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REGISTERED NUMBER: 10499308 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

JSR DEVELOPMENTS (CORNWALL) LIMITED

JSR DEVELOPMENTS (CORNWALL) LIMITED (REGISTERED NUMBER: 10499308)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JSR DEVELOPMENTS (CORNWALL) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: J Rogers
J Spry





REGISTERED OFFICE: Unit C Intrepid Works
Tregoniggie Industrial Estate
Falmouth
Cornwall
TR11 4SN





REGISTERED NUMBER: 10499308 (England and Wales)





ACCOUNTANT: Catherine Bennett Ltd
Chartered Accountant
Wheal Harmony House
Solomon Road
Redruth
Cornwall
TR15 1FD

JSR DEVELOPMENTS (CORNWALL) LIMITED (REGISTERED NUMBER: 10499308)

BALANCE SHEET
30 APRIL 2024

30/4/24 30/4/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 50,530 64,001
Investment property 5 225,000 195,000
275,530 259,001

CURRENT ASSETS
Stocks 70,886 568,502
Debtors 6 9,475 1,093
Cash at bank and in hand 27,672 13,609
108,033 583,204
CREDITORS
Amounts falling due within one year 7 124,781 664,544
NET CURRENT LIABILITIES (16,748 ) (81,340 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

258,782

177,661

CREDITORS
Amounts falling due after more than one
year

8

(102,873

)

(117,333

)

PROVISIONS FOR LIABILITIES (25,318 ) (2,382 )
NET ASSETS 130,591 57,946

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 10 130,491 57,846
130,591 57,946

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

JSR DEVELOPMENTS (CORNWALL) LIMITED (REGISTERED NUMBER: 10499308)

BALANCE SHEET - continued
30 APRIL 2024


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 20 January 2025 and were signed on its behalf by:





J Rogers - Director


JSR DEVELOPMENTS (CORNWALL) LIMITED (REGISTERED NUMBER: 10499308)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

JSR Developments (Cornwall) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance and 5% on reducing balance
Motor vehicles - 15% on reducing balance
Computer equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

JSR DEVELOPMENTS (CORNWALL) LIMITED (REGISTERED NUMBER: 10499308)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 May 2023 63,364 27,199 808 91,371
Additions 2,476 10,040 284 12,800
Disposals (5,500 ) (22,239 ) - (27,739 )
At 30 April 2024 60,340 15,000 1,092 76,432
DEPRECIATION
At 1 May 2023 19,014 7,548 808 27,370
Charge for year 3,445 1,625 94 5,164
Eliminated on disposal (3,247 ) (3,385 ) - (6,632 )
At 30 April 2024 19,212 5,788 902 25,902
NET BOOK VALUE
At 30 April 2024 41,128 9,212 190 50,530
At 30 April 2023 44,350 19,651 - 64,001

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 195,000
Revaluations 30,000
At 30 April 2024 225,000
NET BOOK VALUE
At 30 April 2024 225,000
At 30 April 2023 195,000

JSR DEVELOPMENTS (CORNWALL) LIMITED (REGISTERED NUMBER: 10499308)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. INVESTMENT PROPERTY - continued

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2021 20,741
Valuation in 2024 30,000
Cost 174,259
225,000

If property had not been revalued it would have been included at the following historical cost:

30/4/24 30/4/23
£    £   
Cost 174,259 174,259

Investment property was valued on a fair value basis on 30 April 2024 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/4/24 30/4/23
£    £   
Trade debtors 5,564 208
Other debtors 3,911 500
Prepayments - 385
9,475 1,093

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/4/24 30/4/23
£    £   
Bank loans and overdrafts 4,200 264,740
Other loans 5,100 5,040
Hire purchase contracts 5,040 8,308
Trade creditors 14,402 26,749
Tax 15,468 15,935
Social security and other taxes 1,597 1,617
VAT 4,954 598
Other creditors 507 16,623
Directors' current accounts 71,868 323,811
Accrued expenses 1,645 1,123
124,781 664,544

JSR DEVELOPMENTS (CORNWALL) LIMITED (REGISTERED NUMBER: 10499308)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/4/24 30/4/23
£    £   
Bank loans - 1-2 years 4,200 4,740
Bank loans - 2-5 years 12,600 14,220
Bank loans more 5 yr by instal 55,849 57,365
Other loans - 1-2 years 5,100 5,040
Other loans - 2-5 years 20,924 26,160
Hire purchase contracts 4,200 9,808
102,873 117,333

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 55,849 57,365

9. SECURED DEBTS

The following secured debts are included within creditors:

30/4/24 30/4/23
£    £   
Bank loans 76,849 341,065

The bank loan is a mortgage secured over the property Unit C, Intrepid Industrial Estate, Falmouth.

10. RESERVES
Retained
earnings
£   

At 1 May 2023 57,846
Profit for the year 92,645
Dividends (20,000 )
At 30 April 2024 130,491

The reserves are defined as:

30/4/2430/4/23
££
Distributable92,43541,046
Non-distributable38,05616,800
Total130,49157,846

JSR DEVELOPMENTS (CORNWALL) LIMITED (REGISTERED NUMBER: 10499308)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

11. RELATED PARTY DISCLOSURES

The directors J Rogers and J Spry are the directors of JSR Developments (Cornwall) Ltd. During the year JSR Showrooms Ltd made supplies to JSR Developments (Cornwall) Ltd totalling £77,968 (2023: £66,932). The transactions were at arm's length and undertaken in the course of the trade. At the balance sheet date, JSR Showrooms Ltd were owed £4,049 by JSR Developments (Cornwall) Ltd (2023: £NIL).

There is an inter company loan between the two companies. At the balance sheet date JSR Developments (Cornwall) Ltd were owed £3,911 by JSR Showrooms Ltd. (2023: JSR Developments Ltd owed £16,115 to JSR Showrooms Ltd).