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Company No: 11739440 (England and Wales)

JUBILEE PROPERTY INTERNATIONAL HOLDINGS LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

JUBILEE PROPERTY INTERNATIONAL HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

JUBILEE PROPERTY INTERNATIONAL HOLDINGS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2023
JUBILEE PROPERTY INTERNATIONAL HOLDINGS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Investments 3 4,497,252 4,435,355
4,497,252 4,435,355
Current assets
Debtors 4 6,984,804 6,766,557
Cash at bank and in hand 5 4,596 102,010
6,989,400 6,868,567
Creditors: amounts falling due within one year 6 ( 10,963,759) ( 11,637,480)
Net current liabilities (3,974,359) (4,768,913)
Total assets less current liabilities 522,893 (333,558)
Net assets/(liabilities) 522,893 ( 333,558)
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 522,793 ( 333,658 )
Total shareholder's funds/(deficit) 522,893 ( 333,558)

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

Directors' responsibilities:

The financial statements of Jubilee Property International Holdings Limited (registered number: 11739440) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

Daniel Alexander Webber
Director

25 September 2024

JUBILEE PROPERTY INTERNATIONAL HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
JUBILEE PROPERTY INTERNATIONAL HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Jubilee Property International Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interestmethod so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Trade and other debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised
cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Trade and other creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings/Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Investments
Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the company during the year, including directors 2 2

3. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 January 2023 4,435,355
Additions 61,978
Disposals ( 81)
At 31 December 2023 4,497,252
Carrying value at 31 December 2023 4,497,252
Carrying value at 31 December 2022 4,435,355

4. Debtors

2023 2022
£ £
Amounts owed by group undertakings 468,339 106,819
Amounts owed by fellow subsidiaries 6,445,465 6,465,430
Other debtors 71,000 194,308
6,984,804 6,766,557

5. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 4,596 102,010

6. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to group undertakings 10,842,239 8,948,624
Amounts owed to associates 117,680 2,417,031
Other creditors 3,840 271,825
10,963,759 11,637,480

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Ultimate controlling party

Parent Company:

Jubilee International Holdings LLC
A company registered in the United States of America