Statements
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

San Jaume Property 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.

Turnover
Turnover represents rental income from the Company's investment property, arising from short term holiday lets, excluding VAT. The Company recognises such revenue on a straight line accruals basis.

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

Furniture and fixtures - 20% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its 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 cash and bank balances are measured at transaction price including transaction costs.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in profit or loss.


San Jaume Property Limited (Registered number: 07187267)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, are recognised at transaction price.

Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

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

San Jaume Property Limited (Registered number: 07187267)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Furniture
& Fixtures
£   
COST
At 1 January 2023
and 31 December 2023 27,739
DEPRECIATION
At 1 January 2023 26,783
Charge for year 267
At 31 December 2023 27,050
NET BOOK VALUE
At 31 December 2023 689
At 31 December 2022 956

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 515,924
NET BOOK VALUE
At 31 December 2023 515,924
At 31 December 2022 515,924

Investment property is shown at most recent revaluation. Any aggregate surplus or deficit arising from changes in the fair value is recognised in the profit and loss account through the income statement. A transfer is made from the profit and loss account to the fair value reserve for this unrealised profit or loss.

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2017 46,247
Cost 469,677
515,924

If investment property had not been revalued it would have been included at the following historical cost:

31.12.23 31.12.22
£    £   
Cost 469,677 469,677

Investment property was valued on an open market basis on 31 December 2018 by director of San Jaume Property Limited .

San Jaume Property Limited (Registered number: 07187267)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Directors' current accounts 499,140 494,648
Accruals and deferred income 600 600
499,740 495,248