JME PROPERTY INVESTMENTS LIMITED

Company Registration Number:
SC760894 (Scotland)

Unaudited abridged accounts for the year ended 31 March 2024

Period of accounts

Start date: 02 March 2023

End date: 31 March 2024

JME PROPERTY INVESTMENTS LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2024

Balance sheet
Notes

JME PROPERTY INVESTMENTS LIMITED

Balance sheet

As at 31 March 2024


Notes

13 months to 31 March 2024


£
Fixed assets
Tangible assets: 3 212,563
Investments: 4 250,000
Total fixed assets: 462,563
Current assets
Debtors: 5 4,976
Cash at bank and in hand: 23,158
Total current assets: 28,134
Creditors: amounts falling due within one year:   (7,531)
Net current assets (liabilities): 20,603
Total assets less current liabilities: 483,166
Creditors: amounts falling due after more than one year: 6 (451,600)
Total net assets (liabilities): 31,566
Capital and reserves
Called up share capital: 100
Profit and loss account: 31,466
Shareholders funds: 31,566

The notes form part of these financial statements

JME PROPERTY INVESTMENTS LIMITED

Balance sheet statements

For the year ending 31 March 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 26 July 2024
and signed on behalf of the board by:

Name: JM Easton
Status: Director

The notes form part of these financial statements

JME PROPERTY INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Tangible fixed assets and depreciation policy

Property, plant and equipment is stated at cost less accumulated depreciation and accumulated impairment losses. Depreciation is provided on all property, plant and equipment at rates calculated to write off the cost less estimated residual value of each asset over its estimated useful life as follows: Land: Not depreciated. Buildings: 50 years. Furniture & Equipment: 5 years. IT equipment: 3 years The carrying values of property, plant and equipment are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Valuation and information policy

Investment property is property held to earn rentals and/or for capital appreciation. Properties are initially recognized at cost, which includes the purchase cost and any transaction costs. At the end of each subsequent reporting period, they are measured at fair value. Any gains or losses arising from changes in fair value are included in the profit or loss for the period in which they arise. Deferred tax is provided on gains or losses at the rate expected to apply to the sale of the property.

JME PROPERTY INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

2. Employees

13 months to 31 March 2024
Average number of employees during the period 0

JME PROPERTY INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Tangible Assets

Total
Cost £
Additions 213,204
At 31 March 2024 213,204
Depreciation
Charge for year 641
At 31 March 2024 641
Net book value
At 31 March 2024 212,563

JME PROPERTY INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Fixed investments

A basic financial asset is valued at £250,000

JME PROPERTY INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Debtors

13 months to 31 March 2024
£
Debtors due after more than one year: 0

JME PROPERTY INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

6. Creditors: amounts falling due after more than one year note

Creditors due after one year includes £409,600 repayable after 5 years

JME PROPERTY INVESTMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

7. Related party transactions

Name of the related party: Shareholders
Relationship:
Shareholders who are Directors
Description of the Transaction: Loans provided to the Company which are not at market value
£
Balance at 31 March 2024 451,600