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REGISTERED NUMBER: SC265091 (Scotland)















Financial Statements for the Year Ended 31 March 2024

for

J S Property (Scotland) Limited

J S Property (Scotland) Limited (Registered number: SC265091)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


J S Property (Scotland) Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs C Lowe
Mrs F M Scanlan





SECRETARY: Mrs F M Scanlan





REGISTERED OFFICE: 4 King's Court
Glen Tye Road
Stirling
FK7 7LH





REGISTERED NUMBER: SC265091 (Scotland)






J S Property (Scotland) Limited (Registered number: SC265091)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,087,962 1,087,962

CURRENT ASSETS
Debtors 5 45,007 38,335
Cash at bank 2,759 4,094
47,766 42,429
CREDITORS
Amounts falling due within one year 6 82,178 121,801
NET CURRENT LIABILITIES (34,412 ) (79,372 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,053,550

1,008,590

CREDITORS
Amounts falling due after more than one
year

7

(163,827

)

(193,691

)

ACCRUALS AND DEFERRED INCOME (129,242 ) (129,242 )
NET ASSETS 760,481 685,657

CAPITAL AND RESERVES
Called up share capital 100,000 100,000
Retained earnings 660,481 585,657
SHAREHOLDERS' FUNDS 760,481 685,657

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.

J S Property (Scotland) Limited (Registered number: SC265091)

Balance Sheet - 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 November 2024 and were signed on its behalf by:





Mrs F M Scanlan - Director


J S Property (Scotland) Limited (Registered number: SC265091)

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

1. STATUTORY INFORMATION

J S Property (Scotland) Limited is a private company, limited by shares , registered in Scotland. 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.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 balance sheet date.

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 1,087,962
NET BOOK VALUE
At 31 March 2024 1,087,962
At 31 March 2023 1,087,962

J S Property (Scotland) Limited (Registered number: SC265091)

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

4. INVESTMENT PROPERTY - continued

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2004 111,265
Valuation in 2013 (187,802 )
Cost 1,164,499
1,087,962

If the investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,136,537 1,136,537

The investment properties were valued on a vacant possession basis on 16 April 2013 by D M Hall. .

5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Amounts owed by associates 32,391 25,391
Other debtors 11,466 11,794
43,857 37,185

Amounts falling due after more than one year:
Other debtors 1,150 1,150

Aggregate amounts 45,007 38,335

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 26,240 26,240
Amounts owed to associates 3,500 28,500
Taxation and social security 22,643 21,714
Other creditors 29,795 45,347
82,178 121,801

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 77,313 107,177
Other creditors 86,514 86,514
163,827 193,691

J S Property (Scotland) Limited (Registered number: SC265091)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 103,553 133,417

9. RELATED PARTY DISCLOSURES

Democraft Limited

Mrs Lowe, a director of JS Property (Scotland) Limited, controls the company named above. The balance due to that company at the balance sheet date was £3,500.

Logoxpres Limited

Mrs Scanlan, a director of JS Property (Scotland) Limited, control the company named above. Rent, including services charges, was charged to that company during the year concerned in the amount of £33,553. The balance due from that company at the balance sheet date was £32,391.

10. ULTIMATE CONTROLLING PARTY

The company is under the control of the directors.