JWT Estates Limited 03574718 false 2023-05-01 2024-03-31 2024-03-31 The principal activity of the company is buying, selling, letting and developing of residential property. Digita Accounts Production Advanced 6.30.9574.0 true true 03574718 2023-05-01 2024-03-31 03574718 2024-03-31 03574718 bus:OrdinaryShareClass1 2024-03-31 03574718 bus:OrdinaryShareClass2 2024-03-31 03574718 bus:OrdinaryShareClass3 2024-03-31 03574718 bus:OrdinaryShareClass4 2024-03-31 03574718 bus:OrdinaryShareClass5 2024-03-31 03574718 core:RetainedEarningsAccumulatedLosses 2024-03-31 03574718 core:RevaluationReserve 2024-03-31 03574718 core:ShareCapital 2024-03-31 03574718 core:CurrentFinancialInstruments 2024-03-31 03574718 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 03574718 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 03574718 bus:SmallEntities 2023-05-01 2024-03-31 03574718 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-03-31 03574718 bus:FilletedAccounts 2023-05-01 2024-03-31 03574718 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-03-31 03574718 bus:RegisteredOffice 2023-05-01 2024-03-31 03574718 bus:Director2 2023-05-01 2024-03-31 03574718 bus:OrdinaryShareClass1 2023-05-01 2024-03-31 03574718 bus:OrdinaryShareClass2 2023-05-01 2024-03-31 03574718 bus:OrdinaryShareClass3 2023-05-01 2024-03-31 03574718 bus:OrdinaryShareClass4 2023-05-01 2024-03-31 03574718 bus:OrdinaryShareClass5 2023-05-01 2024-03-31 03574718 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-03-31 03574718 bus:Agent1 2023-05-01 2024-03-31 03574718 core:RetainedEarningsAccumulatedLosses 2023-05-01 2024-03-31 03574718 core:RevaluationReserve 2023-05-01 2024-03-31 03574718 core:ShareCapital 2023-05-01 2024-03-31 03574718 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-05-01 2024-03-31 03574718 core:ParentEntities 2023-05-01 2024-03-31 03574718 core:UKTax 2023-05-01 2024-03-31 03574718 countries:England 2023-05-01 2024-03-31 03574718 2023-04-30 03574718 core:RetainedEarningsAccumulatedLosses 2023-04-30 03574718 core:RevaluationReserve 2023-04-30 03574718 core:ShareCapital 2023-04-30 03574718 2022-05-01 2023-04-30 03574718 2023-04-30 03574718 bus:OrdinaryShareClass1 2023-04-30 03574718 bus:OrdinaryShareClass2 2023-04-30 03574718 bus:OrdinaryShareClass3 2023-04-30 03574718 bus:OrdinaryShareClass4 2023-04-30 03574718 bus:OrdinaryShareClass5 2023-04-30 03574718 core:CurrentFinancialInstruments 2023-04-30 03574718 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 03574718 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 03574718 core:RetainedEarningsAccumulatedLosses 2022-05-01 2023-04-30 03574718 core:RevaluationReserve 2022-05-01 2023-04-30 03574718 core:ShareCapital 2022-05-01 2023-04-30 03574718 core:UKTax 2022-05-01 2023-04-30 03574718 2022-04-30 03574718 core:RetainedEarningsAccumulatedLosses 2022-04-30 03574718 core:RevaluationReserve 2022-04-30 03574718 core:ShareCapital 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 03574718

JWT Estates Limited

Annual Report and Unaudited Financial Statements

for the Period from 1 May 2023 to 31 March 2024

 

JWT Estates Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Statement of Changes in Equity

4

Notes to the Unaudited Financial Statements

5 to 9

 

JWT Estates Limited

Company Information

Director

Mr HM Heaver





 

Registered office

Cawley Priory
South Pallant
Chichester
West Sussex
PO19 1SY





 

Solicitors

Foot Anstey LLP
The White Building
1-4 Cumberland Place
Southampton
Hampshire
SO15 2NP





 

Accountants

Blue Spire Limited
Cawley Priory
South Pallant
Chichester
West Sussex
PO19 1SY

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
JWT Estates Limited
for the Period Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of JWT Estates Limited for the period ended 31 March 2024 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of JWT Estates Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of JWT Estates Limited and state those matters that we have agreed to state to the Board of Directors of JWT Estates Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than JWT Estates Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that JWT Estates Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of JWT Estates Limited. You consider that JWT Estates Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of JWT Estates Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Blue Spire Limited
Cawley Priory
South Pallant
Chichester
West Sussex
PO19 1SY

16 July 2024

 

JWT Estates Limited

(Registration number: 03574718)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

5

3,770,000

3,585,000

Current assets

 

Debtors

6

561,248

60,415

Cash at bank and in hand

 

176,311

1,164,152

 

737,559

1,224,567

Creditors: Amounts falling due within one year

7

(29,282)

(246,581)

Net current assets

 

708,277

977,986

Total assets less current liabilities

 

4,478,277

4,562,986

Creditors: Amounts falling due after more than one year

7

-

(696,942)

