Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-292023-03-010truefalseRental of property0trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13917517 2023-03-01 2024-02-29 13917517 2022-02-15 2023-02-28 13917517 2024-02-29 13917517 2023-02-28 13917517 c:Director1 2023-03-01 2024-02-29 13917517 d:Buildings 2023-03-01 2024-02-29 13917517 d:Buildings 2024-02-29 13917517 d:Buildings 2023-02-28 13917517 d:CurrentFinancialInstruments 2024-02-29 13917517 d:CurrentFinancialInstruments 2023-02-28 13917517 d:Non-currentFinancialInstruments 2024-02-29 13917517 d:Non-currentFinancialInstruments 2023-02-28 13917517 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 13917517 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 13917517 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-29 13917517 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 13917517 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-02-29 13917517 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-02-28 13917517 d:ShareCapital 2024-02-29 13917517 d:ShareCapital 2023-02-28 13917517 d:RetainedEarningsAccumulatedLosses 2024-02-29 13917517 d:RetainedEarningsAccumulatedLosses 2023-02-28 13917517 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-02-29 13917517 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-02-28 13917517 c:FRS102 2023-03-01 2024-02-29 13917517 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 13917517 c:FullAccounts 2023-03-01 2024-02-29 13917517 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 13917517 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure

Registered number: 13917517









JC HOMES (SOUTH) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
JC HOMES (SOUTH) LIMITED
REGISTERED NUMBER: 13917517

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
251,567
251,567

  
251,567
251,567

Current assets
  

Cash at bank and in hand
 5 
10,698
6,104

  
10,698
6,104

Creditors: amounts falling due within one year
 6 
(88,111)
(87,238)

Net current liabilities
  
 
 
(77,413)
 
 
(81,134)

Total assets less current liabilities
  
174,154
170,433

Creditors: amounts falling due after more than one year
 7 
(180,000)
(180,000)

  

Net liabilities
  
(5,846)
(9,567)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(5,847)
(9,568)

  
(5,846)
(9,567)

Page 1

 
JC HOMES (SOUTH) LIMITED
REGISTERED NUMBER: 13917517
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 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 on 20 November 2024.




................................................
Paul Jaycock
Director

The notes on pages 3 to 8 form part of these financial statements.
Page 2

 
JC HOMES (SOUTH) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

The Company is a private company limited by share capital, incorporated in England and Wales. The principal activity of the Company is that of rental property.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The accounts have been prepared on a going concern basis, this assumes the continued support of the directors which they have pledged for the forseeable future.

 
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.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
JC HOMES (SOUTH) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
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.

 
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

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
0% straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

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 4

 
JC HOMES (SOUTH) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.9

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.

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


3.


Employees

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

Page 5

 
JC HOMES (SOUTH) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Tangible fixed assets







Freehold property

£



Cost or valuation


At 1 March 2023
251,567



At 29 February 2024

251,567






Net book value



At 29 February 2024
251,567



At 28 February 2023
251,567


5.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
10,698
6,104

10,698
6,104


Page 6

 
JC HOMES (SOUTH) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

6.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Amounts owed to group undertakings
85,538
85,538

Corporation tax
873
-

Other creditors
500
500

Accruals and deferred income
1,200
1,200

88,111
87,238



7.


Creditors: Amounts falling due after more than one year

29 February
28 February
2024
2023
£
£

Bank loans
180,000
180,000

180,000
180,000


The following liabilities were secured:

29 February
28 February
2024
2023
£
£



Bank loans
180,000
180,000

180,000
180,000

Details of security provided:

The bank loan is secured over the property.

Page 7

 
JC HOMES (SOUTH) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

8.


Loans


Analysis of the maturity of loans is given below:


29 February
28 February
2024
2023
£
£




Amounts falling due after more than 5 years

Bank loans
180,000
180,000

180,000
180,000



9.


Financial instruments

29 February
28 February
2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
10,698
6,104




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


10.


Controlling party

The Company is a wholly owned subsidiary of SPS Group Holdings Limited.
 
Page 8