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Registration number: 01024417

Jacmar Developments Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2024

 

Jacmar Developments Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Jacmar Developments Limited

Company Information

Directors

Mr L F Black

Mr R P Black

Mr R T G Lloyd

Registered office

St Ethelbert House
Ryelands Street
Hereford
Herefordshire
HR4 0LA

Accountants

Young & Co
Chartered Accountants
St Ethelbert House
Ryelands Street
Hereford
Herefordshire
HR4 0LA

 

Jacmar Developments Limited

(Registration number: 01024417)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

19,890

26,792

Investment property

5

1,142,154

1,318,699

 

1,162,044

1,345,491

Current assets

 

Debtors

6

52,494

83,245

Cash at bank and in hand

 

26,171

49,188

 

78,665

132,433

Creditors: Amounts falling due within one year

7

(204,155)

(237,345)

Net current liabilities

 

(125,490)

(104,912)

Total assets less current liabilities

 

1,036,554

1,240,579

Creditors: Amounts falling due after more than one year

7

-

(25,030)

Provisions for liabilities

(4,973)

(6,698)

Net assets

 

1,031,581

1,208,851

Capital and reserves

 

Called up share capital

8

1,000

1,000

Share premium reserve

273,903

273,903

Retained earnings

756,678

933,948

Shareholders' funds

 

1,031,581

1,208,851

 

Jacmar Developments Limited

(Registration number: 01024417)
Balance Sheet as at 31 December 2024
(continued)

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 March 2025 and signed on its behalf by:
 

.........................................
Mr R T G Lloyd
Director

 

Jacmar Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
St Ethelbert House
Ryelands Street
Hereford
Herefordshire
HR4 0LA
England

The principal place of business is:
Unit 5
Perseverance Road
Hereford
HR4 9SN

These financial statements were authorised for issue by the Board on 28 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

 

Jacmar Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
(continued)

2

Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

 

Jacmar Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
(continued)

2

Accounting policies (continued)

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

10% of cost per annum

Fixtures and fittings

15% of cost per annum

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an 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.

 

Jacmar Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
(continued)

2

Accounting policies (continued)

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 payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

Jacmar Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
(continued)

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2024

69,235

69,235

At 31 December 2024

69,235

69,235

Depreciation

At 1 January 2024

42,443

42,443

Charge for the year

6,902

6,902

At 31 December 2024

49,345

49,345

Carrying amount

At 31 December 2024

19,890

19,890

At 31 December 2023

26,792

26,792

 

Jacmar Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
(continued)

5

Investment properties

2024
£

At 1 January

1,318,699

Fair value adjustments

(176,545)

At 31 December

1,142,154

The fair value of the investment property is based on market value in accordance with RICS "Red Book" guidance.

The investment property was valued by John Dillon FRICS of Sunderlands in August 2024.

The directors do not believe that the value had changed significantly at 31 December 2024.

6

Debtors

2024
£

2023
£

Trade debtors

52,494

82,036

Prepayments

-

1,209

52,494

83,245

 

Jacmar Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
(continued)

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

28,355

67,595

Trade creditors

 

-

3,813

Taxation and social security

 

35,130

38,899

Accruals and deferred income

 

136,168

123,456

Other creditors

 

4,502

3,582

 

204,155

237,345


Creditors include bank loans which are secured of £28,355 (2023 - £67,595).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

-

25,030


Creditors include bank loans which are secured of £Nil (2023 - £25,030).

 

Jacmar Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
(continued)

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1,000

1,000

1,000

1,000

       

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

-

25,030

Current loans and borrowings

2024
£

2023
£

Bank borrowings

28,355

67,595