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Registration number: SC256201

Jodpars Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Jodpars Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 7

 

Jodpars Ltd

Company Information

Director

Mr J Docherty

Company secretary

Mr J Docherty

Registered office



Registered Number

24 Relugas Place
Edinburgh
EH9 2PY

SC256201 (Scotland)

Accountants

Brown, Scott & Main
 Chartered Accountants
91 West Savile Terrace
Edinburgh
EH9 3DP

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Jodpars 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 financial statements of Jodpars Ltd for the year ended 30 September 2024 as set out on pages 3 to 7 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 of Scotland, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance

This report is made solely to the director of Jodpars Limited, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial information of Jodpars Ltd and state those matters that we have agreed to state to the director of Jodpars Limited in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Jodpars Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Jodpars Ltd. You consider that Jodpars Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Jodpars Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.

......................................

Brown, Scott & Main
Chartered Accountants
91 West Savile Terrace
Edinburgh
Lothian
EH9 3DP

17 June 2025

 

Jodpars Ltd

(Registration number: SC256201)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Tangible assets

5

203

332

Investment property

6

1,400,000

1,400,000

 

1,400,203

1,400,332

Current assets

 

Debtors

7

615

247

Cash at bank and in hand

 

179,556

153,901

 

180,171

154,148

Creditors: Amounts falling due within one year

8

(21,545)

(24,955)

Net current assets

 

158,626

129,193

Total assets less current liabilities

 

1,558,829

1,529,525

Creditors: Amounts falling due after more than one year

8

(766,270)

(749,424)

Provisions for liabilities

10

(57,664)

(57,664)

Net assets

 

734,895

722,437

Capital and reserves

 

Called up share capital

100

100

Other reserves

534,382

534,382

Retained earnings

200,413

187,955

Shareholders' funds

 

734,895

722,437

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.

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 his 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 and 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.

Approved and authorised by the director on 17 June 2025
 

.........................................
Mr J Docherty
Company secretary and director

 

Jodpars Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
24 Relugas Place
Edinburgh
EH9 2PY
UK

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.

The presentational currency is sterling.


Financial instruments
Financial instruments are recognised in the company’s balance sheet when the company becomes party to the contractual provisions of the instrument.

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 value rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic Financial Liabilities
Basic financial liabilities, which include creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. 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. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective rate of interest.

Revenue recognition

Turnover represents the total value, excluding value added tax, of the revenue earned on rent and insurance receivable for the year. Turnover recognised in advance of the client being billed is included in debtors.

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value and is shown at its most recent valuation at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account. This is transferred, for ease of identification, to a non-distributable reserve which displays the cumulative unrealised surplus on revaluation net of deferred taxation.Transfers and the resultant balances are shown in the Statement of Changes in Equity.

 

Jodpars Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Tangible assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life as follows:

Fixtures and fittings - 15% to 25% per annum of cost
Plant and machinery - 25% per annum of cost

Impairment of fixed assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

Jodpars Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Going concern

3

Staff numbers

The average number of employees during the year was 1 (2023 - 1).

4

Taxation

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2024

2023

Current tax:

£

£

UK corporation tax

2,952

6,423

Deferred tax

-

11,533

Tax on profit

2,952

17,956

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost

At 1 October 2023

18,243

18,243

At 30 September 2024

18,243

18,243

Depreciation

At 1 October 2023

17,911

17,911

Charge for the year

129

129

At 30 September 2024

18,040

18,040

Carrying amount

At 30 September 2024

203

203

At 30 September 2023

332

332

6

Investment properties

2024
£

Valuation
At 1 October

1,400,000

The valuation of heritable properties remained unchanged as at 30 September 2024.

If heritable property had not been revalued they would have been included at cost of £807,954 (2023 £807,954).

7

Debtors

 

Jodpars Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

2024
£

2023
£

Prepayments

615

247

615

247

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

2,952

6,423

Accruals and deferred income

2,580

2,520

Other creditors

16,013

16,012

21,545

24,955

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

766,270

749,424

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

766,270

749,424

Current loans and borrowings

2024
£

2023
£

 

10

Deferred tax

2024

2023

Deferred tax

£

£

At

1 October 2023

57,664

46,131

Charge reflecting rate increase

-

11,533

At

30 September 2024

57,664

57,664

 

11

Security

The Company has provided a floating charge over the whole of its assets in favour of Paragon Mortgages Limited.

In addition the company has provided standard securities over each of its investment properties in favour of Paragon Mortgages Limited or Mortgages Trust Limited.