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Registration number: 08936055

JPI Developers Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

JPI Developers Ltd

Contents

Company Information

1

Balance Sheet

2

Statement of Changes in Equity

3

Notes to the Unaudited Financial Statements

4 to 7

 

JPI Developers Ltd

Company Information

Director

Mr Ian Everard

Company secretary

Mrs Jeannine Rodriguez

Registered office

93 Aldwick Road
Bognor Regis
West Sussex
PO21 2NW

Accountants

Matthews Hanton Limited
Chartered Certified Accountants93 Aldwick Road
Bognor Regis
West Sussex
PO21 2NW

 

JPI Developers Ltd

(Registration number: 08936055)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

390,283

390,354

Current assets

 

Cash at bank and in hand

 

256

1,156

Creditors: Amounts falling due within one year

6

(15,808)

(11,816)

Net current liabilities

 

(15,552)

(10,660)

Total assets less current liabilities

 

374,731

379,694

Creditors: Amounts falling due after more than one year

6

(215,517)

(207,331)

Provisions for liabilities

(49,177)

(49,177)

Net assets

 

110,037

123,186

Capital and reserves

 

Called up share capital

7

4

4

Other reserves

258,823

258,823

Retained earnings

(148,790)

(135,641)

Shareholders' funds

 

110,037

123,186

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 12 June 2025
 

.........................................
Mr Ian Everard
Director

 

JPI Developers Ltd

Statement of Changes in Equity for the Year Ended 30 September 2024

Share capital
£

Other reserves
£

Retained earnings
£

Total
£

At 1 October 2023

4

258,823

(135,641)

123,186

Loss for the year

-

-

(13,149)

(13,149)

At 30 September 2024

4

258,823

(148,790)

110,037

Share capital
£

Other reserves
£

Retained earnings
£

Total
£

At 1 October 2022

4

194,823

(92,037)

102,790

Profit for the year

-

-

20,396

20,396

Other comprehensive income

-

64,000

(64,000)

-

Total comprehensive income

-

64,000

(43,604)

20,396

At 30 September 2023

4

258,823

(135,641)

123,186

 

JPI Developers 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 England and Wales.

The address of its registered office is:
93 Aldwick Road
Bognor Regis
West Sussex
PO21 2NW
United Kingdom

These financial statements were authorised for issue by the director on 12 June 2025.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises 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.

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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

 

JPI Developers Ltd

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

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:

Asset class

Depreciation method and rate

Plant and equipment

25% Reducing Balance

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

JPI Developers Ltd

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

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 October 2023

390,000

1,080

391,080

At 30 September 2024

390,000

1,080

391,080

Depreciation

At 1 October 2023

-

726

726

Charge for the year

-

71

71

At 30 September 2024

-

797

797

Carrying amount

At 30 September 2024

390,000

283

390,283

At 30 September 2023

390,000

354

390,354

Included within the net book value of land and buildings above is £390,000 (2023 - £390,000) in respect of freehold land and buildings.
 

 

JPI Developers Ltd

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

5

Stocks

2024
£

2023
£

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

675

677

Accruals and deferred income

742

742

Other creditors

14,391

10,397

15,808

11,816

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

215,517

207,331

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

4

4

4

4

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

215,517

207,331