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Registered number: 11269764
JM Brouwer (Property Services) Ltd
Unaudited Financial Statements
For The Year Ended 28 February 2024
Mumby Heppenstall
Chartered Accountants
Wellingore Hall
Wellingore
Lincoln
LN5 0HX
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 11269764
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 16,000 20,000
Tangible Assets 5 2,632 2,005
18,632 22,005
CURRENT ASSETS
Stocks 6 18,000 12,885
Debtors 7 32,811 42,867
Cash at bank and in hand 9,092 112,574
59,903 168,326
Creditors: Amounts Falling Due Within One Year 8 (50,995 ) (123,144 )
NET CURRENT ASSETS (LIABILITIES) 8,908 45,182
TOTAL ASSETS LESS CURRENT LIABILITIES 27,540 67,187
Creditors: Amounts Falling Due After More Than One Year 9 (26,315 ) (31,327 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (658 ) (501 )
NET ASSETS 567 35,359
CAPITAL AND RESERVES
Called up share capital 10 220 330
Capital redemption reserve 110 -
Income Statement 237 35,029
SHAREHOLDERS' FUNDS 567 35,359
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For the year ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr Jonathan Brouwer
Director
29th November 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
JM Brouwer (Property Services) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11269764 . The registered office is 55 High Street, Navenby, Lincoln, LN5 0DZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the entity.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to income statement over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 20% reducing balance
Computer Equipment 25% straight line
2.5. Stocks and Work in Progress
Stock represents work in progress relating to the sale of properties for costs incurred and not yet billed.
2.6. Financial Instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilites are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.8. Pensions
The company makes contributions to employees' personal pension schemes and to a workplace pension under auto-emrolment.  The annual contributions paid are charged to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Intangible Assets
Goodwill
£
Cost
As at 1 March 2023 40,000
As at 28 February 2024 40,000
Amortisation
As at 1 March 2023 20,000
Provided during the period 4,000
As at 28 February 2024 24,000
Net Book Value
As at 28 February 2024 16,000
As at 1 March 2023 20,000
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5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 March 2023 464 5,859 6,323
Additions 169 1,849 2,018
As at 28 February 2024 633 7,708 8,341
Depreciation
As at 1 March 2023 227 4,091 4,318
Provided during the period 82 1,309 1,391
As at 28 February 2024 309 5,400 5,709
Net Book Value
As at 28 February 2024 324 2,308 2,632
As at 1 March 2023 237 1,768 2,005
6. Stocks
2024 2023
£ £
Work in progress 18,000 12,885
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 22,704 17,201
Prepayments and accrued income 1,779 1,640
Other debtors 3,000 3,000
Broughton Land & Property Ltd 618 -
Land Consulting Ltd 4,710 -
VAT - 21,026
32,811 42,867
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 9,272 96,586
Bank loans and overdrafts 4,997 4,992
Corporation tax 6,482 2,117
Other taxes and social security 2,137 2,753
VAT 4,826 -
Pension fund 507 403
Accruals and deferred income 1,586 1,231
Directors' loan accounts 21,188 15,062
50,995 123,144
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9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 26,315 31,327
Of the creditors falling due after more than one year the following amounts are payable by instalments and are due after more than five years.  This amount relates to a Bounce Back Loan and the rate of interest is 2.5%.
2024 2023
£ £
Bank loans 6,315 11,327
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 220 330
11. Related Party Transactions
Management charges of £2,000 (2023: £101,150) have been paid to a company which is controlled by JM Brouwer and his wife,  RE Brouwer.  JM Brouwer and RE Brouwer together control, and are directors of, JM Brouwer (Property Services) Ltd.  At 29 February 2024 £5,328 (2023: £90,390) was owed to a companies under the control of JM Brouwer and RE Brouwer in respect of management charges.  
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