JTA Properties Limited 10385578 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of property development Digita Accounts Production Advanced 6.30.9574.0 true 10385578 2023-04-01 2024-03-31 10385578 2024-03-31 10385578 core:CurrentFinancialInstruments 2024-03-31 10385578 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 10385578 core:Non-currentFinancialInstruments 2024-03-31 10385578 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 10385578 core:OfficeEquipment 2024-03-31 10385578 bus:SmallEntities 2023-04-01 2024-03-31 10385578 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 10385578 bus:FullAccounts 2023-04-01 2024-03-31 10385578 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 10385578 bus:RegisteredOffice 2023-04-01 2024-03-31 10385578 bus:Director1 2023-04-01 2024-03-31 10385578 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10385578 core:ComputerEquipment 2023-04-01 2024-03-31 10385578 core:OfficeEquipment 2023-04-01 2024-03-31 10385578 countries:EnglandWales 2023-04-01 2024-03-31 10385578 2023-03-31 10385578 core:OfficeEquipment 2023-03-31 10385578 2022-04-01 2023-03-31 10385578 2023-03-31 10385578 core:CurrentFinancialInstruments 2023-03-31 10385578 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 10385578 core:Non-currentFinancialInstruments 2023-03-31 10385578 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 10385578 core:OfficeEquipment 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 10385578

JTA Properties Limited

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 31 March 2024

 

JTA Properties Limited

(Registration number: 10385578)
Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

723

845

Investment property

5

1,200,000

1,200,000

 

1,200,723

1,200,845

Current assets

 

Debtors

6

3,198

595

Cash at bank and in hand

 

41,300

74,723

 

44,498

75,318

Creditors: Amounts falling due within one year

7

(6,524)

(21,707)

Net current assets

 

37,974

53,611

Total assets less current liabilities

 

1,238,697

1,254,456

Creditors: Amounts falling due after more than one year

7

(844,994)

(844,994)

Provisions for liabilities

(60,924)

(60,924)

Net assets

 

332,779

348,538

Capital and reserves

 

Called up share capital

10

10

Fair value reserve

282,078

282,078

Profit and loss account

50,691

66,450

Shareholders' funds

 

332,779

348,538

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income and expenditure Statement has been taken.

Approved and authorised by the Board on 26 November 2024 and signed on its behalf by:
 

 

JTA Properties Limited

(Registration number: 10385578)
Statement of Financial Position as at 31 March 2024

.........................................
Mrs D A Salkeld
Director

 

JTA Properties Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is: Greyfriars, Hollybush Ride, Finchampstead, Wokingham, Berkshire, RG40 3QP.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

JTA Properties Limited

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

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer Equipment

25% on the reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income and expenditure statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

 

JTA Properties Limited

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

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 April 2023

1,127

1,127

Additions

118

118

At 31 March 2024

1,245

1,245

Depreciation

At 1 April 2023

282

282

Charge for the year

240

240

At 31 March 2024

522

522

Carrying amount

At 31 March 2024

723

723

At 31 March 2023

845

845

5

Investment properties

2024
£

At 1 April 2023

1,200,000

At 31 March 2024

1,200,000

There has been no valuation of investment property by an independent valuer.

6

Debtors

2024
£

2023
£

Other debtors

3,198

595

3,198

595

 

JTA Properties Limited

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

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Taxation and social security

401

3,583

Accruals and deferred income

960

960

Other creditors

5,163

17,164

6,524

21,707

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Loans and borrowings

8

844,994

844,994

8

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

44,994

44,994

Other borrowings

800,000

800,000

844,994

844,994