1 February 2023 false No description of principal activity Taxfiler 2024.5 08382836business:PrivateLimitedCompanyLtd2023-02-012024-01-31 083828362023-01-31 083828362023-02-012024-01-31 08382836business:AuditExemptWithAccountantsReport2023-02-012024-01-31 08382836business:FilletedAccounts2023-02-012024-01-31 083828362024-01-31 08382836business:Director12023-02-012024-01-31 08382836business:Director22023-02-012024-01-31 08382836business:RegisteredOffice2023-02-012024-01-31 083828362023-01-31 08382836core:WithinOneYear2024-01-31 08382836core:WithinOneYear2023-01-31 08382836core:AfterOneYear2024-01-31 08382836core:AfterOneYear2023-01-31 08382836core:ShareCapitalcore:PreviouslyStatedAmount2024-01-31 08382836core:ShareCapitalcore:PreviouslyStatedAmount2023-01-31 08382836core:RevaluationReservecore:PreviouslyStatedAmount2024-01-31 08382836core:RevaluationReservecore:PreviouslyStatedAmount2023-01-31 08382836core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-01-31 08382836core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-01-31 08382836core:PreviouslyStatedAmount2024-01-31 08382836core:PreviouslyStatedAmount2023-01-31 08382836business:SmallEntities2023-02-012024-01-31 08382836countries:EnglandWales2023-02-012024-01-31 08382836core:FurnitureFittings2023-02-012024-01-31 08382836core:FurnitureFittings2023-01-31 08382836core:ComputerEquipment2023-01-31 08382836core:ComputerEquipment2023-02-012024-01-31 08382836core:FurnitureFittings2024-01-31 08382836core:ComputerEquipment2024-01-31 08382836core:MoreThanFiveYears2024-01-31 08382836core:MoreThanFiveYears2023-01-31 08382836core:RevaluationInvestmentPropertyDeferredTax2024-01-31 08382836core:RevaluationInvestmentPropertyDeferredTax2023-01-31 083828362022-01-31 083828362022-02-012023-01-31 08382836business:OrdinaryShareClass12023-02-012024-01-31 08382836business:OrdinaryShareClass12022-02-012023-01-31 08382836business:Director112023-02-012024-01-31 08382836business:Director112024-01-31 08382836business:Director222023-02-012024-01-31 08382836business:Director222024-01-31 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 08382836 (England and Wales)
PROPERTIES BY J AND J LTD Unaudited accounts for the year ended 31 January 2024
PROPERTIES BY J AND J LTD Unaudited accounts Contents
Page
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PROPERTIES BY J AND J LTD Company Information for the year ended 31 January 2024
Directors
James Aled Lloyd Joanne Michelle Lloyd
Company Number
08382836 (England and Wales)
Registered Office
10 High View Lightwater GU18 5YE
Accountants
SJC Accounting Ltd. 42 Calshot Way Frimley GU16 9FA
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PROPERTIES BY J AND J LTD Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
718 
1,042 
Investment property
1,906,000 
1,926,000 
1,906,718 
1,927,042 
Current assets
Debtors
139 
967 
Cash at bank and in hand
140,796 
138,517 
140,935 
139,484 
Creditors: amounts falling due within one year
(59,126)
(59,481)
Net current assets
81,809 
80,003 
Total assets less current liabilities
1,988,527 
2,007,045 
Creditors: amounts falling due after more than one year
(1,497,247)
(1,506,444)
Provisions for liabilities
Deferred tax
(87,338)
(70,177)
Net assets
403,942 
430,424 
Capital and reserves
Called up share capital
57,000 
57,000 
Revaluation reserve
282,976 
299,177 
Profit and loss account
63,966 
74,247 
Shareholders' funds
403,942 
430,424 
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 11 October 2024 and were signed on its behalf by
James Aled Lloyd Director Company Registration No. 08382836
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PROPERTIES BY J AND J LTD Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
PROPERTIES BY J AND J LTD is a private company, limited by shares, registered in England and Wales, registration number 08382836. The registered office is 10 High View, Lightwater, GU18 5YE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investment property
Investment property is included at market fair value. Revaluations of the properties are made with sufficient regularity to ensure that the carrying amount of the revalued fixed asset does not differ materially from that which would be determined using fair value at the balance sheet date. Gains and losses are recognised in the income statement. Deferred taxation is provided on these gains at a rate of 25%
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted. Tax has been calculated on the revaluation of investment properties at a rate of 25%
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
5
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PROPERTIES BY J AND J LTD Notes to the Accounts for the year ended 31 January 2024
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 February 2023
3,556 
1,869 
5,425 
Disposals
(1,408)
(1,869)
(3,277)
At 31 January 2024
2,148 
- 
2,148 
Depreciation
At 1 February 2023
2,514 
1,869 
4,383 
Charge for the year
324 
- 
324 
On disposals
(1,408)
(1,869)
(3,277)
At 31 January 2024
1,430 
- 
1,430 
Net book value
At 31 January 2024
718 
- 
718 
At 31 January 2023
1,042 
- 
1,042 
5
Investment property
2024 
£ 
Fair value at 1 February 2023
1,926,000 
Net loss from fair value adjustments
(20,000)
At 31 January 2024
1,906,000 
Valuation has been calculated using the average price based on Zoopla.co.uk on 18th June 2024. The directors have agreed these valuations
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
139 
967 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
56,544 
56,429 
Taxes and social security
2,582 
3,052 
59,126 
59,481 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
1,259,217 
1,264,526 
Loans from directors
238,030 
241,918 
1,497,247 
1,506,444 
Aggregate of amounts that fall due for payment after five years
1,018,854 
1,037,635 
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PROPERTIES BY J AND J LTD Notes to the Accounts for the year ended 31 January 2024
9
Deferred taxation
2024 
2023 
£ 
£ 
Revaluation of investment property
87,338 
70,177 
2024 
2023 
£ 
£ 
Provision at start of year
70,177 
69,037 
Charged to the profit and loss account
17,161 
1,140 
Provision at end of year
87,338 
70,177 
10
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
57 Ordinary shares of £1,000 each
57,000 
57,000 
11
Guarantees provided on behalf of directors
Maximum Liability Under Guarantees 
Amount paid and liability incurred 
£ 
£ 
James Aled Lloyd
Guarantor on mortgage for buy to let properties - Jointly and severely liable
1,275,023 
- 
Joanne Michelle Lloyd
Guarantor on mortgage for buy to let properties - Jointly and severely liable
1,275,023 
- 
2,550,046 
- 
Guarantees have been provided in respect of all 6 mortgages for the full value on the buy to let properties
12
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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