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REGISTERED NUMBER: 04160471 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30 November 2023

for

JA Property Limited

JA Property Limited (Registered number: 04160471)






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


JA Property Limited

Company Information
for the Year Ended 30 November 2023







DIRECTOR: J R Adamson





SECRETARY: R E Morson





REGISTERED OFFICE: The Barn Rift Farm
Pittington Lane
Durham
Co Durham
DH6 1BN





REGISTERED NUMBER: 04160471 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
Kepier House
Belmont Business Park
Durham
DH1 1TW

JA Property Limited (Registered number: 04160471)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 39,749 4,272
Investment property 5 8,823,551 8,823,551
8,863,300 8,827,823

CURRENT ASSETS
Debtors 6 117,745 132,277
Cash at bank 436,589 446,350
554,334 578,627
CREDITORS
Amounts falling due within one year 7 685,762 679,550
NET CURRENT LIABILITIES (131,428 ) (100,923 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,731,872

8,726,900

CREDITORS
Amounts falling due after more than one
year

8

(3,672,622

)

(4,085,389

)

PROVISIONS FOR LIABILITIES 10 (278,399 ) (264,098 )
NET ASSETS 4,780,851 4,377,413

CAPITAL AND RESERVES
Called up share capital 11 1 1
Investment property
revaluations 1,012,237 1,012,237
Retained earnings 3,768,613 3,365,175
SHAREHOLDERS' FUNDS 4,780,851 4,377,413

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.

JA Property Limited (Registered number: 04160471)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 May 2024 and were signed by:





J R Adamson - Director


JA Property Limited (Registered number: 04160471)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

JA 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 the provisions of Section 1A 'Small Entities' of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Turnover
Turnover represents net invoiced rents received on investment properties, excluding value added tax.

Income recognition
Rental income is recognised in accordance with the contractual terms of the lease.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets are included at cost less accumulated depreciation and impairments.

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

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit and loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


JA Property Limited (Registered number: 04160471)

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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2022 2,219 - 4,449 6,668
Additions 6,957 42,540 - 49,497
At 30 November 2023 9,176 42,540 4,449 56,165
DEPRECIATION
At 1 December 2022 666 - 1,730 2,396
Charge for year 1,902 10,635 1,483 14,020
At 30 November 2023 2,568 10,635 3,213 16,416
NET BOOK VALUE
At 30 November 2023 6,608 31,905 1,236 39,749
At 30 November 2022 1,553 - 2,719 4,272

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022
and 30 November 2023 8,823,551
NET BOOK VALUE
At 30 November 2023 8,823,551
At 30 November 2022 8,823,551

Investment property was valued on an open market basis by the director on 30 November 2023. The director considers that open market value has not changed significantly.

JA Property Limited (Registered number: 04160471)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 96,483 78,081
Other debtors 1,890 1,890
Directors current account - 31,341
Prepayments and accrued income 19,372 20,965
117,745 132,277

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 348,346 348,347
Hire purchase contracts 8,987 -
Trade creditors 2,176 11,334
Taxation and social security 156,307 149,711
Other creditors 7,217 7,217
Accruals and deferred income 162,729 162,941
685,762 679,550

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 348,347 348,347
Bank loans - 2-5 years 3,199,112 3,547,459
Hire purchase contracts 580 -
Accruals and deferred income 124,583 189,583
3,672,622 4,085,389

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 3,895,805 4,244,153

Bank loans are secured by the way of a fixed and floating charge over all property and undertakings of the company.

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 278,399 264,098

JA Property Limited (Registered number: 04160471)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 December 2022 264,098
Provided during year 14,301
Accelerated capital allowances
Balance at 30 November 2023 278,399

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary £1 1 1

12. 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 R Adamson
Balance outstanding at start of year 31,341 (15,572 )
Amounts advanced 17,875 47,451
Amounts repaid (49,216 ) (538 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 31,341

13. RELATED PARTY DISCLOSURES

There were no related party transactions other than those concluded under normal market conditions, except for those shown below.

2023 2022
£ £
Amounts due from director - 31,341
No interest has been charged.