JB Estates Ltd 06229821 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of an estate agents. Digita Accounts Production Advanced 6.30.9574.0 true 06229821 2023-01-01 2023-12-31 06229821 2023-12-31 06229821 bus:OrdinaryShareClass1 2023-12-31 06229821 bus:OrdinaryShareClass2 2023-12-31 06229821 core:CurrentFinancialInstruments 2023-12-31 06229821 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 06229821 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 06229821 core:Goodwill 2023-12-31 06229821 core:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 06229821 core:FurnitureFittings 2023-12-31 06229821 core:OfficeEquipment 2023-12-31 06229821 bus:SmallEntities 2023-01-01 2023-12-31 06229821 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 06229821 bus:FullAccounts 2023-01-01 2023-12-31 06229821 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 06229821 bus:RegisteredOffice 2023-01-01 2023-12-31 06229821 bus:CompanySecretaryDirector1 2023-01-01 2023-12-31 06229821 bus:Director2 2023-01-01 2023-12-31 06229821 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 06229821 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 06229821 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06229821 bus:Agent1 2023-01-01 2023-12-31 06229821 core:Goodwill 2023-01-01 2023-12-31 06229821 core:PatentsTrademarksLicencesConcessionsSimilar 2023-01-01 2023-12-31 06229821 core:FurnitureFittings 2023-01-01 2023-12-31 06229821 core:OfficeEquipment 2023-01-01 2023-12-31 06229821 countries:EnglandWales 2023-01-01 2023-12-31 06229821 2022-12-31 06229821 core:Goodwill 2022-12-31 06229821 core:PatentsTrademarksLicencesConcessionsSimilar 2022-12-31 06229821 core:FurnitureFittings 2022-12-31 06229821 core:OfficeEquipment 2022-12-31 06229821 2022-01-01 2022-12-31 06229821 2022-12-31 06229821 bus:OrdinaryShareClass1 2022-12-31 06229821 bus:OrdinaryShareClass2 2022-12-31 06229821 core:CurrentFinancialInstruments 2022-12-31 06229821 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 06229821 core:CurrentFinancialInstruments core:WithinOneYear core:PreviouslyStatedAmount 2022-12-31 06229821 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 06229821 core:Non-currentFinancialInstruments core:AfterOneYear core:PreviouslyStatedAmount 2022-12-31 06229821 core:Goodwill 2022-12-31 06229821 core:PatentsTrademarksLicencesConcessionsSimilar 2022-12-31 06229821 core:FurnitureFittings 2022-12-31 06229821 core:OfficeEquipment 2022-12-31 06229821 core:PreviouslyStatedAmount 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 06229821

JB Estates Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

JB Estates Ltd

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Balance Sheet

4 to 5

Notes to the Unaudited Financial Statements

6 to 11

 

JB Estates Ltd

Company Information

Directors

Mr Philip Thomas Jefferies

Mr Andrew John Bailey

Company secretary

Mr Philip Thomas Jefferies

Registered office

8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
Warwickshire
CV10 7RJ

Accountants

Pattinsons Business Services Limited
 Unit 8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
Warwickshire
CV10 7RJ

 

JB Estates Ltd

Directors' Report for the Year Ended 31 December 2023

The directors present their report and the financial statements for the year ended 31 December 2023.

Directors of the company

The directors who held office during the year were as follows:

Mr Philip Thomas Jefferies - Company secretary and director

Mr Andrew John Bailey

Principal activity

The principal activity of the company is that of an estate agents.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 25 September 2024 and signed on its behalf by:

.........................................
Mr Philip Thomas Jefferies
Company secretary and director

.........................................
Mr Andrew John Bailey
Director

 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
JB Estates Ltd
for the Year Ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of JB Estates Ltd for the year ended 31 December 2023 as set out on pages 4 to 11 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of JB Estates Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of JB Estates Ltd and state those matters that we have agreed to state to the Board of Directors of JB Estates Ltd, as a body.To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than JB Estates Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that JB Estates Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of JB Estates Ltd. You consider that JB Estates Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of JB Estates Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Pattinsons Business Services Limited
 Unit 8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
Warwickshire
CV10 7RJ

25 September 2024

 

JB Estates Ltd

(Registration number: 06229821)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

5

108,000

-

Tangible assets

6

3,368

4,192

 

111,368

4,192

Current assets

 

Debtors

7

9,869

7,360

Cash at bank and in hand

 

46,906

71,752

 

56,775

79,112

Creditors: Amounts falling due within one year

8

(105,452)

(71,550)

Net current (liabilities)/assets

 

(48,677)

7,562

Total assets less current liabilities

 

62,691

11,754

Creditors: Amounts falling due after more than one year

8

(51,114)

-

Net assets

 

11,577

11,754

Capital and reserves

 

Called up share capital

9

102

102

Retained earnings

11,475

11,652

Shareholders' funds

 

11,577

11,754

 

JB Estates Ltd

(Registration number: 06229821)
Balance Sheet as at 31 December 2023

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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 25 September 2024 and signed on its behalf by:

.........................................
Mr Philip Thomas Jefferies
Company secretary and director

.........................................
Mr Andrew John Bailey
Director

 

JB Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
Warwickshire
CV10 7RJ

These financial statements were authorised for issue by the Board on 25 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

JB Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture and fittings

25% reducing balance basis

Computer equipment

3 years straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Trademarks, patents and licenses

5 years straight line basis

Goodwill

5 years straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

JB Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks, other third parties and loans to related parties.

3

Staff numbers

The average number of persons employed by the company during the year, was 8 (2022 - 7).

 

JB Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

1,506

2,735

Amortisation expense

12,000

-

5

Intangible assets

Goodwill
 £

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 January 2023

20,800

41,000

61,800

Additions acquired separately

120,000

-

120,000

At 31 December 2023

140,800

41,000

181,800

Amortisation

At 1 January 2023

20,800

41,000

61,800

Amortisation charge

12,000

-

12,000

At 31 December 2023

32,800

41,000

73,800

Carrying amount

At 31 December 2023

108,000

-

108,000

At 31 December 2022

-

-

-

 

JB Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Tangible assets

Fixtures and fittings
£

Computer equipment
£

Total
£

Cost or valuation

At 1 January 2023

9,556

17,272

26,828

Additions

-

682

682

At 31 December 2023

9,556

17,954

27,510

Depreciation

At 1 January 2023

6,969

15,667

22,636

Charge for the year

647

859

1,506

At 31 December 2023

7,616

16,526

24,142

Carrying amount

At 31 December 2023

1,940

1,428

3,368

At 31 December 2022

2,587

1,605

4,192

7

Debtors

2023
£

2022
£

Trade debtors

-

4,770

Prepayments

9,369

2,590

Other debtors

500

-

9,869

7,360

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

8,912

2,322

Amounts owed to parent undertakings

11

52,375

58,787

Taxation and social security

 

4,195

1,724

Other creditors

 

39,970

8,717

 

105,452

71,550

Due after one year

 

Other non-current financial liabilities

 

51,114

-

 

JB Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

9

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

Ordinary A shares of £1 each

2

2

2

2

102

102

102

102

10

Financial commitments, guarantees and contingencies

Debenture held by Bank of Scotland - Fixed and floating charge over the undertaking and all property and assets present and future including goodwill book debts uncalled captial buildings fixtures fixed plant and machinery.

11

Related party transactions

The entity has taken advantage of the related party exemption due to being wholly owned by the parent company.