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REGISTERED NUMBER: 10312200 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

JIC PROPERTY LIMITED

JIC PROPERTY LIMITED (REGISTERED NUMBER: 10312200)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JIC PROPERTY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTOR: J M Crook





REGISTERED OFFICE: Archer House
Britland Estate
Northbourne Road
Eastbourne
BN22 8PW





REGISTERED NUMBER: 10312200 (England and Wales)





ACCOUNTANTS: Dominic Hill Associates Limited
Archer House
Britland Estate
Northbourne Road
Eastbourne
BN22 8PW

JIC PROPERTY LIMITED (REGISTERED NUMBER: 10312200)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 26,691 31,601
Investment property 5 1,641,893 1,604,892
1,668,584 1,636,493

CURRENT ASSETS
Cash at bank 3,072 13,350

CREDITORS
Amounts falling due within one year 6 126,972 144,654
NET CURRENT LIABILITIES (123,900 ) (131,304 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,544,684

1,505,189

CREDITORS
Amounts falling due after more than one
year

7

(1,040,870

)

(1,043,870

)

PROVISIONS FOR LIABILITIES (119,102 ) (87,912 )
NET ASSETS 384,712 373,407

CAPITAL AND RESERVES
Called up share capital 1 1
Fair value reserve 8 499,819 462,819
Retained earnings (115,108 ) (89,413 )
SHAREHOLDERS' FUNDS 384,712 373,407

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

JIC PROPERTY LIMITED (REGISTERED NUMBER: 10312200)

BALANCE SHEET - continued
31 AUGUST 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 director and authorised for issue on 10 April 2025 and were signed by:





J M Crook - Director


JIC PROPERTY LIMITED (REGISTERED NUMBER: 10312200)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

JIC Property 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.

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.

Rental income
Rental income is rental payments received from tenants for use of the property.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023 42,929
Additions 3,985
At 31 August 2024 46,914
DEPRECIATION
At 1 September 2023 11,328
Charge for year 8,895
At 31 August 2024 20,223
NET BOOK VALUE
At 31 August 2024 26,691
At 31 August 2023 31,601

JIC PROPERTY LIMITED (REGISTERED NUMBER: 10312200)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023 1,604,892
Revaluations 37,001
At 31 August 2024 1,641,893
NET BOOK VALUE
At 31 August 2024 1,641,893
At 31 August 2023 1,604,892

Fair value at 31 August 2024 is represented by:
£   
Valuation in 2018 92,965
Valuation in 2019 83,075
Valuation in 2020 10,754
Valuation in 2021 77,632
Valuation in 2023 198,393
Valuation in 2024 37,001
Cost 1,142,073
1,641,893

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 3,705 3,705
Taxation and social security 303 303
Other creditors 122,964 140,646
126,972 144,654

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 815,892 815,235
Hire purchase contracts 20,431 24,136
Other creditors 204,547 204,499
1,040,870 1,043,870

JIC PROPERTY LIMITED (REGISTERED NUMBER: 10312200)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

8. RESERVES
Fair
value
reserve
£   
At 1 September 2023 462,819
Non-distributable reserve 37,000

At 31 August 2024 499,819

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date the company owed £81,673 (2023: £102,935) to J M Crook, the company director.

No interest has been charged on this loan.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J M Crook.