SC446628 false the development and rental of commerical property.2024-05-01 2025-04-30 http://www.companieshouse.gov.uk/2024-04-30 http://www.companieshouse.gov.uk/pt:ShareCapital 2024-04-30 http://www.companieshouse.gov.uk/cd:Director1 2024-05-01 2025-04-30 http://www.companieshouse.gov.uk/pt:ShareCapital 2025-04-30 http://www.companieshouse.gov.uk/cd:OrdinaryShareClass1 2024-05-01 2025-04-30 http://www.companieshouse.gov.uk/cd:RegisteredOffice 2024-05-01 2025-04-30 http://www.companieshouse.gov.uk/cd:AuditExemptWithAccountantsReport 2024-05-01 2025-04-30 http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments 2025-04-30 http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments 2024-04-30 http://www.companieshouse.gov.uk/2024-05-01 2025-04-30 http://www.companieshouse.gov.uk/2024-04-30 http://www.companieshouse.gov.uk/cd:FRS102 2024-05-01 2025-04-30 http://www.companieshouse.gov.uk/2025-04-30 http://www.companieshouse.gov.uk/cd:FullAccounts 2024-05-01 2025-04-30 http://www.companieshouse.gov.uk/cd:PrivateLimitedCompanyLtd 2024-05-01 2025-04-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: SC446628
JSK Developments Ltd
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
Prepared By:
Cunningham Grant
Chartered Accountants
Unit G6, The Granary Business Centre
Coal Road, Cupar
Fife
KY15 5YQ

JSK Developments Ltd

FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
DIRECTORS
Scott Rafferty
REGISTERED OFFICE
Unit G6, The Granary Business Centre
Coal Road
Cupar
Fife
KY15 5YQ
COMPANY DETAILS
Private company limited by shares registered in SC - Scotland, registered number SC446628
ACCOUNTANTS
Cunningham Grant
Chartered Accountants
Unit G6, The Granary Business Centre
Coal Road, Cupar
Fife
KY15 5YQ

JSK Developments Ltd

FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
CONTENTS |  |
|  | Page
Directors' Report |  | -
Accountants' Report |  | -
Statement Of Comprehensive Income |  | -
Balance Sheet |  | 3
Notes To The Accounts |  | 4
The following do not form part of the statutory financial statements: |  |
Trading And Profit And Loss Account |  | -
Profit And Loss Account Summaries |  | -

JSK Developments Ltd

BALANCE SHEET AT 30 April 2025
|  |  |  |  |  | 2025 |  |  |  | 2024
|  | Notes |  |  |  | £ |  |  |  | £
FIXED ASSETS |  |  |  |  |  |  |  |  |  |
Tangible assets |  | 3 |  |  |  | 2,394,945 |  |  |  | 2,322,777
CURRENT ASSETS |  |  |  |  |  |  |  |  |  |
Debtors |  | 4 |  | 250 |  |  |  | 17,370 |  |
Cash at bank and in hand |  |  |  | 69,499 |  |  |  | 39,015 |  |
|  |  |  | 69,749 |  |  |  | 56,385 |  |
CREDITORS: Amounts falling due within one year |  | 5 |  | 800,865 |  |  |  | 719,284 |  |
NET CURRENT LIABILITIES |  |  |  |  |  | (731,116) |  |  |  | (662,899)
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  |  |  |  | 1,663,829 |  |  |  | 1,659,878
CREDITORS: Amounts falling due after more than one year |  | 6 |  |  |  | 831,607 |  |  |  | 891,402
PROVISIONS FOR LIABILITIES AND CHARGES |  |  |  |  |  | 84,266 |  |  |  | 88,325
NET ASSETS |  |  |  |  |  | 747,956 |  |  |  | 680,151
CAPITAL AND RESERVES |  |  |  |  |  |  |  |  |  |
Called up share capital |  | 7 |  |  |  | 3 |  |  |  | 3
Profit and loss account |  |  |  |  |  | 747,953 |  |  |  | 680,148
SHAREHOLDERS' FUNDS |  |  |  |  |  | 747,956 |  |  |  | 680,151
For the year ending 30 April 2025 the company was entitled to exemption 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.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 16 January 2026 and signed on their behalf by |  |  |  |  |  |  |  |  |  |
............................. |  |  |  |  |  |  |  |  |  |
Scott Rafferty |  |  |  |  |  |  |  |  |  |
Director |  |  |  |  |  |  |  |  |  |

JSK Developments Ltd

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2025

1. ACCOUNTING POLICIES

1a. General Information & Basis of Accounting
The company is limited by shares and incorporated in Scotland. The address of the registered office is given in the company information on page 1 of these financial statements.
The financial statements have been prepared in accordance with Financial Reporting Standard FRS 102 including Section 1A Small Entities, the Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. There were no material departures from that standard.
The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £1. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise shown.

