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REGISTERED NUMBER: 04192017 (England and Wales)















Financial Statements for the Year Ended 31 May 2024

for

Jetcrown Traders Limited

Jetcrown Traders Limited (Registered number: 04192017)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Jetcrown Traders Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: Nilesh Jethwa
Nirmala Bhagwanji Aghera





SECRETARY: Nilesh Jethwa





REGISTERED OFFICE: 364-368 Cranbrook Road
Ilford
Essex
IG2 6HY





REGISTERED NUMBER: 04192017 (England and Wales)





ACCOUNTANTS: Prestons
Chartered Accountants
364-368 Cranbrook Road
Gants Hill
Ilford
Essex
IG2 6HY

Jetcrown Traders Limited (Registered number: 04192017)

Balance Sheet
31 May 2024

31/5/24 31/5/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 1,875,000 1,875,000
1,875,000 1,875,000

CURRENT ASSETS
Debtors 6 25,513 1,675
Cash at bank 91,433 130,804
116,946 132,479
CREDITORS
Amounts falling due within one year 7 176,796 161,930
NET CURRENT LIABILITIES (59,850 ) (29,451 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,815,150

1,845,549

CREDITORS
Amounts falling due after more than one
year

8

(47,219

)

(126,242

)

PROVISIONS FOR LIABILITIES (170,388 ) (170,388 )
NET ASSETS 1,597,543 1,548,919

Jetcrown Traders Limited (Registered number: 04192017)

Balance Sheet - continued
31 May 2024

31/5/24 31/5/23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,597,443 1,548,819
SHAREHOLDERS' FUNDS 1,597,543 1,548,919

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 January 2025 and were signed on its behalf by:




Nilesh Jethwa - Director



Nirmala Bhagwanji Aghera - Director


Jetcrown Traders Limited (Registered number: 04192017)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Jetcrown Traders Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured as the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover is rent receivable during the year from the renting of properties.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged to allocate the costs of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:
Plant and machinery - 20% on cost

The asset's residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit and loss.

Investment property
Investment properties are properties that are held for financial gain, either through rental income or capital appreciation. Investments properties are revalued annually and are stated at fair value.

Any gains/losses on revaluation are transferred to the profit and loss account.

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 balance sheet date.

Jetcrown Traders Limited (Registered number: 04192017)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less and impairment.

Going concern
The total current liabilities exceed the total current assets of the company as at 31 May 2024. The directors have confirmed that the company will have continuous support from the creditors. The directors are confident that the company has sufficient resources to trade as a going concern. It is for these reasons the accounts have been prepared as a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

Jetcrown Traders Limited (Registered number: 04192017)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023
and 31 May 2024 4,420
DEPRECIATION
At 1 June 2023
and 31 May 2024 4,420
NET BOOK VALUE
At 31 May 2024 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023
and 31 May 2024 1,875,000
NET BOOK VALUE
At 31 May 2024 1,875,000
At 31 May 2023 1,875,000

6. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31/5/24 31/5/23
£    £   
Other debtors 25,513 1,675

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/5/23
£    £   
Taxation and social security 16,208 13,657
Other creditors 160,588 148,273
176,796 161,930

Jetcrown Traders Limited (Registered number: 04192017)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31/5/24 31/5/23
£    £   
Bank loans 47,219 126,242