IRIS Accounts Production v25.1.0.734 11715190 Board of Directors 1.1.23 31.12.23 31.12.23 19.5.25 false true false false true false Auditors Opinion Fair value model Ordinary shares 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh117151902022-12-31117151902023-12-31117151902023-01-012023-12-31117151902021-12-31117151902022-01-012022-12-31117151902022-12-3111715190ns15:EnglandWales2023-01-012023-12-3111715190ns14:PoundSterling2023-01-012023-12-3111715190ns10:Director12023-01-012023-12-3111715190ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3111715190ns10:SmallEntities2023-01-012023-12-3111715190ns10:Audited2023-01-012023-12-3111715190ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3111715190ns10:FullAccounts2023-01-012023-12-3111715190ns10:OrdinaryShareClass12023-01-012023-12-3111715190ns10:Director22023-01-012023-12-3111715190ns10:CompanySecretary12023-01-012023-12-3111715190ns10:RegisteredOffice2023-01-012023-12-3111715190ns5:CurrentFinancialInstruments2023-12-3111715190ns5:CurrentFinancialInstruments2022-12-3111715190ns5:Non-currentFinancialInstruments2023-12-3111715190ns5:Non-currentFinancialInstruments2022-12-3111715190ns5:ShareCapital2023-12-3111715190ns5:ShareCapital2022-12-3111715190ns5:RetainedEarningsAccumulatedLosses2023-12-3111715190ns5:RetainedEarningsAccumulatedLosses2022-12-3111715190ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3111715190ns5:WithinOneYearns5:CurrentFinancialInstruments2022-12-3111715190ns10:OrdinaryShareClass12023-12-31
REGISTERED NUMBER: 11715190 (England and Wales)



Audited Financial Statements for the Year Ended 31 December 2023

for

Jv Tower Limited

Jv Tower Limited (Registered number: 11715190)

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 7


Jv Tower Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr G Nasr
Mr J M Weinzweig





SECRETARY: Mr M R Shooter





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





REGISTERED NUMBER: 11715190 (England and Wales)





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

Jv Tower Limited (Registered number: 11715190)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Investment property 4 45,737,255 -

CURRENT ASSETS
Stocks - 25,325,553
Debtors 5 11,900,316 3,591,717
Cash at bank 362,201 1,387,582
12,262,517 30,304,852
CREDITORS
Amounts falling due within one year 6 (26,129,919 ) (4,218,203 )
NET CURRENT (LIABILITIES)/ASSETS (13,867,402 ) 26,086,649
TOTAL ASSETS LESS CURRENT
LIABILITIES

31,869,853

26,086,649

CREDITORS
Amounts falling due after more than one year 7 (31,419,869 ) (25,542,941 )
NET ASSETS 449,984 543,708

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Retained earnings 448,984 542,708
SHAREHOLDERS' FUNDS 449,984 543,708

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:





Mr J M Weinzweig - Director


Jv Tower Limited (Registered number: 11715190)

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


1. STATUTORY INFORMATION

Jv Tower 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, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:-
Turnover from the sale of properties is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

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.

Reclassification of Property from Stock to Investment Property
During the financial year, the company reclassified a property previously held as stock to investment property following a change in the intended use of the asset. The property is now held for the purpose of earning rental income and capital appreciation, rather than for sale in the ordinary course of business.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slowmoving items.

Properties under construction and complected prosperities are held for sale and is valued at the lower of historiccost and net reliable value. Costs include, where appropriate, a proportion of overheads and capitalised interest.

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.

Jv Tower Limited (Registered number: 11715190)

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


2. ACCOUNTING POLICIES - continued

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 any impairment.

Provisions
Provisions are recognised when the company has a present obligation at the balance sheet date arising from a past event, it is probable that an outflow of economic benefits will be required to settle the obligation, and the amount can be reliably estimated.

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.

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 statement of financial position date.


Jv Tower Limited (Registered number: 11715190)

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


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.
The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 45,737,255
At 31 December 2023 45,737,255
NET BOOK VALUE
At 31 December 2023 45,737,255

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 85,071 2,466,585
Amounts owed by group undertakings 11,626,949 1,096,498
Other debtors 188,296 28,634
11,900,316 3,591,717

Jv Tower Limited (Registered number: 11715190)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 268,220 3,982
Amounts owed to group undertakings 21,248,247 8,764
Taxation and social security - 642,973
Other creditors 4,613,452 3,562,484
26,129,919 4,218,203

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 31,419,869 25,542,941

8. CALLED UP SHARE CAPITAL

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

9. 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

10. RELATED PARTY DISCLOSURES

Included within 'Amounts Owed by Group Undertakings' is an amount of £1,096,498.25 due from JV Tower Two Ltd, a company under common control.

Included within 'Amounts Owed by Group Undertakings' is an amount of £10,530,451.39 due from Selsdon Way Developments Ltd, a company under common control.

Included within 'Amounts Owed by Group Undertakings' is an amount of £21,248,246.90 due to Gold Wynn UK, a company under common control.

11. ULTIMATE CONTROLLING PARTY

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

Jv Tower Limited (Registered number: 11715190)

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


12. 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 undertakings.