Registered number
10983422
JPN Management Ltd
Filleted Accounts
31 August 2024
JPN Management Ltd
Registered number: 10983422
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,491,025 1,425,493
Current assets
Debtors 4 35,129 31,443
Cash at bank and in hand 793,272 772,136
828,401 803,579
Creditors: amounts falling due within one year 5 (170,489) (187,829)
Net current assets 657,912 615,750
Total assets less current liabilities 2,148,937 2,041,243
Provisions for liabilities (Notes 6) (29,634) (13,384)
Net assets 2,119,303 2,027,859
Capital and reserves
Called up share capital 100 100
Fair value reserve 6 105,808 57,058
Profit and loss account 2,013,395 1,970,701
Shareholders' funds 2,119,303 2,027,859
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Jamie Nisbett
Director
Approved by the board on 15 January 2025
JPN Management Ltd
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% reducing balance
Investment property
Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 September 2023 1,425,000 1,015 1,426,015
Additions - 874 874
Fair value revaluation 65,000 - 65,000
At 31 August 2024 1,490,000 1,889 1,491,889
Depreciation
At 1 September 2023 - 522 522
Charge for the year - 342 342
At 31 August 2024 - 864 864
Net book value
At 31 August 2024 1,490,000 1,025 1,491,025
At 31 August 2023 1,425,000 493 1,425,493
4 Debtors 2024 2023
£ £
Other debtors 35,129 31,443
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors - 281
Taxation and social security costs 74,847 113,748
Directors loan account 91,702 71,770
Other creditors 3,940 2,030
170,489 187,829
6 Fair value reserve 2024 2023
The provision for liability of £29,634 relates to deferred corporation tax in relation to the fair value revaluation of investment property.
£ £
At 1 September 2023 57,058 57,058
Gain on revaluation of land and buildings 65,000 -
Deferred taxation arising on the revaluation of land and buildings (16,250) -
At 31 August 2024 105,808 57,058
7 Other information
JPN Management Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Bank Chambers
1-3 Woodford Avenue
Gants Hill, Ilford
Essex
IG2 6UF
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