Company No: 12613805 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	28.02.2022		28.02.2021
		£		£
Fixed assets
Investment property	3	1,350,000		1,350,000
		1,350,000		1,350,000
Current assets
Debtors	4	100		100
		100		100
Creditors
Amounts falling due within one year	5	( 1,351,300)		( 1,350,500)
Net current liabilities		(1,351,200)		(1,350,400)
Total assets less current liabilities		(1,200)		(400)
Net liabilities		( 1,200)		( 400)
Capital and reserves
Called-up share capital	6	100		100
Profit and loss account		( 1,300 )		( 500 )
Total shareholder's deficit		( 1,200)		( 400)

For the financial year ending 28 February 2022 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 financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Joyner's Land and Properties Limited (registered number: 12613805) were approved and authorised for issue by the Board of Directors on 26 October 2022. They were signed on its behalf by:

Mr A Joyner Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Joyner's Land and Properties Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Forches Cross, Forches Cross Road, Newton Abbot, TQ12 6PZ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

No depreciation is provided in respect of investment properties applying the fair value model.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

	Year ended 28.02.2022		Period from 20.05.2020 to 28.02.2021
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Investment property

	Investment property
	£
Valuation
As at 01 March 2021	1,350,000
As at 28 February 2022	1,350,000

A valuation was carried out on 27 January 2021. The directors consider the fair value to have not changed in the current financial year.

4. Debtors

	28.02.2022		28.02.2021
	£		£
Other debtors	100		100

5. Creditors: amounts falling due within one year

	28.02.2022		28.02.2021
	£		£
Amounts owed to Group undertakings	218,533		150,000
Other creditors	1,132,767		1,200,500
	1,351,300		1,350,500

6. Called-up share capital

	28.02.2022		28.02.2021
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

7. Ultimate controlling party

The company's immediate parent is Joyner Holdings Limited, incorporated in England.

The most senior parent entity producing publicly available financial statements is Joyner Holdings Limited. These financial statements are available upon request from Companies House.