Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Lionel Gerald Curry 08/09/2005 Daniel Alexander Webber 31/12/2021 25 September 2024 The principal activity of the company during the financial year was that of property investment. 02268181 2023-12-31 02268181 bus:Director1 2023-12-31 02268181 bus:Director2 2023-12-31 02268181 2022-12-31 02268181 core:CurrentFinancialInstruments 2023-12-31 02268181 core:CurrentFinancialInstruments 2022-12-31 02268181 core:ShareCapital 2023-12-31 02268181 core:ShareCapital 2022-12-31 02268181 core:CapitalRedemptionReserve 2023-12-31 02268181 core:CapitalRedemptionReserve 2022-12-31 02268181 core:RetainedEarningsAccumulatedLosses 2023-12-31 02268181 core:RetainedEarningsAccumulatedLosses 2022-12-31 02268181 core:Vehicles 2022-12-31 02268181 core:Vehicles 2023-12-31 02268181 core:CostValuation 2022-12-31 02268181 core:DisposalsRepaymentsInvestments 2023-12-31 02268181 core:CostValuation 2023-12-31 02268181 2023-01-01 2023-12-31 02268181 bus:FilletedAccounts 2023-01-01 2023-12-31 02268181 bus:SmallEntities 2023-01-01 2023-12-31 02268181 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 02268181 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02268181 bus:Director1 2023-01-01 2023-12-31 02268181 bus:Director2 2023-01-01 2023-12-31 02268181 core:Vehicles 2023-01-01 2023-12-31 02268181 2022-01-01 2022-12-31 02268181 1 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Company No: 02268181 (England and Wales)

JUBILEE ESTATES LIMITED

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

JUBILEE ESTATES LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

JUBILEE ESTATES LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2023
JUBILEE ESTATES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 27,545 0
Investments 4 0 81
27,545 81
Current assets
Debtors 5 1,234,272 1,532,184
Cash at bank and in hand 6 7,084 3,369
1,241,356 1,535,553
Creditors: amounts falling due within one year 7 ( 752,000) ( 854,782)
Net current assets 489,356 680,771
Total assets less current liabilities 516,901 680,852
Net assets 516,901 680,852
Capital and reserves
Called-up share capital 129,600 129,600
Capital redemption reserve 14,400 14,400
Profit and loss account 372,901 536,852
Total shareholder's funds 516,901 680,852

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 Estates Limited (registered number: 02268181) 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 ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
JUBILEE ESTATES 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 Estates 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 the revaluation of freehold properties and to include investment properties and 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 £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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 liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the company during the year, excluding directors 3 3

3. Tangible assets

Vehicles Total
£ £
Cost
At 01 January 2023 0 0
Additions 31,480 31,480
At 31 December 2023 31,480 31,480
Accumulated depreciation
At 01 January 2023 0 0
Charge for the financial year 3,935 3,935
At 31 December 2023 3,935 3,935
Net book value
At 31 December 2023 27,545 27,545
At 31 December 2022 0 0

4. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 January 2023 81 81
Disposals ( 81) ( 81)
At 31 December 2023 0 0
Carrying value at 31 December 2023 0 0
Carrying value at 31 December 2022 81 81

5. Debtors

2023 2022
£ £
Trade debtors 0 1,270
Amounts owed by group undertakings 1,226,272 1,530,914
Other debtors 8,000 0
1,234,272 1,532,184

6. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 7,084 3,369

7. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 0 270,075
Amounts owed to group undertakings 182,837 183,837
Other taxation and social security 4,915 2,767
Other creditors 564,248 398,103
752,000 854,782

8. Ultimate controlling party

Parent Company:

Jubilee Property Holdings Limited

The ultimate controlling party is Jubilee Property International Holdings LLC, a company registered in the United States of America.