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REGISTERED NUMBER: SC427032 (Scotland)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

JAMJAX PROPERTY LTD

JAMJAX PROPERTY LTD (REGISTERED NUMBER: SC427032)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

JAMJAX PROPERTY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: Craig Thomas Connelly





SECRETARY: Craig Thomas Connelly





REGISTERED OFFICE: 31 Lovat Avenue
Bearsden
Glasgow
G61 3LQ





REGISTERED NUMBER: SC427032 (Scotland)





ACCOUNTANTS: D M McNaught & Co Ltd
Chartered Accountants
166 Buchanan Street
Glasgow
Lanarkshire
G1 2LW

JAMJAX PROPERTY LTD (REGISTERED NUMBER: SC427032)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,614 2,152
Investment property 5 250,000 250,000
251,614 252,152

CURRENT ASSETS
Debtors 6 31,231 15,141
Cash at bank 1,680 15,673
32,911 30,814
CREDITORS
Amounts falling due within one year 7 13,972 25,099
NET CURRENT ASSETS 18,939 5,715
TOTAL ASSETS LESS CURRENT
LIABILITIES

270,553

257,867

CREDITORS
Amounts falling due after more than one
year

8

1,100

2,300
NET ASSETS 269,453 255,567

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 269,353 255,467
SHAREHOLDERS' FUNDS 269,453 255,567

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

JAMJAX PROPERTY LTD (REGISTERED NUMBER: SC427032)

BALANCE SHEET - continued
30 JUNE 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 director and authorised for issue on 26 February 2025 and were signed by:





Craig Thomas Connelly - Director


JAMJAX PROPERTY LTD (REGISTERED NUMBER: SC427032)

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


1. STATUTORY INFORMATION

Jamjax Property Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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 represents commercial rent receivable in respect of the period and is shown net of VAT.

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 etc - 25% on reducing balance

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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

JAMJAX PROPERTY LTD (REGISTERED NUMBER: SC427032)

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


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023
and 30 June 2024 7,952
DEPRECIATION
At 1 July 2023 5,800
Charge for year 538
At 30 June 2024 6,338
NET BOOK VALUE
At 30 June 2024 1,614
At 30 June 2023 2,152

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 250,000
NET BOOK VALUE
At 30 June 2024 250,000
At 30 June 2023 250,000

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2024 110,000
Cost 140,000
250,000

If the investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 140,000 140,000

The Investment properties were valued on a open market basis on 30 June 2024 by the director .

JAMJAX PROPERTY LTD (REGISTERED NUMBER: SC427032)

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


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 30,731 14,115
Other debtors 500 1,026
31,231 15,141

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 1,200 1,200
Taxation and social security 9,010 4,634
Other creditors 3,762 19,265
13,972 25,099

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 1,100 2,300

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Craig Thomas Connelly.

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
JAMJAX PROPERTY LTD


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Jamjax Property Ltd for the year ended 30 June 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the director of Jamjax Property Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Jamjax Property Ltd and state those matters that we have agreed to state to the director of Jamjax Property Ltd in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Jamjax Property Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Jamjax Property Ltd. You consider that Jamjax Property Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Jamjax Property Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






D M McNaught & Co Ltd
Chartered Accountants
166 Buchanan Street
Glasgow
Lanarkshire
G1 2LW


26 February 2025