N J R Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02840539 (England and Wales)

N J R Properties Limited

Unaudited Financial Statements for the Year Ended 31 December 2020

Page

Statement of Financial Position

1

Notes to the Financial Statements

3

Fixed assets

Investment property

4

2,840,000

2,925,000

Current assets

Debtors

5

1,824,245

90,578

Cash at bank

48,788

17,263

1,873,033

107,841

Creditors

Amounts falling due within one year

6

1,772,361

1,789,908

Net current assets/(liabilities)

100,672

(1,682,067

)

Total assets less current liabilities

2,940,672

1,242,933

Creditors

Amounts falling due after more than one year

7

(1,785,000

)

-

Provisions for liabilities

(11,668

)

(18,018

)

Net assets

1,144,004

1,224,915

Capital and reserves

Called up share capital

1,000

1,000

Fair value reserve

563,030

641,680

Retained earnings

579,974

582,235

1,144,004

1,224,915

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 December 2020 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 24 December 2021 and were signed on its behalf by:

Mr D Robbins - Director

1.	Statutory information

N J R Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

02840539

Registered office:

The Lathe

Northbrook

Farnham

Surrey

GU10 5EU

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

The turnover shown in the financial statements represents rents receivable during the year.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 NIL (2019 - NIL).

4.	Investment property

Total

£

Fair value

At 1 January 2020

2,925,000

Impairments

(85,000

)

At 31 December 2020

2,840,000

Net book value

At 31 December 2020

2,840,000

At 31 December 2019

2,925,000

The directors have impaired the value of the investment property to £2,840,000 in December 2020, in line with the actual sales proceeds received in the following year. The historic cost was £2,265,302.

5.

Debtors: amounts falling due within one year

2020

2019

£

£

Trade debtors

543

1,504

Amounts owed by participating interests

1,779,865

-

Other debtors

43,837

89,074

1,824,245

90,578

6.

Creditors: amounts falling due within one year

2020

2019

£

£

Trade creditors

2,944

7,079

Amounts owed to participating interests

1,754,710

1,773,723

Taxation and social security

576

576

Other creditors

14,131

8,530

1,772,361

1,789,908

7.

Creditors: amounts falling due after more than one year

2020

2019

£

£

Bank loans

1,785,000

-

8.	Securities

There is a charge over the properties of the company in respect of any personal liabilities of the ultimate controlling party to the bank.