J & J Properties (South East) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 06381222 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JANUARY 2024 TO 31 MARCH 2025

FOR

J & J PROPERTIES (SOUTH EAST) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs J M Heap

SECRETARY:

Mrs J M Heap

REGISTERED OFFICE:

Keepers Cottage

Cottage Lane

Sedlescombe

East Sussex

TN33 0RR

REGISTERED NUMBER:

06381222 (England and Wales)

ACCOUNTANTS:

Watson Associates (Professional Services) Limited

30 - 34 North Street

Hailsham

East Sussex

BN27 1DW

FIXED ASSETS

Tangible assets

4

2,520,949

2,520,872

Investments

5

694,015

-

3,214,964

2,520,872

CURRENT ASSETS

Debtors

6

15,782

15,975

Cash at bank and in hand

108,099

282,186

123,881

298,161

CREDITORS

Amounts falling due within one year

7

(3,282

)

(9,092

)

NET CURRENT ASSETS

120,599

289,069

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,335,563

2,809,941

CREDITORS

Amounts falling due after more than one
year

8

(1,942,530

)

(1,348,218

)

PROVISIONS FOR LIABILITIES

(168,041

)

(168,041

)

NET ASSETS

1,224,992

1,293,682

CAPITAL AND RESERVES

Called up share capital

9

100

Share premium

-

407,900

Fair value reserve

10

912,775

Retained earnings

312,117

(27,093

)

SHAREHOLDERS' FUNDS

1,224,992

1,293,682

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director and authorised for issue on 2 December 2025 and were signed by:

Mrs J M Heap - Director

1.	STATUTORY INFORMATION

J & J Properties (South East) 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.

Critical accounting judgements and key sources of estimation uncertainty

No significant judgements have had to be made by management in preparing these financial statements.

There were no key assumptions made concerning the future, and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover

Turnover 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 each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

Taxation for the period 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 period 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Computer

property

fittings

equipment

Totals

£

COST OR VALUATION

At 1 January 2024

2,516,916

5,935

4,515

2,527,366

Additions

-

1,121

1,349

2,470

At 31 March 2025

2,516,916

7,056

5,864

2,529,836

DEPRECIATION

At 1 January 2024

-

2,777

3,717

6,494

Charge for period

-

1,337

1,056

2,393

At 31 March 2025

-

4,114

4,773

8,887

NET BOOK VALUE

At 31 March 2025

2,516,916

2,942

1,091

2,520,949

At 31 December 2023

2,516,916

3,158

798

2,520,872

Cost or valuation at 31 March 2025 is represented by:

Fixtures

Freehold

and

Computer

property

fittings

equipment

Totals

£

Valuation in 2017

384,385

-

384,385

Valuation in 2020

693,762

-

693,762

Cost

1,438,769

7,056

5,864

1,451,689

2,516,916

7,056

5,864

2,529,836

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

Additions

694,015

At 31 March 2025

694,015

NET BOOK VALUE

At 31 March 2025

694,015

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2023

£

Other debtors

15,782

15,975

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2023

£

Trade creditors

-

17

Taxation and social security

35

3,387

Other creditors

3,247

5,688

3,282

9,092

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2025

2023

£

Bank loans

1,942,530

1,348,218

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2023

value:

£

67

Ordinary

£1

67

33

Ordinary B

£1

33

100

10.

RESERVES

Fair

value

reserve

£

At 1 January 2024

and 31 March 2025

912,775

Fair Value Reserve

The fair value reserve comprises the balance of fair values relating to the freehold property net of deferred tax on the gain. This reserve is non-distributable.

Retained Earnings

The retained earnings reserve comprises the balance of profits accumulated over the life of the company. This reserve is distributable.

Capital reduction

On 31 January 2024 a written resolution was passed following a signed solvency statement to cancel £407,900 in the share premium account and the amount credited to retained earnings.

11.	ULTIMATE CONTROLLING PARTY

During the current and previous year the company was under the control of the J Heap, the sole director and majority shareholder of the company.