Company registration number 02683257 (England and Wales)
JORDAN DEVELOPMENTS (UK) LIMITED
ANNUAL REPORT AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
JORDAN DEVELOPMENTS (UK) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
JORDAN DEVELOPMENTS (UK) LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
3
10,559
11,227
Investment properties
4
21,822,000
21,146,000
Investments
5
85,704
-
0
21,918,263
21,157,227
Current assets
Debtors
582,331
844,808
Cash at bank and in hand
8,436
4,057
590,767
848,865
Creditors: amounts falling due within one year
(1,147,756)
(1,194,461)
Net current liabilities
(556,989)
(345,596)
Total assets less current liabilities
21,361,274
20,811,631
Creditors: amounts falling due after more than one year
(7,172,835)
(6,431,415)
Provisions for liabilities
(955,856)
(1,184,980)
Net assets
13,232,583
13,195,236
Capital and reserves
Called up share capital
7
200
200
Fair value reserves
4,914,194
5,040,427
Profit and loss reserves
8,318,189
8,154,609
Total equity
13,232,583
13,195,236

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

JORDAN DEVELOPMENTS (UK) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 4 September 2024 and are signed on its behalf by:
R A Jordan
Director
Company Registration No. 02683257
JORDAN DEVELOPMENTS (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

Jordan Developments (UK) Limited is a private company limited by shares incorporated in England and Wales. The registered office is West Walk Building, 110 Regent Road, Leicester, LE1 7LT.

1.1
Basis of preparation

These financial statements have been prepared in accordance with applicable accounting standards including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties at fair value. The principal accounting policies adopted are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable, and is shown net of VAT. Turnover comprises rent receivable from investment properties and is recognised on a receivable basis.

1.3
Tangible fixed assets

Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Plant and machinery
25% per annum of net book value
Fixtures, fittings & equipment
15% per annum of net book value
Motor vehicles
25% per annum of net book value
1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

1.6
Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Debtors and creditors with no stated interest rate and receivable or payable within one year are measured at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

JORDAN DEVELOPMENTS (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.

1.8
Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
4
4
JORDAN DEVELOPMENTS (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
3
Tangible fixed assets
Total
£
Cost
At 1 January 2023
32,081
Additions
1,515
At 31 December 2023
33,596
Depreciation and impairment
At 1 January 2023
20,854
Depreciation charged in the year
2,183
At 31 December 2023
23,037
Carrying amount
At 31 December 2023
10,559
At 31 December 2022
11,227
4
Investment property
2023
£
Fair value
At 1 January 2023
21,146,000
Additions
3,277,255
Disposals
(1,928,000)
Revaluations
(673,255)
At 31 December 2023
21,822,000

A company director has considered the open market value of investment properties at the year end and arrived at his assessment thereof at £23,131,000. In part this valuation has utilised information provided by Lambert Smith Hampton, property agents and surveyors and in part his own assessment of the property market.

5
Fixed asset investments
2023
2022
£
£
Other investments other than loans
85,704
-
0
JORDAN DEVELOPMENTS (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
5
Fixed asset investments
(Continued)
- 6 -
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 January 2023
-
Additions
99,995
Valuation changes
(14,291)
At 31 December 2023
85,704
Carrying amount
At 31 December 2023
85,704
At 31 December 2022
-
6
Security

The aggregate amount of creditors, those due within one year and those falling due after more than one year, for which security has been given amounted to £7,307,249 (2022 - £6,794,599). These are secured by legal charges against the company's investment properties.

7
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
80 Ordinary shares of £1 each
80
80
20 A Ordinary shares of £1 each
20
20
50 B Ordinary shares of £1 each
50
50
50 C Ordinary shares of £1 each
50
50
200
200
8
Directors' transactions

Advances or credits have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Director
-
181,466
79,873
(134,788)
126,551
Director
-
227,227
250,767
(291,122)
186,872
408,693
330,640
(425,910)
313,423

These amounts are unsecured, interest free and repayable on demand.

JORDAN DEVELOPMENTS (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 7 -
9
Prior period adjustment
Reconciliation of changes in equity
1 January
31 December
2022
2022
£
£
Adjustments to prior year
Restatement of investment property fair value
-
(726,889)
Equity as previously reported
11,475,913
13,922,125
Equity as adjusted
11,475,913
13,195,236
Analysis of the effect upon equity
Other reserves
-
(344,238)
Profit and loss reserves
-
(382,651)
-
(726,889)
Reconciliation of changes in profit for the previous financial period
2022
£
Adjustments to prior year
Restatement of investment property fair value
(918,000)
Deferred tax on revaluation of investment property
191,111
Total adjustments
(726,889)
Profit as previously reported
2,521,712
Profit as adjusted
1,794,823
Notes to reconciliation

The prior period adjustment relates to the change in property value to reflect Open Market Value rather than Reinstatement Cost which was inadvertently included at 31 December 2022.

2023-12-312023-01-01false04 September 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityR A JordanT R JordanT R Jordanfalsefalse026832572023-01-012023-12-31026832572023-12-31026832572022-12-3102683257core:CurrentFinancialInstruments2023-12-3102683257core:CurrentFinancialInstruments2022-12-3102683257core:Non-currentFinancialInstruments2023-12-3102683257core:Non-currentFinancialInstruments2022-12-3102683257core:ShareCapital2023-12-3102683257core:ShareCapital2022-12-3102683257core:OtherMiscellaneousReserve2023-12-3102683257core:OtherMiscellaneousReserve2022-12-3102683257core:RetainedEarningsAccumulatedLosses2023-12-3102683257core:RetainedEarningsAccumulatedLosses2022-12-3102683257core:ShareCapitalOrdinaryShares2023-12-3102683257core:ShareCapitalOrdinaryShares2022-12-3102683257bus:Director12023-01-012023-12-3102683257core:PlantMachinery2023-01-012023-12-3102683257core:FurnitureFittings2023-01-012023-12-3102683257core:MotorVehicles2023-01-012023-12-31026832572022-01-012022-12-31026832572022-12-3102683257bus:OrdinaryShareClass12023-12-3102683257bus:OrdinaryShareClass22023-12-3102683257bus:OrdinaryShareClass32023-12-3102683257bus:OrdinaryShareClass42023-12-3102683257bus:OrdinaryShareClass12023-01-012023-12-3102683257bus:OrdinaryShareClass22023-01-012023-12-3102683257bus:OrdinaryShareClass32023-01-012023-12-3102683257bus:OrdinaryShareClass42023-01-012023-12-3102683257bus:PrivateLimitedCompanyLtd2023-01-012023-12-3102683257bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3102683257bus:FRS1022023-01-012023-12-3102683257bus:AuditExemptWithAccountantsReport2023-01-012023-12-3102683257bus:Director22023-01-012023-12-3102683257bus:CompanySecretary12023-01-012023-12-3102683257bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP