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REGISTERED NUMBER: 01045219 (England and Wales)















Financial Statements for the Year Ended 31 March 2024

for

Jamestown Property Company Limited

Jamestown Property Company Limited (Registered number: 01045219)






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


Jamestown Property Company Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr M F Haines
Mr W F Haines



SECRETARY: Mrs J M DeLotz



REGISTERED OFFICE: 63 Gloucester Avenue
Primrose Hill
LONDON
NW1 7BA



REGISTERED NUMBER: 01045219 (England and Wales)



ACCOUNTANTS: Passer Chevern & Co
Chartered Accountants
5 Spring Villa Road
Edgware
Middlesex
HA8 7EB



BANKERS: Lloyds TSB
195 Edgware Road
Marylebone
LONDON
W2 1EY

Jamestown Property Company Limited (Registered number: 01045219)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 232,766 253,169
Investment property 5 8,000,000 7,527,500
8,232,766 7,780,669

CURRENT ASSETS
Debtors 6 573,158 591,062
Cash at bank and in hand 768,143 715,657
1,341,301 1,306,719
CREDITORS
Amounts falling due within one year 7 811,075 872,596
NET CURRENT ASSETS 530,226 434,123
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,762,992

8,214,792

PROVISIONS FOR LIABILITIES 1,450,565 1,012,654
NET ASSETS 7,312,427 7,202,138

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 8 7,312,424 7,202,135
SHAREHOLDERS' FUNDS 7,312,427 7,202,138

Jamestown Property Company Limited (Registered number: 01045219)

Balance Sheet - continued
31 March 2024


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 directors acknowledge their 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.

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 Board of Directors and authorised for issue on 20 March 2025 and were signed on its behalf by:





Mr M F Haines - Director


Jamestown Property Company Limited (Registered number: 01045219)

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

1. STATUTORY INFORMATION

Jamestown Property Company 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.

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
Turnover represents furnished lettings rents received.


Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property (Leased) - 10% on cost
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 11 ) .

Jamestown Property Company Limited (Registered number: 01045219)

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

4. TANGIBLE FIXED ASSETS
Improvements
to Fixtures
property and Motor Computer
(Leased) fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 1,722,540 27,766 52,021 7,476 1,809,803
Additions 9,300 - - - 9,300
At 31 March 2024 1,731,840 27,766 52,021 7,476 1,819,103
DEPRECIATION
At 1 April 2023 1,482,175 26,580 42,412 5,467 1,556,634
Charge for year 27,159 119 2,403 22 29,703
At 31 March 2024 1,509,334 26,699 44,815 5,489 1,586,337
NET BOOK VALUE
At 31 March 2024 222,506 1,067 7,206 1,987 232,766
At 31 March 2023 240,365 1,186 9,609 2,009 253,169

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 7,527,500
Revaluations 472,500
At 31 March 2024 8,000,000
NET BOOK VALUE
At 31 March 2024 8,000,000
At 31 March 2023 7,527,500

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2017 6,000,000
Valuation in 2019 1,527,500
Valuation in 2024 472,500
8,000,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 662,461 662,461

Investment property was valued on an open market basis on 31 March 2024 by the directors .

Jamestown Property Company Limited (Registered number: 01045219)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 28,355 1,835
Other debtors - 10,000
Inter company loan accounts 525,191 563,818
Prepayments 19,612 15,409
573,158 591,062

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 4,208
Rent deposit and advance
from tenants 326,947 309,763
Corporation tax payable 96,723 45,363
Social security and other
taxes 5,015 7,120
Other creditors 140,391 249,366
Directors' current accounts 216,455 217,682
Accrued expenses 25,544 39,094
811,075 872,596

8. RESERVES
Retained
earnings
£   

At 1 April 2023 7,202,135
Profit for the year 285,289
Dividends (175,000 )
At 31 March 2024 7,312,424