Registered number
07444212
JLC Homes Ltd
Filleted Accounts
30 November 2023
JLC Homes Ltd
Registered number: 07444212
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,400,000 1,118,101
Current assets
Debtors 4 43,243 48,224
Cash at bank and in hand 10,711 14,253
53,954 62,477
Creditors: amounts falling due within one year 5 (44,694) (54,830)
Net current assets 9,260 7,647
Total assets less current liabilities 1,409,260 1,125,748
Creditors: amounts falling due after more than one year 6 (17,342) (28,978)
Provisions for liabilities (237,091) (126,629)
Net assets 1,154,827 970,141
Capital and reserves
Called up share capital 100 100
Share premium 72,170 72,170
Fair value reserve 947,780 776,343
Profit and loss account 134,777 121,528
Shareholders' funds 1,154,827 970,141
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
C C Ledger
Director
Approved by the board on 27 August 2024
JLC Homes Ltd
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover represents amounts receivable for the renting of investment property. Turnover is recognised by reference to the dates when property is let.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Investment property not provided as carried at fair value
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Investment property
£
Cost
At 1 December 2022 1,118,101
Surplus on revaluation 281,899
At 30 November 2023 1,400,000
Depreciation
At 30 November 2023 -
Net book value
At 30 November 2023 1,400,000
At 30 November 2022 1,118,101
Investment properties are carried at fair value. The value at the year end is the director's best estimate of the open market values of the properties based on their condition, rental yields, and the selling prices of other similar properties in the area.
4 Debtors 2023 2022
£ £
Trade debtors 43,243 48,224
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 11,689 10,660
Trade creditors 17,361 32,361
Taxation and social security costs 7,598 3,276
Other creditors 8,046 8,533
44,694 54,830
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 17,342 28,978
7 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 29,031 39,638
The bank loan is secured by a charge over the assets of the company.
8 Other information
JLC Homes Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Catteshall Cottage
Munstead Heath Road
Godalming
Surrey
GU8 4AR
JLC Homes Ltd 07444212 false 2022-12-01 2023-11-30 2023-11-30 VT Final Accounts October 2023 release 2 C C Ledger No description of principal activity 07444212 2021-12-01 2022-11-30 07444212 core:WithinOneYear 2022-11-30 07444212 core:AfterOneYear 2022-11-30 07444212 core:ShareCapital 2022-11-30 07444212 core:SharePremium 2022-11-30 07444212 core:OtherReservesSubtotal 2022-11-30 07444212 core:RetainedEarningsAccumulatedLosses 2022-11-30 07444212 2022-12-01 2023-11-30 07444212 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 07444212 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 07444212 bus:Director40 2022-12-01 2023-11-30 07444212 1 2022-12-01 2023-11-30 07444212 2 2022-12-01 2023-11-30 07444212 core:LandBuildings 2022-12-01 2023-11-30 07444212 countries:England 2022-12-01 2023-11-30 07444212 bus:FRS102 2022-12-01 2023-11-30 07444212 bus:FullAccounts 2022-12-01 2023-11-30 07444212 2023-11-30 07444212 core:WithinOneYear 2023-11-30 07444212 core:AfterOneYear 2023-11-30 07444212 core:ShareCapital 2023-11-30 07444212 core:SharePremium 2023-11-30 07444212 core:OtherReservesSubtotal 2023-11-30 07444212 core:RetainedEarningsAccumulatedLosses 2023-11-30 07444212 core:LandBuildings 2023-11-30 07444212 2022-11-30 07444212 core:LandBuildings 2022-11-30 iso4217:GBP xbrli:pure