REGISTERED NUMBER: |
Financial Statements for the Year Ended 28 February 2024 |
for |
Jordan Property Rentals Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 28 February 2024 |
for |
Jordan Property Rentals Limited |
Jordan Property Rentals Limited (Registered number: 10629246) |
Contents of the Financial Statements |
for the Year Ended 28 February 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Jordan Property Rentals Limited |
Company Information |
for the Year Ended 28 February 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
The Retreat |
406 Roding Lane South |
Woodford Green |
Essex |
IG8 8EY |
Jordan Property Rentals Limited (Registered number: 10629246) |
Statement of Financial Position |
28 February 2024 |
28.2.24 | 28.2.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 9 |
Retained earnings | ( |
) | ( |
) |
The director acknowledges his 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. |
Jordan Property Rentals Limited (Registered number: 10629246) |
Statement of Financial Position - continued |
28 February 2024 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Jordan Property Rentals Limited (Registered number: 10629246) |
Notes to the Financial Statements |
for the Year Ended 28 February 2024 |
1. | STATUTORY INFORMATION |
Jordan Property Rentals Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Revenue 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 |
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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 |
Jordan Property Rentals Limited (Registered number: 10629246) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2024 |
4. | PROPERTY, PLANT AND EQUIPMENT |
Freehold |
property |
£ |
COST |
At 1 March 2023 |
and 28 February 2024 |
NET BOOK VALUE |
At 28 February 2024 |
At 28 February 2023 |
The Land at Worsley Avenue was valued at £50,000 on an open market basis on 28/02/2023. |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 March 2023 |
Revaluations | (22,000 | ) |
At 28 February 2024 |
NET BOOK VALUE |
At 28 February 2024 |
At 28 February 2023 |
The investment properties at St Johns Road were collectively valued at £531,000 on an open market basis on 28/02/2024. |
The investment property, 97 Thoroughgood Road was valued at £320,000 on an open market basis on 28/02/2024. |
6. | DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
28.2.24 | 28.2.23 |
£ | £ |
Amounts owed by participating interests | 805,759 | 774,423 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Other creditors contains a loan of £10,500 considered as an arms-length transaction. This loan is interest free and payable on demand. |
Jordan Property Rentals Limited (Registered number: 10629246) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2024 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
28.2.24 | 28.2.23 |
£ | £ |
Bank loans |
Amounts owed to participating interests | 268,256 | 268,256 |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst |
9. | RESERVES |
Revaluation |
reserve |
£ |
At 1 March 2023 |
Revaluation | (22,000 | ) |
At 28 February 2024 |
10. | RELATED PARTY DISCLOSURES |
The Director Mr G Jordan is considered to be key management personnel. |