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Registered number: 10775661
Jalet Property Services Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 10775661
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 20,185 25,065
Investment Properties 5 7,720,469 7,720,469
Investments 6 1 -
7,740,655 7,745,534
CURRENT ASSETS
Debtors 7 4,504,837 3,702,196
Cash at bank and in hand 896,392 1,772,884
5,401,229 5,475,080
Creditors: Amounts Falling Due Within One Year 8 (3,874,582 ) (3,839,350 )
NET CURRENT ASSETS (LIABILITIES) 1,526,647 1,635,730
TOTAL ASSETS LESS CURRENT LIABILITIES 9,267,302 9,381,264
Creditors: Amounts Falling Due After More Than One Year 9 (13,087 ) (426,200 )
NET ASSETS 9,254,215 8,955,064
CAPITAL AND RESERVES
Called up share capital 10 2 2
Share premium account 6,699,999 6,699,999
Profit and Loss Account 2,554,214 2,255,063
SHAREHOLDERS' FUNDS 9,254,215 8,955,064
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms Claire Slade
Director
17/12/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Jalet Property Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10775661 . The registered office is Priestfield Farm Henfield Road, Albourne, Hassocks, BN6 9DE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration rent received or receivable.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold Not depreciated
Motor Vehicles 20% straight line
Fixtures & Fittings 20% straight line
Computer Equipment 20% straight line
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Consolidation accounts
The directors have not prepared consolidated accounts as in their opinion it would not be useful for anyone reading the accounts. There is full disclosure of the trading results and the capital values in the notes.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 1
1 1
Page 3
Page 4
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 June 2023 30,000 9,010 - 39,010
Additions - - 4,631 4,631
As at 31 May 2024 30,000 9,010 4,631 43,641
Depreciation
As at 1 June 2023 6,000 7,945 - 13,945
Provided during the period 6,000 2,585 926 9,511
As at 31 May 2024 12,000 10,530 926 23,456
Net Book Value
As at 31 May 2024 18,000 (1,520 ) 3,705 20,185
As at 1 June 2023 24,000 1,065 - 25,065
5. Investment Property
2024
£
Fair Value
As at 1 June 2023 and 31 May 2024 7,720,469
Additions -
As at 31 May 2024 7,720,469
6. Investments
Subsidiaries
£
Cost
As at 1 June 2023 -
Additions 1
As at 31 May 2024 1
Provision
As at 1 June 2023 -
As at 31 May 2024 -
Net Book Value
As at 31 May 2024 1
As at 1 June 2023 -
Page 4
Page 5
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 59,685 56,537
Station Parade reserve fund 28,927 28,927
White Ridge Estates 2,480,045 2,466,615
Loan account 77,276 81,276
Hungersfield Ltd 359,469 -
Jalet Property savings - 1,035,000
Jalet Estates Ltd 2,050 -
Simply Horsing Around Ltd 1,463,544 -
Deposit protection scheme 33,841 33,841
4,504,837 3,702,196
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 8,208 615
Other loans - 2,000
Corporation tax 70,938 78,493
Other taxes and social security 5,484 -
Clients a/cs provision 59,601 59,601
Tenants Rent Deposits 39,453 79,478
Hungers Field - 3,255
Brokers account 1 1
Bare Trust - 99
C Slade 78 78
Towershill Ltd 47,706 -
Accruals and deferred income 5,105 27,521
Director's loan account 3,638,007 3,588,209
Simply Horsing Around 1 -
3,874,582 3,839,350
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Shareholders loan account 13,087 325,000
Directors loan account - 101,200
13,087 426,200
Page 5
Page 6
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
11. Ultimate Controlling Party
The company's ultimate controlling party is Claire-Louise Slade by virtue of her ownership of 100% of the issued share capital in the company.
Simply Horsing Around Limited
The company holds 100% of the ordinary shares and voting rights.
The capital and reserves of the company are negative £174,281
The trading loss for the first trading period was £174,281
Page 6