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REGISTERED NUMBER: 04563417 (England and Wales)















Financial Statements for the Year Ended 31 May 2024

for

JUKES PROPERTIES LIMITED

JUKES PROPERTIES LIMITED (REGISTERED NUMBER: 04563417)






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




Page

Balance Sheet 1

Notes to the Financial Statements 2


JUKES PROPERTIES LIMITED (REGISTERED NUMBER: 04563417)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,291,521 1,494,359
Investment property 5 560,000 651,104
6,851,521 2,145,463

CURRENT ASSETS
Debtors 6 160,655 155,047
Cash at bank 52,882 22,479
213,537 177,526
CREDITORS
Amounts falling due within one year 7 1,885,592 810,097
NET CURRENT LIABILITIES (1,672,055 ) (632,571 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,179,466

1,512,892

CREDITORS
Amounts falling due after more than one
year

8

(2,240,565

)

(882,725

)

PROVISIONS FOR LIABILITIES (524,423 ) (1,452 )
NET ASSETS 2,414,478 628,715

CAPITAL AND RESERVES
Called up share capital 279 279
Fair value reserve 10 2,184,948 (58,900 )
Retained earnings 229,251 687,336
SHAREHOLDERS' FUNDS 2,414,478 628,715

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 12 December 2024 and were signed on its behalf by:





Mr S A Jukes - Director


JUKES PROPERTIES LIMITED (REGISTERED NUMBER: 04563417)

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

1. STATUTORY INFORMATION

Jukes Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04563417

Registered office: 26a Tamworth Street
Lichfield
Staffordshire
WS13 6JJ

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
The preparation of the financial statements in conformity with generally accepted accounting principles requires the Directors to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results in the future could differ from those estimates. Management considers that certain accounting assumptions relating to taxation and provisions are its critical accounting policies.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Fixtures and fittings - 25% on cost

Investment property
The Investment property is held to earn rentals, capital appreciation or both. The Investment property is initially measured at cost, including transaction costs. Subsequently the investment property whose fair value can be measured reliably without undue cost or effect on an on-going basis is measured at fair value. Gains and losses arising from changes in the fair value are included in profit or loss in the period in which they arise. Any unrealised profits or losses are subsequently transferred to the fair value reserve.

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.


JUKES PROPERTIES LIMITED (REGISTERED NUMBER: 04563417)

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.

Going concern
The company emerged in a strong position post Covid-19, with the effects on the company being limited due to the nature of the market in which it's tenant's operate.
All properties are occupied and producing rental income.
The Balance Sheet does show net liabilities but the bulk of this relates to group debt and this will not be repayable until the company is in a position to do so.
The company will continue to be supported by Jukes Group Limited.
The company has continued to prepare the accounts on a going concern basis and deem this appropriate. The directors do not consider that a material uncertainty about the going concern status currently exists. In making this assessment they have considered the likely trading conditions for a period of twelve months from the date of the approval of these accounts.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST OR VALUATION
At 1 June 2023 1,488,551 6,800 1,495,351
Additions 2,692,608 - 2,692,608
Disposals (451,248 ) - (451,248 )
Revaluations 2,557,502 - 2,557,502
At 31 May 2024 6,287,413 6,800 6,294,213
DEPRECIATION
At 1 June 2023 - 992 992
Charge for year - 1,700 1,700
At 31 May 2024 - 2,692 2,692
NET BOOK VALUE
At 31 May 2024 6,287,413 4,108 6,291,521
At 31 May 2023 1,488,551 5,808 1,494,359

JUKES PROPERTIES LIMITED (REGISTERED NUMBER: 04563417)

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

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 May 2024 is represented by:

Fixtures
Freehold and
property fittings Totals
£    £    £   
Valuation in 2024 2,557,502 - 2,557,502
Cost 3,729,911 6,800 3,736,711
6,287,413 6,800 6,294,213

The freehold property was valued at market value by Sanderson Weatherall, Chartered Surveyors, on 5th April 2024 and S Jukes, the director, considers this value to be the appropriate value at 31 May 2024.
If the freehold property had not been revalued, it would have been included at £3,729,911 cost.

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 651,104
Additions 222,549
Revaluations (313,653 )
At 31 May 2024 560,000
NET BOOK VALUE
At 31 May 2024 560,000
At 31 May 2023 651,104

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2022 (58,900 )
Valuation in 2024 (313,653 )
Cost 932,553
560,000

The investment property was valued at market value by Sanderson Weatherall, Chartered Surveyors, on 5th April 2024 and S Jukes, the director, considers this value to be the appropriate value at 31 May 2024.
If the investment property had not been revalued, it would have been included at £932,553 cost.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 3,000 -
Amounts owed by group undertakings 2,400 -
Other debtors 155,255 155,047
160,655 155,047

JUKES PROPERTIES LIMITED (REGISTERED NUMBER: 04563417)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 274,801 120,000
Trade creditors 12,961 930
Amounts owed to group undertakings 1,574,455 676,679
Taxation and social security 19,677 8,361
Other creditors 3,698 4,127
1,885,592 810,097

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans 2,240,565 882,725

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 252,500

9. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Bank loans 2,515,366 1,002,725

The bank loans are secured by way of charges over real estate lying to the North of Elwell Street, West Bromwich; 26 Tamworth Street, Lichfield; real estate on the North side of Grovehill Road, Beverley; land lying to the south of The Lindens, Upton-Upon-Severn; unit 15 Barn Close, Plymouth and an unlimited debenture dated 5 December 2014.

10. RESERVES
Fair
value
reserve
£   
At 1 June 2023 (58,900 )
Revaluation 2,243,848

At 31 May 2024 2,184,948

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Adele Lawton (Senior Statutory Auditor)
for and on behalf of Lawton Bradford Accountants Ltd

JUKES PROPERTIES LIMITED (REGISTERED NUMBER: 04563417)

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

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2024 and 31 May 2023:

31.5.24 31.5.23
£    £   
Mr S A Jukes and Mrs K A Jukes
Balance outstanding at start of year 105,612 105,612
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 105,612 105,612

Interest is charged at 3% on this loan.

13. RELATED PARTY DISCLOSURES

The investment property is rented to a company owned and controlled by an individual connected with the directors, at below market value. Market value is estimated to be in the region of £32,000 per annum and the company has agreed a rental of £15,000.

14. ULTIMATE CONTROLLING PARTY

The ultimate parent company is Jukes Group Limited, incorporated in England & Wales, which is the parent of the smallest and largest group preparing consolidated financial statements that include the company. The registered office is 26a Tamworth Street, Lichfield, Staffordshire. WS13 6JJ.