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REGISTERED NUMBER: 13670932 (England and Wales)



Audited Financial Statements for the Year Ended 31 December 2023

for

JV Tower Two Limited

JV Tower Two Limited (Registered number: 13670932)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 6


JV Tower Two Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: G Nasr
J M Weinzweig





SECRETARY: M R Shooter





REGISTERED OFFICE: S223 - S224 Churchill House
120 Bunns Lane
London
NW7 2AS





REGISTERED NUMBER: 13670932 (England and Wales)





AUDITORS: BBK Partnership
Chartered Accountants
& Statutory Auditors
1 Beauchamp Court
10 Victors Way
Barnet
Hertfordshire
EN5 5TZ

JV Tower Two Limited (Registered number: 13670932)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Investment property 4 1,096,498 1,096,498

CURRENT ASSETS
Debtors 5 1,000 1,000

CREDITORS
Amounts falling due within one year 6 (1,106,998 ) (1,096,498 )
NET CURRENT LIABILITIES (1,105,998 ) (1,095,498 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(9,500

)

1,000

CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Retained earnings (10,500 ) -
SHAREHOLDERS' FUNDS (9,500 ) 1,000

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 19 May 2025 and were signed on its behalf by:





J M Weinzweig - Director


JV Tower Two Limited (Registered number: 13670932)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

JV Tower Two 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

Taxation
Taxation for the period 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 statement of financial position 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.

JV Tower Two Limited (Registered number: 13670932)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued

Investment property
Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Financial instruments
Cash and cash equivalents
Cash and cash equivalents comprises cash on hand and all deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to and insignificant risk of change in value.

Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary
course of business. Trade debtors are recognised initially at the transaction price. They are subsequently
measured at amortised cost using the effective interest method less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
business from suppliers. Accounts payables are classified as current liabilities of the company does not have an unconditional right at the end of the reporting period to refer settlements of the creditor for at least twelve
months after the reporting date. If there is an unconditional right to defer settlements for at least twelve months after the reporting date they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Provisions
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

JV Tower Two Limited (Registered number: 13670932)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 5 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 1,096,498
NET BOOK VALUE
At 31 December 2023 1,096,498
At 31 December 2022 1,096,498

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 1,000 1,000

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Amounts owed to group undertakings 1,096,498 1,096,498
Other creditors 10,500 -
1,106,998 1,096,498

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1,000 Ordinary 1 1,000 1,000

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

The Report of the Auditors was unqualified.

Alan Kaye FCA (Senior Statutory Auditor)
for and on behalf of BBK Partnership

9. RELATED PARTY DISCLOSURES

Included within 'Amounts Owed by Group Undertakings' is an amount of £1,096,498.00 due to J V Tower Ltd, a company under common control.

JV Tower Two Limited (Registered number: 13670932)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


10. CHARGES

During the year the company had granted charges in favour of Zorin Avenue Lendco 5 Limited over its fixed and floating assets covering all property and undertaking.

11. CONTROLLING PARTY

The immediate parent undertaking of the company is Selsdon Way development Ltd, whose registered
office is at S223 - S224 Churchill House 120 Bunns Lane, London, United Kingdom, NW7 2AS.

The ultimate controlling party is Jeffrey Weinzweig.