General Information
JW Portfolio Ltd is a private company, limited by shares, registered in England and Wales, registration number 14259391, registration address Suite 1, The Portway Centre, Old Sarum Park, Salisbury, SP4 6EB.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the proceeds of sale of residential property.
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.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognized in profit or loss.
Stocks
Stocks represent the value of materials, work in progress, and other costs associated with the development of residential property.
|
| 2. |
Average number of employees
Average number of employees during the period was 0 (2024 : 0).
|
| 3. |
Investment property
| Cost |
Other investments other than loans |
|
Total |
| |
£ |
|
£ |
| At 01 August 2024 |
218,650 |
|
218,650 |
| Additions |
- |
|
- |
| Disposals |
(218,650) |
|
(218,650) |
| At 31 December 2025 |
- |
|
- |
|
| 4. |
Stocks
|
2025
£ |
|
2024
£ |
| Stocks |
0 |
|
475,570 |
|
0 |
|
475,570 |
|
| 5. |
Debtors: amounts falling due within one year
|
2025
£ |
|
2024
£ |
| Prepayments & Accrued Income |
0 |
|
4,970 |
|
0 |
|
4,970 |
|
| 6. |
Creditors: amount falling due within one year
|
2025
£ |
|
2024
£ |
| Corporation Tax |
27,656 |
|
0 |
| Accrued Expenses |
1,800 |
|
0 |
| Other Creditors |
0 |
|
1,985 |
| Directors' Current Accounts |
117,902 |
|
9,655 |
|
147,358 |
|
11,640 |
|
| 7. |
Creditors: amount falling due after more than one year
|
2025
£ |
|
2024
£ |
| Bank Loans & Overdrafts (secured) |
0 |
|
487,228 |
| Directors' Loan Accounts |
0 |
|
300,000 |
|
0 |
|
787,228 |
|
| 8. |
Share Capital
Allotted, called up and fully paid
|
2025
£ |
|
2024
£ |
|
2
Ordinary shares of £1.00 each |
2 |
|
2 |
|
2 |
|
2 |
|
|
Mr M & Mrs J Ward
| Particulars |
|
2025
£ |
|
2024
£ |
| Opening Balance |
|
(309,655) |
|
(305,032) |
| Advances to director |
|
303,102 |
|
(33,719) |
| Repayments by director |
|
(111,350) |
|
29,096 |
| Closing Balance |
|
(117,903) |
|
(309,655) |
The loan made by the directors includes a mortgage taken out on their residence and loaned to the company. The interest charged by the mortgage provider has been recharged to the Company at 4.45%, at cost. The remainder of the loan is interest free,
|
| 10. |
Prior year adjustment
In the prior year the property purchased for development and related costs were incorrectly presented as investment property instead of trading stock. The comparative figures and opening balances in the current year have been corrected. There was no effect on the profit for either year.
|
3
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