J&S Property Management Company Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02888591 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2019

FOR

J&S PROPERTY MANAGEMENT COMPANY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs S Hooper

SECRETARY:

J S Hooper

REGISTERED OFFICE:

c/o William Evans & Partners

20 Harcourt St

London

W1H 4HG

REGISTERED NUMBER:

02888591 (England and Wales)

ACCOUNTANTS:

William Evans & Partners

20 Harcourt Street

London

W1H 4HG

FIXED ASSETS

Tangible assets

4

-

96

Investment property

5

3,459,262

3,225,000

3,459,262

3,225,096

CURRENT ASSETS

Debtors

6

7,460

10,405

Cash at bank

235,319

336,361

242,779

346,766

CREDITORS

Amounts falling due within one year

7

103,335

33,541

NET CURRENT ASSETS

139,444

313,225

TOTAL ASSETS LESS CURRENT LIABILITIES

3,598,706

3,538,321

CREDITORS

Amounts falling due after more than one year

8

(250,370

)

(273,761

)

PROVISIONS FOR LIABILITIES

(312,542

)

(307,769

)

NET ASSETS

3,035,794

2,956,791

CAPITAL AND RESERVES

Called up share capital

10

2

2

Revaluation reserve

11

1,907,439

1,887,212

Retained earnings

11

1,128,353

1,069,577

SHAREHOLDERS' FUNDS

3,035,794

2,956,791

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 on 12 March 2020 and were signed by:

Mrs S Hooper - Director

1.	STATUTORY INFORMATION

J&S Property Management Company 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 (£).

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 represents rent receivable and recharges to tenants.

Tangible fixed assets

Depreciation is provided on a straight line basis in the cost of fixed assets. The rates used are considered to be

adequate in relation to the estimated operating lives of the assets concerned.

The depreciation rates used are:-

Furniture,Fittings and Equipment - 20%

Investment properties

Investment properties are measured at fair value at each reporting date with changes in fair value recognised in

the profit and loss account.

The method and significant assumptions used to ascertain the fair value at the balance sheet date and fair value

movement included in the profit and loss account are valued by the officers of the company.

Short leasehold interest properties acquired by the company during the year is not depreciated in accordance

with the remaining leasehold term of the leasehold interest acquired on the grounds that the company is currently

pursuing the purchase of freehold interest of this 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.

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 (2018 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2018

and 30 June 2019

26,103

DEPRECIATION

At 1 July 2018

26,007

Charge for year

96

At 30 June 2019

26,103

NET BOOK VALUE

At 30 June 2019

-

At 30 June 2018

96

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2018

3,225,000

Additions

209,262

Revaluations

25,000

At 30 June 2019

3,459,262

NET BOOK VALUE

At 30 June 2019

3,459,262

At 30 June 2018

3,225,000

Freehold and Leasehold properties are held for Investment purposes and are included at valuations determined

by the director. The historical cost of freehold and leasehold properties is £1,239,281.

Fair value at 30 June 2019 is represented by:

£

Valuation in 2015

2,094,981

Valuation in 2016

295,000

Valuation in 2017

(120,000

)

Valuation in 2018

(75,000

)

Valuation in 2019

25,000

Cost

1,239,281

3,459,262

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

-

1,340

Other debtors

7,460

9,065

7,460

10,405

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

7,634

7,407

Taxation and social security

13,758

10,756

Other creditors

81,943

15,378

103,335

33,541

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans

49,970

57,832

Other creditors

200,400

215,929

250,370

273,761

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

19,433

20,798

Other loans more 5yrs instal

139,269

140,276

158,702

161,074

9.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank loans

57,604

65,239

Other loans

215,683

231,060

273,287

296,299

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

2

Ordinary

£1

2

2

11.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 July 2018

1,069,577

1,887,212

2,956,789

Profit for the year

79,002

79,002

Revaluation for the period

-

1

1

Transfer from Revaluation

Reserve

(20,226

)

20,226

-

At 30 June 2019

1,128,353

1,907,439

3,035,792

12.	RELATED PARTY DISCLOSURES

Mr J S Hooper and Mrs S Hooper have not received dividends in their capacity as shareholders in the year. No

dividends were received in 2018.

13.	ULTIMATE CONTROLLING PARTY