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REGISTERED NUMBER: 00935667 (England and Wales)















Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Julian Properties (Midlands) Limited

Julian Properties (Midlands) Limited (Registered number: 00935667)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Julian Properties (Midlands) Limited

Company Information
for the Year Ended 29 February 2024







DIRECTOR: J E Timmins





SECRETARY: Mrs P A Timmins





REGISTERED OFFICE: 3 Temple Street
West Bromwich
West Midlands
B70 9AE





REGISTERED NUMBER: 00935667 (England and Wales)





ACCOUNTANTS: Tomkinson Teal (Lichfield) LLP
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD

Julian Properties (Midlands) Limited (Registered number: 00935667)

Balance Sheet
29 February 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,524 1,793
Investment property 5 710,777 703,745
712,301 705,538

CURRENT ASSETS
Stocks 6 182,844 182,844
Debtors 7 254,922 225,310
Cash at bank 5,659 26,678
443,425 434,832
CREDITORS
Amounts falling due within one year 8 (35,851 ) (34,102 )
NET CURRENT ASSETS 407,574 400,730
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,119,875

1,106,268

PROVISIONS FOR LIABILITIES 9 (89,800 ) (89,850 )
NET ASSETS 1,030,075 1,016,418

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 1,029,975 1,016,318
SHAREHOLDERS' FUNDS 1,030,075 1,016,418

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 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.

Julian Properties (Midlands) Limited (Registered number: 00935667)

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 director and authorised for issue on 3 September 2024 and were signed by:





J E Timmins - Director


Julian Properties (Midlands) Limited (Registered number: 00935667)

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

1. STATUTORY INFORMATION

Julian Properties (Midlands) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

There are no material departures from the standard.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Investment property
Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in market value is transferred to revaluation reserve.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3. EMPLOYEES AND DIRECTORS

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

Julian Properties (Midlands) Limited (Registered number: 00935667)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 March 2023
and 29 February 2024 6,515
DEPRECIATION
At 1 March 2023 4,722
Charge for year 269
At 29 February 2024 4,991
NET BOOK VALUE
At 29 February 2024 1,524
At 28 February 2023 1,793

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 703,745
Additions 7,032
At 29 February 2024 710,777
NET BOOK VALUE
At 29 February 2024 710,777
At 28 February 2023 703,745

Investment property was valued on an open market basis on 28 February 2024 by the director.

6. STOCKS

Stocks comprise of land for development.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 7,315 2,642
Other debtors 247,607 222,668
254,922 225,310

Julian Properties (Midlands) Limited (Registered number: 00935667)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 8,465 6,977
Taxation and social security 5,983 6,520
Other creditors 21,403 20,605
35,851 34,102

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 89,800 89,850

Deferred
tax
£   
Balance at 1 March 2023 89,850
Credit to Profit and loss account during year (50 )
Balance at 29 February 2024 89,800

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
40 Ordinary A £1 40 40
40 Ordinary B £1 40 40
10 Ordinary C £1 10 10
10 Ordinary D £1 10 10
100 100

11. RELATED PARTY DISCLOSURES

Arbor Townscape Limited

A company of which J E Timmins is a director


The amount owed by Arbor Townscape Limited of £68,034 (2023 - £70,573) is unsecured and has no specific terms regarding payment of interest. The amount due is repayable on demand but the director of Julian Properties (Midlands) Limited has given his assurance that the amount payable will not be demanded until such time as this company can afford to do so without detriment to its operating and working capital needs.

Julian Properties (Midlands) Limited (Registered number: 00935667)

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

11. RELATED PARTY DISCLOSURES - continued

Arbor Townscape (Contracts) Limited

A company of which J E Timmins is a director


Rent receivable £12,000 (2022 - £12,000)

The amount owed by Arbor Townscape (Contracts) Limited of £179,573 (2023 - £152,095) is unsecured and has no specific terms regarding payment of interest. The amount due is repayable on demand but the director of Julian Properties (Midlands) Limited has given his assurance that the amount payable will not be demanded until such time as this company can afford to do so without detriment to its operating and working capital needs.

Chorley Developments Limited

A company of which J E Timmins is a director


The amount owed to Chorley Developments Limited of £19,103 (2023 - £18,594) is unsecured and has no specific terms regarding payment of interest. The amount due is repayable on demand but the director of Chorley Developments Limited has given his assurance that the amount payable will not be demanded until such time as this company can afford to do so without detriment to its operating and working capital needs.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Julian Properties (Midlands) Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Julian Properties (Midlands) Limited for the year ended 29 February 2024 which comprise the Profit and loss account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Julian Properties (Midlands) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Julian Properties (Midlands) Limited and state those matters that we have agreed to state to the director of Julian Properties (Midlands) Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Julian Properties (Midlands) Limited and its director for our work or for this report.

It is your duty to ensure that Julian Properties (Midlands) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Julian Properties (Midlands) Limited. You consider that Julian Properties (Midlands) Limited 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 financial statements of Julian Properties (Midlands) Limited. 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 financial statements.






Tomkinson Teal (Lichfield) LLP
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD


3 September 2024