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Registration number: 10495723

Jones Properties (NE) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

Jones Properties (NE) Ltd

(Registration number: 10495723)
Statement of Financial Position as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,909,242

2,909,242

Current assets

 

Debtors

5

10,819

13,646

Cash at bank and in hand

 

4,050

74,581

 

14,869

88,227

Creditors: Amounts falling due within one year

6

(247,336)

(116,776)

Net current liabilities

 

(232,467)

(28,549)

Total assets less current liabilities

 

2,676,775

2,880,693

Creditors: Amounts falling due after more than one year

6

(1,558,702)

(1,725,517)

Provisions for liabilities

(9,310)

(9,310)

Net assets

 

1,108,763

1,145,866

Capital and reserves

 

Called up share capital

400

400

Share premium reserve

1,227,978

1,227,978

Revaluation reserve

49,000

49,000

Retained earnings

(168,615)

(131,512)

Shareholders' funds

 

1,108,763

1,145,866

 

Jones Properties (NE) Ltd

(Registration number: 10495723)
Statement of Financial Position as at 30 November 2024

For the financial year ending 30 November 2024 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 3 June 2025 and signed on its behalf by:
 

.........................................
Mr Steve James Jones
Director

 

Jones Properties (NE) Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
100 Osborne Road
Jesmond
Newcastle Upon Tyne
Tyne And Wear
NE2 2TD

These financial statements were authorised for issue by the Board on 3 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 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.

 

Jones Properties (NE) Ltd

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

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.

Tangible assets

Tangible assets are stated in the statement of financial position 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.

Asset class

Depreciation method and rate

Land & Buildings

No depreciation

Investment property

Investment property is included at fair value. Gains are recognised in the income statement.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Jones Properties (NE) Ltd

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

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 December 2023

2,909,242

2,909,242

At 30 November 2024

2,909,242

2,909,242

Depreciation

Carrying amount

At 30 November 2024

2,909,242

2,909,242

At 30 November 2023

2,909,242

2,909,242

Included within the net book value of land and buildings above is £2,909,242 (2023 - £2,909,242) in respect of freehold land and buildings.
 

5

Debtors

Current

2024
£

2023
£

Prepayments

10,819

13,646

 

10,819

13,646

 

Jones Properties (NE) Ltd

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

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

-

8,000

Trade creditors

 

-

90

Taxation and social security

 

148

30

Accruals and deferred income

 

1,770

1,734

Other creditors

 

245,418

106,922

 

247,336

116,776

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

1,558,702

1,725,517

7

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

49,000

49,000

 

Jones Properties (NE) Ltd

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

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

1,558,702

1,725,517

Current loans and borrowings

2024
£

2023
£

Bank borrowings

-

8,000

Bank borrowings

The following secured debt is included within creditors £1,542,702 (2023 - £1,713,517).

The bank loans are secured against assets of the company

9

Related party transactions

 

Jones Properties (NE) Ltd

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

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

15,118

6,398

Other transactions with directors

Two of the company's directors live within one of the company's properties & pay to the company a rent that the directors believe to be at fair market value.