Registered number
11890727
Jaybee Developments Ltd
Unaudited Filleted Accounts
31 March 2024
Jaybee Developments Ltd
Registered number: 11890727
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 26,403 35,031
Investments 4 1,088,832 1,079,146
1,115,235 1,114,177
Current assets
Debtors 5 1,637 633
Cash at bank and in hand 8,964 9,478
10,601 10,111
Creditors: amounts falling due within one year 6 (10,047) (11,899)
Net current assets/(liabilities) 554 (1,788)
Total assets less current liabilities 1,115,789 1,112,389
Creditors: amounts falling due after more than one year 7 (822,797) (826,796)
Provisions for liabilities (66,375) (50,649)
Net assets 226,617 234,944
Capital and reserves
Called up share capital 100 100
Profit and loss account 226,517 234,844
Shareholders' funds 226,617 234,944
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Justin Bailey
Director
Approved by the board on 20 November 2024
Jaybee Developments Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor Vehicles 25% Reducing Balance
Fixtures, fittings, tools and equipment 15% Straightline
Investments
Investment property, which is property held to earn rentals and/or for capital appreciation, is initally recognised at cost, which includes the purchase cost, legal fees and any directly attributable expediture. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 3,923 46,084 50,007
Additions 211 - 211
At 31 March 2024 4,134 46,084 50,218
Depreciation
At 1 April 2023 1,695 13,281 14,976
Charge for the year 638 8,201 8,839
At 31 March 2024 2,333 21,482 23,815
Net book value
At 31 March 2024 1,801 24,602 26,403
At 31 March 2023 2,228 32,803 35,031
4 Investment Property
Other
investments
£
Cost or valuation
At 1 April 2023 1,079,146
Additions 9,686
At 31 March 2024 1,088,832
Historical cost
At 1 April 2023 847,604
At 31 March 2024 857,290
During the 2024 yearend the directors carried out a revaluation of the properties now held by the Company. The estimated current resale values for the properties was established by looking at similar properties for sale in and around their immediate locations. Valuation as at 31st March 2024 is £1088,832 (2023:Valuation £1,079,146)

The combined historic cost value of the eight properties was £857,289 (2023:£847,604). The properties are not depreciated and any gain or loss under FR102 is now transferred to the profit and loss account as non distributable reserves and can no longer be transferred to the Revaluation Reserve
5 Debtors 2024 2023
£ £
Trade debtors 813 -
Other debtors 824 633
1,637 633
6 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 4,311 4,024
Trade creditors 179 40
Taxation and social security costs 2,524 1,431
Other creditors 3,033 6,404
10,047 11,899
7 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 19,799 24,110
Director's account due after more than 1 year 802,998 802,686
822,797 826,796
8 Transactions with Directors
During the year the directors used current accounts with the company to record amounts due to them and amounts drawn by them. The accounts show an amount owing back to the directors as at 31st March 2024 of £802,998.49 (2023: £802,686.49). The amount is repayable on demand and does not carry interest.
9 Related party transactions
None Noted
10 Controlling party
The company has two directors, Justin Bailey and Paula Bailey, each of whom own 50% of the company's shares. As such, they are jointly the controlling parties of the company.
11 Other information
Jaybee Developments Ltd is a private company limited by shares and incorporated in England. Its registered office is:
The Old Bank
Beaufort Street
Crickhowell
Wales
NP8 1AD
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