JSMB Properties Limited Filleted accounts for Companies House (small and micro)

JSMB Properties Limited Filleted accounts for Companies House (small and micro)

JSMB PROPERTIES LIMITED - Company Information

Print Friendly Version

0 false false false false false false false false false true false false false false false false No description of principal activity 2019-04-01 Sage Accounts Production Advanced 2020 - FRS102_2019 414,705 414,705 414,705 xbrli:pure xbrli:shares iso4217:GBP 10649890 2019-04-01 2020-03-31 10649890 2020-03-31 10649890 2019-03-31 10649890 bus:Director1 2019-04-01 2020-03-31 10649890 core:WithinOneYear 2020-03-31 10649890 core:ShareCapital 2020-03-31 10649890 core:ShareCapital 2019-03-31 10649890 core:RetainedEarningsAccumulatedLosses 2020-03-31 10649890 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2020-03-31 10649890 core:CostValuation core:Non-currentFinancialInstruments 2020-03-31 10649890 core:Non-currentFinancialInstruments 2020-03-31 10649890 bus:SmallEntities 2019-04-01 2020-03-31 10649890 bus:AuditExemptWithAccountantsReport 2019-04-01 2020-03-31 10649890 bus:FullAccounts 2019-04-01 2020-03-31 10649890 bus:SmallCompaniesRegimeForAccounts 2019-04-01 2020-03-31 10649890 bus:PrivateLimitedCompanyLtd 2019-04-01 2020-03-31
COMPANY REGISTRATION NUMBER: 10649890
JSMB Properties Limited
Filleted unaudited financial statements
31 March 2020
JSMB Properties Limited
Statement of financial position
31 March 2020
2020
2019
Note
£
£
£
Fixed assets
Investments
5
414,705
–
Current assets
Debtors
6
892
2
Cash at bank and in hand
2,633
–
------
----
3,525
2
Creditors: amounts falling due within one year
7
418,421
–
---------
----
Net current (liabilities)/assets
( 414,896)
2
---------
----
Total assets less current liabilities
( 191)
2
----
----
Net (liabilities)/assets
( 191)
2
----
----
Capital and reserves
Called up share capital
2
2
Profit and loss account
( 193)
–
----
----
Shareholders funds
( 191)
2
----
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 2 July 2020 , and are signed on behalf of the board by:
Mr J Bradley
Director
Company registration number: 10649890
JSMB Properties Limited
Notes to the financial statements
year ended 31 March 2020
1. General information
The principal activity of the company during the year was property investment. The company is a private company limited by shares, registered in England and Wales (no. 10649890 ). The address of the registered office is 12a Walsh Lane, Leeds, West Yorkshire, LS12 5EJ, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the date of the statement of financial position and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. Details of these judgements are set out in the accounting policies.
Turnover
The turnover shown in the profit and loss account represents rental income receivable during the year.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employees
The average number of persons employed by the company during the year, including the directors, amounted to 2(2019: 2).
5. Investments
Other investments other than loans
£
Cost
At 1 April 2019
–
Additions
414,705
---------
At 31 March 2020
414,705
---------
Impairment
At 1 April 2019 and 31 March 2020
–
---------
Carrying amount
At 31 March 2020
414,705
---------
At 31 March 2019
–
---------
6. Debtors
2020
2019
£
£
Other debtors
892
2
----
----
7. Creditors: amounts falling due within one year
2020
2019
£
£
Other creditors
418,421
–
---------
----