JRV Properties Limited - Period Ending 2020-09-30
JRV Properties Limited - Period Ending 2020-09-30
Registration number:
JRV Properties Limited
for the Period from 5 September 2019 to 30 September 2020
JRV Properties Limited
(Registration number: 12190229)
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
JRV Properties Limited
(Registration number: 12190229)
Company Information
Directors |
J J Vince R Vince |
Registered office |
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Accountants |
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JRV Properties Limited
(Registration number: 12190229)
Balance Sheet as at 30 September 2020
Note |
2020 |
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Fixed assets |
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Investment property |
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current liabilities |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
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Net liabilities |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
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Total equity |
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For the financial period ending 30 September 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Director
JRV Properties Limited
(Registration number: 12190229)
Notes to the Unaudited Financial Statements for the Period from 5 September 2019 to 30 September 2020
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
England
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The directors have considered the impact of COVID-19 and do not consider it to have a material impact on the balances included within the financial statements.
In addition, the Directors do not consider it to cast any significant doubt upon the company's ability to continue to trade as a going concern.
The directors have taken both reactive and proactive measures in order to mitigate any risks associated with COVID-19 including managing cash flow to ensure that debts can be paid when they fall due, managing staffing levels and monitoring key customer and supplier activity.
The directors have implemented a robust system of procedures and controls in order to deal with any associated risks.
Disclosure of long or short period
JRV Properties Limited
(Registration number: 12190229)
Notes to the Unaudited Financial Statements for the Period from 5 September 2019 to 30 September 2020
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Investment property
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
JRV Properties Limited
(Registration number: 12190229)
Notes to the Unaudited Financial Statements for the Period from 5 September 2019 to 30 September 2020
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Investment properties |
2020 |
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Additions |
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At 30 September |
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There has been no valuation of investment property by an independent valuer.
JRV Properties Limited
(Registration number: 12190229)
Notes to the Unaudited Financial Statements for the Period from 5 September 2019 to 30 September 2020
Creditors |
2020 |
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Due within one year |
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Other creditors |
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Note |
2020 |
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Due after one year |
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Loans and borrowings |
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2020 |
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Due after more than five years |
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After more than five years not by instalments |
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JRV Properties Limited
(Registration number: 12190229)
Notes to the Unaudited Financial Statements for the Period from 5 September 2019 to 30 September 2020
Loans and borrowings |
2020 |
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Non-current loans and borrowings |
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Bank borrowings |
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Included in the loans and borrowings are the following amounts due after more than five years:
2020 |
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After more than five years not by instalments |
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