Joint Properties South Coast Limited

Registered number

05666451

Filleted Accounts

31 January 2026

Joint Properties South Coast Limited
Registered number:		05666451
Balance Sheet
as at 31 January 2026

Notes			2026			2025
£				£
Fixed assets
Tangible assets	3		220,000			200,000

Current assets
Debtors	4	246			236
Cash at bank and in hand		2,183			4,745
		2,429			4,981

Creditors: amounts falling due within one year	5	(29,889)			(29,768)

Net current liabilities			(27,460)			(24,787)

Total assets less current liabilities			192,540			175,213

Creditors: amounts falling due after more than one year	6		(94,978)			(94,977)



Net assets			97,562			80,236

Capital and reserves
Called up share capital			20			20
Fair value reserve -undistributable	8		113,167			89,337
Profit and loss account			(15,625)			(9,121)

Shareholders' funds			97,562			80,236

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




D Shepherd
Director
Approved by the board on 30 September 2026

Joint Properties South Coast Limited
Notes to the Accounts
for the year ended 31 January 2026


1	Accounting policies

	Basis of preparation
	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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rent of the property.

	Investment properties
	Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in value recognised in profit and loss. The methods and significant assumptions used to ascertain the fair value of £220,000 included in the profit and loss for the year, was valued by the directors with other similar properties in the same area taken into consideration given the estimated current market value.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

2	Employees	2026		2025
Number			Number

	Average number of persons employed by the company	2		2


3	Tangible fixed assets
				Land and buildings
£
	Cost
	At 1 February 2025			200,000
	Surplus on revaluation			20,000
	At 31 January 2026			220,000

	Depreciation
	At 31 January 2026			-

	Net book value
	At 31 January 2026			220,000
	At 31 January 2025			200,000


4	Debtors	2026		2025
£			£

	Other debtors	246		236


5	Creditors: amounts falling due within one year	2026		2025
£			£

	Other creditors	29,889		29,768


6	Creditors: amounts falling due after one year	2026		2025
£			£

	Bank loans	94,978		94,977


7	Loans	2026		2025
£			£
	Creditors include:
	Amounts payable otherwise than by instalment falling due for payment after more than five years	94,978		94,977


	Secured bank loans	94,978		94,977

	Mortgage Express and The Mortgage Works (UK) PLC hold mortgage charges on the property 20 Melville Road, Gosport, Hampshire, PO12 4QU dated October and September 2006 respectively.





8	Fair value reserve - undistributable reserves	2026		2025
£			£

	At 1 February 2025	89,337		89,337
	Gain on revaluation of land and buildings	20,000		-
	Deferred taxation arising on the revaluation of land and buildings	3,830		-

	At 31 January 2026	113,167		89,337



9	Related party transactions
	Mr W Shepherd and Mr D Shepherd
	(Directors)
	The directors continue to provide the company with a loan in the period. The loan was interest free, unsecured and repayable on demand. At the Balance Sheet date the balance due to the directors was £29,168 (2025 - £29,168).


10	Controlling party

	The company is under the control of the directors by virtue of their shareholdings. There is no ultimate controlling party.


11	Other information

	Joint Properties South Coast Limited is a private company limited by shares and incorporated in England. Its registered office is:
	32 Woodstock Road
	Gosport
	Hampshire
	PO12 1RS