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REGISTERED NUMBER: 02779265 (England and Wales)















Financial Statements for the Year Ended 30 June 2024

for

Jaynic Properties Limited

Jaynic Properties Limited (Registered number: 02779265)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Jaynic Properties Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: Mrs J E Rumsey
N S Rumsey





SECRETARY: Mrs D A Measures





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





REGISTERED NUMBER: 02779265 (England and Wales)





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

Jaynic Properties Limited (Registered number: 02779265)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,116 9,830
Investments 5 70 70
Investment property 6 6,200,000 8,823,290
6,204,186 8,833,190

CURRENT ASSETS
Stocks 4,238,258 3,773,908
Debtors 7 655,037 1,156,860
Cash at bank 4,434,375 324,065
9,327,670 5,254,833
CREDITORS
Amounts falling due within one year 8 3,264,438 288,338
NET CURRENT ASSETS 6,063,232 4,966,495
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,267,418

13,799,685

CREDITORS
Amounts falling due after more than one year 9 - (3,060,819 )

PROVISIONS FOR LIABILITIES (306,000 ) (680,885 )
NET ASSETS 11,961,418 10,057,981

CAPITAL AND RESERVES
Called up share capital 6 6
Fair value reserve - 2,096,190
Retained earnings 11,961,412 7,961,785
SHAREHOLDERS' FUNDS 11,961,418 10,057,981

Jaynic Properties Limited (Registered number: 02779265)

Balance Sheet - continued
30 June 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 Board of Directors and authorised for issue on 26 March 2025 and were signed on its behalf by:





N S Rumsey - Director


Jaynic Properties Limited (Registered number: 02779265)

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

1. STATUTORY INFORMATION

Jaynic 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.

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.

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 - 33% straight line

Investment property
Investment properties are 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 any gains at the rate expected to apply when the properties are sold.

Work in progress
Work in progress comprises land and infrastructure costs incurred on the company's development projects.

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 liabilities, including loans, are measured initially and subsequently at fair value, net of transaction costs.


Jaynic Properties Limited (Registered number: 02779265)

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.

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.

Investments in subsidiaries
Investments in subsidiaries are valued at cost, less impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

Jaynic Properties Limited (Registered number: 02779265)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 23,071
Additions 330
Disposals (6,882 )
At 30 June 2024 16,519
DEPRECIATION
At 1 July 2023 13,241
Charge for year 4,160
Eliminated on disposal (4,998 )
At 30 June 2024 12,403
NET BOOK VALUE
At 30 June 2024 4,116
At 30 June 2023 9,830

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 July 2023
and 30 June 2024 70
NET BOOK VALUE
At 30 June 2024 70
At 30 June 2023 70

Fixed asset investments comprise 70% of the issued share capital of Jaynic (East Anglia) Ltd, a company incorporated in England and wales.

Jaynic Properties Limited (Registered number: 02779265)

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

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 8,823,290
Additions 13,710
Revaluations (2,637,000 )
At 30 June 2024 6,200,000
NET BOOK VALUE
At 30 June 2024 6,200,000
At 30 June 2023 8,823,290

Fair value at 30 June 2024 is represented by:
£

Valuation in 2017 288,287
Valuation in 2021 2,614,424
Valuation in 2022 (125,636 )
Valuation in 2024 (2,637,000 )
Cost 6,059,925
6,200,000

If the investment properties had not been revalued they would have been included at the following historical cost:
2024 2023
£ £

Cost 6,059,925 6,046,213

The investment properties were professionally valued on an open market basis as follows:

Valued by: Date of valuation:

Savills (UK) Limited 16 October 2024
Berrys 4 October 2024
Carter Jonas 31 October 2024


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings - 600,000
Amounts owed by related parties 547,876 397,068
Other debtors 107,161 159,792
655,037 1,156,860

Jaynic Properties Limited (Registered number: 02779265)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 11,711 12,763
Taxation and social security 99,993 208,020
Other creditors 3,152,734 67,555
3,264,438 288,338

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors - 3,060,819

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Other loan 3,069,120 3,060,819

The other loan is from West Suffolk Council and is secured by a fixed charge over land at the Haverhill Research Park, Haverhill, Suffolk.

The company's bank, Handelsbanken have a debenture over the company's assets dated 2 September 2016.

11. 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

12. RELATED PARTY DISCLOSURES

During the year, the company recharged certain overhead costs of £812,500 (2023: £812,500) to Jaynic (East Anglia) Limited (its subsidiary).

Dividends of £7,882,687 (2023: £nil) were received from the subsidiary during the year.

At the balance sheet date there was no balances outstanding between the company and its subsidiary.

Jaynic Properties Limited (Registered number: 02779265)

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

13. ULTIMATE CONTROLLING PARTY

The company's immediate and ultimate parent company is Jaynic Developments Limited, a company incorporated in England and Wales, whose registered office is The Epicentre, Enterprise Way, Withersfield, Haverhill, CB9 7LR.

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