Registration number: SC228562

Jack 123 Properties Ltd

Contents

Statement of Financial Position	1 to 2
Notes to the Unaudited Financial Statements	3 to 7

Jack 123 Properties Ltd

(Registration number: SC228562)
Statement of Financial Position as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Investment property	5	1,052,423	1,052,423
Current assets
Debtors	6	6,000	6,000
Cash at bank and in hand		5,162	4,148
		11,162	10,148
Creditors: Amounts falling due within one year	7	(245,586)	(281,841)
Net current liabilities		(234,424)	(271,693)
Total assets less current liabilities		817,999	780,730
Creditors: Amounts falling due after more than one year	7	(462)	(2,395)
Provisions for liabilities		(48,331)	(48,331)
Net assets		769,206	730,004
Capital and reserves
Called up share capital		50,000	50,000
Retained earnings		719,206	680,004
Shareholders' funds		769,206	730,004

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The Director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 23 December 2025
 

Jack 123 Properties Ltd

(Registration number: SC228562)
Statement of Financial Position as at 31 March 2025

......................................... Mrs M Horne Director

Jack 123 Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The Company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
22-26 Seagate
Dundee
DD1 2EQ
Scotland

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Tax

The tax expense for the period comprises current 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 income 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.

Jack 123 Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures & Fittings	10% Reducing Balance
Equipment	15% Reducing Balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the Company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Jack 123 Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual agreement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3	Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 0 (2024 - 0).

Jack 123 Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 April 2024	2,000	2,000
At 31 March 2025	2,000	2,000
Amortisation
At 1 April 2024	2,000	2,000
At 31 March 2025	2,000	2,000
Carrying amount
At 31 March 2025	-	-

5	Investment properties

	2025 £
At 1 April	1,052,423
At 31 March	1,052,423

There has been no valuation of investment property by an independent valuer.

6

Debtors

Current	2025 £	2024 £
Trade debtors	6,000	6,000
	6,000	6,000

Jack 123 Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	2,023	2,023
Trade creditors		5,133	4,067
Taxation and social security		66,438	55,659
Accruals and deferred income		2,361	4,255
Other creditors		169,631	215,837
		245,586	281,841

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	462	2,395

8

Reserves

	2025		2024
	£		£
Profit and loss - distributable	574,214		535,012
Revaluation of investment properties - undistributable	193,322		193,322
Deferred tax - undistributable	(48,330)		(48,330)
	719,206		680,004

9	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	462	2,395

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	2,023	2,023