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Registered number: 14228737









JERVIS COMMERCIAL LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
JERVIS COMMERCIAL LIMITED
 
 
COMPANY INFORMATION


Directors
L C Jervis 
D Jervis 




Registered number
14228737



Registered office
7 The Close

Norwich

Norfolk

NR1 4DJ




Accountants
MA Partners LLP
Chartered Accountants

7 The Close

Norwich

Norfolk

NR1 4DJ





 
JERVIS COMMERCIAL LIMITED
 

CONTENTS



Page
Accountants' Report
 
 
1
Balance Sheet
 
 
2 - 3
Notes to the Financial Statements
 
 
4 - 6

 
JERVIS COMMERCIAL LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF JERVIS COMMERCIAL LIMITED
FOR THE YEAR ENDED 31 JULY 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Jervis Commercial Limited for the year ended 31 July 2024 which comprise  the Balance Sheet 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 at https://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Jervis Commercial Limited, as a body, in accordance with the terms of our engagement letter dated 22 July 2022Our work has been undertaken solely to prepare for your approval the financial statements of Jervis Commercial Limited and state those matters that we have agreed to state to the Board of Directors of Jervis Commercial Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Jervis Commercial Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Jervis Commercial 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 Jervis Commercial Limited. You consider that Jervis Commercial Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Jervis Commercial 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.

  





MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ
 
7 October 2024
Page 1

 
JERVIS COMMERCIAL LIMITED
REGISTERED NUMBER: 14228737

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
510,198
510,198

  
510,198
510,198

Current assets
  

Debtors: amounts falling due within one year
 5 
4,595
4,593

Cash at bank and in hand
  
7,999
2,800

  
12,594
7,393

Creditors: amounts falling due within one year
 6 
(197,795)
(199,395)

Net current liabilities
  
 
 
(185,201)
 
 
(192,002)

Total assets less current liabilities
  
324,997
318,196

Creditors: amounts falling due after more than one year
 7 
(314,641)
(312,196)

  

Net assets
  
10,356
6,000


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
10,256
5,900

  
10,356
6,000

Page 2

 
JERVIS COMMERCIAL LIMITED
REGISTERED NUMBER: 14228737
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 7 October 2024.






L C Jervis
Director

The notes on pages 4 to 6 form part of these financial statements.
Page 3

 
JERVIS COMMERCIAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

The Company is a private Company limited by shares. It is both incorporated and domiciled in England and Wales. The address of its registered office is 7 The Close, Norwich, Norfolk, NR1 4DJ.
The Company's principal activity is that of property rental and the Company's principal place of activity is Cambridge.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover comprises rents receivable by the Company, recognised on an accruals basis.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
JERVIS COMMERCIAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Investment property


Freehold investment property

£



Valuation


At 1 August 2023
510,198



At 31 July 2024
510,198

The 2024 valuations were made by the Directors.







5.


Debtors

2024
2023
£
£


Trade debtors
4,560
4,560

Prepayments
35
33

4,595
4,593


Page 5

 
JERVIS COMMERCIAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
34,869
34,869

Trade creditors
2,280
1,435

Corporation tax
1,022
1,507

Other taxation and social security
760
2,860

Other creditors
157,524
157,524

Accruals
1,340
1,200

197,795
199,395



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
314,641
312,196

314,641
312,196


The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:

2024
2023
£
£


Repayable by instalments
175,167
172,722

175,167
172,722

Please provide details of the terms of payment or repayment and the rates of any interest payable on the amounts repayable more than five years after the balance sheet date.


8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 Ordinary shares of £1.00 each
100
100


 
Page 6