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Company No: 01171968 (England and Wales)

JASIL PROPERTIES LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

JASIL PROPERTIES LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

JASIL PROPERTIES LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 September 2024
JASIL PROPERTIES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,193 547
Investment property 4 4,213,452 4,213,452
Investments 5 1 1
4,214,646 4,214,000
Current assets
Stocks 6 367,824 149,448
Debtors 7 215,742 213,255
Cash at bank and in hand 8 230,519 589,419
814,085 952,122
Creditors: amounts falling due within one year 9 ( 114,078) ( 159,839)
Net current assets 700,007 792,283
Total assets less current liabilities 4,914,653 5,006,283
Provision for liabilities 10 ( 541,900) ( 541,900)
Net assets 4,372,753 4,464,383
Capital and reserves
Called-up share capital 11 3,460 3,460
Share premium account 95,254 95,254
Revaluation reserve 2,167,590 2,167,590
Profit and loss account 2,106,449 2,198,079
Total shareholders' funds 4,372,753 4,464,383

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Jasil Properties Limited (registered number: 01171968) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

J A Lichtenfeld
Director

05 June 2025

JASIL PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
JASIL PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Jasil Properties Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

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

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

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 that 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 Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including directors 3 3

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 October 2023 13,970 13,970
Additions 1,119 1,119
At 30 September 2024 15,089 15,089
Accumulated depreciation
At 01 October 2023 13,423 13,423
Charge for the financial year 473 473
At 30 September 2024 13,896 13,896
Net book value
At 30 September 2024 1,193 1,193
At 30 September 2023 547 547

4. Investment property

Investment property
£
Valuation
As at 01 October 2023 4,213,452
As at 30 September 2024 4,213,452

The freehold investment properties, which have a historic cost to the company of £1,802,561 (2023: £1,802,561), were valued by the directors, on the basis of their individual open market values. A provision has been made for any tax liabilities which might arise if all the properties were to be realised at their market values. The amount of such liabilities is estimated at £541,900 (2023: £541,900).

5. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 October 2023 1
At 30 September 2024 1
Carrying value at 30 September 2024 1
Carrying value at 30 September 2023 1

6. Stocks

2024 2023
£ £
Stocks 367,824 149,448

7. Debtors

2024 2023
£ £
Trade debtors 3,257 3,257
Other debtors 212,485 209,998
215,742 213,255

8. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 163,508 391,933
Short-term deposits 67,011 197,486
230,519 589,419

9. Creditors: amounts falling due within one year

2024 2023
£ £
Taxation and social security 1,861 46,580
Other creditors 112,217 113,259
114,078 159,839

Amounts owed to group undertakings are repayable on demand and do not bear interest.

10. Provision for liabilities

2024 2023
£ £
Deferred tax 541,900 541,900
Deferred taxation Total
£ £
At 01 October 2023 541,900 541,900
At 30 September 2024 541,900 541,900

Deferred tax

2024 2023
£ £
Other timing differences 541,900 541,900
Provision for deferred tax 541,900 541,900

11. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
825 Ordinary shares of £ 1.00 each 825 825
2,635 Ordinary A shares of £ 1.00 each 2,635 2,635
3,460 3,460

12. Related party transactions

Included in other debtors is a balance of £200,000 (2023: £200,000) due from Town & Provincial Limited. A company in which Mr J A Lichtenfeld is also a director. This balance is unsecured and interest free. During the year, the company received services from Town & Provincial Ltd to the value of £11,500 (2023: £Nil).

During the year, the company received services from JSL Management Ltd to the value of £80,400 (2023: £80,400). A company in which Mr J A Lichtenfeld is also a director, the amount due to JSL Management Ltd at the year end was £nil (2023: £6,700).