Registered number
10847436
JLP IP Ltd
Unaudited Filleted Accounts
31 July 2024
JLP IP Ltd
Registered number: 10847436
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Current assets
Debtors 3 25,306 25,306
Investments held as current assets 4 385,820 293,387
Cash at bank and in hand 1,120 789
412,246 319,482
Creditors: amounts falling due within one year 5 (478,361) (478,045)
Net current liabilities (66,115) (158,563)
Total assets less current liabilities (66,115) (158,563)
Creditors: amounts falling due after more than one year 6 (3,396) (4,875)
Net liabilities (69,511) (163,438)
Capital and reserves
Called up share capital 200 200
Profit and loss account (69,711) (163,638)
Shareholder's funds (69,511) (163,438)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr L Wolfson
Director
Approved by the board on 29 April 2025
JLP IP Ltd
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Investments
Listed investments included under current assets are stated at cost, less provision for any impairment in value below cost. The carrying value is reviewed at each balance sheet date, and a provision is made for any permanent diminution in value. Any such provision is recognised as an expense in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Debtors 2024 2023
£ £
Other debtors 25,306 25,306
4 Investments held as current assets 2024 2023
£ £
Fair value
Listed investments 383,432 283,907
Unlisted investments 2,388 9,480
385,820 293,387
5 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 478,361 478,045
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 3,396 4,875
7 Other information
JLP IP Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Building 6
30 Friern Park
London
N12 9DA
8 Going concern
The company's financial statements are prepared on a going concern basis on the grounds that current and future sources of funding or support from the director will be continued to be received.
9 Related parties
Other creditors falling due within one year relates to a loan to the company by the Director, Mr L. Wolfson.
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