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Registered number: 06767899









JESUS COLLEGE (STATION ROAD INVESTMENTS) LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
JESUS COLLEGE (STATION ROAD INVESTMENTS) LIMITED
REGISTERED NUMBER: 06767899

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2024
2023
2023
Note
£
£
£
£

FIXED ASSETS
  

Investment property
 4 
14,975,000
13,092,000

  
14,975,000
13,092,000

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 5 
1,468
431

Cash at bank and in hand
  
223,413
234,372

  
224,881
234,803

Creditors: amounts falling due within one year
 6 
(232,379)
(242,301)

NET CURRENT LIABILITIES
  
 
 
(7,498)
 
 
(7,498)

  

NET ASSETS
  
14,967,502
13,084,502


CAPITAL AND RESERVES
  

Called up share capital 
 7 
3,065,002
3,065,002

Revaluation reserve
 8 
11,902,500
10,019,500

  
14,967,502
13,084,502


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 profit and loss account 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: 




Dr R F Anthony
Director

Date: 8 November 2024

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
JESUS COLLEGE (STATION ROAD INVESTMENTS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


GENERAL INFORMATION

Jesus College (Station Road Investments) Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is Jesus College, Jesus Lane, Cambridge, CB5 8BL.
The parent undertaking of the smallest group to consolidate these financial statements is Jesus College which is a College of the University of Cambridge. The College's registered office is, Jesus College, Jesus Lane, Cambridge, CB5 8BL.
The Company's functional and presentational currency is GBP.

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

TURNOVER

Turnover comprises revenue recognised by the Company in respect of rental income received on investment properties during the year, exclusive of Value Added Tax.  Turnover is recognised as the fair value of the consideration received or receivable and is recognised over the period the rental income relates to.

 
2.3

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

INVESTMENT PROPERTY

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.5

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.

 
2.6

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.

Page 2

 
JESUS COLLEGE (STATION ROAD INVESTMENTS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.7

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.

 
2.8

DEED OF COVENANT

The deed of covenant payable to the parent undertaking is recognsied when it becomes legally payable.


3.


EMPLOYEES

The Company has no employees other than the directors, who did not receive any remuneration (2023 - £NIL).


4.


INVESTMENT PROPERTY


Freehold investment property

£



VALUATION


At 1 July 2023
13,092,000


Surplus on revaluation
1,883,000



AT 30 JUNE 2024
14,975,000

The 2024 valuations were made by the directors, based on professional advice received from Peck Property Consulting, on an open market value for existing use basis.







5.


DEBTORS

2024
2023
£
£


Trade debtors
1,468
431

1,468
431


Page 3

 
JESUS COLLEGE (STATION ROAD INVESTMENTS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Trade creditors
-
534

Amounts owed to group undertakings
229,114
238,136

Accruals and deferred income
3,265
3,631

232,379
242,301



7.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



3,065,002 (2023 - 3,065,002) Ordinary shares of £1.00 each
3,065,002
3,065,002



8.


RESERVES

Revaluation reserve

Includes all current and prior year revaluations in relation to the investment property.

Profit and loss account

Includes all current and prior year retained profits and losses.


9.


AUDITORS' INFORMATION

The auditors' report on the financial statements for the year ended 30 June 2024 was unqualified.

The audit report was signed on 12 November 2024 by Kelly Bretherick (Senior Statutory Auditor) on behalf of Peters Elworthy & Moore.

 
Page 4