Registration number:
JM & LA Property Limited
for the Year Ended 28 February 2025
JM & LA Property Limited
Contents
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
JM & LA Property Limited
(Registration number: 14641162)
Balance Sheet as at 28 February 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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( |
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Net (liabilities)/assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
(15,607) |
769 |
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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:
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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
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JM & LA Property Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
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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:
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Asset class |
Depreciation method and rate |
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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
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.
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
JM & LA Property Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025
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Tangible assets |
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Fixtures and fittings |
Total |
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Cost or valuation |
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At 1 March 2024 |
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Additions |
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At 28 February 2025 |
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Depreciation |
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At 1 March 2024 |
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Charge for the year |
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At 28 February 2025 |
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Carrying amount |
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At 28 February 2025 |
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At 29 February 2024 |
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Investment properties |
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2025 |
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At 1 March |
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Additions |
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At 28 February |
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There has been no valuation of investment property by an independent valuer.
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Debtors |
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Current |
2025 |
2024 |
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Prepayments |
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JM & LA Property Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025
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Creditors |
Creditors: amounts falling due within one year
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2025 |
2024 |
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Due within one year |
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Trade creditors |
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- |
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Taxation and social security |
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Other creditors |
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Creditors: amounts falling due after more than one year
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Note |
2025 |
2024 |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
Non-current loans and borrowings
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2025 |
2024 |
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Other borrowings |
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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.