Company Registration No. 12807016 (England and Wales)
JL & T Properties Limited
Unaudited accounts
for the year ended 31 March 2024
JL & T Properties Limited
Unaudited accounts
Contents
JL & T Properties Limited
Company Information
for the year ended 31 March 2024
Directors
J C Owen
J Owen
L Owen
T Owen
Company Number
12807016 (England and Wales)
Registered Office
2 MEETING HOUSE LANE
BRIGHTON
BN1 1HB
ENGLAND
Accountants
D M Pettitt Accountancy Services
33 Bowmans Close
Steyning
West Sussex
BN44 3SR
JL & T Properties Limited
Statement of financial position
as at 31 March 2024
Investment property
1,835,017
1,835,017
Cash at bank and in hand
206,169
204,538
Creditors: amounts falling due within one year
(743,496)
(705,446)
Net current liabilities
(403,707)
(372,958)
Total assets less current liabilities
1,431,310
1,462,059
Provisions for liabilities
Deferred tax
(70,198)
(70,198)
Net assets
1,361,112
1,391,861
Called up share capital
100
100
Share premium
1,275,000
1,275,000
Profit and loss account
86,012
116,761
Shareholders' funds
1,361,112
1,391,861
For the 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. 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 30 September 2024 and were signed on its behalf by
J C Owen
Director
Company Registration No. 12807016
JL & T Properties Limited
Notes to the Accounts
for the year ended 31 March 2024
JL & T Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 12807016. The registered office is 2 MEETING HOUSE LANE, BRIGHTON, BN1 1HB, ENGLAND.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
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.
Fair value at 1 April 2023
1,835,017
At 31 March 2024
1,835,017
Amounts falling due within one year
Trade debtors
30,881
30,881
Other debtors
102,739
97,069
JL & T Properties Limited
Notes to the Accounts
for the year ended 31 March 2024
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
28,880
21,121
Loans from directors
713,726
671,889
7
Transactions with related parties
At 31 March 2024 the company owed its directors £713,726 (2023 £671,899) and this is included in creditors.
8
Average number of employees
During the year the average number of employees was 0 (2023: 0).