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REGISTERED NUMBER: 00603334 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Judy Properties Limited

Judy Properties Limited (Registered number: 00603334)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Judy Properties Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: W C Man





REGISTERED OFFICE: The Old Grange
Warren Estate
Lordship Road
Writtle
Essex
CM1 3WT





REGISTERED NUMBER: 00603334 (England and Wales)





ACCOUNTANTS: Xeinadin South East Limited
The Old Grange
Warren Estate
Lordship Road
Writtle
Essex
CM1 3WT

Judy Properties Limited (Registered number: 00603334)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,380 8,682
Investments 5 251 251
Investment property 6 7,795,000 7,795,000
7,802,631 7,803,933

CURRENT ASSETS
Debtors 7 338,898 192,741
Cash at bank 130,202 525,794
469,100 718,535
CREDITORS
Amounts falling due within one year 8 332,275 115,748
NET CURRENT ASSETS 136,825 602,787
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,939,456

8,406,720

CREDITORS
Amounts falling due after more than one
year

9

(765,000

)

(765,000

)

PROVISIONS FOR LIABILITIES (1,223,100 ) (1,223,100 )
NET ASSETS 5,951,356 6,418,620

CAPITAL AND RESERVES
Called up share capital 44,590 44,590
Share premium 24,866 24,866
Capital redemption reserve 116,436 116,436
Fair value reserve 5,696,583 5,696,583
Retained earnings 68,881 536,145
SHAREHOLDERS' FUNDS 5,951,356 6,418,620

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Judy Properties Limited (Registered number: 00603334)

Balance Sheet - continued
31 March 2024


The 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.

The financial statements were approved by the director and authorised for issue on 20 March 2025 and were signed by:





W C Man - Director


Judy Properties Limited (Registered number: 00603334)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Judy Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The company is part of a group.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured at the fair value of the consideration received or receivable, excluding discounts and rebates.

Turnover represents rents receivable from freehold properties owned by the company. Rents receivable are recognised on an accruals basis.

Tangible fixed assets
Tangible fixed assets are initially measured at cost. After initial recognition, tangible fixed assets are measured at cost less any accumulated depreciation and any accumulated impairment losses.

Depreciation is provided at the following annual rates, in order to write off each asset over its estimated useful life:

- Plant and machinery etc - 15% on reducing balance

Investments in subsidiaries
The investments are shown at cost, less provision for impairment. The difference between this and fair value is not materially different.

Investment properties
The investment properties are included at fair value. Gains are recognised in the income statement and subsequently transferred to the fair value reserve. Deferred taxation is provided on these gains at the rate expected to apply when the properties are sold.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Judy Properties Limited (Registered number: 00603334)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price.

Significant judgements and estimates
No significant judgements or estimations have been applied in the preparation of the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 15,341
DEPRECIATION
At 1 April 2023 6,659
Charge for year 1,302
At 31 March 2024 7,961
NET BOOK VALUE
At 31 March 2024 7,380
At 31 March 2023 8,682

Judy Properties Limited (Registered number: 00603334)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 1,203,435
PROVISIONS
At 1 April 2023
and 31 March 2024 1,203,184
NET BOOK VALUE
At 31 March 2024 251
At 31 March 2023 251

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 7,795,000
NET BOOK VALUE
At 31 March 2024 7,795,000
At 31 March 2023 7,795,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2010 2,955,252
Valuation in 2015 1,264,431
Valuation in 2020 2,700,000
Cost 875,317
7,795,000

If the investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 875,317 875,317

The investment properties were valued on an open market basis basis on 6 April 2019 by Strettons Limited .

The director considers that the valuation at the balance sheet date is not materially different to the valuation at 6 April 2019.

Judy Properties Limited (Registered number: 00603334)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Rental debtors 257,466 106,680
Amounts owed by related parties 226 226
Other debtors 81,206 85,835
338,898 192,741

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to related parties 101 101
Taxation 71,963 23,837
Other creditors 260,211 91,810
332,275 115,748

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 765,000 765,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 765,000 765,000

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 765,000 765,000

The above loan is secured by a legal charge over the investment property, 52 James Street, London.

11. ULTIMATE PARENT COMPANY

The company is owned by G B Properties Ltd, whose registered office address is Unit A 26/F Fortis Bank Tower, 77-79 Gloucester Road, Wan Chai, Hong Kong.