G. I. Jo Properties Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10396684 (England and Wales)

G. I. JO PROPERTIES LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr C Petinou

Mr A M Kounnis

REGISTERED OFFICE:

Sterling House

Fulbourne Road

Walthamstow

London

E17 4EE

REGISTERED NUMBER:

10396684 (England and Wales)

ACCOUNTANTS:

Kounnis And Partners Ltd

Chartered Certified Accountants

Sterling House

Fulbourne Road

Walthamstow

London

E17 4EE

FIXED ASSETS

Investment property

4

1,803,037

1,112,504

CURRENT ASSETS

Debtors

5

2,729

2,175

Cash at bank and in hand

15,060

33,258

17,789

35,433

CREDITORS

Amounts falling due within one year

6

(385,907

)

(669,010

)

NET CURRENT LIABILITIES

(368,118

)

(633,577

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,434,919

478,927

CREDITORS

Amounts falling due after more than one year

7

(1,142,751

)

(463,000

)

PROVISIONS FOR LIABILITIES

(54,116

)

-

NET ASSETS

238,052

15,927

CAPITAL AND RESERVES

Called up share capital

120

120

Revaluation reserve

8

230,703

-

Retained earnings

7,229

15,807

SHAREHOLDERS' FUNDS

238,052

15,927

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 2 March 2022 and were signed on its behalf by:

Mr A M Kounnis - Director

1.	STATUTORY INFORMATION

G. I. Jo Properties Ltd 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2020

1,112,504

Additions

405,714

Revaluations

284,819

At 30 September 2021

1,803,037

NET BOOK VALUE

At 30 September 2021

1,803,037

At 30 September 2020

1,112,504

Fair value at 30 September 2021 is represented by:

£

Valuation in 2021

284,819

Cost

1,518,218

1,803,037

If Investment property had not been revalued they would have been included at the following historical cost:

30.9.21

30.9.20

£

£

Cost

1,518,218

1,112,504

Investment property were valued on an open market basis on 30 September 2021 by The Directors .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.21

30.9.20

£

£

Other debtors

2,729

2,175

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.21

30.9.20

£

£

Bank loans and overdrafts

-

262,500

Trade creditors

-

20,018

Taxation and social security

-

3,507

Other creditors

385,907

382,985

385,907

669,010

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.21

30.9.20

£

£

Bank loans

1,142,751

463,000

8.

RESERVES

Revaluation

reserve

£

Transfer on revaluation

230,703

At 30 September 2021

230,703

9.	ULTIMATE CONTROLLING PARTY

Due to the share structure, there is no overall control by any single party.