REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024 |
FOR |
JESEM PROPERTIES LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024 |
FOR |
JESEM PROPERTIES LIMITED |
JESEM PROPERTIES LIMITED (REGISTERED NUMBER: 11092428) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31st August 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
JESEM PROPERTIES LIMITED |
COMPANY INFORMATION |
for the Year Ended 31st August 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
100 Barbirolli Square |
Manchester |
M2 3BD |
JESEM PROPERTIES LIMITED (REGISTERED NUMBER: 11092428) |
BALANCE SHEET |
31st August 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
JESEM PROPERTIES LIMITED (REGISTERED NUMBER: 11092428) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31st August 2024 |
1. | STATUTORY INFORMATION |
Jesem Properties Limited is a private company limited by share capital, incorporated in England and Wales, registration number 11092428. The address of its registered office is 100 Barbirolli Square, Manchester, United Kingdom, M2 3BD and the principal place of business is 90 North Street, Manchester, M8 8RA. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Jesem Properties Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Jesem Group Holdings Limited, 100 Barbirolli Square, Manchester, United Kingdom, M2 3BD. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover is measured as the fair value of the consideration received or receivable, excluding value added tax. Turnover principally consists of income from the rental of commercial property. |
Investment property |
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measure at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. 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. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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. |
Trade and other debtors |
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts. |
Trade and other creditors |
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
JESEM PROPERTIES LIMITED (REGISTERED NUMBER: 11092428) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31st August 2024 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1st September 2023 |
Additions |
At 31st August 2024 |
NET BOOK VALUE |
At 31st August 2024 |
At 31st August 2023 |
Valuation of investment properties held was reviewed by the directors as at 31st August 2024. Having reviewed the rental yields, which have not changed greatly compared to prior years, the current valuation is deemed to be a true reflection of current market value. |
The value of the investment property if carried under the cost model would be £5,648,715 (2023 - £4,420,928). |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments and accrued income |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed to group undertakings |
Tax |
VAT | 121 | 7,021 |
Other creditors |
Accrued expenses |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1.00 | 1 | 1 |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
JESEM PROPERTIES LIMITED (REGISTERED NUMBER: 11092428) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31st August 2024 |
9. | ULTIMATE CONTROLLING PARTY |
The company's immediate parent entity is Jesem Holdings Limited. The Jesem Group Limited is the parent of the smallest and largest group for which consolidated financial statements are prepared, The parent company's registered office is 100 Barbirolli Square, Manchester, M2 3BD. The consolidated financial statements can be obtained from Companies House. |
The ultimate controlling party are the shareholders of the ultimate parent entity, The Jesem Group Limited. |