Judy Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00603334 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

Judy Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

W C Man

REGISTERED OFFICE:

The Old Grange

Warren Estate

Lordship Road

Writtle

Essex

CM1 3WT

REGISTERED NUMBER:

00603334 (England and Wales)

ACCOUNTANTS:

Fisher Michael Chartered Accountants

The Old Grange

Warren Estate

Lordship Road

Writtle

Essex

CM1 3WT

FIXED ASSETS

Tangible assets

4

8,415

5,847

Investments

5

251

251

Investment property

6

7,795,000

4,789,300

7,803,666

4,795,398

CURRENT ASSETS

Debtors

7

1,037,687

172,946

Cash at bank

144,160

122,780

1,181,847

295,726

CREDITORS

Amounts falling due within one year

8

189,723

168,533

NET CURRENT ASSETS

992,124

127,193

TOTAL ASSETS LESS CURRENT LIABILITIES

8,795,790

4,922,591

CREDITORS

Amounts falling due after more than one year

9

(800,000

)

-

PROVISIONS FOR LIABILITIES

(929,600

)

(138,000

)

NET ASSETS

7,066,190

4,784,591

CAPITAL AND RESERVES

Called up share capital

44,590

44,590

Share premium

24,866

24,866

Capital redemption reserve

116,436

116,436

Fair value reserve

5,990,083

4,219,683

Retained earnings

890,215

379,016

SHAREHOLDERS' FUNDS

7,066,190

4,784,591

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 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 8 March 2021 and were signed by:

W C Man - Director

1.	STATUTORY INFORMATION

Judy Properties 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 rents receivable from freehold properties owned by the company. Rents receivable are

recognised on an accruals basis.

Tangible fixed assets

Tangible fixed assets are initially measured at cost. After initial recognition, tangible fixed assets are measured at

cost less any accumulated depreciation and any accumulated impairment losses.

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

- Plant and machinery etc - 15% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Investment properties

The investment properties are included at fair value. Gains are recognised in the income statement and subsequently

transferred to the fair value reserve. Deferred taxation is provided on these gains at the rate expected to apply when

the properties are sold.

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.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term creditors are measured at the transaction price.

Significant judgements and estimates

No significant judgements or estimations have been applied in the preparation of the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2019

7,986

Additions

3,798

At 31 March 2020

11,784

DEPRECIATION

At 1 April 2019

2,139

Charge for year

1,230

At 31 March 2020

3,369

NET BOOK VALUE

At 31 March 2020

8,415

At 31 March 2019

5,847

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2019

and 31 March 2020

1,203,435

PROVISIONS

At 1 April 2019

and 31 March 2020

1,203,184

NET BOOK VALUE

At 31 March 2020

251

At 31 March 2019

251

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2019

5,095,000

Revaluations

2,700,000

At 31 March 2020

7,795,000

DEPRECIATION

At 1 April 2019

305,700

Charge for year

(305,700

)

At 31 March 2020

-

NET BOOK VALUE

At 31 March 2020

7,795,000

At 31 March 2019

4,789,300

Fair value at 31 March 2020 is represented by:

£

Valuation in 2010

2,955,252

Valuation in 2015

1,264,431

Valuation in 2020

2,700,000

Cost

875,317

7,795,000

If the investment properties had not been revalued they would have been included at the following historical cost:

2020

2019

£

£

Cost

875,317

875,317

The investment properties were valued on an open market basis basis on 6 April 2019 by Strettons Limited .

The director considers that the valuation at the balance sheet date is not materially different to the valuation at 6

April 2019.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Rental debtors

174,747

110,453

Amounts owed by related parties

36,233

36,233

Other debtors

826,707

26,260

1,037,687

172,946

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Amounts owed to related parties

907

907

Taxation

68,472

48,500

Other creditors

120,344

119,126

189,723

168,533

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans

800,000

-

10.	RELATED PARTY DISCLOSURES

During the year, the company advanced £800,000 to Mrs B L Man. This was repaid within nine months of the year

end.

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party during the year was Mrs B L Man.