Jada Properties Limited
Jada Properties Limited
Registered number: 11799346
Unaudited Financial Statements
For The Year Ended
31 March 2022
Jada Properties Limited
Unaudited Financial Statements
For The Year Ended
31 March 2022
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—4 |
Jada Properties Limited
Balance Sheet
As at
31 March 2022
Balance Sheet
Registered number:
11799346
For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
| 2022 | 2021 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 3 |
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| CURRENT ASSETS | |||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 5 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 6 |
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| PROVISIONS FOR LIABILITIES | |||||
| Deferred Taxation |
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| NET ASSETS/(LIABILITIES) |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 7 |
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| Fair Value Reserve | 8 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 74,613 | (15,341) | |||
Jada Properties Limited
Balance Sheet (continued)
As at
31 March 2022
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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Director
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The notes on pages 3 to 4 form part of these financial statements.
Jada Properties Limited
Notes to the Financial Statements
For The Year Ended
31 March 2022
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Tuover represents amounts recievable for rent and is measured at the fair value of the consideration received or recievable. Rental income is recognised in the period to which it relates.
1.3.
Investment Properties
All investment properties, which are properties held to earn rentals and/or for capital appreciation, is initially recognised at cost. Subsequently they are measured at fair value as at the reporting end date derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
1.4.
Taxation
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 2 (2021: 2)
3.
Tangible Assets
| Investment Properties | |
|---|---|
| £ | |
| Cost or Valuation | |
| As at
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| Revaluation | 123,782 |
| As at
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| Net Book Value | |
| As at
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| As at
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The historic cost of the investment properties is £556,218.
The fair value of the investment properties has been arrived as on the basis of a valuation carried out by the directors. The valuation was made on an open market basis by reference to market evidence of transaction prices for similar properties. As at 31 March 2022 the properties were valued at £680,000.
Jada Properties Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2022
4.
Debtors
| 2022 | 2021 | ||
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| £ | £ | ||
| Due within one year | |||
| Other debtors |
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5.
Creditors: Amounts Falling Due Within One Year
| 2022 | 2021 | ||
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| £ | £ | ||
| Bank loans and overdrafts |
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| Other creditors |
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| Directors' loan accounts |
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6.
Creditors: Amounts Falling Due After More Than One Year
| 2022 | 2021 | ||
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| £ | £ | ||
| Bank loans |
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8.
Reserves
| Fair Value Reserve | |
|---|---|
| £ | |
| Movements in fair value reserve | 100,263 |
| As at
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9.
Related Party Transactions
At the end of the period £51,885 (2021: £24,374), included within other creditors, is due to TMP Horizon Ltd, a company which is controlled by James Marklew, Director and Shareholder of Jada Properties Limited. No interest is charge on this balance.
Also included in other creditors is £55,000 owed to Cicero Holdings Ltd, a company which is controlled by Daniel Whebell, Director and Shareholder of Jada Properties Limited. No interest is charge on this balance.
Included within other debtors is £11,459 (2021: £8,316 due from Jada Property Investments Limited, a company owned and controlled by James Marklew and Daniel Whebell. No interest is charged on this balance
10.
General Information
Jada Properties Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
11799346
. The registered office is 54C Balham Park Road, Balham, London, SW12 8DU.