Company Registration No. 10435570 (England and Wales)
JOINT PROPERTY LTD
Unaudited accounts
for the year ended 31 October 2024
JOINT PROPERTY LTD
Unaudited accounts
Contents
JOINT PROPERTY LTD
Company Information
for the year ended 31 October 2024
Directors
Mark Russell Gale
V Spierings
Company Number
10435570 (England and Wales)
Registered Office
112 Broadway
Peterborough
PE1 4DG
England
Accountants
RAE Business Services (Yorkshire) Limited
First Floor
85 Great Portland Street
London
W1W 7LT
JOINT PROPERTY LTD
Accountants' report
Accountants' report to the board of directors of JOINT PROPERTY LTD on the preparation of the unaudited statutory accounts for the year ended 31 October 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
JOINT PROPERTY LTD for the year ended
31 October 2024 as set out on pages
5 -
7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of JOINT PROPERTY LTD, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of JOINT PROPERTY LTD and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than JOINT PROPERTY LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that JOINT PROPERTY LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of JOINT PROPERTY LTD. You consider that JOINT 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 accounts of JOINT 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 accounts.
RAE Business Services (Yorkshire) Limited
First Floor
85 Great Portland Street
London
W1W 7LT
3 March 2025
JOINT PROPERTY LTD
Statement of financial position
as at 31 October 2024
Investment property
190,000
190,000
Cash at bank and in hand
4,323
2,852
Creditors: amounts falling due within one year
(129,443)
(129,326)
Net current liabilities
(96,523)
(94,461)
Total assets less current liabilities
93,477
95,539
Creditors: amounts falling due after more than one year
(143,888)
(143,888)
Net liabilities
(50,411)
(48,349)
Called up share capital
20
20
Revaluation reserve
10,411
10,411
Profit and loss account
(60,842)
(58,780)
Shareholders' funds
(50,411)
(48,349)
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 5 March 2025 and were signed on its behalf by
V Spierings
Director
Company Registration No. 10435570
JOINT PROPERTY LTD
Notes to the Accounts
for the year ended 31 October 2024
JOINT PROPERTY LTD is a private company, limited by shares, registered in England and Wales, registration number 10435570. The registered office is 112 Broadway, Peterborough, PE1 4DG, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Fair value at 1 November 2023
190,000
At 31 October 2024
190,000
Amounts falling due within one year
Other debtors
28,597
28,597
Amounts falling due after more than one year
Accrued income and prepayments
-
36
6
Investments held as current assets
2024
2023
Unlisted investments
-
2,000
JOINT PROPERTY LTD
Notes to the Accounts
for the year ended 31 October 2024
7
Creditors: amounts falling due within one year
2024
2023
Loans from directors
128,443
128,442
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
143,888
143,888
Aggregate of amounts that fall due for payment after five years
143,888
143,888
Included in long term creditors are bank loans secured on investment properties. Personal guarantees have been provided.
9
Transactions with related parties
Included in debtors is a loan of £28,597 (2023 - £28,597) to Westbank Properties Limited, a related company. The loan is interest-free and repayable on demand.
10
Average number of employees
During the year the average number of employees was 0 (2023: 0).