REGISTERED NUMBER: 00631048 (England and Wales)

Jacgilden Properties Limited

Financial Statements

for the Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs G P Brookes

Ms D M Rowe

Mrs J McNamara

REGISTERED OFFICE:

24 Cornwall Road

Dorchester

Dorset

DT1 1RX

REGISTERED NUMBER:

00631048 (England and Wales)

ACCOUNTANTS:

Read Woodruff

Chartered Accountants

24 Cornwall Road

Dorchester

Dorset

DT1 1RX

FIXED ASSETS

Tangible assets

4

931,933

933,457

Investment property

5

7,440,000

7,390,000

8,371,933

8,323,457

CURRENT ASSETS

Stocks

2,730

3,009

Debtors

6

86,400

89,597

Investments

7

894

894

Cash at bank

1,442,638

1,364,882

1,532,662

1,458,382

CREDITORS

Amounts falling due within one year

8

222,723

193,003

NET CURRENT ASSETS

1,309,939

1,265,379

TOTAL ASSETS LESS CURRENT LIABILITIES

9,681,872

9,588,836

PROVISIONS FOR LIABILITIES

9

870,431

858,038

NET ASSETS

8,811,441

8,730,798

CAPITAL AND RESERVES

Called up share capital

10

180

180

Undistributable reserves

11

3,995,805

3,958,305

Other reserves

180

180

Retained earnings

4,815,276

4,772,133

SHAREHOLDERS' FUNDS

8,811,441

8,730,798

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 September 2025 and were signed on its behalf by:

Mrs G P Brookes - Director

1.	STATUTORY INFORMATION

Jacgilden Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Income is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Freehold farm

-

2% on cost

Farm arena and plant

-

20% on reducing balance and 5% on cost

Office equipment

-

10% on cost

Fixtures and fittings

-

10% on cost

Farm freehold land and buildings is occupied by the company. The directors consider that freehold properties are maintained in such a state of repair that their residual value is at least equal to their net book value. As a result, the corresponding depreciation charge for the year is nil. The directors perform annual impairment reviews to ensure that the recoverable amount is not lower than the carrying value.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Undistributable reserves

Whilst fair value gains on investment property are taken to the profit and loss account, they are not distributable as dividend to shareholders because the gain is unrealised. The company therefore adopts the policy of transferring the fair value adjustment net/inclusive of the deferred tax charge/credit to a separate account, 'undistributable reserves'. In practical reporting terms, the former revaluation reserve has been reclassified as 'undistributable reserves' and the deferred tax adjustments have been charged or credited as appropriate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Farm

Fixtures

Freehold

arena and

Office

and

farm

plant

equipment

fittings

Totals

£

£

£

£

£

COST

At 1 January 2024

and 31 December 2024

926,883

35,973

4,236

7,964

975,056

DEPRECIATION

At 1 January 2024

-

30,060

3,575

7,964

41,599

Charge for year

-

1,392

132

-

1,524

At 31 December 2024

-

31,452

3,707

7,964

43,123

NET BOOK VALUE

At 31 December 2024

926,883

4,521

529

-

931,933

At 31 December 2023

926,883

5,913

661

-

933,457

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

7,390,000

Revaluations

50,000

At 31 December 2024

7,440,000

NET BOOK VALUE

At 31 December 2024

7,440,000

At 31 December 2023

7,390,000

Fair value at 31 December 2024 is represented by:

£

Valuation in 2024

4,777,558

Cost

2,662,442

7,440,000

If investment properties had not been revalued they would have been included at the following historical cost:

2024

2023

£

£

Cost

2,662,442

2,662,442

Investment properties were valued on a fair value basis on 31 December 2024 by the directors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

71,173

85,299

Other debtors

10,440

-

Prepayments and accrued income

4,787

4,298

86,400

89,597

7.	CURRENT ASSET INVESTMENTS

2024

2023

£

£

Listed investments

180

180

Unlisted investments

714

714

894

894

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

77,985

73,425

UK corporation tax

74,646

52,576

Tax and social security costs

37,198

38,365

Other creditors

25,000

19,500

Accruals and deferred income

7,894

9,137

222,723

193,003

9.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

Accelerated capital allowances

422

529

Accelerated industrial and agricultural buildings allowances

88,256

88,256

Capital gains on investment properties

781,753

769,253

870,431

858,038

Deferred

tax

£

Balance at 1 January 2024

858,038

Charge to Income Statement during year

12,393

Balance at 31 December 2024

870,431

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

180

Ordinary

£1

180

180

11.

RESERVES

Undistributable

reserves

£

At 1 January 2024

3,958,305

Transfer unrealised gain on investment properties to undistributable reserves

37,500

At 31 December 2024

3,995,805

Undistributable reserves represent the unrealised gains on carrying investment property at fair value less the deferred tax provision thereon; being unrealised, such amounts are not available to be distributed as dividend to shareholders.

Other reserves arose as a result of including listed and unlisted investments received on disbandment of the Milk Marketing Board at valuation on acquisition in 1994.