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REGISTERED NUMBER: 10613017 (England and Wales)















Financial Statements for the Year Ended 29 February 2024

for

JRM Partnership Ltd.

JRM Partnership Ltd. (Registered number: 10613017)






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


JRM Partnership Ltd.

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Mrs M K Manic
J Manic





REGISTERED OFFICE: 21 Oakwood Drive
Leeds
West Yorkshire
LS8 2JB





REGISTERED NUMBER: 10613017 (England and Wales)





ACCOUNTANTS: Richard Smedley Limited
Chartered Accountants & Registered Auditors
Richmond House
Lawnswood Business Park
Redvers Close
Leeds
West Yorkshire
LS16 6QY

JRM Partnership Ltd. (Registered number: 10613017)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 599 724
Investment property 5 637,000 579,000
637,599 579,724

CURRENT ASSETS
Cash at bank 5,840 4,464

CREDITORS
Amounts falling due within one year 6 489,292 496,220
NET CURRENT LIABILITIES (483,452 ) (491,756 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

154,147

87,968

CREDITORS
Amounts falling due after more than one year 7 (12,864 ) (12,864 )

PROVISIONS FOR LIABILITIES (32,275 ) (13,395 )
NET ASSETS 109,008 61,709

CAPITAL AND RESERVES
Called up share capital 100 100
Non-distributable reserve 9 105,857 66,587
Retained earnings 3,051 (4,978 )
109,008 61,709

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.

JRM Partnership Ltd. (Registered number: 10613017)

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:





J Manic - Director


JRM Partnership Ltd. (Registered number: 10613017)

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

1. STATUTORY INFORMATION

JRM Partnership 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 represents rents due for the period.

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 reducing balance
Computer equipment - 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.

Financial instruments
Basic financial instruments are recognised at amortised cost, derivative financial instruments are initially recorded at cost and thereafter at fair value with changes 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).

JRM Partnership Ltd. (Registered number: 10613017)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 March 2023
and 29 February 2024 294 1,260 1,554
DEPRECIATION
At 1 March 2023 129 701 830
Charge for year 41 84 125
At 29 February 2024 170 785 955
NET BOOK VALUE
At 29 February 2024 124 475 599
At 28 February 2023 165 559 724

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 579,000
Revaluations 58,000
At 29 February 2024 637,000
NET BOOK VALUE
At 29 February 2024 637,000
At 28 February 2023 579,000

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2019 15,982
Valuation in 2021 14,000
Valuation in 2022 50,000
Valuation in 2024 58,000
Cost 499,018
637,000

JRM Partnership Ltd. (Registered number: 10613017)

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

5. INVESTMENT PROPERTY - continued

If the investment property had not been revalued it would have been included at the following historical cost:

29.2.24 28.2.23
£    £   
Cost 499,018 499,018

The investment property was valued on an open market basis on 29 February 2024 by the director .

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Taxation and social security 249 -
Other creditors 489,043 496,220
489,292 496,220

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans 12,864 12,864

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 12,864 12,864

8. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Bank loans 12,864 12,864

Paragon Mortgages hold a floating and negative pledge against the property held by the company.

9. RESERVES
Non-distribu
reserve
£   
At 1 March 2023 66,587
Revaluations 39,270

At 29 February 2024 105,857