Company No:
Contents
| DIRECTORS | R L J Wordley |
| L B Wordley |
| REGISTERED OFFICE | Grosvenor House Hawksworth Road |
| Central Park | |
| Telford | |
| TF2 9TU | |
| United Kingdom |
| COMPANY NUMBER | 12040579 (England and Wales) |
| ACCOUNTANT | S&W Partners LLP |
| 103 Colmore Row | |
| Birmingham | |
| B3 3AG |
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Investment property | 3 |
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| 3,793,600 | 1,551,600 | |||
| Current assets | ||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| 10,174 | 14,065 | |||
| Creditors: amounts falling due within one year | 5 | (
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| Net current liabilities | (2,261,297) | (636,171) | ||
| Total assets less current liabilities | 1,532,303 | 915,429 | ||
| Creditors: amounts falling due after more than one year | 6 | (
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| Net liabilities | (
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| Capital and reserves | ||||
| Called-up share capital |
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| Revaluation reserve |
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| Profit and loss account | (
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| Total shareholder's deficit | (
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Directors' responsibilities:
The financial statements of JarJar Properties Ltd (registered number:
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R L J Wordley
Director |
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.
JarJar Properties Ltd (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 Grosvenor House, Hawksworth Road, Teleford, TF2 9TU.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The functional currency of JarJar Properties Ltd is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.
These financial statements are separate financial statements.
Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount.
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 Balance Sheet date.
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
The fair value is determined annually by external valuers and derived from current market rent and investment property yields for comparable real estate, adjusted if necessary, for any difference in nature, location or condition of the specific property.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.
Financial liabilities are derecognised when the Company’s contractual obligations expire or are discharged or cancelled.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.
| 2024 | 2023 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
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| Investment property | |
| £ | |
| Valuation | |
| As at 01 April 2023 |
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| Additions | 2,242,000 |
| As at 31 March 2024 |
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| 2024 | 2023 | ||
| £ | £ | ||
| Trade debtors |
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| Prepayments |
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| 2024 | 2023 | ||
| £ | £ | ||
| Trade creditors |
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| Amounts owed to Group undertakings (note 7) | (
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| Amounts owed to directors (note 7) |
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| Other loans |
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| Accruals and deferred income |
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| Other creditors |
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| 2024 | 2023 | ||
| £ | £ | ||
| Other loans |
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Transactions with the entity’s directors (or members of its governing body)
Amounts owed to directors
| 2024 | 2023 | ||
| £ | £ | ||
| Directors' Loan Account |
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