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REGISTERED NUMBER: 13517502 (England and Wales)




FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

J T W PROPERTIES (MIDLANDS) LIMITED

J T W PROPERTIES (MIDLANDS) LIMITED (REGISTERED NUMBER: 13517502)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 6


J T W PROPERTIES (MIDLANDS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: T J Watton



REGISTERED OFFICE: Ground Floor Custom House
Waterfront East
Brierley Hill
West Midlands
DY5 1XH



REGISTERED NUMBER: 13517502 (England and Wales)



AUDITORS: Poole Waterfield Limited (Statutory Auditor)
Ground Floor
Custom House
Waterfront East
Brierley Hill
West Midlands
DY5 1XH



BANKERS: Barclays Bank PLC
47 High Street
Dudley
West Midlands
DY1 1PP

J T W PROPERTIES (MIDLANDS) LIMITED (REGISTERED NUMBER: 13517502)

BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £    £   
FIXED ASSETS
Investment property 4 2,157,629 2,087,680

CURRENT ASSETS
Debtors 5 27,566 28,349
Cash at bank 12,570 1,925
40,136 30,274
CREDITORS
Amounts falling due within one year 6 1,417,192 1,322,592
NET CURRENT LIABILITIES (1,377,056 ) (1,292,318 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

780,573

795,362

CREDITORS
Amounts falling due after more than one
year

7

843,992

859,730
NET LIABILITIES (63,419 ) (64,368 )

CAPITAL AND RESERVES
Called up share capital 9 101 100
Retained earnings (63,520 ) (64,468 )
SHAREHOLDERS' FUNDS (63,419 ) (64,368 )

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 28 April 2025 and were signed by:





T J Watton - Director


J T W PROPERTIES (MIDLANDS) LIMITED (REGISTERED NUMBER: 13517502)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

J T W Properties (Midlands) 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.

Turnover
Turnover represents rents receivable from properties owned by the company and excludes VAT where applicable.

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.

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 NIL (2023 - NIL).

J T W PROPERTIES (MIDLANDS) LIMITED (REGISTERED NUMBER: 13517502)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 2,087,680
Additions 69,949
At 30 April 2024 2,157,629
NET BOOK VALUE
At 30 April 2024 2,157,629
At 30 April 2023 2,087,680

The company's investment properties above are shown at cost which the director believes represents fair value at 30th April 2024.

The properties are subject to specific charges to secure the company's bank borrowing and those of group members.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 1,440 -
Other debtors 26,126 28,349
27,566 28,349

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 67,873 67,873
Trade creditors - 3,036
Other creditors 1,349,319 1,251,683
1,417,192 1,322,592

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans 843,992 859,730

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 572,500 588,238

J T W PROPERTIES (MIDLANDS) LIMITED (REGISTERED NUMBER: 13517502)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank loans 911,865 927,603

The company's bank borrowing is secured on the investment properties owned by the company.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
100 Ordinary £1 100 100
1 Ordinary A £1 1 -
101 100

During the year an Ordinary A £1 share was issued to the director. The share does not carry any voting rights.

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

The Report of the Auditors was unqualified.

Helen Gibbens (Senior Statutory Auditor)
for and on behalf of Poole Waterfield Limited (Statutory Auditor)

11. CONTINGENT LIABILITIES

The company is party to a cross guarantee arrangement with respect to a borrowing facility with JTW Metals Limited, a fellow subsidiary member. The facility is for £822,000 (2023 £822,000). No provision for this guarantee has been included in the financial statements as the director is of the opinion that the likelihood of crystallisation is remote.

J T W PROPERTIES (MIDLANDS) LIMITED (REGISTERED NUMBER: 13517502)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

30.4.24 30.4.23
£    £   
T J Watton
Balance outstanding at start of year - -
Amounts advanced 16,838 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 16,838 -

The above is interest free and repayable on demand.

13. RELATED PARTY DISCLOSURES

At 30th April 2024 the company owed £1,345,821 (2023 - £1,244,683) to J T W Metals Limited("Metals").

£75,000 rent has been charged to Metals.

Metals is related by common shareholding and directorship.

14. POST BALANCE SHEET EVENTS

Since the end of the financial year the company has authorised, the purchase of freehold properties for £1,300,000 subject to loan finance.The company has also purchased a number of properties from Mr T. J. Watton for a value of £565,000, which are not subject to finance.

15. ULTIMATE CONTROLLING PARTY

During the year the entire share capital was transferred to JTM Midlands Limited. Mr. T. J. Watton owns a controlling interest in the parent company, JTM Midlands Limited, and is therefore the ultimate controlling party as at 30th April 2024 (2023 - controlling party Mr. T. J. Watton)