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Registered number: 11350184










JMR PROPERTY DEVELOPMENTS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
JMR PROPERTY DEVELOPMENTS LIMITED
REGISTERED NUMBER: 11350184

BALANCE SHEET
AS AT 31 MAY 2024

2024
2024
2023
2023
Note
£
£
£
£

  

Current assets
  

Stocks
  
630,000
630,000

Debtors: amounts falling due within one year
 4 
4,677
30,000

Cash at bank and in hand
 5 
16
221

  
634,693
660,221

Creditors: amounts falling due within one year
 6 
(431,237)
(347,235)

Net current assets
  
 
 
203,456
 
 
312,986

Total assets less current liabilities
  
203,456
312,986

Creditors: amounts falling due after more than one year
 7 
(220,812)
(310,874)

  

Net (liabilities)/assets
  
(17,356)
2,112


Capital and reserves
  

Called up share capital 
  
55
35

Profit and loss account
  
(17,411)
2,077

  
(17,356)
2,112


Page 1

 
JMR PROPERTY DEVELOPMENTS LIMITED
REGISTERED NUMBER: 11350184
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 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 statement of income and retained earnings 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 by: 




................................................
Brian N Richens
Director

Date: 19 September 2024

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

Page 2

 
JMR PROPERTY DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

JMR Property Developments Limited is a private limited company, incorpoarted in England and Wales.
The registered office and principal place of business is 34 Church End, Renhold, Bedford, MK41 0LU.

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

Going concern

The Directors have given their guarantee that they will continue to support the Company to ensure the Company can meet its debts as they fall due for at least 12 months from the date of signing these accounts.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

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.

 
2.5

Borrowing costs

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

Page 3

 
JMR PROPERTY DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

  
2.7

Stock/WIP

Anticpated profit recognised as forseen and recognised as turnover. Profit estimated based on professional valuation of property.
At each Balance Sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

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, loans from banks and other
third parties, loans to related parties and investments in ordinary shares.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 4

 
JMR PROPERTY DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

3.


Employees




The average monthly number of employees, including directors, during the year was 4 (2023 - 3).


4.


Debtors

2024
2023
£
£


Other debtors
4,677
30,000



5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
16
221



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
10,000

Other loans
150,701
70,639

Corporation tax
-
15,273

Directors loan account
254,830
251,323

Accruals and deferred income
15,706
-

431,237
347,235


The bank loan is secured by a guarantee from the UK Government under the Bounce Back Loan Scheme.
Other loans are secured on 32 Top End, Renhold.

Page 5

 
JMR PROPERTY DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
10,833
20,833

Other loans
209,979
290,041

220,812
310,874


The bank loan is secured by a guarantee from the UK Government under the Bounce Back Loan Scheme.
Other loans are secured on 32 Top End, Renhold.


8.


Related party transactions

At the 31 May 2024 date £nil (2023: £30,000) was due from JR Builders Limited.
At the 31 May 2024 £360,680 (2023: £360,680) was owed to the director. Interest payments of £nil (2023: £9,434) were made during the year. Interest payable was accrued for the year ended 31 May 2024 of £15,706.
At 31 May 2024 the directors of the Company were owed £254,830 (2023 - £251,323) by the Company. These loans are interest free and repayble on demand.

 
Page 6