REGISTERED NUMBER: |
PROPERTY BY J&J LTD. |
Unaudited Financial Statements for the Year Ended 30 November 2023 |
REGISTERED NUMBER: |
PROPERTY BY J&J LTD. |
Unaudited Financial Statements for the Year Ended 30 November 2023 |
PROPERTY BY J&J LTD. (REGISTERED NUMBER: 13760084) |
Contents of the Financial Statements |
for the year ended 30 November 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 | to | 4 |
PROPERTY BY J&J LTD. |
Company Information |
for the year ended 30 November 2023 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
CUBO Birmingham |
3rd Floor |
Two Chamberlain Square |
Birmingham |
West Midlands |
B3 3AX |
PROPERTY BY J&J LTD. (REGISTERED NUMBER: 13760084) |
Balance Sheet |
30 November 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Investment property | 4 |
Current assets |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current assets |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year | 7 |
Net assets |
Capital and reserves |
Called up share capital |
Retained earnings |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
PROPERTY BY J&J LTD. (REGISTERED NUMBER: 13760084) |
Notes to the Financial Statements |
for the year ended 30 November 2023 |
1. | Statutory information |
Property By J&J Ltd. is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Investment property |
Investment property is included at market value. All gains and losses arising on revaluation are taken directly to the profit and loss account for the year. |
No depreciation or amortistion is provided in respect of investment property. |
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. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Investment property |
Total |
£ |
Fair value |
Additions |
At 30 November 2023 |
Net book value |
At 30 November 2023 |
PROPERTY BY J&J LTD. (REGISTERED NUMBER: 13760084) |
Notes to the Financial Statements - continued |
for the year ended 30 November 2023 |
4. | Investment property - continued |
During the year, the Company entered into a Management Agreement with a Housing Association for guaranteed rental income for a term of 25 years. The rent will be reviewed annually in line with the Consumer Price Index. |
The Agreement states that the Housing Association may only use the property as residential supported accommodation. During the period of the Agreement, the Company and/or the Housing Association may each sell the benefit of the Management Agreement, provided that the other consents. |
No revaluation has taken place in the year in respect of investment property as there was no significant change in its' value between date of completion and the balance sheet date. |
5. | Debtors |
2023 | 2022 |
£ | £ |
Amounts falling due within one year: |
Accrued income |
Amounts falling due after more than one year: |
Called up share capital not paid |
Aggregate amounts |
6. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Tax |
Accruals and deferred income |
7. | Creditors: amounts falling due after more than one year |
2023 | 2022 |
£ | £ |
Amounts owed to associates | 195,016 | - |
8. | Related party disclosures |
During the year, the company received an interest-free loan totalling £195,000 from N V L T Y Ltd., where the directors have significant influence in each company. At the balance sheet date the amount due to N V L T Y Ltd. was £195,016 (2022: NIL). |