JM & LA Property Limited 14641162 false 2024-03-01 2025-02-28 2025-02-28 The principal activity of the company is that of property rental. Digita Accounts Production Advanced 6.30.9574.0 true true 14641162 2024-03-01 2025-02-28 14641162 2025-02-28 14641162 core:CurrentFinancialInstruments 2025-02-28 14641162 core:CurrentFinancialInstruments core:WithinOneYear 2025-02-28 14641162 core:Non-currentFinancialInstruments 2025-02-28 14641162 core:Non-currentFinancialInstruments core:AfterOneYear 2025-02-28 14641162 core:FurnitureFittings 2025-02-28 14641162 bus:SmallEntities 2024-03-01 2025-02-28 14641162 bus:AuditExemptWithAccountantsReport 2024-03-01 2025-02-28 14641162 bus:FilletedAccounts 2024-03-01 2025-02-28 14641162 bus:SmallCompaniesRegimeForAccounts 2024-03-01 2025-02-28 14641162 bus:RegisteredOffice 2024-03-01 2025-02-28 14641162 bus:Director1 2024-03-01 2025-02-28 14641162 bus:PrivateLimitedCompanyLtd 2024-03-01 2025-02-28 14641162 core:FurnitureFittings 2024-03-01 2025-02-28 14641162 core:FurnitureFittingsToolsEquipment 2024-03-01 2025-02-28 14641162 countries:EnglandWales 2024-03-01 2025-02-28 14641162 2024-02-29 14641162 core:FurnitureFittings 2024-02-29 14641162 2023-02-06 2024-02-29 14641162 2024-02-29 14641162 core:CurrentFinancialInstruments 2024-02-29 14641162 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 14641162 core:Non-currentFinancialInstruments 2024-02-29 14641162 core:Non-currentFinancialInstruments core:AfterOneYear 2024-02-29 14641162 core:FurnitureFittings 2024-02-29 iso4217:GBP xbrli:pure

Registration number: 14641162

JM & LA Property Limited

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2025

 

JM & LA Property Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

JM & LA Property Limited

(Registration number: 14641162)
Balance Sheet as at 28 February 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

5,636

325

Investment property

5

712,046

640,225

 

717,682

640,550

Current assets

 

Debtors

6

375

404

Cash at bank and in hand

 

20,768

111,617

 

21,143

112,021

Creditors: Amounts falling due within one year

7

(4,332)

(1,702)

Net current assets

 

16,811

110,319

Total assets less current liabilities

 

734,493

750,869

Creditors: Amounts falling due after more than one year

7

(750,000)

(750,000)

Net (liabilities)/assets

 

(15,507)

869

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(15,607)

769

Shareholders' (deficit)/funds

 

(15,507)

869

For the financial year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges her 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

 

JM & LA Property Limited

(Registration number: 14641162)
Balance Sheet as at 28 February 2025

Approved and authorised by the director on 6 June 2025
 

.........................................
L A Norman
Director

 

JM & LA Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

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:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

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.

Going concern

The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, she continues to adopt the going concern basis of accounting in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for rental income in the ordinary course of the company’s activities. Turnover is shown net of sales, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable.

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.

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

Fixtures and fittinbgs

15% Straight line

 

JM & LA Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

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.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

 

JM & LA Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 March 2024

329

329

Additions

5,509

5,509

At 28 February 2025

5,838

5,838

Depreciation

At 1 March 2024

4

4

Charge for the year

198

198

At 28 February 2025

202

202

Carrying amount

At 28 February 2025

5,636

5,636

At 29 February 2024

325

325

5

Investment properties

2025
£

At 1 March

640,225

Additions

71,821

At 28 February

712,046

There has been no valuation of investment property by an independent valuer.

6

Debtors

Current

2025
£

2024
£

Prepayments

375

404

 

375

404

 

JM & LA Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

7

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Trade creditors

1,514

-

Taxation and social security

104

104

Other creditors

2,714

1,598

4,332

1,702

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

8

750,000

750,000

8

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Other borrowings

750,000

750,000

9

Related party transactions

Non current loans and borrowings include an interest free loan of £750,000 (2024: £750,000) due to Little Pip's Nursery Limited, a company owned by Mrs L Norman. This loan will become due in full at 30th September 2043.