Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Michael Gavin Sharp 26/03/2019 15 October 2024 The principal activity of the Company during the financial year was the letting of real estate. 11904565 2024-03-31 11904565 bus:Director1 2024-03-31 11904565 2023-03-31 11904565 core:CurrentFinancialInstruments 2024-03-31 11904565 core:CurrentFinancialInstruments 2023-03-31 11904565 core:Non-currentFinancialInstruments 2024-03-31 11904565 core:Non-currentFinancialInstruments 2023-03-31 11904565 core:ShareCapital 2024-03-31 11904565 core:ShareCapital 2023-03-31 11904565 core:RetainedEarningsAccumulatedLosses 2024-03-31 11904565 core:RetainedEarningsAccumulatedLosses 2023-03-31 11904565 bus:OrdinaryShareClass1 2024-03-31 11904565 2023-04-01 2024-03-31 11904565 bus:FilletedAccounts 2023-04-01 2024-03-31 11904565 bus:SmallEntities 2023-04-01 2024-03-31 11904565 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 11904565 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11904565 bus:Director1 2023-04-01 2024-03-31 11904565 2022-04-01 2023-03-31 11904565 core:CurrentFinancialInstruments 2023-04-01 2024-03-31 11904565 core:Non-currentFinancialInstruments 2023-04-01 2024-03-31 11904565 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 11904565 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 11904565 (England and Wales)

EMILIA JAYNE PROPERTIES LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

EMILIA JAYNE PROPERTIES LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

EMILIA JAYNE PROPERTIES LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
EMILIA JAYNE PROPERTIES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 541,664 446,409
541,664 446,409
Current assets
Cash at bank and in hand 6,791 13,948
6,791 13,948
Creditors: amounts falling due within one year 4 ( 367,368) ( 380,201)
Net current liabilities (360,577) (366,253)
Total assets less current liabilities 181,087 80,156
Creditors: amounts falling due after more than one year 5 ( 13,080) ( 23,274)
Provision for liabilities ( 23,814) 0
Net assets 144,193 56,882
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account 144,093 56,782
Total shareholders' funds 144,193 56,882

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Emilia Jayne Properties Limited (registered number: 11904565) were approved and authorised for issue by the Director on 15 October 2024. They were signed on its behalf by:

Michael Gavin Sharp
Director
EMILIA JAYNE PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
EMILIA JAYNE PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Emilia Jayne Properties Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Century House, Nicholson Road, Torquay, TQ2 7TD, England, United Kingdom. The principal place of business is Marina House, Heath Road, Brixham, TQ5 9AU.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Investment property

Investment property
£
Valuation
As at 01 April 2023 446,409
Fair value movement 95,255
As at 31 March 2024 541,664

The 2024 valuations were made by the directors, on an open market value for existing use basis.

4. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,183 9,932
Accruals 2,500 2,280
Taxation and social security 4,827 5,237
Other creditors 349,858 362,752
367,368 380,201

Other creditors shown above include balances secured against the company's assets by way of a fixed charge.

5. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 13,080 23,274

There are no amounts included above in respect of which any security has been given by the small entity.

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary A shares of £ 1.00 each 100 100

7. Related party transactions

Transactions with entities in which the entity itself has a participating interest

2024 2023
£ £
Amounts owed to associated companies 349,859 362,752

No interest has been charged on the above amounts and there are no fixed repayment terms.