Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-302024-09-302025-05-19true2023-10-01false33falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11330998 2023-10-01 2024-09-30 11330998 2022-10-01 2023-09-30 11330998 2024-09-30 11330998 2023-09-30 11330998 c:Director1 2023-10-01 2024-09-30 11330998 d:FreeholdInvestmentProperty 2023-10-01 2024-09-30 11330998 d:FreeholdInvestmentProperty 2024-09-30 11330998 d:FreeholdInvestmentProperty 2023-09-30 11330998 d:FreeholdInvestmentProperty 2 2023-10-01 2024-09-30 11330998 d:CurrentFinancialInstruments 2024-09-30 11330998 d:CurrentFinancialInstruments 2023-09-30 11330998 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 11330998 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 11330998 d:ShareCapital 2024-09-30 11330998 d:ShareCapital 2023-09-30 11330998 d:SharePremium 2023-10-01 2024-09-30 11330998 d:SharePremium 2024-09-30 11330998 d:SharePremium 2023-09-30 11330998 d:RevaluationReserve 2023-10-01 2024-09-30 11330998 d:RevaluationReserve 2024-09-30 11330998 d:RevaluationReserve 2023-09-30 11330998 d:RetainedEarningsAccumulatedLosses 2023-10-01 2024-09-30 11330998 d:RetainedEarningsAccumulatedLosses 2024-09-30 11330998 d:RetainedEarningsAccumulatedLosses 2023-09-30 11330998 c:FRS102 2023-10-01 2024-09-30 11330998 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 11330998 c:FullAccounts 2023-10-01 2024-09-30 11330998 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 11330998 d:OtherDeferredTax 2024-09-30 11330998 d:OtherDeferredTax 2023-09-30 iso4217:GBP xbrli:pure

Registered number: 11330998









JA PROPERTY LETS LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
JA PROPERTY LETS LTD
REGISTERED NUMBER: 11330998

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
6,545,712
6,532,892

  
6,545,712
6,532,892

Current assets
  

Stocks
 5 
580,000
580,000

Debtors: amounts falling due within one year
 6 
3,808
16,639

Cash at bank and in hand
 7 
43,521
47,113

  
627,329
643,752

Creditors: amounts falling due within one year
 8 
(3,868,495)
(3,793,366)

Net current liabilities
  
 
 
(3,241,166)
 
 
(3,149,614)

Total assets less current liabilities
  
3,304,546
3,383,278

Provisions for liabilities
  

Deferred tax
  
(75,086)
-

  
 
 
(75,086)
 
 
-

Net assets
  
3,229,460
3,383,278

Page 1

 
JA PROPERTY LETS LTD
REGISTERED NUMBER: 11330998
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Capital and reserves
  

Called up share capital 
  
1,100
1,100

Share premium account
  
3,644,204
3,644,204

Revaluation reserve
  
225,259
-

Profit and loss account
  
(641,103)
(262,026)

  
3,229,460
3,383,278


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 May 2025.




................................................
A R J Wright
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
JA PROPERTY LETS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

JA Property Lets Ltd is a private company, limited by shares and incorporated in England and Wales, United Kingdom, with a registration number 11330998. The address of the registered office is 7 Meadow Business Park, Piperell Way, Haverhill, Suffolk, United Kingdom, CB9 8QX. The company's principal activity is property investments.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
The Company's functional and presentational currency is GBP and the financial statements are rounded to the nearest Pound.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors review the business position and react accordingly, taking necessary steps where appropriate. The directors believe that the business has sufficient prospect of trade and cash reserves to continue to trade for a period of no less than twelve months from the approval of these accounts. 

 
2.3

Turnover

Turnover relates to rental income, which is recognised in the period to which it relates. 

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
JA PROPERTY LETS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

Investment property

Investment property is carried at fair value determined annually by the directors 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.

Page 4

 
JA PROPERTY LETS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
JA PROPERTY LETS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.14

Financial instruments

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 6

 
JA PROPERTY LETS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


Investment property


Freehold investment property

£



Valuation


At 1 October 2023
6,532,892


Additions at cost
27,573


Deficit on revaluation
(14,753)



At 30 September 2024
6,545,712

The 2024 valuations were made by the directors, on an open market value for existing use basis.







5.


Stocks

2024
2023
£
£

Finished goods and goods for resale
580,000
580,000



6.


Debtors

2024
2023
£
£


Trade debtors
3,808
16,639



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
43,521
47,113


Page 7

 
JA PROPERTY LETS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
1,000,000
2,500,000

Other creditors
2,866,605
1,276,490

Accruals and deferred income
1,890
16,876

3,868,495
3,793,366


The following liabilities were secured:

2024
2023
£
£



Bank loans
1,000,000
2,500,000

Details of security provided:

The loans entered into by the company are secured against the investment properties held by the company.


9.


Creditors: Amounts falling due after more than one year




The loans entered into by the company are secured against the investment properties held by the company.


10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
1,000,000
2,500,000




1,000,000
2,500,000


Page 8

 
JA PROPERTY LETS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

11.


Deferred taxation




2024


£






Charged to profit or loss
(75,086)



At end of year
(75,086)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Fair value uplifts
(75,086)
-

(75,086)
-


12.


Reserves

Share premium account

Includes any premiums received on issue of share capital. Any transaction costs associated with the issuing of shares are deducted from share premium.

Revaluation reserve

Includes any revaluations on the fixed assets included within the accounts.

Profit and loss account

Includes all current and prior period retained profits and losses less any dividends paid.


13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £Nil (2023 - £72,160) .

Page 9

 
JA PROPERTY LETS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

14.


Related party transactions

At the year-end the following amounts were due from/(to):


2024
2023
£
£

Key management personnel
(1,219,367)
(1,166,711)
Other related parties
(1,641,463)
(104,463)
(2,860,830)
(1,271,174)


15.


Controlling party

The company is controlled by the Wright family.

 
Page 10