0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 531,949 531,949 531,949 xbrli:pure xbrli:shares iso4217:GBP 14164592 2023-07-01 2024-06-30 14164592 2024-06-30 14164592 2023-06-30 14164592 2022-06-10 2023-06-30 14164592 2023-06-30 14164592 2022-06-09 14164592 bus:Director1 2023-07-01 2024-06-30 14164592 core:WithinOneYear 2024-06-30 14164592 core:WithinOneYear 2023-06-30 14164592 core:ShareCapital 2024-06-30 14164592 core:ShareCapital 2023-06-30 14164592 core:RetainedEarningsAccumulatedLosses 2024-06-30 14164592 core:RetainedEarningsAccumulatedLosses 2023-06-30 14164592 core:LandBuildings core:OwnedOrFreeholdAssets 2024-06-30 14164592 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-30 14164592 bus:SmallEntities 2023-07-01 2024-06-30 14164592 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 14164592 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 14164592 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 14164592 bus:FullAccounts 2023-07-01 2024-06-30
COMPANY REGISTRATION NUMBER: 14164592
J&S Properties (Midlands) Ltd
Filleted Unaudited Financial Statements
30 June 2024
J&S Properties (Midlands) Ltd
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
4
531,949
531,949
Current assets
Debtors
5
2,528
156
Cash at bank and in hand
18,426
8,916
--------
-------
20,954
9,072
Creditors: amounts falling due within one year
6
534,163
536,212
---------
---------
Net current liabilities
513,209
527,140
---------
---------
Total assets less current liabilities
18,740
4,809
--------
-------
Net assets
18,740
4,809
--------
-------
Capital and reserves
Called up share capital
1
1
Profit and loss account
18,739
4,808
--------
-------
Shareholder funds
18,740
4,809
--------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
J&S Properties (Midlands) Ltd
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 28 February 2025 , and are signed on behalf of the board by:
Mr C Smith
Director
Company registration number: 14164592
J&S Properties (Midlands) Ltd
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is 1 Picton Lane, Swansea, SA1 4AF, Wales.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for rental income.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship (see hedge accounting policy). For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
4. Tangible assets
Freehold property
£
Cost
At 1 July 2023 and 30 June 2024
531,949
---------
Depreciation
At 1 July 2023 and 30 June 2024
---------
Carrying amount
At 30 June 2024
531,949
---------
At 30 June 2023
531,949
---------
Following research carried out by the directors, including assessing local housing markets and rental yields, at the balance sheet date they believe there has been no change in fair value of of the freehold investment property during the year.
5. Debtors
2024
2023
£
£
Other debtors
2,528
156
-------
----
6. Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
532,740
532,739
Corporation tax
1,128
Other creditors
1,423
2,345
---------
---------
534,163
536,212
---------
---------