Registered number
12839945
Junction 10 Properties Limited
Filleted Financial Statements
31 August 2024
Junction 10 Properties Limited
Registered number: 12839945
Statement of Financial Position
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,651,129 1,448,283
Current assets
Cash at bank and in hand 79,899 367,916
Creditors: amounts falling due within one year 4 - (1,490)
Net current assets 79,899 366,426
Total assets less current liabilities 1,731,028 1,814,709
Creditors: amounts falling due after more than one year 5 - (600,000)
Net assets 1,731,028 1,214,709
Capital and reserves
Called up share capital 2,000,000 1,400,000
Profit and loss account (268,972) (185,291)
Shareholders' funds 1,731,028 1,214,709
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 directors' report and profit and loss account have not been delivered to the Registrar of Companies.
P Bareham
Director
Approved by the board on 24 September 2024
Junction 10 Properties Limited
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 recognised to the extent that it is probable that economic benefits will flow to the compnay and the revenue can be reliably measured. Tutnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. No turnover is reported for the period.
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 at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings & furniture over 5 years
Investment Property
The investment property is initially carried at cost. Subsequent measurement will be at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
The company reported a loss for the period, this has been carried forward to offset against future profits. Deferred tax is not recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 September 2023 1,378,079 151,470 1,529,549
Additions 175,062 72,600 247,662
At 31 August 2024 1,553,141 224,070 1,777,211
Depreciation
At 1 September 2023 - 81,266 81,266
Charge for the year - 44,816 44,816
At 31 August 2024 - 126,082 126,082
Net book value
At 31 August 2024 1,553,141 97,988 1,651,129
At 31 August 2023 1,378,079 70,204 1,448,283
4 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors - 1,490
5 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors - 600,000
6 Related Party
Junction 10 Properties Limited is a 100% subsidiary of Junction 10 Properties Holdings Limited.
7 Other information
Junction 10 Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
Central House
Hampton Hill
Middlesex
TW12 1NS
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