JALS PROPERTIES LIMITED

Company Registration Number:
10228709 (England and Wales)

Unaudited abridged accounts for the year ended 30 June 2024

Period of accounts

Start date: 01 July 2023

End date: 30 June 2024

JALS PROPERTIES LIMITED

Contents of the Financial Statements

for the Period Ended 30 June 2024

Balance sheet
Notes

JALS PROPERTIES LIMITED

Balance sheet

As at 30 June 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 3,954 3,655
Investments: 4 1,421,507 1,306,507
Total fixed assets: 1,425,461 1,310,162
Current assets
Debtors: 5 88 3,954
Cash at bank and in hand: 2,166 6,035
Total current assets: 2,254 9,989
Creditors: amounts falling due within one year: 6 (58,377) (57,441)
Net current assets (liabilities): (56,123) (47,452)
Total assets less current liabilities: 1,369,338 1,262,710
Creditors: amounts falling due after more than one year: 7 (1,022,150) (1,012,207)
Provision for liabilities: (110,306) (61,983)
Total net assets (liabilities): 236,882 188,520
Capital and reserves
Called up share capital: 12 12
Profit and loss account: 236,870 188,508
Shareholders funds: 236,882 188,520

The notes form part of these financial statements

JALS PROPERTIES LIMITED

Balance sheet statements

For the year ending 30 June 2024 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 19 March 2025
and signed on behalf of the board by:

Name: Mr J A Davies
Status: Director

The notes form part of these financial statements

JALS PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Tangible fixed assets and depreciation policy

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Fixtures and fittings - 10% Straight line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss. Investment properties Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss. Impairment of fixed assets At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Other accounting policies

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. Taxation The tax expense represents the sum of the tax currently payable and deferred tax. Current tax The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date. Deferred tax Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit. The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority. Judgements and key sources of estimation uncertainty In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

JALS PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

2. Employees

2024 2023
Average number of employees during the period 0 0

JALS PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

3. Tangible Assets

Total
Cost £
At 01 July 2023 6,608
Additions 1,068
At 30 June 2024 7,676
Depreciation
At 01 July 2023 2,953
Charge for year 769
At 30 June 2024 3,722
Net book value
At 30 June 2024 3,954
At 30 June 2023 3,655

JALS PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

4. Fixed investments

Investment property Fair value At 1 July 2023 -£1,306,507 Revaluations - £115,000 At 30 June 2024 - £1,421,507 The investment property comprises of three properties. The fair value of the properties have been valued based on reference to market values of similar properties in the area at the balance sheet date. At the balance sheet date there is fixed and floating charge on one of the investment properties by Shawbrook Bank Limited and a fixed charge on another property by Onesavings Bank PLC.

JALS PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

5. Debtors

2024 2023
££
Debtors due after more than one year: 0 0

Amounts falling due within one year: 2024 Trade debtors - £- Other debtors - £88 Total - £88 2023 Trade debtors - £3866 Other debtors - £88 Total - £3,954

JALS PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

6. Creditors: amounts falling due within one year note

2024 Other creditors - £58,377 2023 Other creditors - £57,441

JALS PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

7. Creditors: amounts falling due after more than one year note

2024 Bank loans and overdrafts - £559,413 Other creditors - £462,737 Total - £1,022,150 2023 Bank loans and overdrafts - £559,280 Other creditors - £452,927 Total - £1,012,207