REGISTERED NUMBER: |
THE TWO J'S |
PROPERTY DEVELOPMENTS LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH NOVEMBER 2023 |
REGISTERED NUMBER: |
THE TWO J'S |
PROPERTY DEVELOPMENTS LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH NOVEMBER 2023 |
THE TWO J'S |
PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03459704) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH NOVEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
THE TWO J'S |
PROPERTY DEVELOPMENTS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30TH NOVEMBER 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
t/as Findlay Wetherfield Scott & Co |
Chartered Accountants |
137, Station Road, |
Chingford, |
London |
E4 6AG |
BANKERS: |
32 Oxford Street, |
London |
W10 1AX |
THE TWO J'S |
PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03459704) |
BALANCE SHEET |
30TH NOVEMBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
THE TWO J'S |
PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03459704) |
BALANCE SHEET - continued |
30TH NOVEMBER 2023 |
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 |
THE TWO J'S |
PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03459704) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH NOVEMBER 2023 |
1. | STATUTORY INFORMATION |
The Two J's Property Developments Limited 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. |
Tangible fixed assets |
Freehold land and buildings are not depreciated. Properties are maintained to ensure that their value does not diminish over time and the maintenance costs are charged to profit and loss account in the year incurred. In the directors' opinion, depreciation would be immaterial and has not been charged. |
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 |
THE TWO J'S |
PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03459704) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH NOVEMBER 2023 |
4. | TANGIBLE FIXED ASSETS |
Land and |
buildings |
£ |
Cost or valuation |
At 1st December 2022 |
and 30th November 2023 |
Net book value |
At 30th November 2023 |
At 30th November 2022 |
As explained in Note 2, no depreciation has been provided on freehold land and buildings. |
Cost or valuation at 30th November 2023 is represented by: |
Land and |
buildings |
£ |
Valuation in 2017 | 1,117,768 |
Cost | 382,232 |
1,500,000 |
If freehold land and buildings had not been revalued they would have been included at the following historical cost: |
2023 | 2022 |
£ | £ |
Cost | 382,232 | 382,232 |
Value of land in freehold land and buildings | 127,410 | 127,410 |
Freehold land and buildings were valued on an open market basis on 30th November 2020 by J A Smith, director . |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
THE TWO J'S |
PROPERTY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03459704) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH NOVEMBER 2023 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
8. | RESERVES |
Fair |
value |
reserve |
£ |
At 1st December 2022 |
and 30th November 2023 |
9. | RELATED PARTY DISCLOSURES |
At the balance sheet date the controlling parties are J.A.Smith and J. Smith who own 100% of the issued ordinary share capital in the company. |