REGISTERED NUMBER: 11662638 (England and Wales)

JSEA PROPERTIES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr L S Bal

Mrs G K Bal

REGISTERED OFFICE:

The Chase

Doncaster Road

Whitley

Goole

DN14 0JW

REGISTERED NUMBER:

11662638 (England and Wales)

ACCOUNTANTS:

Shah & Co (Accountants) Ltd

Chartered Certified Accountants

Cash's Business Centre

1st Floor

228 Widdrington Road

Coventry

West Midlands

CV1 4PB

FIXED ASSETS

Tangible assets

4

224

280

Investment property

5

104,637

104,637

104,861

104,917

CURRENT ASSETS

Cash at bank

23,293

20,798

CREDITORS

Amounts falling due within one year

6

(61,126

)

(57,915

)

NET CURRENT LIABILITIES

(37,833

)

(37,117

)

TOTAL ASSETS LESS CURRENT LIABILITIES

67,028

67,800

CREDITORS

Amounts falling due after more than one year

7

(70,567

)

(70,567

)

NET LIABILITIES

(3,539

)

(2,767

)

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

(3,639

)

(2,867

)

SHAREHOLDERS' FUNDS

(3,539

)

(2,767

)

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 28 July 2025 and were signed on its behalf by:

Mr L S Bal - Director

1.	STATUTORY INFORMATION

Jsea Properties Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

At the year end, the company balance sheet is showing net current liabilities position of £37,833 (2023: £37,117) and net liabilities position of £3,539 (2023: £2,767). This is primarily due to monies owed to the directors and an external mortgage on the investment property. The company continues to trade as a going concern with the ongoing financial support of its directors and external lender. As such the accounts have been prepared on this basis.

Turnover

Turnover represents rent receivable and is accounted for on an accruals basis.

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

-

20% on reducing balance

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.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2024

and 31 December 2024

805

DEPRECIATION

At 1 January 2024

525

Charge for year

56

At 31 December 2024

581

NET BOOK VALUE

At 31 December 2024

224

At 31 December 2023

280

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

104,637

NET BOOK VALUE

At 31 December 2024

104,637

At 31 December 2023

104,637

The directors are of the opinion that there is no significant change to the valuation of the investment property at the balance sheet date and as such the valuation represents fair value which is based on market value of similar properties in the area where the property is situated.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Taxation and social security

1

1

Other creditors

61,125

57,914

61,126

57,915

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Other creditors

70,567

70,567

Amounts falling due in more than five years:

Repayable by instalments

Other loans more 5yrs instal

60,359

60,359

8.	SECURED DEBTS

Other loans is secured by way of a floating charge over the investment property.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

100

Ordinary

£1

100

100

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within other creditors is £55,450 (2023: £52,239) owed to the directors. The amount is unsecured and interest free with no set terms for repayment

11.	ULTIMATE CONTROLLING PARTY

The company is controlled by its directors.