JPM Aggregates Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01903921 (England and Wales)

JPM AGGREGATES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P A Brennan

Mrs L M Childerley

Ms P J Marks

L R Marks

SECRETARY:

Mrs L M Childerley

REGISTERED OFFICE:

Highland House

Mayflower Close

Chandler's Ford

Eastleigh

Hampshire

SO53 4AR

REGISTERED NUMBER:

01903921 (England and Wales)

BANKERS:

Handelsbanken

3 Carlton Crescent

Southampton

Hampshire

SO15 2EY

FIXED ASSETS

Investment property

4

5,210,532

4,047,805

CURRENT ASSETS

Debtors

5

153,962

185,746

Cash at bank

384,537

159,563

538,499

345,309

CREDITORS

Amounts falling due within one year

6

(984,941

)

(743,607

)

NET CURRENT LIABILITIES

(446,442

)

(398,298

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,764,090

3,649,507

CREDITORS

Amounts falling due after more than one year

7

(107,456

)

(213,927

)

PROVISIONS FOR LIABILITIES

(351,000

)

(94,000

)

NET ASSETS

4,305,634

3,341,580

CAPITAL AND RESERVES

Called up share capital

19,010

19,010

Share premium

47,413

47,413

Capital redemption reserve

1,082

1,082

Retained earnings -

non-distributable

2,054,820

1,157,820

Retained earnings

2,183,309

2,116,255

SHAREHOLDERS' FUNDS

4,305,634

3,341,580

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 27 February 2022 and were signed on its behalf by:

P A Brennan - Director

1.	STATUTORY INFORMATION

JPM Aggregates Limited 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 FRS 102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies' regime.

The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Turnover

Turnover comprises rents receivable in respect of investment property, exclusive of value added tax.

Investment property

In accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', investment properties are carried at fair value and no depreciation is provided. Deferred tax is recognised to the extent that a charge would arise based upon the tax rates and allowances that would be applicable to the sale of the properties.

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.

Financial assets

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities

Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments

Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2020

4,047,805

Additions

8,727

Revaluations

1,154,000

At 30 September 2021

5,210,532

NET BOOK VALUE

At 30 September 2021

5,210,532

At 30 September 2020

4,047,805

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

1,550

26,486

Other debtors

152,412

159,260

153,962

185,746

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

107,456

35,115

Trade creditors

2,043

-

Taxation and social security

48,667

37,841

Other creditors

826,775

670,651

984,941

743,607

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

107,456

213,927

8.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Bank loans

214,912

249,042

The bank loans are secured on the company's investment properties.

9.	OTHER FINANCIAL COMMITMENTS

The company has entered into a lease commitment which includes contingent rents. The rents are calculated at £10,000 per annum, adjusted at five-yearly intervals for any increase in the rate of RPI inflation, plus 25% of the value of any consideration received or receivable by the company in respect of buildings which may be constructed on the property. The lease was entered into in June 2021 and runs for a term of 99 years.