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REGISTERED NUMBER: 13855040 (England and Wales)









Financial Statements

for the Year Ended 31 March 2024

for

Jessie Properties Ltd

Jessie Properties Ltd (Registered number: 13855040)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Jessie Properties Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: O Fryer
S C Rees





REGISTERED OFFICE: 28 Church Road
Stanmore
Middlesex
HA7 4XR





REGISTERED NUMBER: 13855040 (England and Wales)





ACCOUNTANTS: Parker Cavendish
Chartered Accountants
28 Church Road
Stanmore
Middlesex
HA7 4XR

Jessie Properties Ltd (Registered number: 13855040)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 4,862 6,000
Investment property 5 952,458 856,441
957,320 862,441

CURRENT ASSETS
Debtors 6 - 2,826
Cash at bank 5,117 18,324
5,117 21,150
CREDITORS
Amounts falling due within one year 7 (693,726 ) (582,299 )
NET CURRENT LIABILITIES (688,609 ) (561,149 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

268,711

301,292

CREDITORS
Amounts falling due after more than one
year

8

(299,762

)

(320,575

)
NET LIABILITIES (31,051 ) (19,283 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (31,151 ) (19,383 )
(31,051 ) (19,283 )

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.

Jessie Properties Ltd (Registered number: 13855040)

Statement of Financial Position - 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 November 2024 and were signed on its behalf by:




O Fryer - Director



S C Rees - Director


Jessie Properties Ltd (Registered number: 13855040)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Jessie Properties Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Income comprises rent receivable from investment properties and is recognised on an accruals basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% Straight line

Investment property
Initial measurement
Investment properties are initially measured at cost.

Subsequent measurement
Investment properties are measured at fair value at each reporting date with changes in fair values recognised in profit or loss. No depreciation is provided in respect of investment properties.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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).

Jessie Properties Ltd (Registered number: 13855040)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2023 8,000
Additions 1,150
At 31 March 2024 9,150
DEPRECIATION
At 1 April 2023 2,000
Charge for year 2,288
At 31 March 2024 4,288
NET BOOK VALUE
At 31 March 2024 4,862
At 31 March 2023 6,000

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 856,441
Additions 96,017
At 31 March 2024 952,458
NET BOOK VALUE
At 31 March 2024 952,458
At 31 March 2023 856,441

In the opinion of the Directors the company's investment property is stated at fair value at 31 March 2024.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors - 2,826

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 551,409 380,000
Directors' current accounts 140,398 197,621
Accruals and deferred income 1,919 4,678
693,726 582,299

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans more 5 yrs non-inst 299,762 320,575

Jessie Properties Ltd (Registered number: 13855040)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 299,762 320,575

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 299,762 320,575

The bank loan is secured by a charge over the company's investment property.