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REGISTERED NUMBER: 12263576 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

JUDGES PROPERTIES LIMITED

JUDGES PROPERTIES LIMITED (REGISTERED NUMBER: 12263576)






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




Page

Balance Sheet 1

Notes to the Financial Statements 2


JUDGES PROPERTIES LIMITED (REGISTERED NUMBER: 12263576)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,136,930 1,206,118

CURRENT ASSETS
Debtors 5 50,850 50,000
Cash at bank 7,056 8,882
57,906 58,882
CREDITORS
Amounts falling due within one year 6 702,959 729,231
NET CURRENT LIABILITIES (645,053 ) (670,349 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

491,877

535,769

CREDITORS
Amounts falling due after more than one
year

7

(428,842

)

(428,307

)

PROVISIONS FOR LIABILITIES (2,415 ) (19,712 )
NET ASSETS 60,620 87,750

CAPITAL AND RESERVES
Called up share capital 8 150 150
Other reserves 7,245 59,136
Retained earnings 53,225 28,464
SHAREHOLDERS' FUNDS 60,620 87,750

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 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 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 September 2024 and were signed on its behalf by:





R P Colman - Director


JUDGES PROPERTIES LIMITED (REGISTERED NUMBER: 12263576)

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

1. STATUTORY INFORMATION

Judges Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 12263576

Registered office: Ingram House
6 Meridian Way
Norwich
Norfolk
NR7 0TA

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.

The financial statements are presented in Sterling, which is the functional currency of the company and rounded to the nearest £.

Going concern
As at 31 December 2023, the company had net current liabilities of £645,053. The directors believe, after reviewing the business activities of the company, together with the factors likely to affect its future development, its financial position, its exposure to financial risk, and on the basis of funding available, that the company has sufficient resources to continue in operation for the foreseeable future. Therefore, the directors believe it appropriate to adopt the going concern basis in preparing financial statements.

Turnover
Turnover represents rental income from operating leases, net of value added tax, and is recognised on a straight-line basis over the term of the relevant lease unless the lease payments are structured to increase with general inflation in which case the income is recognised as revenue in accordance with the expected payments.

Investment property
Investment property is initially recorded at cost which includes purchase cost and any directly attributable expenditure.

Investment properties whose fair value can be measured reliably are measured at fair value. The gain or loss on revaluation is recognised in the Statement of Comprehensive Income in the period in which it arises. Such gains or losses are transferred from retained earnings to a non-distributable reserve.

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.

JUDGES PROPERTIES LIMITED (REGISTERED NUMBER: 12263576)

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

3. EMPLOYEES

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 1,206,118
Revaluations (69,188 )
At 31 December 2023 1,136,930
NET BOOK VALUE
At 31 December 2023 1,136,930
At 31 December 2022 1,206,118

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2023 1,136,930

The directors value the company's investment property portfolio annually at the balance sheet date. The directors use their own knowledge and experience to assess the open market value of the property.

The historical cost of the company's investment property is £1,127,270 (2022 - £1,127,270).

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 850 -
Other debtors 50,000 50,000
50,850 50,000

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 6,423 5,389
Other creditors 696,536 723,842
702,959 729,231

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 428,842 428,307

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans 428,842 428,307

JUDGES PROPERTIES LIMITED (REGISTERED NUMBER: 12263576)

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

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
75 Ordinary A £1 75 75
75 Ordinary B £1 75 75
150 150

9. RELATED PARTY DISCLOSURES

At the balance sheet date, included within other creditors falling due within one year, is an amount of £382,323
payable to RP Colman & Co Holdings Limited (2022 - £382,323). This loan is interest-free.

At the balance sheet date, included within other debtors falling due within one year, is an amount of £50,000 due
to the company from RP Colman & Co Limited (2022 - £50,000 due from the company). This loan is interest-free.