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REGISTERED NUMBER: 06381222 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

J & J PROPERTIES (SOUTH EAST) LIMITED

J & J PROPERTIES (SOUTH EAST) LIMITED (REGISTERED NUMBER: 06381222)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


J & J PROPERTIES (SOUTH EAST) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Mrs J M Heap





SECRETARY: Mrs J M Heap





REGISTERED OFFICE: Keepers Cottage
Cottage Lane
Sedlescombe
East Sussex
TN33 0RR





REGISTERED NUMBER: 06381222 (England and Wales)





ACCOUNTANTS: Watson Associates (Professional Services) Limited
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

J & J PROPERTIES (SOUTH EAST) LIMITED (REGISTERED NUMBER: 06381222)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 2,520,872 2,518,645

CURRENT ASSETS
Debtors 5 15,975 15,742
Cash at bank 282,186 288,414
298,161 304,156
CREDITORS
Amounts falling due within one year 6 (9,092 ) (15,933 )
NET CURRENT ASSETS 289,069 288,223
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,809,941

2,806,868

CREDITORS
Amounts falling due after more than one
year

7

(1,348,218

)

(1,317,848

)

PROVISIONS FOR LIABILITIES (168,041 ) (168,041 )
NET ASSETS 1,293,682 1,320,979

CAPITAL AND RESERVES
Called up share capital 8 100 100
Share premium 407,900 407,900
Fair value reserve 9 912,775 912,775
Retained earnings (27,093 ) 204
SHAREHOLDERS' FUNDS 1,293,682 1,320,979

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

J & J PROPERTIES (SOUTH EAST) LIMITED (REGISTERED NUMBER: 06381222)

BALANCE SHEET - continued
31 DECEMBER 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 Comprehensive Income has not been delivered.

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





Mrs J M Heap - Director


J & J PROPERTIES (SOUTH EAST) LIMITED (REGISTERED NUMBER: 06381222)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

J & J Properties (South East) 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 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.

Critical accounting judgements and key sources of estimation uncertainty
No significant judgements have had to be made by management in preparing these financial statements.

There were no key assumptions made concerning the future, and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 reducing balance
Computer equipment - 33% on cost

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


J & J PROPERTIES (SOUTH EAST) LIMITED (REGISTERED NUMBER: 06381222)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 January 2023 2,516,916 3,685 6,053 2,526,654
Additions - 2,686 1,158 3,844
Disposals - (436 ) (2,696 ) (3,132 )
At 31 December 2023 2,516,916 5,935 4,515 2,527,366
DEPRECIATION
At 1 January 2023 - 2,045 5,964 8,009
Charge for year - 1,052 731 1,783
Eliminated on disposal - (320 ) (2,978 ) (3,298 )
At 31 December 2023 - 2,777 3,717 6,494
NET BOOK VALUE
At 31 December 2023 2,516,916 3,158 798 2,520,872
At 31 December 2022 2,516,916 1,640 89 2,518,645

J & J PROPERTIES (SOUTH EAST) LIMITED (REGISTERED NUMBER: 06381222)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 December 2023 is represented by:

Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
Valuation in 2017 384,385 - - 384,385
Valuation in 2020 693,762 - - 693,762
Cost 1,438,769 5,935 4,515 1,449,219
2,516,916 5,935 4,515 2,527,366

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 15,975 15,742

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 17 -
Taxation and social security 3,387 7,544
Other creditors 5,688 8,389
9,092 15,933

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 1,348,218 1,317,848

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
67 Ordinary £1 67 67
33 Ordinary B £1 33 33
100 100

J & J PROPERTIES (SOUTH EAST) LIMITED (REGISTERED NUMBER: 06381222)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

9. RESERVES
Fair
value
reserve
£   
At 1 January 2023
and 31 December 2023 912,775

Fair Value Reserve
The fair value reserve comprises the balance of fair values relating to the freehold property net of deferred tax on the gain. This reserve is non-distributable.

Retained Earnings
The retained earnings reserve comprises the balance of profits accumulated over the life of the company. This reserve is distributable.

10. ULTIMATE CONTROLLING PARTY

During the current and previous year the company was under the control of the J Heap, the sole director and majority shareholder of the company.