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REGISTERED NUMBER: 04371634 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

J.A.G. Property Development Ltd

J.A.G. Property Development Ltd (Registered number: 04371634)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


J.A.G. Property Development Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTORS: R J Williams
A S Powell





SECRETARY: R J Williams





REGISTERED OFFICE: 21 Church Road
Parkstone
Poole
Dorset
BH14 8UF





REGISTERED NUMBER: 04371634 (England and Wales)





ACCOUNTANT: Richard Allen & Associates
21 Church Road
Parkstone
Poole
Dorset
BH14 8UF

J.A.G. Property Development Ltd (Registered number: 04371634)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 286 336
Investment property 5 800,000 890,000
800,286 890,336

CURRENT ASSETS
Debtors 6 3,621 4,336
Cash at bank and in hand 3,122 7,546
6,743 11,882
CREDITORS
Amounts falling due within one year 7 80,208 79,134
NET CURRENT LIABILITIES (73,465 ) (67,252 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

726,821

823,084

CREDITORS
Amounts falling due after more than one
year

8

(473,441

)

(473,017

)

PROVISIONS FOR LIABILITIES (44,646 ) (61,746 )
NET ASSETS 208,734 288,321

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 208,731 288,318
SHAREHOLDERS' FUNDS 208,734 288,321

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.

J.A.G. Property Development Ltd (Registered number: 04371634)

Balance Sheet - 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 25 November 2024 and were signed on its behalf by:





A S Powell - Director


J.A.G. Property Development Ltd (Registered number: 04371634)

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

1. STATUTORY INFORMATION

J.A.G. Property Development 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% on reducing balance

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023
and 29 February 2024 2,010
DEPRECIATION
At 1 March 2023 1,674
Charge for year 50
At 29 February 2024 1,724
NET BOOK VALUE
At 29 February 2024 286
At 28 February 2023 336

J.A.G. Property Development Ltd (Registered number: 04371634)

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

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 890,000
Revaluations (90,000 )
At 29 February 2024 800,000
NET BOOK VALUE
At 29 February 2024 800,000
At 28 February 2023 890,000

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2004 39,955
Valuation in 2005 55,026
Valuation in 2007 20,000
Valuation in 2008 (120,000 )
Valuation in 2010 40,000
Valuation in 2015 60,000
Valuation in 2017 20,000
Valuation in 2023 210,000
Valuation in 2024 (90,000 )
Cost 565,019
800,000

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

2024 2023
£    £   
Cost 565,019 565,019

Investment Properties were valued on an open market basis on 29 February 2024 by Mr J Williams, Director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 812 1,488
Other debtors 2,809 2,848
3,621 4,336

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 3,314 5,115
Taxation and social security 3,494 5,132
Other creditors 73,400 68,887
80,208 79,134

J.A.G. Property Development Ltd (Registered number: 04371634)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 473,441 473,017

The mortgages are secured by a fixed charge over the assets of the company.