Registered number
12185730
JASGEO LTD
Unaudited Filleted Accounts
30 September 2024
JASGEO LTD
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of JASGEO LTD for the year ended 30 September 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of JASGEO LTD for the year ended 30 September 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
www.icaew.com/en/members/regulations-standards-and-guidance
Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF.
Weber & Associates
Chartered Accountants
5 St John's Lane
LONDON
EC1M 4BH
10 June 2025
JASGEO LTD
Registered number: 12185730
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 776,000 765,000
Current assets
Debtors 4 - 2,745
Cash at bank and in hand 9,098 24,705
9,098 27,450
Creditors: amounts falling due within one year 5 (170,736) (194,456)
Net current liabilities (161,638) (167,006)
Total assets less current liabilities 614,362 597,994
Creditors: amounts falling due after more than one year 6 (463,943) (463,952)
Provisions for liabilities (2,090) (11,400)
Net assets 148,329 122,642
Capital and reserves
4 4
Profit and loss account 148,325 122,638
Shareholders' funds 148,329 122,642
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P. Milcoy
Director
Approved by the board on 10 June 2025
JASGEO LTD
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
The directors, having assessed the available information and after making appropriate enquiries, have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Investment properties
Investment properties are carried at fair value at each reporting date, determined annually by the directors and derived from the current market rents and investment properties yields for comparable real estate, adjusted if necessary for any difference in the nature, location and condition or the specific asset. No depreciation is provided on the investment properties. Changes in fair values are recognised in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Investments
Investment
properties
£
Cost
At 1 October 2023 765,000
Revaluation 11,000
At 30 September 2024 776,000
Historical cost
At 1 October 2023 765,000
At 30 September 2024 776,000
The properties were revalued during the year using the desktop valuation.
4 Debtors 2024 2023
£ £
Trade debtors - 1,450
Other debtors - 1,295
- 2,745
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 243 -
Taxation and social security costs 1,261 911
Other creditors 169,232 193,545
170,736 194,456
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 463,943 463,952
7 Revaluation reserve 2024 2023
£ £
At 1 October 2023 - 60,000
Unrealised gain transferred to profit and loss account - (60,000)
At 30 September 2024 - -
8 Related party transactions
As at the balance sheet date, the company owed Mr P. Milcoy and Mrs V. Milcoy a sum of £168,063 (2023: £192,439).
9 Controlling party
Mr P. Milcoy and Mrs V. Milcoy, the directors of the company, control the company as a result of controlling, directly or indirectly, 100 per cent of the issued share capital of the company.
10 Other information
JASGEO LTD is a private company limited by shares and incorporated in England. Its registered office is:
33 Spring Gardens
Orpington
BR6 6HJ
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