Provisions for liabilities

(440,150)

(397,043)

Net assets

 

4,038,127

3,469,001

Capital and reserves

 

Called up share capital

8

1,000

1,000

Fair value reserve

966,966

1,281,678

Retained earnings

3,070,161

2,186,323

Shareholders' funds

 

4,038,127

3,469,001

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

Director's responsibilities:

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

The director acknowledges his 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 16 July 2024
 

.........................................
Mr HM Heaver
Director

 

JWT Estates Limited

Statement of Changes in Equity for the Period from 1 May 2023 to 31 March 2024




 

Share capital
£

Fair value reserve
£

Retained earnings
£

Total
£

At 1 May 2022

1,000

2,683,146

1,877,441

4,561,587

Loss for the period

-

-

(463,139)

(463,139)

Other comprehensive income

-

(1,401,468)

1,401,468

-

Total comprehensive income

-

(1,401,468)

938,329

(463,139)

Dividends

-

-

(629,447)

(629,447)

At 30 April 2023

1,000

1,281,678

2,186,323

3,469,001

Share capital
£

Fair value reserve
£

Retained earnings
£

Total
£

At 1 May 2023

1,000

1,281,678

2,186,323

3,469,001

Profit for the period

-

-

691,625

691,625

Other comprehensive income

-

(314,712)

499,712

185,000

Total comprehensive income

-

(314,712)

1,191,337

876,625

Dividends

-

-

(307,499)

(307,499)

At 31 March 2024

1,000

966,966

3,070,161

4,038,127

 

JWT Estates Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 31 March 2024

1

General information

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

The address of its registered office is:
Cawley Priory
South Pallant
Chichester
West Sussex
PO19 1SY

These financial statements were authorised for issue by the director on 16 July 2024.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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 sales/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.
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.

 

JWT Estates Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 31 March 2024

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate. 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.


Financial instruments
Financial instruments are recognised in line with 11 and 12 of FRS 102.

Basic financial instruments, such as bank and cash, loans, amounts due to/from group undertakings, trade receivables and payables are initially recognised at transaction price, unless they constitute a financing arrangement, when the transaction is measured at the present value of the future receipts/payments discounted at market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest rate method.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 0 (2023 - 0).



 

 

JWT Estates Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 31 March 2024

4

Taxation

Tax charged/(credited) in the income statement

1 May 2023 to 31 March 2024
 £

Year ended 30 April 2023
 £

Current taxation

UK corporation tax

8,665

181,158

Deferred taxation

Arising from origination and reversal of timing differences

43,107

(162,837)

Tax expense in the income statement

51,772

18,321




 

5

Investment properties

2024
£

At 1 May

3,585,000

Fair value adjustments

185,000

At 31 March

3,770,000


The company’s investment properties have been valued by the Director based on current market value at 31st March 2024. These have been reviewed post year end and it was concluded that values as stated are reasonable.

If the investment properties were accounted for using the historical cost method the amount of cost included would be £2,803,034.




 

6

Debtors

Note

2024
£

2023
£

Amounts owed by related parties

10

561,248

50,801

Other debtors

 

-

9,614

 

561,248

60,415

 

JWT Estates Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

8,917

49,410

Amounts owed to group undertakings and undertakings in which the company has a participating interest

10

-

309

Taxation and social security

 

8,665

181,158

Accruals and deferred income

 

11,700

2,520

Other creditors

 

-

13,184

 

29,282

246,581

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Other non-current financial liabilities

 

-

58,305

Amounts owed to group undertakings in which the company has a participating interest

10

-

638,637

 

-

696,942

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A of £1 each

100

100

100

100

Ordinary B of £1 each

100

100

100

100

Ordinary C of £1 each

100

100

100

100

Ordinary D of £1 each

100

100

100

100

Ordinary E of £1 each

100

100

100

100

Ordinary F of £1 each

100

100

100

100

Ordinary G of £1 each

100

100

100

100

Ordinary H of £1 each

100

100

100

100

Ordinary I of £1 each

100

100

100

100

Ordinary J of £1 each

100

100

100

100

1,000

1,000

1,000

1,000






 

 

JWT Estates Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 31 March 2024

9

Dividends

   

2024

 

2023

   

£

 

£

Dividend of £3,074.99 (2023 - £6,294.47) per ordinary share

 

307,499

 

629,447

10

Related party transactions

Summary of transactions with parent

Rawleigh Property Holdings Limited
At the balance sheet date £561,248 (2023: £34,703) was owed to JWT Estates Limited from its parent company.

 

Summary of transactions with entities with joint control or significant interest

The following are companies under common control of Rawleigh Property Holdings Limited:

Mecabury Properties Limited - At the balance sheet date £Nil (2023: £638,636) was owed from JWT Estates Limited.

Rawleigh Homes Group Limited - At the balance sheet date £Nil (2023: £16,098) was owed to JWT Estates Limited.

Rawleigh Property Management Limited - At the balance sheet date £Nil (2023: £309) was owed from JWT Estates Limited.