JLSPG Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08936719 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2020

for

JLSPG Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs J Spencer

Mr P Godber

REGISTERED OFFICE:

14 Beaulieu Gardens

West Bridgford

Nottingham

Nottinghamshire

NG2 7TL

REGISTERED NUMBER:

08936719 (England and Wales)

ACCOUNTANTS:

Cobb Burgin

Chartered Accountants

129a Middleton Boulevard

Wollaton Park

Nottingham

NG8 1FW

FIXED ASSETS

Tangible assets

4

1,576

1,210

Investment property

5

550,000

538,259

551,576

539,469

CURRENT ASSETS

Debtors

6

-

8,351

Cash at bank

10,699

20,908

10,699

29,259

CREDITORS

Amounts falling due within one year

7

380,611

418,350

NET CURRENT LIABILITIES

(369,912

)

(389,091

)

TOTAL ASSETS LESS CURRENT LIABILITIES

181,664

150,378

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

8

9,341

-

Retained earnings

172,223

150,278

181,664

150,378

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 19 June 2020 and were signed on its behalf by:

Mrs J Spencer - Director

Mr P Godber - Director

1.	STATUTORY INFORMATION

JLSPG Ltd 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.

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 the value of rents receivable during the period.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from

changes in fair value is recognised in profit or loss.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are

recorded at transaction price. Any losses arising from impairment are recognised in the income

statement.

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 NIL (2019 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2019

1,614

Additions

466

At 31 March 2020

2,080

DEPRECIATION

At 1 April 2019

404

Charge for year

100

At 31 March 2020

504

NET BOOK VALUE

At 31 March 2020

1,576

At 31 March 2019

1,210

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2019

538,259

Additions

2,400

Revaluations

9,341

At 31 March 2020

550,000

NET BOOK VALUE

At 31 March 2020

550,000

At 31 March 2019

538,259

The investment properties were valued on a fair value basis on 31 March 2020 by the director from

information available.

Fair value at 31 March 2020 is represented by:

£

Valuation in 2020

9,341

Cost

540,659

550,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

-

5,575

Prepayments and accrued income

-

2,776

-

8,351

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Tax

5,079

7,559

Directors' current accounts

371,971

407,971

Accruals and deferred income

3,561

2,820

380,611

418,350

8.

RESERVES

Revaluation

reserve

£

Bonus share issue

9,341

At 31 March 2020

9,341

9.	RELATED PARTY DISCLOSURES