Caseware UK (AP4) 2023.0.135 2023.0.135 2023-03-312023-03-312trueReal estate investmenttruefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2022-04-012 13011531 2022-04-01 2023-03-31 13011531 2021-04-01 2022-03-31 13011531 2023-03-31 13011531 2022-03-31 13011531 c:Director1 2022-04-01 2023-03-31 13011531 d:FreeholdInvestmentProperty 2023-03-31 13011531 d:FreeholdInvestmentProperty 2022-03-31 13011531 d:CurrentFinancialInstruments 2023-03-31 13011531 d:CurrentFinancialInstruments 2022-03-31 13011531 d:Non-currentFinancialInstruments 2023-03-31 13011531 d:Non-currentFinancialInstruments 2022-03-31 13011531 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 13011531 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 13011531 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 13011531 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 13011531 d:ShareCapital 2023-03-31 13011531 d:ShareCapital 2022-03-31 13011531 d:RetainedEarningsAccumulatedLosses 2023-03-31 13011531 d:RetainedEarningsAccumulatedLosses 2022-03-31 13011531 c:FRS102 2022-04-01 2023-03-31 13011531 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 13011531 c:FullAccounts 2022-04-01 2023-03-31 13011531 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 13011531 e:PoundSterling 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 13011531










JB PROPERTIES 88 BAXENDALE LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
JB PROPERTIES 88 BAXENDALE LTD
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 6

 
JB PROPERTIES 88 BAXENDALE LTD
REGISTERED NUMBER: 13011531

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
385,029
385,029

  
385,029
385,029

Current assets
  

Cash at bank and in hand
  
12,584
5,183

  
12,584
5,183

Creditors: amounts falling due within one year
 5 
(117,039)
(161,247)

Net current liabilities
  
 
 
(104,455)
 
 
(156,064)

Total assets less current liabilities
  
280,574
228,965

Creditors: amounts falling due after more than one year
 6 
(283,127)
(229,500)

  

Net liabilities
  
(2,553)
(535)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(2,653)
(635)

  
(2,553)
(535)


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 comprehensive income 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 15 November 2024.




Page 1

 
JB PROPERTIES 88 BAXENDALE LTD
REGISTERED NUMBER: 13011531
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

P Beynon
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
JB PROPERTIES 88 BAXENDALE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

JB Properties 88 Baxendale Limited is a private company limited by shares and registered in England and Wales. The registered office is 14th Floor, 33 Cavendish Square, London, W1G 0PW.

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 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. Turnover is measured as the fair value of the consideration received or receivable.

 
2.3

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.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Investment property

Investment property is carried at fair value determined annually by the directors 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.

 
2.6

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.

 
2.7

Creditors

Short-term creditors are measured at the transaction price.

 
2.8

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.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.
Page 3

 
JB PROPERTIES 88 BAXENDALE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.8
Financial instruments (continued)


Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) 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 debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Page 4

 
JB PROPERTIES 88 BAXENDALE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.8
Financial instruments (continued)

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Investment property


Investment property

£



Valuation


At 1 April 2022
385,029



At 31 March 2023
385,029







Page 5

 
JB PROPERTIES 88 BAXENDALE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other creditors
117,039
161,247



6.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
283,127
229,500


Bank loans are secured against the investment property held by the company.


7.


Related party transactions

Included within other creditors is an interest free loan to the value of £117,039 (2022: £161,247) owed to the directors of the company.

 
Page 6