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REGISTERED NUMBER: 13600018 (England and Wales)















Financial Statements for the Year Ended 30 June 2024

for

JSPL (SP160) Ltd

JSPL (SP160) Ltd (Registered number: 13600018)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


JSPL (SP160) Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTORS: N S Rumsey
Mrs J E Rumsey





SECRETARY: Mrs D A Measures





REGISTERED OFFICE: The EpiCentre
Enterprise Way
Withersfield
Haverhill
CB9 7LR





REGISTERED NUMBER: 13600018 (England and Wales)





AUDITORS: Xeinadin Audit Limited
The Old Grange
Warren Estate
Lordship Road
Writtle
Essex
CM1 3WT

JSPL (SP160) Ltd (Registered number: 13600018)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 23,000,000 23,000,000

CURRENT ASSETS
Debtors 5 1,086,881 1,068,664
Cash at bank 386,467 4,213,263
1,473,348 5,281,927
CREDITORS
Amounts falling due within one year 6 362,066 550,344
NET CURRENT ASSETS 1,111,282 4,731,583
TOTAL ASSETS LESS CURRENT
LIABILITIES

24,111,282

27,731,583

CREDITORS
Amounts falling due after more than one year 7 (13,361,197 ) (18,025,307 )

PROVISIONS FOR LIABILITIES (2,469,000 ) (2,395,000 )
NET ASSETS 8,281,085 7,311,276

CAPITAL AND RESERVES
Called up share capital 100 100
Other reserves 840,183 -
Fair value reserve 7,405,931 7,186,869
Retained earnings 34,871 124,307
8,281,085 7,311,276

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 26 March 2025 and were signed on its behalf by:





N S Rumsey - Director


JSPL (SP160) Ltd (Registered number: 13600018)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

JSPL (SP160) Ltd 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.

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.

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

Revenue
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, rebates, value added tax and other sales tax.

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

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities, including debtors, creditors and bank balances. Basic short term financial assets are measured at the transaction price, less any impairment and basic short term financial liabilities are measured at the transaction price.

Other financial assets are also measured at the transaction price, less any impairment, since the difference between this basis and the amortised cost basis is not material.

Other financial liabilities, including loans, are measured initially at:-

1. Fair value, net of transaction costs and subsequently on the same basis where a market rate of interest is charged.

2. Fair value, net of transaction costs and subsequently at amortised cost using the effective interest rate method where a market rate of interest has not been charged.


JSPL (SP160) Ltd (Registered number: 13600018)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 23,000,000
Additions 147,949
Disposals (441,011 )
Revaluations 293,062
At 30 June 2024 23,000,000
NET BOOK VALUE
At 30 June 2024 23,000,000
At 30 June 2023 23,000,000

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2023 9,581,870
Valuation in 2024 293,062
Cost 13,125,068
23,000,000

JSPL (SP160) Ltd (Registered number: 13600018)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. INVESTMENT PROPERTY - continued

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

2024 2023
£    £   
Cost 13,125,068 13,418,130

The investment property was valued on an open market basis on 1 October 2024 by Savills (UK) Limited .

5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors - 180,882
Amounts owed by related parties 127,347 127,347
Other debtors 202,831 18,000
330,178 326,229

Amounts falling due after more than one year:
Other debtors 756,703 742,435

Aggregate amounts 1,086,881 1,068,664

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 62,521 393,108
Other creditors 299,545 157,236
362,066 550,344

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 10,350,000 -
Amounts owed to group undertakings 3,011,197 7,179,712
Other creditors - 10,845,595
13,361,197 18,025,307

JSPL (SP160) Ltd (Registered number: 13600018)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Other loans - 10,845,595
Bank loans 10,350,000 -
10,350,000 10,845,595

A debenture dated 15th August 2023 is held over all assets of the company by Handelsbanken PLC.

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

The Report of the Auditors was unqualified.

Andrea Kaley (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited

10. ULTIMATE CONTROLLING PARTY

The company's immediate parent is Jaynic Suffolk Park Logistics Limited, whose ultimate parent is Jaynic Developments Limited, companies registered in England and Wales. The registered office of all companies The Epicentre, Enterprise Way, Withersfield, Haverhill, CB9 7LR.

The company's ultimate controlling party is Mr and Mrs N Rumsey.