REGISTERED NUMBER: 04604237 (England and Wales)

Unaudited Financial Statements

for the Year Ended 28 November 2024

for

JSP Estates Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J S Powell

SECRETARY:

J S Powell

REGISTERED OFFICE:

Airport House

Suite 43-45

Purley Way

Croydon

Surrey

CR0 0XZ

REGISTERED NUMBER:

04604237 (England and Wales)

ACCOUNTANTS:

Ledger Sparks Limited

Airport House

Suite 43-45

Purley Way

Croydon

CR0 0XZ

Fixed assets

Tangible assets

4

888

1,184

Investment property

5

1,857,838

1,898,232

1,858,726

1,899,416

Current assets

Debtors

6

135,560

104,850

Cash at bank

2,775

4,421

138,335

109,271

Creditors

Amounts falling due within one year

7

(19,869

)

(185,725

)

Net current assets/(liabilities)

118,466

(76,454

)

Total assets less current liabilities

1,977,192

1,822,962

Creditors

Amounts falling due after more than one year

8

(1,459,241

)

(1,318,093

)

Provisions for liabilities

9

(57,926

)

(57,975

)

Net assets

460,025

446,894

Capital and reserves

Called up share capital

40,000

40,000

Investment property reserve

10

281,645

-

Retained earnings

10

138,380

406,894

460,025

446,894

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 November 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 27 November 2025 and were signed by:

J S Powell - Director

1.	STATUTORY INFORMATION

JSP Estates Limited 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 (£).

The principal activity of the company continued to be that of rental of properties.

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 as modified by the revaluation of certain assets.

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover comprises revenue recognised by the Company in respect of rent receivable and other income from the letting and management of land and property owned by the Company during year.

TANGIBLE FIXED ASSETS

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment 25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

INVESTMENT PROPERTY

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Investment property comprises 4 Properties. The fair value of the investment property has been arrived at on the basis of a valuation carried out at 28.11.2024 by Directors. The valuation was made on an estimate by directors.

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

TAXATION

The tax expense represents the sum of the tax currently payable and deferred tax.

CURRENT TAX

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

DEFERRED TAX

Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date.

PENSION

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution pension plan for its employees. A defined contribution pension plan is a plan under which the Company pays fixed contributions into separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the company are held separately from the Company in an independently administered fund.

PROVISIONS FOR LIABILITIES

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Statement of comprehensive income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance sheet.

GOING CONCERN

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 29 November 2023

and 28 November 2024

4,445

DEPRECIATION

At 29 November 2023

3,261

Charge for year

296

At 28 November 2024

3,557

NET BOOK VALUE

At 28 November 2024

888

At 28 November 2023

1,184

5.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 29 November 2023

1,898,232

Additions

91,778

Disposals

(132,172

)

At 28 November 2024

1,857,838

NET BOOK VALUE

At 28 November 2024

1,857,838

At 28 November 2023

1,898,232

Investment property comprises of 4 properties. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties by directors. Deferred tax has been calculated on the revalued amounts and provided for within the financial statements.

Cost or valuation at 28 November 2024 is represented by:

£

Valuation in 2018

239,435

Valuation in 2019

99,999

Valuation in 2020

56,292

Valuation in 2021

63,005

Cost

1,399,107

1,857,838

The company has four investment properties. These properties consist of 72A Brigstock having valuation of £600,000, 4 Bensham having valuation of £751,000, 130 Spilsby Road Property having valuation of £325,307 and 39 Sleaford Road, Boston having valuation of £181,531. The fair value of the Investment property has been arrived at on the basis of a valuation carried out by the director at the balance sheet date based on their opinion of the open market value at that date. Deferred tax has been calculated on the revalued amounts and provided for within the financial statements.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed by associates

128,500

103,500

Other debtors

7,060

1,350

135,560

104,850

The directors consider the carrying value of trade and other receivables approximate to their fair values.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

17,871

19,726

Amounts owed to associates

-

13,441

Taxation and social security

346

729

Other creditors

1,652

151,829

19,869

185,725

The directors consider the carrying amounts of current liabilities approximate to their fair values.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

42,900

57,489

Other creditors

1,416,341

1,260,604

1,459,241

1,318,093

The directors consider the carrying amounts of long term liabilities approximate to their fair values.

Securities Provided for Long Term Loans as follows:-

1. Property at 72a Brigstock Road, Thornton Heath, Croydon

2. Property at 4 Bensham Manor Road, Thornton Heath, Croydon

3. Property at 130 Spilsby Road, Boston

4. Property at 39 Sleaford Road, Boston

9.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

57,926

57,975

Deferred

tax

£

Balance at 29 November 2023

57,975

Provided during year

(49

)

Balance at 28 November 2024

57,926

10.

RESERVES

Investment

Retained

property

earnings

reserve

Totals

£

£

£

At 29 November 2023

406,894

-

406,894

Profit for the year

13,131

13,131

Trf to/from Non-Distributable

(281,645

)

281,645

-

At 28 November 2024

138,380

281,645

420,025

PROFIT AND LOSS RESERVES

Retained earnings consist of fair value adjustments and deferred tax in relation to investment properties.

INVESTMENT PROPERTY RESERVES

The Company uses the revaluation model for the measurement of its investment properties. This reserve records the revaluation surplus recognised less the related provision for deferred tax. This is a non distributable reserve.

PROFIT AND LOSS ACCOUNT

The Profit and loss account comprises all current and prior period retained profits and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve.

11.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £903 (2023 - £1,048).

Contributions totalling £201 (2023 - £201) were payable to fund at the balance sheet date and are included in other creditors.

12.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 28 November 2024 and the period ended 28 November 2023:

2024

2023

£

£

J S Powell

Balance outstanding at start of year

(150,830

)

(56,320

)

Amounts advanced

268,949

122,976

Amounts repaid

(118,661

)

(217,486

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(542

)

(150,830

)

13.	RELATED PARTY DISCLOSURES

At the balance sheet date included in other creditors are amounts payable to the director, J Powell of £542 (2023 - £150,830) for short term and of £48,000 (2023 - £50,000) for long term. This loan is interest free and repayable on demand.

At the balance sheet date included in amounts owed by associates are amount due from Powell Estates Ltd of £98,500 (2023 - £103,500).

At the balance sheet date included in amounts owed by associates are amount due from Green & Tidy Ltd of £30,000 (2023 - £11,622 included in amounts owed to associates).

At the balance sheet date included in amounts owed by associates are amount due from SEC Estates Ltd of £75 (2023 - Nil). All the above companies are under the common control of J Powell.

At the balance sheet date included in other debtors are amount due from 18 Approach Road Service Charge of £4,985 (2023 - £1,819 included other creditors).