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REGISTERED NUMBER: 13199051 (England and Wales)















Unaudited Financial Statements

for the Year Ended 29 February 2024

for

JJL Property Management Limited

JJL Property Management Limited (Registered number: 13199051)

Contents of the Financial Statements
for the Year Ended 29 February 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


JJL Property Management Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: L A White
J T White
J P White



REGISTERED OFFICE: 2 Waverley Road
Gloucester
GL2 0SZ



REGISTERED NUMBER: 13199051 (England and Wales)



ACCOUNTANTS: HATS Gloucester Ltd
48 Hucclecote Road
Gloucester
Gloucestershire
GL3 3RS



BANKERS: Starling Bank
5th Floor
London Fruit & Wool Exchange
1 Duval Square
London
E1 6PW

JJL Property Management Limited (Registered number: 13199051)

Statement of Financial Position
29 February 2024

29/2/24 28/2/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,662 -
Investment property 5 595,062 276,706
598,724 276,706

CURRENT ASSETS
Debtors 6 10,055 395
Cash at bank 143 15,557
10,198 15,952
CREDITORS
Amounts falling due within one year 7 561,832 294,345
NET CURRENT LIABILITIES (551,634 ) (278,393 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

47,090

(1,687

)

PROVISIONS FOR LIABILITIES 8,241 -
NET ASSETS/(LIABILITIES) 38,849 (1,687 )

CAPITAL AND RESERVES
Called up share capital 3 3
Fair value reserve 9 57,371 -
Retained earnings (18,525 ) (1,690 )
SHAREHOLDERS' FUNDS 38,849 (1,687 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

JJL Property Management Limited (Registered number: 13199051)

Statement of Financial Position - continued
29 February 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 November 2024 and were signed on its behalf by:




J P White - Director J T White - Director




L A White - Director


JJL Property Management Limited (Registered number: 13199051)

Notes to the Financial Statements
for the Year Ended 29 February 2024


1. STATUTORY INFORMATION

JJL Property Management Limited 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.

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 as modified by the revaluation of certain assets.

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% on cost

Investment property
Investment property is shown in the accounts at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Income Statement.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Going concern
Despite net current liabilities of £551,634 at 29 February 2024 (2023 - £278,393), the financial statements have been prepared on a going concern basis. The directors have reviewed the future cash flows of the company and have expressed their intention, along with that of JJL Carpentry Contractors Limited (a company under common control), to financially support the company for the foreseeable future. They therefore deem the going concern basis of preparation to be appropriate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

JJL Property Management Limited (Registered number: 13199051)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
Cost
Additions 3,662
At 29 February 2024 3,662
Net book value
At 29 February 2024 3,662

5. INVESTMENT PROPERTY
Total
£   
Fair value
At 1 March 2023 276,706
Additions 241,861
Revaluations 76,495
At 29 February 2024 595,062
Net book value
At 29 February 2024 595,062
At 28 February 2023 276,706

One of the investment properties has been revalued for the purposes of obtaining finance and as such the fair value of this property has increased to reflect this most recent revaluation. A second investment property has been acquired during the year. The fair value of this property is deemed to be equal to the cost.

If investment property had not been revalued it would have been included at its historic cost of £518,567 (2023 - £276,706).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Other debtors 10,055 395

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Other creditors 561,832 294,345

JJL Property Management Limited (Registered number: 13199051)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024


8. SECURED DEBTS

The following secured debts are included within creditors:

29/2/24 28/2/23
£    £   
Other loans 157,250 -

The loan is secured by way of a fixed charge over one of the company's investment properties and floating charges over other company assets and property.

9. RESERVES
Fair
value
reserve
£   
Fair value gains 57,371

At 29 February 2024 57,371

10. RELATED PARTY DISCLOSURES

JJL Carpentry Contractors Limited
A company under common control

The company has borrowed funds from JJL Carpentry Contractors Limited to fund the purchase and development of the investment properties. At 29 February 2024, the company owed JJL Carpentry Contractors Limited £403,516 (2023 - £293,208). The loan is interest free and unsecured with no fixed repayment terms.