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REGISTERED NUMBER: 12227873 (England and Wales)















JIT PROPERTY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






JIT PROPERTY LIMITED (REGISTERED NUMBER: 12227873)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Report of the Accountants 2

Balance Sheet 3 to 4

Notes to the Financial Statements 5 to 7


JIT PROPERTY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: I J Bluck
J M Lad





SECRETARY:





REGISTERED OFFICE: Suite D, Astor House
282 Lichfield Road
Four Oaks
Sutton Coldfield
West Midlands
B74 2UG





REGISTERED NUMBER: 12227873 (England and Wales)





ACCOUNTANTS: Four Oaks Taxation & Accounting Services Limited
Suite D, Astor House
282 Lichfield Road
Four Oaks
Sutton Coldfield
West Midlands
B74 2UG

JIT PROPERTY LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
JIT PROPERTY LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2024 set out on pages two to four and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Four Oaks Taxation & Accounting Services Limited
Suite D, Astor House
282 Lichfield Road
Four Oaks
Sutton Coldfield
West Midlands
B74 2UG


23 October 2024

JIT PROPERTY LIMITED (REGISTERED NUMBER: 12227873)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 21,361 7,359
Investment property 5 1,064,676 359,517
1,086,037 366,876

CURRENT ASSETS
Debtors 6 10,000 60,349
Cash at bank 20,262 791
30,262 61,140
CREDITORS
Amounts falling due within one year 7 145,020 173,717
NET CURRENT LIABILITIES (114,758 ) (112,577 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

971,279

254,299

CREDITORS
Amounts falling due after more than one year 8 (743,460 ) (254,197 )

PROVISIONS FOR LIABILITIES (72,716 ) -
NET ASSETS 155,103 102

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 155,003 2
155,103 102

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.

JIT PROPERTY LIMITED (REGISTERED NUMBER: 12227873)

BALANCE SHEET - continued
31 MARCH 2024


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 23 October 2024 and were signed on its behalf by:




I J Bluck - Director



J M Lad - Director


JIT PROPERTY LIMITED (REGISTERED NUMBER: 12227873)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

JIT Property 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.

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

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

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

JIT PROPERTY LIMITED (REGISTERED NUMBER: 12227873)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 11,355
Additions 18,227
At 31 March 2024 29,582
DEPRECIATION
At 1 April 2023 3,996
Charge for year 4,225
At 31 March 2024 8,221
NET BOOK VALUE
At 31 March 2024 21,361
At 31 March 2023 7,359

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 359,517
Additions 439,662
Disposals (4,004 )
Revaluations 269,501
At 31 March 2024 1,064,676
NET BOOK VALUE
At 31 March 2024 1,064,676
At 31 March 2023 359,517

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2023 1,064,676

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings - 59,700
Other debtors 10,000 649
10,000 60,349

JIT PROPERTY LIMITED (REGISTERED NUMBER: 12227873)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1 -
Amounts owed to group undertakings 29,700 250
Other creditors 115,319 173,467
145,020 173,717

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 705,497 210,763
Other creditors 37,963 43,434
743,460 254,197

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst (10,612 ) (12,146 )

Repayable by instalments
Bank loans more 5 yr by instal 716,109 222,909