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Registered Number: 14934162
England and Wales

 

 

 

JEF COMMERCIAL LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 13 June 2023

End date: 30 June 2024
 
 
Notes
 
2024
£
Fixed assets    
Tangible fixed assets 3 2,417,191 
2,417,191 
Current assets    
Debtors 4 1,253 
Cash at bank and in hand 69,644 
70,897 
Creditors: amount falling due within one year 5 (2,462,603)
Net current assets (2,391,706)
 
Total assets less current liabilities 25,485 
Net assets 25,485 
 

Capital and reserves
   
Called up share capital 100 
Profit and loss account 25,385 
Shareholders' funds 25,485 
 


For the period ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 12 March 2025 and were signed by:


-------------------------------
Mr J E Fennell
Director
1
General Information
JEF COMMERCIAL LTD is a private company, limited by shares, registered in England and Wales, registration number 14934162, registration address 114-116 CURTAIN ROAD, LONDON ENGLAND, EC2A 3AH..
1.

Accounting policies

Significant accounting policies
These financial statements have been prepared in accordance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover represents amounts received for rent.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The companys liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Investment properties
Investment properties, which are properties held to earn rentals and/or for capital appreciation, is initially recognised initially at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting date. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Financial instruments
The company has elected to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments Issues of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2.

Average number of employees

Average number of employees during the period was 1.
3.

Tangible fixed assets

Cost or valuation Investment properties   Total
  £   £
At 13 June 2023  
Additions 2,417,191    2,417,191 
Disposals  
At 30 June 2024 2,417,191    2,417,191 
Depreciation
At 13 June 2023  
Charge for period  
On disposals  
At 30 June 2024  
Net book values
Closing balance as at 30 June 2024 2,417,191    2,417,191 
Opening balance as at 13 June 2023  


4.

Debtors: amounts falling due within one year

2024
£
Other Debtors 1,253 
1,253 

5.

Creditors: amount falling due within one year

2024
£
Amounts Owed to Group Undertakings 2,435,656 
Corporation Tax 5,954 
Other Creditors 20,993 
2,462,603 

2