Company Registration No. 14204561 (England and Wales)
JONMA PROPERTIES LTD
Unaudited accounts
for the year ended 30 June 2024
JONMA PROPERTIES LTD
Unaudited accounts
Contents
JONMA PROPERTIES LTD
Company Information
for the year ended 30 June 2024
Directors
P A Dorai
J Fairburn
Company Number
14204561 (England and Wales)
Registered Office
PLUM PUDDING HILL UPPER STREET
BAYLHAM
IPSWICH
SUFFOLK
IP6 8JR
UNITED KINGDOM
Accountants
Accountancy Plus & Payroll People Ltd
9 Langley Street
Langley
Norwich
Norfolk
NR14 6DE
JONMA PROPERTIES LTD
Statement of financial position
as at 30 June 2024
Investment property
1,480,000
1,368,600
Cash at bank and in hand
4,587
2,501
Creditors: amounts falling due within one year
(1,405,321)
(1,378,085)
Net current liabilities
(1,398,575)
(1,370,600)
Total assets less current liabilities
82,100
(1,100)
Provisions for liabilities
Net assets/(liabilities)
60,934
(1,100)
Called up share capital
10
10
Fair value reserve
90,234
-
Profit and loss account
(29,310)
(1,110)
Shareholders' funds
60,934
(1,100)
For the year ending 30 June 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 31 October 2024 and were signed on its behalf by
P A Dorai
Director
Company Registration No. 14204561
JONMA PROPERTIES LTD
Notes to the Accounts
for the year ended 30 June 2024
JONMA PROPERTIES LTD is a private company, limited by shares, registered in England and Wales, registration number 14204561. The registered office is PLUM PUDDING HILL UPPER STREET, BAYLHAM, IPSWICH, SUFFOLK, IP6 8JR, UNITED KINGDOM.
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.
The Directors have considered the Company's position at the time of signing of the financial statements, and based on this, the Directors have concluded that they have a reasonable expectation the Company will have adequate resources to continue in operation existence for the foreseeable future and there therefore continue to adopt the going concern basis of the accounting in preparing thee financial statements.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% reducing balance
Investment property is included at market fair value determined annually by the directs. 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.
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.
Cash is represented by cash in hand and deposits with financial institutions repayable within 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 know amounts of cash with insignificant risk of change in value.
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, loan to related parties and investments in ordinary shares.
JONMA PROPERTIES LTD
Notes to the Accounts
for the year ended 30 June 2024
Short term creditors are measured at transaction price. Other financial liabilities, including bank loans are measured initially at fair value, net of transactions costs, and are measure subsequently at amortised cost using the effective interest method.
The fair value reserve reflects the aggregate uplift value of the properties over their acquisition cost, minus the associated deferred taxation. This is a non distributable under section 830 of the Companies Act 2006.
Finance costs are charged to the profit or loss over the terms 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 proceeded of the associated capital instrument.
All borrowing costs are recognised in the profit or loss in the in which they are incurred.
4
Tangible fixed assets
Motor vehicles
Fair value at 1 July 2023
1,368,600
Net gain from fair value adjustments
111,400
The 2024 valuations were undertaken by the directors.
Amounts falling due within one year
Accrued income and prepayments
1,968
251
JONMA PROPERTIES LTD
Notes to the Accounts
for the year ended 30 June 2024
7
Creditors: amounts falling due within one year
2024
2023
Other creditors
10,013
8,801
Loans from directors
1,392,923
1,361,769
8
Average number of employees
During the year the average number of employees was 2 (2023: 1).