1b. Turnover
Turnover represents the amounts receivable arising from the supply of goods net of VAT and trade discounts.
Turnover is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Turnover is recognised as the fair value of the consideration received or receivable for services provided in the normal course of business, net of VAT and trade discounts.

1c. Tangible Fixed Assets |  |
Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Assets in the course of construction are not depreciated until they are available for use.
Depreciation has been provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:
Plant And Machinery |  | straight line 20%
Fixtures And Fittings |  | reducing balance 15%
Motor Cars |  | reducing balance 25%

1d. Investment Properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

JSK Developments Ltd

1e. Impairment Of Fixed Assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1f. Cash And Cash Equivalents
Cash and cash equivalents are basic financial instruments which include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1g. Financial Instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1h. Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued, non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

1i. Critical Accounting Estimates And Judgements
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources.
The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period, or in the period of the revision and future periods where the revision affects both current and future periods.

JSK Developments Ltd

2. EMPLOYEES |  |  |  |  |  |
|  |  |  | 2025 |  | 2024
|  |  |  | No. |  | No.
Average number of employees |  |  |  | 2 |  | 2

3. TANGIBLE FIXED ASSETS |  |  |  |  |  |
|  | Land And |  | Plant and |  |
|  | Buildings |  | Machinery Etc. |  | Total
|  | £ |  | £ |  | £
Cost |  |  |  |  |  |
At 1 May 2024 |  | 2,300,000 |  | 169,660 |  | 2,469,660
Additions |  | 89,014 |  | 5,604 |  | 94,618
Revaluation |  | (14,014) |  | - |  | (14,014)
At 30 April 2025 |  | 2,375,000 |  | 175,264 |  | 2,550,264
Depreciation |  |  |  |  |  |
At 1 May 2024 |  | - |  | 146,883 |  | 146,883
For the year |  | - |  | 8,436 |  | 8,436
At 30 April 2025 |  | - |  | 155,319 |  | 155,319
Net Book Amounts |  |  |  |  |  |
At 30 April 2025 |  | 2,375,000 |  | 19,945 |  | 2,394,945
At 30 April 2024 |  | 2,300,000 |  | 22,777 |  | 2,322,777
The investment properties were valued at fair value by the director at 30 April 2025. |  |

4. DEBTORS |  |  |  | 2025 |  | 2024
|  |  |  | £ |  | £
Amounts falling due within one year: |  |  |  |  |  |
Trade debtors |  |  |  | 70 |  | 17,370
Other debtors |  |  |  | 180 |  | -
|  |  |  | 250 |  | 17,370

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |  |  |  |  |  |
|  |  |  | 2025 |  | 2024
|  |  |  | £ |  | £
Bank loans and overdrafts |  |  |  | 57,695 |  | 49,694
Trade creditors |  |  |  | 3,159 |  | 6,147
Taxation and social security |  |  |  | 40,905 |  | 35,568
Other creditors |  |  |  | 699,106 |  | 627,875
|  |  |  | 800,865 |  | 719,284

JSK Developments Ltd

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |  |  |  |  |  |
|  |  |  | 2025 |  | 2024
|  |  |  | £ |  | £
Bank loans and overdrafts |  |  |  | 831,607 |  | 891,402
|  |  |  | 831,607 |  | 891,402
Bank loans totalling £889,302 (2024 - £941,096) are secured with a standard security over the company's investment property.

7. SHARE CAPITAL |  |  |  | 2025 |  | 2024
|  |  |  | £ |  | £
Allotted, issued and fully paid: |  |  |  |  |  |
3 Ordinary shares of £1 each |  |  |  | 3 |  | 3
|  |  |  | 3 |  | 3

8. PROFIT AND LOSS RESERVES
Profit and loss account - This reserve records retained earnings and accumulated losses including surplus/ deficit on market value changes of investment properties. At the year end £290,888 (2024 - £301,399) is non distributable.

9. RELATED PARTY TRANSACTIONS
Included in other creditors at year end are interest free loans of £635,725 (2024 - £568,580) from shareholders and £2,257 (2024 - £2,257) from the director. There is no fixed repayment date.