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REGISTERED NUMBER: 09312250 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

JAMBEL PROPERTY LTD

JAMBEL PROPERTY LTD (REGISTERED NUMBER: 09312250)






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


JAMBEL PROPERTY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: Mr J M Pye
Mrs B E Pye





REGISTERED OFFICE: 54 Thorpe Road
Norwich
Norfolk
NR1 1RY





REGISTERED NUMBER: 09312250 (England and Wales)





ACCOUNTANTS: Berry & Warren Ltd
Chartered Accountants
54 Thorpe Road
Norwich
Norfolk
NR1 1RY

JAMBEL PROPERTY LTD (REGISTERED NUMBER: 09312250)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,765 3,856
Investment property 5 1,983,864 1,917,905
1,986,629 1,921,761

CURRENT ASSETS
Stocks 26,236 -
Debtors 6 19,833 13,557
Cash at bank and in hand 19,320 17,703
65,389 31,260
CREDITORS
Amounts falling due within one year 7 514,115 607,325
NET CURRENT LIABILITIES (448,726 ) (576,065 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,537,903

1,345,696

CREDITORS
Amounts falling due after more than one
year

8

(634,380

)

(469,099

)

PROVISIONS FOR LIABILITIES (149,769 ) (135,678 )
NET ASSETS 753,754 740,919

CAPITAL AND RESERVES
Called up share capital 100 100
Investment property reserve 10 450,538 450,538
Retained earnings 303,116 290,281
753,754 740,919

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 directors acknowledge their 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.

JAMBEL PROPERTY LTD (REGISTERED NUMBER: 09312250)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 August 2024 and were signed on its behalf by:





Mr J M Pye - Director


JAMBEL PROPERTY LTD (REGISTERED NUMBER: 09312250)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Jambel Property Ltd 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 (£).


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.

The directors have considered the company's position at the time of signing the financial statements. After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.

Turnover
Turnover comprises rental income received and is recognised on a straight-line basis over the lease term.

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract.

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.

Depreciation is provided on the following basis:

Plant and machinery - 20% straight line
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.

Investment property
Investment property is carried at fair value determined annually by the directors 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.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

JAMBEL PROPERTY LTD (REGISTERED NUMBER: 09312250)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

2. ACCOUNTING POLICIES - continued

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

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from banks and other third parties.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

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

JAMBEL PROPERTY LTD (REGISTERED NUMBER: 09312250)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 December 2022
and 30 November 2023 8,187 2,147 10,334
DEPRECIATION
At 1 December 2022 6,317 161 6,478
Charge for year 554 537 1,091
At 30 November 2023 6,871 698 7,569
NET BOOK VALUE
At 30 November 2023 1,316 1,449 2,765
At 30 November 2022 1,870 1,986 3,856

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022 1,917,905
Additions 65,959
At 30 November 2023 1,983,864
NET BOOK VALUE
At 30 November 2023 1,983,864
At 30 November 2022 1,917,905

The directors have reviewed the market value of the properties using current market data for similar properties in the same areas and consider that the value remains appropriate.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 18,300 12,400
Other debtors 1,533 1,157
19,833 13,557

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 4,700 5,324
Trade creditors 5,022 483
Taxation and social security 3,182 6,886
Other creditors 501,211 594,632
514,115 607,325

JAMBEL PROPERTY LTD (REGISTERED NUMBER: 09312250)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Creditors includes bank loans which are secured by a government backed guarantee and the properties they relate to by a fixed charge, floating charge and negative pledge against the company's assets of £4,700 (2022 - £5,324).

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 634,380 469,099

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 625,006 455,649

Creditors includes bank loans which are secured by a government backed guarantee and the properties they relate to by a fixed and negative pledge of £634,380 (2022 - £469,099). Of this £625,006 (2022 - £455,649) is repayable, other than by instalments, after more than five years.

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 639,080 474,423

10. RESERVES
Investment
property
reserve
£   
At 1 December 2022
and 30 November 2023 450,538

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12. ULTIMATE CONTROLLING PARTY

The ultimate parent company is Jambel Holdings Ltd and its registered office is 54 Thorpe Road, Norwich, NR1 1RY.