JST Properties Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

JST Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04256280 .

The registered office and principal place of business is at 1 Cow Close, Langford Road, Biggleswade, Bedfordshire, SG18 9JT.

The principal activity of the company continued to be that of property investment.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £GBP.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The Directors consider that the Company has adequate resources to continue in operational existence for the foreseeable future. Accordingly the Directors have continued to prepare the financial statements on the Going Concern basis.

2.3. Turnover

Turnover relates to rental income receivable for the year.

Turnover is recognised to the extent that it is probable that economic benefits will flow to the Company and is measured as the fair value of the rental income received or receivable, excluding discounts, rebates and value added tax.

2.4. Investment Properties

Investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable assets, adjusted as necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in the profit and loss account.

2.5. Financial Instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, typically debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. Similarly in respect of loans to or from directors or shareholders.

Debt instruments other than those wholly repayable or receivable within one year are initially measured at the present value of the future cash flows and subsequently at amortised cost using the effective interest method.

However, if the arrangements constitute a financing transaction, like the payment of a debt deferred beyond normal business terms or in the case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Debtors and Creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price less any impairment. Any losses from impairment or amounts written off are recognised in the profit and loss account.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price net of related costs. Subsequently these are measured at amortised cost using the effective interest rate method, less impairment if applicable. Impairment is computed as the difference between the carrying value of an asset and best estimate of the recoverable amount if sold in the open market at balance sheet date. If an arrangement constitutes a finance transaction it is measured at present value.

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JST Properties Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.5. Financial Instruments - continued

Cash at bank and in hand

Cash at bank and in hand is represented by cash in hand and deposits with financial institutions repayable without penalty within 3 months. Cash equivalents are highly liquid investments that mature within three months from date of acquisition or deposit or notice of withdrawal and are readily convertible to known amounts of cash with insignificant risks of a change in value.

Provisions for liabilities

Provisions for liabilities are made where an event has taken place that gives the company a legal or constructive obligation to make a payment and a reliable estimate can be made of the amount payable, or that may become payable, taking into account relevant facts, risks, uncertainties and stages of negotiation of a settlement sum.

Provisions are charged as an expense to the Profit & Loss Account in the year that the Company becomes aware of the obligation. When cash payments are made these are charged against the provision carried in the Balance sheet. Any difference between the payment and provision is then charged or credited to the Profit & Loss Account.

2.6. Taxation

Taxation for the year comprises current and deferred tax.

Current or deferred taxation liabilities or assets are not discounted.

Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items included in other comprehensive income or directly in equity.

Current tax payable

The tax currently payable is based on taxable profit for the year. Taxable profit may differ from profit as reported in the Profit & Loss Account due to items of income or expense that are taxable or deductible in another year or items that are never taxable or deductible.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Timing differences arise from the inclusion of income and expenditure in periods which are different for tax assessment purposes to those applicable for financial statements.

Full provision is made for deferred tax assets and liabilities arising from timing differences between the recognition of profits, gains or losses in the accounts and their recognition for tax purposes. Recognition of deferred tax assets is limited to the sum that is likely to be recovered against the reversal of deferred tax liabilities or by offset against future taxable profits.

The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 3 (2023: 3)

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JST Properties Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

4. Investment Property

	2024
	£
Fair Value
As at 1 January 2024 and 31 December 2024	700,000

The freehold properties were valued by the directors at the Balance Sheet date based on the Accounting Policy set out under Note 2.4.

If the Investment Properties had been accounted for under historical cost accounting rules, the amounts would be:

	2024	2023
	£	£
Cost	561,483	561,483

5. Debtors

	2024	2023
	£	£
Due within one year
Prepayments and accrued income	395	350

6. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Corporation tax	346	441
Accruals and deferred income	4,823	4,930

	5,169	5,371

7. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Loan - F D O'Dell & Sons Ltd - 1	210,000	210,000
Loan - F D O'Dell & Sons Ltd - 2	55,000	55,000
Loan - due to Directors	50,000	100,000
Loan - due to Associate	50,000	-

	365,000	365,000

The loans from F D O'Dell & Sons Limited, a company owned and controlled by the directors, comprise:

Loan £210,000: Repayable on 3 August 2027. Interest was charged to 25 February 2023 at the rate of 3% and from that date at 2% over Barclays Bank PLC Base Rate. As agreed with the lender for administrative convenience although interest is due to be paid quarterly payment is made in one sum annually.
Loan of £55,000: Repayable on 29 March 2024, extended during the accounting year by five years to 29 March 2029. The company is permitted to repay all or part of the outstanding sum in multiples of £13,000. Interest is charged at the rate of 2% over Barclays Bank PLC Base Rate and is payable every six months. As agreed with the lender for administrative convenience the interest is paid in one sum annually for the two six month periods.

The interest payable to F D O'Dell & Sons Limited for the year was £18,842 (2023 £19,243).

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JST Properties Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

7. Creditors: Amounts Falling Due After More Than One Year - continued

The Directors loan originally made available by Tony & Susan Allan of £100,000 was repayable on 3 August 2022 then extended for a further five years. Repayment can be made earlier, in whole or part, at the company's discretion. Interest was charged to 25 February 2023 at the rate of 3% and from that date at 2% over Barclays Bank PLC Base Rate. Although due quarterly, for administrative convenience as agreed with the lenders, interest is paid in one sum annually. The interest payable for the year was £7,108 (2023 £6,830). The loan was transferred on 30 December 2024 as to 50% of the balance outstanding (£50,000) to Sara Allan (a director) and 50% (£50,000) to a family member who is classified as an Associate of the shareholders and directors.

8. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 January 2024	17,101	17,101

Balance at 31 December 2024	17,101	17,101

The provision relates to deferred taxation in respect of the revaluation of investment properties.

9. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	33,000	33,000

10. Reserves

	Revaluation Reserve
	£
As at 1 January 2024	121,416

As at 31 December 2024	121,416

11. Related Party Transactions

Note 7 sets out details of the loans made available to the company by related parties.

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Investment Properties	4		700,000		700,000

			700,000		700,000
CURRENT ASSETS
Debtors	5	395		350
Cash at bank and in hand		9,443		8,216

		9,838		8,566
Creditors: Amounts Falling Due Within One Year	6	(5,169 )		(5,371 )

NET CURRENT ASSETS (LIABILITIES)			4,669		3,195

TOTAL ASSETS LESS CURRENT LIABILITIES			704,669		703,195

Creditors: Amounts Falling Due After More Than One Year	7		(365,000 )		(365,000 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(17,101 )		(17,101 )

NET ASSETS			322,568		321,094

CAPITAL AND RESERVES
Called up share capital	9		33,000		33,000
Revaluation reserve	10		121,416		121,416
Profit and Loss Account			168,152		166,678

SHAREHOLDERS' FUNDS			322,568		321,094