Registered number
12792276
JEMS Estates Limited
Filleted Accounts
31 August 2024
JEMS Estates Limited
Registered number: 12792276
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 339,783 339,783
Current assets
Debtors 4 629 2,259
Cash at bank and in hand 6,257 11,779
6,886 14,038
Creditors: amounts falling due within one year 5 (4,159) (3,998)
Net current assets 2,727 10,040
Total assets less current liabilities 342,510 349,823
Creditors: amounts falling due after more than one year 6 (324,879) (334,879)
Net assets 17,631 14,944
Capital and reserves
Called up share capital 100 100
Profit and loss account 17,531 14,844
Shareholders' funds 17,631 14,944
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 profit and loss account has not been delivered to the Registrar of Companies.
Mr M C Banks
Director
Approved by the board on 18 October 2024
JEMS Estates 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).
Tangible fixed assets
Tangible fixed assets are recorded in the accounts at costs plus or minus any revaluation that has occurred during the period. Depreciation is not provided on investment assets.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 September 2023 339,783
At 31 August 2024 339,783
Depreciation
At 31 August 2024 -
Net book value
At 31 August 2024 339,783
At 31 August 2023 339,783
4 Debtors 2024 2023
£ £
Other debtors - prepayments 629 2,259
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 630 2,694
Other creditors 3,529 1,304
4,159 3,998
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 324,879 334,879
7 Controlling party
The company is controlled by its directors who between them own 81% of the issued share capital.
8 Other information
JEMS Estates Limited is a private company limited by shares and incorporated in England. Its registered office is:
Scots House
Scots Lane
Salisbury
Wiltshire
SP1 3TR
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