Jelly Property Limited

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 8

Jelly Property Limited

Balance Sheet

31 December 2024

	Note	2024 £	2023 £
Fixed assets
Plant, property and equipment	4	2,895,003	2,947,666
Current assets
Debtors	5	89,782	110,906
Cash at bank and in hand		407,533	351,210
		497,315	462,116
Creditors: Amounts falling due within one year	6	(2,529,008)	(2,699,096)
Net current liabilities		(2,031,693)	(2,236,980)
Total assets less current liabilities		863,310	710,686
Provisions for liabilities		(63,567)	(60,840)
Net assets		799,743	649,846
Capital and reserves
Called up share capital	7	100	100
Profit and loss account		799,643	649,746
Shareholders' funds		799,743	649,846

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 19 September 2025 and signed on its behalf by:
 

......................................... Mr T Gatacre Director

Company Registration Number: 10690122

Jelly Property Limited

Notes to the Financial Statements

Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Hitchcock House Hilltop Park
Devizes Road
Salisbury
SP3 4UF
United Kingdom

These financial statements were authorised for issue by the Board on 19 September 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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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

The Company's turnover comprises rental income and service charges to tenants shown net of value added tax. Leases to tenants where substantially all the risks and rewards of ownership retained by the company as lessor, are classified as operating leases.

Rental income from investment property leased out under an operating lease is recognised in the Income Statement on a straight-line basis over the term of the lease.

Lease incentives granted are recognised as an integral part of the total rental income over the life of the lease.

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.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Jelly Property Limited

Notes to the Financial Statements

Year Ended 31 December 2024

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

The company's freehold land and buildings rented to a group entity are classified with plant, property and equipment, stated at cost less accumulated depreciation and accumulated impairment losses.

Land and buildings are initially measured at cost, which for purchased property comprises:

• purchase price;
• legal and transaction fees; and
• non-refundable purchase taxes;

For self-constructed buildings initial cost additionally comprises all costs associated with bringing the asset to its location and condition necessary for operations, including:

• architecture, design and other professional fees;
• planning consents;
• site preparation;
• delivery of materials and assembly; and
• construction costs;

Freehold land is not depreciated. Depreciation on freehold buildings is calculated, using the straight-lined method, to allocate the cost to their residual values over their estimated useful lives, as follows;

• Freehold buildings - up to 50 years

Assets in the course of construction are stated at cost. These assets are not depreciated until available for use. Residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted prospectively.

Assets are derecognised on disposal or when no future economic benefits are expected. On disposal the difference between the net disposal proceeds and the carrying amount is recognised in profit or loss and included in the other operating gains or losses.

Jelly Property Limited

Notes to the Financial Statements

Year Ended 31 December 2024

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.




 

Deferred tax

Deferred tax is recognised on 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, and is accounted for using the balance sheet liability method.

Deferred tax liabilities are generally recognised for all taxable temporary differences and deferred tax assets are recognised to the extent that it is probable that taxable profits will be available against which deductible temporary differences can be utilised.

The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax is calculated at the tax rates and laws that are expected to apply in the period when the liability is settled or the asset is realised.

Deferred tax assets and liabilities are offset where there is a legally enforceable right to offset current tax assets against current tax liabilities and when the deferred tax assets and liabilities relate to income taxes levied by the same fiscal authority on either the taxable entity or different taxable entities and where there is an intention to settle the balances on a net basis.

Jelly Property Limited

Notes to the Financial Statements

Year Ended 31 December 2024

Impairment

At each reporting date, property, plant and equipment is reviewed for impairment if events or changes in circumstances indicate that the carrying amount may not be recoverable. When a review for impairment is conducted, the recoverable amount is assessed by reference to the net present value of expected future pre-tax cash flows of the relevant cash-generating unit or fair value, less costs to sell if higher.

Any impairment in value is charged to the Income Statement in the period in which it occurs.

Cash and cash equivalents

Cash at bank and in hand comprises cash and demand deposits which are readily convertible to a known amount of cash and are subject to insignificant risk of changes in value.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Leases

Leases to tenants where substantially all the risks and rewards of ownership are retained by the company as lessor, are classified as operating leases. Payments made under operating leases, including prepayments, and net of any incentives provided by the company, are charged to the Income Statement on a straight-line basis over the period of the lease.

Creditors

Short term creditors are measured at the transaction price.

Borrowings

Interest bearing borrowings are initially recorded at fair value, which equals the proceeds received, net of direct issue costs.

Finance charges, including premiums payable on settlement or redemption and direct issue costs, are accounted for on an effective interest rate method and are added to the carrying amount of the instrument to the extent that they are not settled in the period in which they arise.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

Jelly Property Limited

Notes to the Financial Statements

Year Ended 31 December 2024

4	Tangible assets

	Freehold buildings £	Freehold land £	Total £
Cost or valuation
At 1 January 2024	2,633,156	564,683	3,197,839
At 31 December 2024	2,633,156	564,683	3,197,839
Depreciation
At 1 January 2024	250,173	-	250,173
Charge for the year	52,663	-	52,663
At 31 December 2024	302,836	-	302,836
Carrying amount
At 31 December 2024	2,330,320	564,683	2,895,003
At 31 December 2023	2,382,983	564,683	2,947,666

Included within the net book value of land and buildings above is £2,895,003 (2023: £2,947,666) in respect of freehold land and buildings.
 

5

Debtors

	2024 £	2023 £
Accrued income	89,782	110,906
	89,782	110,906

Jelly Property Limited

Notes to the Financial Statements

Year Ended 31 December 2024

6

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Trade creditors	-	3,787
Amounts owed to group undertakings	2,223,031	2,385,000
Corporation tax	36,648	23,027
Taxation and social security	14,093	12,675
Borrowings	244,991	264,991
Accruals and deferred income	10,245	9,616
	2,529,008	2,699,096