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Company No: 15017773 (England and Wales)

JLP ESTATES SOUTH WEST LIMITED

Unaudited Financial Statements
For the financial period from 21 July 2023 to 30 June 2024
Pages for filing with the registrar

JLP ESTATES SOUTH WEST LIMITED

Unaudited Financial Statements

For the financial period from 21 July 2023 to 30 June 2024

Contents

JLP ESTATES SOUTH WEST LIMITED

BALANCE SHEET

As at 30 June 2024
JLP ESTATES SOUTH WEST LIMITED

BALANCE SHEET (continued)

As at 30 June 2024
Note 30.06.2024
£
Fixed assets
Tangible assets 3 14,500
Investment property 4 1,749,481
1,763,981
Current assets
Debtors 5 5,744
Cash at bank and in hand 38,498
44,242
Creditors: amounts falling due within one year 6 ( 22,934)
Net current assets 21,308
Total assets less current liabilities 1,785,289
Creditors: amounts falling due after more than one year 7 ( 1,780,406)
Provision for liabilities ( 469)
Net assets 4,414
Capital and reserves
Called-up share capital 8 1
Profit and loss account 4,413
Total shareholder's funds 4,414

For the financial period ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of JLP Estates South West Limited (registered number: 15017773) were approved and authorised for issue by the Director on 13 February 2025. They were signed on its behalf by:

Mr J Poulter
Director
JLP ESTATES SOUTH WEST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 21 July 2023 to 30 June 2024
JLP ESTATES SOUTH WEST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 21 July 2023 to 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

JLP Estates South West Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, United Kingdom. The principal place of business is Moorland View, Wotter, Plymouth, Devon, PL7 5HP.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Reporting period length

This period is the first since incorporation and as such the reporting period exceeds twelve months.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

Period from
21.07.2023 to
30.06.2024
Number
Monthly average number of persons employed by the Company during the period, including the director 0

3. Tangible assets

Plant and machinery Total
£ £
Cost
At 21 July 2023 0 0
Additions 14,500 14,500
At 30 June 2024 14,500 14,500
Accumulated depreciation
At 21 July 2023 0 0
At 30 June 2024 0 0
Net book value
At 30 June 2024 14,500 14,500

4. Investment property

Investment property
£
Valuation
As at 21 July 2023 0
Additions 1,749,481
As at 30 June 2024 1,749,481

5. Debtors

30.06.2024
£
Trade debtors 3,021
Other debtors 2,723
5,744

6. Creditors: amounts falling due within one year

30.06.2024
£
Trade creditors 13,721
Other taxation and social security ( 257)
Other creditors 9,470
22,934

7. Creditors: amounts falling due after more than one year

30.06.2024
£
Other creditors 1,780,406

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

30.06.2024
£
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1

During the year, upon incorporation, 1 share was issued at par.