JCL Property Limited 31/03/2025 iXBRL

Company registration number: 13334627

JCL Property Limited

Unaudited filleted financial statements

31 March 2025

JCL Property Limited

Contents

Directors and other information

Statement of financial position

Statement of changes in equity

Notes to the financial statements

JCL Property Limited

Directors and other information


	Directors	Richard Meager
		Lucy Meager


	Company number	13334627


	Registered office	1 Cockerel Rise
		Desborough
		Kettering
		NN14 2WE


	Accountants	Clifford Towers
		The Hall
		Priory Hill
		Rugby Road
		CV8 3FZ

JCL Property Limited

Statement of financial position

31 March 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Tangible assets	5	1,100,000		1,100,000
		_______		_______
			1,100,000		1,100,000

Current assets
Debtors	6	3,125		5,725
Cash at bank and in hand		30,313		16,633
		_______		_______
		33,438		22,358
Creditors: amounts falling due
within one year	7	( 128,883)		( 119,526)
		_______		_______
Net current liabilities			( 95,445)		( 97,168)
			_______		_______
Total assets less current liabilities			1,004,555		1,002,832

Creditors: amounts falling due
after more than one year	8		( 387,255)		( 423,563)
			_______		_______
Net assets			617,300		579,269
			_______		_______

Capital and reserves
Called up share capital			548,141		548,141
Profit and loss account			69,159		31,128
			_______		_______
Shareholders funds			617,300		579,269
			_______		_______

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 18 June 2025 , and are signed on behalf of the board by:

Richard Meager

Director

Company registration number: 13334627

JCL Property Limited

Statement of changes in equity

Year ended 31 March 2025

	Called up share capital	Profit and loss account	Total
	£	£	£


At 1 April 2023	548,141	53,465	601,606

Profit for the year		44,543	44,543
	_______	_______	_______
Total comprehensive income for the year	-	44,543	44,543

Dividends paid and payable		( 66,880)	( 66,880)
	_______	_______	_______
Total investments by and distributions to owners	-	( 66,880)	( 66,880)

	_______	_______	_______
At 31 March 2024 and 1 April 2024	548,141	31,128	579,269

Profit for the year		44,031	44,031
	_______	_______	_______
Total comprehensive income for the year	-	44,031	44,031

Dividends paid and payable		( 6,000)	( 6,000)
	_______	_______	_______
Total investments by and distributions to owners	-	( 6,000)	( 6,000)

	_______	_______	_______
At 31 March 2025	548,141	69,159	617,300
	_______	_______	_______

JCL Property Limited

Notes to the financial statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 1 Cockerel Rise, Desborough, Kettering, NN14 2WE.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for the lease of premises, net of discounts and Value Added Tax.

Revenue is recognised when the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates .

Investment property

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).

5. Tangible assets

	Freehold and leasehold properties	Total
	£	£
Cost
At 1 April 2024 and 31 March 2025	1,100,000	1,100,000
	_______	_______
Depreciation
At 1 April 2024 and 31 March 2025	-	-
	_______	_______
Carrying amount
At 31 March 2025	1,100,000	1,100,000
	_______	_______
At 31 March 2024	1,100,000	1,100,000
	_______	_______

Investment property

The 2025 valuation was made by the directors at an open market value for existing use basis .

Tangible assets held at valuation

In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:


	Freehold and leasehold properties	Total
	£	£
At 31 March 2025
Aggregate cost	1,100,000	1,100,000
Aggregate depreciation	-	-
	_______	_______
Carrying amount	1,100,000	1,100,000
	_______	_______

At 31 March 2024
Aggregate cost	1,100,000	1,100,000
Aggregate depreciation	-	-
	_______	_______
Carrying amount	1,100,000	1,100,000
	_______	_______

6. Debtors

	2025	2024
	£	£
Other debtors	3,125	5,725
	_______	_______

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	76,235	69,907
Trade creditors	5,625	5,625
Amounts owed to group undertakings and undertakings in which the company has a participating interest	310	310
Corporation tax	13,313	10,384
Social security and other taxes	5,270	5,270
Other creditors	28,130	28,030
	_______	_______
	128,883	119,526
	_______	_______

8. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	387,255	423,563
	_______	_______

The bank loan is secured by a fixed and floating charge over all of the company's assets as well as a negative pledge.

9. Directors advances, credits and guarantees

	During the year the directors entered into the following advances and credits with the company:

2025
		Balance brought forward	Advances /(credits) to the directors	Amounts repaid	Balance o/standing
		£	£	£	£
	Richard Meager	2,600	6,500	( 9,200)	( 100)
		_______	_______	_______	_______

2024
		Balance brought forward	Advances /(credits) to the directors	Amounts repaid	Balance o/standing
		£	£	£	£
	Richard Meager	( 100)	22,800	( 20,100)	2,600
		_______	_______	_______	_______

10. Related party transactions

Director's loan - interest free and repayable on demand .

11. Controlling party

JCL Property Holdings Limited is the company's controlling party by virtue of its 100% shareholding. Its registered address is 1 Cockerell Drive, Desborough, Kettering, Northamptonshire, NN14 2WE.

JCL Property Limited

The following pages do not form part of the statutory accounts.

JCL Property Limited

Chartered accountants report to the board of directors on the preparation of the

unaudited statutory financial statements of JCL Property Limited

Year ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of JCL Property Limited for the year ended 31 March 2025 which comprise the statement of financial position, statement of changes in equity and 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 http://www.icaew.com /en/members/regulations-standards-and-guidance/.

This report is made solely to the board of directors of JCL Property Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of JCL Property Limited and state those matters that we have agreed to state to the board of directors of JCL Property Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than JCL Property Limited and its board of directors as a body for our work or for this report.

It is your duty to ensure that JCL Property Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of JCL Property Limited. You consider that JCL Property Limited 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 financial statements of JCL Property Limited. 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 statutory financial statements.

Clifford Towers

Chartered Accountants

The Hall

Priory Hill

Rugby Road

CV8 3FZ

18 June 2025