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REGISTERED NUMBER: 10026055 (England and Wales)


















Unaudited Financial Statements for the Year Ended 29 February 2024

for

E & J Properties Limited

E & J Properties Limited (Registered number: 10026055)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


E & J Properties Limited (Registered number: 10026055)

Balance Sheet
29 February 2024

29/2/24 28/2/23
as restated
Notes £    £   
FIXED ASSETS
Tangible assets 4 6,416 7,802
Investment property 5 35,398,069 32,369,814
35,404,485 32,377,616

CURRENT ASSETS
Debtors 6 4,851,574 5,302,489
Cash at bank and in hand 369,874 1,427,336
5,221,448 6,729,825
CREDITORS
Amounts falling due within one year 7 (1,844,112 ) (2,203,855 )
NET CURRENT ASSETS 3,377,336 4,525,970
TOTAL ASSETS LESS CURRENT
LIABILITIES

38,781,821

36,903,586

PROVISIONS FOR LIABILITIES (1,528,826 ) (1,528,826 )
NET ASSETS 37,252,995 35,374,760

CAPITAL AND RESERVES
Called up share capital 100,000 100,000
Share premium 22,448,710 22,448,710
Fair value reserve 8 5,641,593 5,641,593
Retained earnings 9,062,692 7,184,457
37,252,995 35,374,760

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

E & J Properties Limited (Registered number: 10026055)

Balance Sheet - continued
29 February 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 June 2024 and were signed on its behalf by:





H V Jones - Director


E & J Properties Limited (Registered number: 10026055)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

E & J 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: 10026055

Registered office: Treviot House
186-192 High Road
Ilford
Essex
IG1 1LR

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

Turnover
Turnover represents the total invoice value of rent receivable during the year, excluding VAT where applicable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - Straight line over 5 years

Investment property
Investment property is included at fair value. Gains are recognised in the profit and loss account. Deferred
taxation is provided on these gains at the rate expected to apply when the property is sold.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

E & J Properties Limited (Registered number: 10026055)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 23,679
Additions 850
At 29 February 2024 24,529
DEPRECIATION
At 1 March 2023 15,877
Charge for year 2,236
At 29 February 2024 18,113
NET BOOK VALUE
At 29 February 2024 6,416
At 28 February 2023 7,802

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 32,369,814
Additions 3,028,255
At 29 February 2024 35,398,069
NET BOOK VALUE
At 29 February 2024 35,398,069
At 28 February 2023 32,369,814

E & J Properties Limited (Registered number: 10026055)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. INVESTMENT PROPERTY - continued

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2021 6,429,385
Valuation in 2022 741,034
Cost 28,227,650
35,398,069

If investment property had not been revalued they would have been included at the following historical cost:

29/2/24 28/2/23
as restated
£    £   
Cost 28,227,650 25,199,395

The investment properties were valued on a fair value basis on 28 February 2024 by the Directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
as restated
£    £   
Trade debtors 208,765 155,164
Amounts owed by connected companies 723 1,857
Other debtors 4,642,086 5,145,468
4,851,574 5,302,489

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
as restated
£    £   
Trade creditors 61,273 51,437
Amounts owed to connected companies 880,000 880,000
Taxation and social security 834,952 865,722
Other creditors 67,887 406,696
1,844,112 2,203,855

8. RESERVES
Fair
value
reserve
£   
At 1 March 2023
and 29 February 2024 5,641,593

E & J Properties Limited (Registered number: 10026055)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 29 February 2024:

Director 1
29/2/24
£

Amounts Advanced236,123
Amounts Repaid(93,575)


The loan to the director is repayable on demand. Interest is charged on loans at the official interest set by HMRC.