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Registration number: 10077559

Jb 2 Let Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Jb 2 Let Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Statement of Changes in Equity

4

Notes to the Unaudited Financial Statements

5 to 8

 

Jb 2 Let Limited

Company Information

Director

Mr J N Bown

Company secretary

Ms A J Fraser

Registered office

8 Belvior Dosthill
Tamworth
Staffs
B77 1JJ

Accountants

Wychbury Greaves
Station House
Station Road
Rugeley
Staffordshire
WS15 3HA

 

Jb 2 Let Limited

(Registration number: 10077559)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

714

908

Investment property

5

1,672,210

1,672,210

 

1,672,924

1,673,118

Current assets

 

Debtors

-

673

Cash at bank and in hand

 

4,099

4,504

 

4,099

5,177

Creditors: Amounts falling due within one year

(448,583)

(466,011)

Net current liabilities

 

(444,484)

(460,834)

Total assets less current liabilities

 

1,228,440

1,212,284

Creditors: Amounts falling due after more than one year

(1,105,479)

(1,105,479)

Net assets

 

122,961

106,805

Capital and reserves

 

Called up share capital

6

10

10

Retained earnings

122,951

106,795

Shareholders' funds

 

122,961

106,805

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.

Director's 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 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 19 November 2024
 

 

Jb 2 Let Limited

(Registration number: 10077559)
Balance Sheet as at 31 March 2024

.........................................
Mr J N Bown
Director

 

Jb 2 Let Limited

Statement of Changes in Equity for the Year Ended 31 March 2024

Share capital
£

Retained earnings
£

Total
£

At 1 April 2023

10

106,795

106,805

Profit for the year

-

17,156

17,156

Dividends

-

(1,000)

(1,000)

At 31 March 2024

10

122,951

122,961

Share capital
£

Retained earnings
£

Total
£

At 1 April 2022

10

81,355

81,365

Profit for the year

-

25,440

25,440

At 31 March 2023

10

106,795

106,805

 

Jb 2 Let 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:
8 Belvior Dosthill
Tamworth
Staffs
B77 1JJ

These financial statements were authorised for issue by the director on 19 November 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.

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;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current 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.

Tangible assets

Tangible assets are stated in the balance sheet 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.

 

Jb 2 Let Limited

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

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

Motor Vehicles

20% Reducing Balance

Computer Equipment

25% Reducing Balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. 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.

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 profit and loss account 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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 1).

 

Jb 2 Let Limited

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

4

Tangible assets

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

993

2,000

2,993

At 31 March 2024

993

2,000

2,993

Depreciation

At 1 April 2023

740

1,345

2,085

Charge for the year

63

131

194

At 31 March 2024

803

1,476

2,279

Carrying amount

At 31 March 2024

190

524

714

At 31 March 2023

253

655

908

5

Investment properties

2024
£

At 1 April

1,672,210

At 31 March

1,672,210

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

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

10

10

10

10

       
 

Jb 2 Let Limited

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

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

1,105,479

1,105,479

Current loans and borrowings

2024
£

2023
£

Bank borrowings

34,722

40,278

8

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £10.00 (2023 - £Nil) per each Ordinary shares

1,000

-