REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 September 2023 |
for |
JSA Properties (UK) Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 September 2023 |
for |
JSA Properties (UK) Limited |
JSA Properties (UK) Limited (Registered number: 03152564) |
Contents of the Financial Statements |
for the Year Ended 30 September 2023 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
JSA Properties (UK) Limited (Registered number: 03152564) |
Balance Sheet |
30 September 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 9 |
Retained earnings |
The director acknowledges his 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. |
JSA Properties (UK) Limited (Registered number: 03152564) |
Balance Sheet - continued |
30 September 2023 |
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 director and authorised for issue on |
JSA Properties (UK) Limited (Registered number: 03152564) |
Notes to the Financial Statements |
for the Year Ended 30 September 2023 |
1. | STATUTORY INFORMATION |
JSA Properties (UK) Limited is a |
Registered number: |
Registered office: |
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 period excluding VAT where applicable. |
Tangible fixed assets |
Fixtures and fittings | - |
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. |
Going concern |
The balance sheet at the end of the year recorded net current liabilities. However, the director believes that sufficient financial resources are available to the company to enable it to continue trading into the foreseeable future. Therefore, the financial statements have been prepared on a going concern basis. |
JSA Properties (UK) Limited (Registered number: 03152564) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2023 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 October 2022 |
and 30 September 2023 |
DEPRECIATION |
At 1 October 2022 |
Charge for year |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 October 2022 |
Additions | ( |
) |
Disposals | ( |
) |
Revaluations | 437,477 |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
Fair value at 30 September 2023 is represented by: |
£ |
Valuation in 2010 | 2,071,070 |
Valuation in 2012 | (365,081 | ) |
Valuation in 2013 | (40,308 | ) |
Valuation in 2014 | 75,330 |
Valuation in 2016 | 441,840 |
Valuation in 2017 | 189,058 |
Valuation in 2018 | 207,573 |
Valuation in 2019 | 77,778 |
Valuation in 2021 | 139,910 |
Valuation in 2023 | 437,477 |
Cost | 2,765,353 |
6,000,000 |
JSA Properties (UK) Limited (Registered number: 03152564) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2023 |
5. | INVESTMENT PROPERTY - continued |
If the investment properties had not been revalued they would have been included at the following historical cost: |
2023 | 2022 |
£ | £ |
Cost | 2,765,353 | 3,094,018 |
The investment properties were valued on a fair value basis on 30 September 2023 by the director . |
The valuation shown in the table above for 2010 includes all valuations up to the year 2010. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by related parties |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to related parties |
Taxation and social security |
Other creditors |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank loans |
Bank loans are secured on properties held within the buisness. |
9. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 October 2022 |
Disposal of property | (1,855,964 | ) |
Fair value adjustment | 437,477 |
Deferred tax | 324,692 |
At 30 September 2023 |
JSA Properties (UK) Limited (Registered number: 03152564) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2023 |
10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to the directors subsisted during the year ended 30 September 2023 and 30 September 2022 |
2023 | 2022 |
Director | £ | £ |
Amounts Advanced | 220,018 | 206,775 |
Amounts Repaid | (232,188 | ) | (339,037 | ) |
The loans to the director are repayable on demand. Interest is charged on loans at the official interest set by HMRC. |