Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truePrivate housebuilders2023-04-01false65truefalse 00420353 2023-04-01 2024-03-31 00420353 2022-04-01 2023-03-31 00420353 2024-03-31 00420353 2023-03-31 00420353 c:Director1 2023-04-01 2024-03-31 00420353 d:Buildings d:LongLeaseholdAssets 2023-04-01 2024-03-31 00420353 d:Buildings d:LongLeaseholdAssets 2024-03-31 00420353 d:Buildings d:LongLeaseholdAssets 2023-03-31 00420353 d:Buildings d:ShortLeaseholdAssets 2023-04-01 2024-03-31 00420353 d:PlantMachinery 2023-04-01 2024-03-31 00420353 d:PlantMachinery 2024-03-31 00420353 d:PlantMachinery 2023-03-31 00420353 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00420353 d:MotorVehicles 2023-04-01 2024-03-31 00420353 d:MotorVehicles 2024-03-31 00420353 d:MotorVehicles 2023-03-31 00420353 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00420353 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00420353 d:FreeholdInvestmentProperty 2023-04-01 2024-03-31 00420353 d:FreeholdInvestmentProperty 2024-03-31 00420353 d:FreeholdInvestmentProperty 2023-03-31 00420353 d:FreeholdInvestmentProperty 2 2023-04-01 2024-03-31 00420353 d:CurrentFinancialInstruments 2024-03-31 00420353 d:CurrentFinancialInstruments 2023-03-31 00420353 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 00420353 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 00420353 d:ShareCapital 2024-03-31 00420353 d:ShareCapital 2023-03-31 00420353 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 00420353 d:RetainedEarningsAccumulatedLosses 2024-03-31 00420353 d:RetainedEarningsAccumulatedLosses 2023-03-31 00420353 c:FRS102 2023-04-01 2024-03-31 00420353 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 00420353 c:FullAccounts 2023-04-01 2024-03-31 00420353 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 00420353 d:WithinOneYear 2024-03-31 00420353 d:WithinOneYear 2023-03-31 00420353 d:BetweenOneFiveYears 2024-03-31 00420353 d:BetweenOneFiveYears 2023-03-31 00420353 6 2023-04-01 2024-03-31 00420353 f:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 00420353










J A B SHORT LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
J A B SHORT LIMITED
REGISTERED NUMBER: 00420353

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
2,477
2,691

Investments
 6 
7,038
7,038

Investment property
 7 
1,371,125
537,884

  
1,380,640
547,613

Current assets
  

Stocks
  
500
500

Debtors: amounts falling due within one year
 8 
199,678
216,132

Cash at bank and in hand
  
943,071
1,784,285

  
1,143,249
2,000,917

Creditors: amounts falling due within one year
 9 
(148,256)
(125,727)

Net current assets
  
 
 
994,993
 
 
1,875,190

  

Net assets
  
2,375,633
2,422,803


Capital and reserves
  

Called up share capital 
  
31,915
31,915

Profit and loss account
  
2,343,718
2,390,888

  
2,375,633
2,422,803


Page 1

 
J A B SHORT LIMITED
REGISTERED NUMBER: 00420353
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 September 2024.





J A B Short
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
J A B SHORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

J A B Short Limited is a private Company limited by shares, incorporated in England and Wales (registered number: 00420353). Its registered office 33 The Bridge Business Centre, Beresford Way, Chesterfield, Derbyshire, S41 9FG. The principal activity of the Company throughout the year was that of property investment. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The Company's functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
J A B SHORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

The depreciation rates used are:

Office alterations
-
10%
straight line
Plant and machinery
-
25%
reducing balance basis
Motor vehicles
-
25%
reducing balance basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings.

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.5

Investment property

Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Income and Retained Earnings.

 
2.6

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Page 4

 
J A B SHORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction,  the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet 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.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Taxation

Tax is recognised in the Statement of Income and Retained Earnings.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date in the countries where the Company operates and generates income.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

No significant judgements have had to be made by management in preparing these financial statements.
The directors have made key assumptions in the determination of fair value of the investment property in respect of the state of the property market in the location where the property is situated and in respect of the range of reasonable fair value estimates of the asset.

Page 5

 
J A B SHORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Employees

The average monthly number of employees, including directors, during the year was 6 (2023 - 5).


5.


Tangible fixed assets





Office alterations
Plant and machinery
Motor vehicles
Total

£
£
£
£



Cost


At 1 April 2023
8,097
15,090
12,315
35,502


Additions
-
611
-
611



At 31 March 2024

8,097
15,701
12,315
36,113



Depreciation


At 1 April 2023
8,097
12,399
12,315
32,811


Charge for the year on owned assets
-
825
-
825



At 31 March 2024

8,097
13,224
12,315
33,636



Net book value



At 31 March 2024
-
2,477
-
2,477



At 31 March 2023
-
2,691
-
2,691


6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2023
7,038



At 31 March 2024
7,038




Page 6

 
J A B SHORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
537,884


Additions at cost
822,821


Surplus on revaluation
10,420



At 31 March 2024
1,371,125

The 2024 valuations were made by the director, on an open market value for existing use basis.





8.


Debtors

2024
2023
£
£


Trade debtors
7,586
2,111

Amounts owed by group undertakings
153,726
157,991

Other debtors
-
16,682

Prepayments and accrued income
38,366
30,860

Tax recoverable
-
8,488

199,678
216,132



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
31,227
31,286

Other taxation and social security
5,693
2,717

Other creditors
111,336
91,724

148,256
125,727


Page 7

 
J A B SHORT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Reserves

Profit and loss account

Both previous UK GAAP and FRS 102 require investment properties to be stated in the accounts at their
current market value, with no annual depreciation charge. However, while previous UK GAAP stipulated
that the surplus on revaluation of the property should be held in a revaluation reserve, which, being and
unrealised surplus, did not form part of the company's distributable reserves, FRS 102 requires that these
surpluses, although still not distributable, be charged through the Profit and Loss Account.
The Profit and Loss Account reserve at 31 March 2024 includes a non-distributable amount of £10,420
(2023: £Nil).


11.


Contingent liabilities

A guarantee has been given to the directors of Manor Developments (Chesterfield) Limited that in the event of any liquidity problems in the foreseeable future full financial support will be provided to that company. In the directors' opinion no liability will arise in connection therewith.


12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £6,507 (2023 - £8,212). 


13.


Commitments under operating leases

At 31 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
23,251
3,446

Later than 1 year and not later than 5 years
38,103
-

61,354
3,446

 
Page 8