Company Registration No. SC648978 (Scotland)
Jandor Properties Ltd
Unaudited accounts
for the year ended 31 December 2024
Jandor Properties Ltd
Unaudited accounts
Contents
Jandor Properties Ltd
Company Information
for the year ended 31 December 2024
Directors
Amy May West
Jonathan George Smith
Company Number
SC648978 (Scotland)
Registered Office
49 Saltoun Place
Fraserburgh
Aberdeenshire
AB43 9RY
Scotland
Jandor Properties Ltd
Statement of financial position
as at 31 December 2024
Tangible assets
189,997
126,916
Investment property
978,500
743,000
Cash at bank and in hand
2,471
47,422
Creditors: amounts falling due within one year
(291,600)
(209,544)
Net current liabilities
(280,093)
(154,348)
Total assets less current liabilities
888,404
715,568
Creditors: amounts falling due after more than one year
(795,687)
(656,011)
Provisions for liabilities
Deferred tax
(30,837)
(12,930)
Called up share capital
2
2
Revaluation reserve
29,723
32,101
Fair value reserve
135,811
89,452
Profit and loss account
(103,656)
(74,928)
Shareholders' funds
61,880
46,627
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 September 2025 and were signed on its behalf by
Jonathan George Smith
Director
Company Registration No. SC648978
Jandor Properties Ltd
Notes to the Accounts
for the year ended 31 December 2024
Jandor Properties Ltd is a private company, limited by shares, registered in Scotland, registration number SC648978. The registered office is 49 Saltoun Place, Fraserburgh, Aberdeenshire, AB43 9RY, Scotland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10% Straight Line
Motor vehicles
25% Straight Line
Fixtures & fittings
25% Reducing Balance
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Jandor Properties Ltd
Notes to the Accounts
for the year ended 31 December 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2024
120,000
-
-
15,545
135,545
Additions
-
42,245
26,995
-
69,240
At 31 December 2024
120,000
42,245
26,995
15,545
204,785
At 1 January 2024
-
-
-
8,629
8,629
Charge for the year
-
1,056
3,374
1,729
6,159
At 31 December 2024
-
1,056
3,374
10,358
14,788
At 31 December 2024
120,000
41,189
23,621
5,187
189,997
At 31 December 2023
120,000
-
-
6,916
126,916
Carrying amount of land and buildings on cost basis
80,369
80,369
The market value of the properties has been arrived at by the director of the company at the year end date and reviewed annually.
Fair value at 1 January 2024
743,000
Net gain from fair value adjustments
70,647
At 31 December 2024
978,500
The historic cost of the above investment properties totals £797,417 (2023: £632,564). The fair value of the properties has been arrived at by the director of the company on 31 December 2024 on a market value basis.
Amounts falling due within one year
Accrued income and prepayments
3,290
1,028
Jandor Properties Ltd
Notes to the Accounts
for the year ended 31 December 2024
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
37,350
600
Obligations under finance leases and hire purchase contracts
7,395
-
Other creditors
16,803
18,400
Loans from directors
230,052
190,290
The bank loan is a bounce back loan which is backed by the Government. The other loans are secured over the properties to which they relate. The directors have also provided a personal guarantee in relation to these.
8
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
46,781
-
Other creditors
748,106
654,611
Aggregate of amounts that fall due for payment after five years
715,906
654,611
The bank loan is a bounce back loan which is backed by the Government. The other loans are secured over the properties to which they relate. The directors have also provided a personal guarantee in relation to these.
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
10
Transactions with related parties
At the balance sheet date, £230,052 (2023: £190,290) was due to the company directors. This loan is unsecured, interest fee and repayable on demand.
11
Average number of employees
During the year the average number of employees was 0 (2023: 0).