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Registration number: 10312237

JIP Property Investments Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2023

 

JIP Property Investments Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

JIP Property Investments Limited

Company Information

Directors

Mr I M Pattison

Mrs J Pattison

Registered office

Station House
Station Road
Rugeley
Staffordshire
WS15 3HA

Accountants

Wychbury Greaves
Station House
Station Road
Rugeley
Staffordshire
WS15 3HA

 

JIP Property Investments Limited

(Registration number: 10312237)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

493,867

112,772

Current assets

 

Debtors

192,360

208,196

Cash at bank and in hand

 

4,632

4,377

 

196,992

212,573

Creditors: Amounts falling due within one year

(549,892)

(407,452)

Net current liabilities

 

(352,900)

(194,879)

Total assets less current liabilities

 

140,967

(82,107)

Creditors: Amounts falling due after more than one year

(349,150)

(94,120)

Net liabilities

 

(208,183)

(176,227)

Capital and reserves

 

Called up share capital

5

1

1

Retained earnings

(208,184)

(176,228)

Shareholders' deficit

 

(208,183)

(176,227)

For the financial year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 August 2024 and signed on its behalf by:
 

.........................................
Mr I M Pattison
Director

 

JIP Property Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales .

The address of its registered office is:
Station House
Station Road
Rugeley
Staffordshire
WS15 3HA
England

These financial statements were authorised for issue by the Board on 30 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Borrowings

 

JIP Property Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Investment properties

2023
£

At 1 September

112,772

Additions

381,095

At 31 August

493,867

There has been no valuation of investment property by an independent valuer.

5

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £0.01 each

100

1

100

1

       
 

JIP Property Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

6

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

336,500

76,870

Other borrowings

12,650

17,250

349,150

94,120

Current loans and borrowings

2023
£

2022
£

Other borrowings

110,000

110,000