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REGISTERED NUMBER: 02071709 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Jetbros Properties Limited

Jetbros Properties Limited (Registered number: 02071709)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Jetbros Properties Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Ramesh Jethwa
Pradeep Jethwa
Nilesh Jethwa





SECRETARY: Pradeep Jethwa





REGISTERED OFFICE: 364-368 Cranbrook Road
Ilford
Essex
IG2 6HY





REGISTERED NUMBER: 02071709 (England and Wales)





ACCOUNTANTS: Prestons
Chartered Accountants
364-368 Cranbrook Road
Gants Hill
Ilford
Essex
IG2 6HY

Jetbros Properties Limited (Registered number: 02071709)

Balance Sheet
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 4,630,000 3,633,882
4,630,000 3,633,882

CURRENT ASSETS
Debtors 6 258,693 445,621
Cash at bank 225,882 353,688
484,575 799,309
CREDITORS
Amounts falling due within one year 7 41,443 34,178
NET CURRENT ASSETS 443,132 765,131
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,073,132

4,399,013

CREDITORS
Amounts falling due after more than one
year

8

(33,478

)

(437,009

)

PROVISIONS FOR LIABILITIES (110,000 ) (110,000 )
NET ASSETS 4,929,654 3,852,004

Jetbros Properties Limited (Registered number: 02071709)

Balance Sheet - continued
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 6 6
Fair value reserve 9 2,251,816 1,255,698
Retained earnings 2,677,832 2,596,300
4,929,654 3,852,004

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 October 2024 and were signed on its behalf by:




Nilesh Jethwa - Director Pradeep Jethwa - Director




Ramesh Jethwa - Director


Jetbros Properties Limited (Registered number: 02071709)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Jetbros Properties 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.

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.

Turnover
Turnover is measured as the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover is rent receivable during the year from the renting of properties.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Investment property
Investment property is shown at most recent valuation.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Jetbros Properties Limited (Registered number: 02071709)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Debtors
Basic financial assets, including trade and other debtors, 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, less any impairment.

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, 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 payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less and impairment.

Going concern
The directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. It is for this reason the accounts have been prepared on a going concern basis.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 30,024
DEPRECIATION
At 1 April 2023
and 31 March 2024 30,024
NET BOOK VALUE
At 31 March 2024 -

Jetbros Properties Limited (Registered number: 02071709)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 3,633,882
Revaluations 996,118
At 31 March 2024 4,630,000
NET BOOK VALUE
At 31 March 2024 4,630,000
At 31 March 2023 3,633,882

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2019 3,633,882
Valuation in 2024 996,118
4,630,000

If investment properties had not been revalued they would have been included at the following historical cost:

31/3/24 31/3/23
£    £   
Cost 1,372,302 1,372,302

Investment properties were valued on fair value basis on 31 March 2024 by the directors .

6. DEBTORS
31/3/24 31/3/23
£    £   
Amounts falling due within one year:
Other debtors 27,120 23,781

Amounts falling due after more than one year:
Other debtors 231,573 421,840

Aggregate amounts 258,693 445,621

Jetbros Properties Limited (Registered number: 02071709)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Taxation and social security 35,177 27,809
Other creditors 6,266 6,369
41,443 34,178

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31/3/24 31/3/23
£    £   
Bank loans - 403,531
Other creditors 33,478 33,478
33,478 437,009

9. RESERVES
Fair
value
reserve
£   
At 1 April 2023 1,255,698
Revaluation 996,118

At 31 March 2024 2,251,816

10. RELATED PARTY DISCLOSURES

The directors were paid £1,040, £960 and £864 for postage and stationery, telephone and travel respectively during the year.

11. ULTIMATE CONTROLLING PARTY

The company is ultimately controlled by its directors.