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REGISTERED NUMBER: 04604237 (England and Wales)










Unaudited Financial Statements

for the Period 1 December 2022 to 28 November 2023

for

JSP Estates Limited

JSP Estates Limited (Registered number: 04604237)






Contents of the Financial Statements
for the Period 1 December 2022 to 28 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JSP Estates Limited

Company Information
for the Period 1 December 2022 to 28 November 2023







DIRECTOR: J S Powell





SECRETARY: R Powell





REGISTERED OFFICE: Airport House
Suite 43-45
Purley Way
Croydon
Surrey
CR0 0XZ





REGISTERED NUMBER: 04604237 (England and Wales)





ACCOUNTANTS: Ledger Sparks Limited
Airport House
Suite 43-45
Purley Way
Croydon
CR0 0XZ

JSP Estates Limited (Registered number: 04604237)

Balance Sheet
28 November 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,184 1,578
Investment property 5 1,898,232 1,808,479
1,899,416 1,810,057

CURRENT ASSETS
Debtors 6 104,850 81,171
Cash at bank 4,421 73,817
109,271 154,988
CREDITORS
Amounts falling due within one year 7 (185,725 ) (75,886 )
NET CURRENT (LIABILITIES)/ASSETS (76,454 ) 79,102
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,822,962

1,889,159

CREDITORS
Amounts falling due after more than one year 8 (1,318,093 ) (1,332,659 )

PROVISIONS FOR LIABILITIES 9 (57,975 ) (58,041 )
NET ASSETS 446,894 498,459

CAPITAL AND RESERVES
Called up share capital 40,000 40,000
Retained earnings 10 406,894 458,459
446,894 498,459

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28 November 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 28 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.

JSP Estates Limited (Registered number: 04604237)

Balance Sheet - continued
28 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 August 2024 and were signed by:





J S Powell - Director


JSP Estates Limited (Registered number: 04604237)

Notes to the Financial Statements
for the Period 1 December 2022 to 28 November 2023

1. STATUTORY INFORMATION

JSP Estates 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The principal activity of the company continued to be that of rental of properties.

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 amounts receivable for goods and services net of trade discounts.

TANGIBLE FIXED ASSETS
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment 25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

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 only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

TAXATION
The tax expense represents the sum of the tax currently payable and deferred tax.

CURRENT TAX
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.

DEFERRED TAX
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date.

JSP Estates Limited (Registered number: 04604237)

Notes to the Financial Statements - continued
for the Period 1 December 2022 to 28 November 2023

2. ACCOUNTING POLICIES - continued

PENSION
DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution pension plan for its employees. A defined contribution pension plan is a plan under which the Company pays fixed contributions into separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of Income and Retained Earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the company are held separately from the Company in an independently administered fund.

PROVISIONS FOR LIABILITIES
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Statement of Income and Retained Earnings in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance sheet.

GOING CONCERN
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 December 2022
and 28 November 2023 4,445
DEPRECIATION
At 1 December 2022 2,867
Charge for period 394
At 28 November 2023 3,261
NET BOOK VALUE
At 28 November 2023 1,184
At 30 November 2022 1,578

JSP Estates Limited (Registered number: 04604237)

Notes to the Financial Statements - continued
for the Period 1 December 2022 to 28 November 2023

5. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 December 2022 1,808,479
Additions 89,753
At 28 November 2023 1,898,232
NET BOOK VALUE
At 28 November 2023 1,898,232
At 30 November 2022 1,808,479

Investment property comprises of 4 properties. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties by directors. Deferred tax has been calculated on the revalued amounts and provided for within the financial statements.

Cost or valuation at 28 November 2023 is represented by:
£   
Valuation in 2018 239,435
Valuation in 2019 99,999
Valuation in 2020 56,292
Valuation in 2021 63,005
Cost 1,439,501
1,898,232

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by associates 103,500 81,078
Other debtors 1,350 93
104,850 81,171

The directors consider the carrying value of trade and other receivables approximate to their fair values.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 19,726 19,366
Amounts owed to associates 13,441 347
Taxation and social security 729 (397 )
Other creditors 151,829 56,570
185,725 75,886

The directors consider the carrying amounts of current liabilities approximate to their fair values.

JSP Estates Limited (Registered number: 04604237)

Notes to the Financial Statements - continued
for the Period 1 December 2022 to 28 November 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 57,489 72,058
Other creditors 1,260,604 1,260,601
1,318,093 1,332,659

The directors consider the carrying amounts of long term liabilities approximate to their fair values.

Securities Provided for Long Term Loans as follows:-
1. Property at 72a Brigstock Road, Thornton Heath, Croydon
2. Property at 4 Bensham Manor Road, Thornton Heath, Croydon
3. Property at 130 Spilsby Road, Boston

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 57,975 58,041

Deferred
tax
£   
Balance at 1 December 2022 58,041
Provided during period (66 )
Balance at 28 November 2023 57,975

10. RESERVES

PROFIT AND LOSS RESERVES

Retained earnings consist of fair value adjustments and deferred tax in relation to investment properties.

At the balance sheet date the reserves therefore comprise of the following:

Distributable reserves - £125,249
Non Distributable reserves - £281,645

11. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £1,048 (2022 - £903).

Contributions totalling £201 (2022 - £201) were payable to fund at the balance sheet date and are included in other creditors.

JSP Estates Limited (Registered number: 04604237)

Notes to the Financial Statements - continued
for the Period 1 December 2022 to 28 November 2023

12. RELATED PARTY DISCLOSURES

At the balance sheet date included in short term other creditors are amounts payable to the director, J Powell of £150,830 (2022 - £56,320) for short term and of £50,000 (2022 - £50,000) for long term. This loan is interest free and repayable on demand.

At the balance sheet date included in amounts owed by associates are amount due from Powell Estates Ltd of £103,500 (2022 - £80,000). Both companies are under the common control of J Powell.

At the balance sheet date included in amounts owed to associates are amount due to Green & Tidy Ltd of £11,622 (2022 - £347). Both companies are under the common control of J Powell.

At the balance sheet date included in amounts owed to associates are amount due to 18 Approach Road Service Charge of £1,819 (2022 - £1,078 included in amounts owed by associates).