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REGISTERED NUMBER: 11092428 (England and Wales)















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: Mr R S Goldman
Mr H S Goldman
Mr A P Goldman
Mrs D F Rosenthal





REGISTERED OFFICE: 100 Barbirolli Square,
Manchester
M2 3BD





REGISTERED NUMBER: 11092428 (England and Wales)





AUDITORS: Xeinadin Audit Limited
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 5,061,195 3,833,408

CURRENT ASSETS
Debtors 5 74,472 46,751

CREDITORS
Amounts falling due within one year 6 (2,431,717 ) (2,221,733 )
NET CURRENT LIABILITIES (2,357,245 ) (2,174,982 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,703,950

1,658,426

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings 2,703,949 1,658,425
SHAREHOLDERS' FUNDS 2,703,950 1,658,426

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31st January 2025 and were signed on its behalf by:





Mr R S Goldman - Director


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
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.

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 4 (2023 - 4 ) .

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 3,833,408
Additions 1,227,787
At 31st August 2024 5,061,195
NET BOOK VALUE
At 31st August 2024 5,061,195
At 31st August 2023 3,833,408

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 24,400 -
Other debtors 1 1
Prepayments and accrued income 50,071 46,750
74,472 46,751

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 2,333,918 2,147,986
Tax 94,337 63,776
VAT 121 7,021
Other creditors 300 -
Accrued expenses 3,041 2,950
2,431,717 2,221,733

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1.00 1 1

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Richard Lloyd (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited

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.