JBPG Developments Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08236480 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2021

for

JBPG Developments Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R Clark

T Sheppard

J R Clark

J N Clark

SECRETARY:

Ledger Sparks Ltd

REGISTERED OFFICE:

Airport House

Suite 43-45

Purley Way

Croydon

Surrey

CR0 0XZ

REGISTERED NUMBER:

08236480 (England and Wales)

ACCOUNTANTS:

Ledger Sparks Limited

Airport House

Suite 43-45

Purley Way

Croydon

CR0 0XZ

FIXED ASSETS

Tangible assets

4

1,061,216

1,001,216

Investments

5

100

100

1,061,316

1,001,316

CURRENT ASSETS

Debtors

6

574

574

Cash at bank

5,828

11,713

6,402

12,287

CREDITORS

Amounts falling due within one year

7

(747,532

)

(734,138

)

NET CURRENT LIABILITIES

(741,130

)

(721,851

)

TOTAL ASSETS LESS CURRENT LIABILITIES

320,186

279,465

CREDITORS

Amounts falling due after more than one year

8

(42,094

)

-

NET ASSETS

278,092

279,465

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

277,992

279,365

278,092

279,465

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 March 2022 and were signed on its behalf by:

J R Clark - Director

1.	STATUTORY INFORMATION

JBPG Developments 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.

The presentation currency of the financial statements is the Pound Sterling (£).

The principal activity of the company continued to be that of property development.

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.

TURNOVER

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

TANGIBLE FIXED ASSETS

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold property - Nil

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

GOVERNMENT GRANTS

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.

INVESTMENTS IN SUBSIDIARIES

Investments in subsidiary undertakings are recognised at cost.

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

FINANCIAL INSTRUMENTS

The company only enters into basic financial instrument transactions that results in the recognition of financial asset and liability such as trade and other debtors and creditors, loan from bank and other third parties, loan to related parties and investments in non puttable ordinary shares.

TAXATION

The tax expense represents the sum of the tax currently payable and deferred tax.

CURRENT YEAR

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

DEFERRED TAX

Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date.

GOING CONCERN

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

PROVISION FOR LIABILITIES

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Statement of income and retained earning in the year that the company becomes aware of the obligation, and are measured at the best estimates at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance sheet.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2020 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Leasehold

property

property

Totals

£

£

£

COST

At 1 April 2020

1,001,216

-

1,001,216

Additions

60,000

-

60,000

Reclassification/transfer

(1,061,216

)

1,061,216

-

At 31 March 2021

-

1,061,216

1,061,216

NET BOOK VALUE

At 31 March 2021

-

1,061,216

1,061,216

At 31 March 2020

1,001,216

-

1,001,216

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2020

and 31 March 2021

100

NET BOOK VALUE

At 31 March 2021

100

At 31 March 2020

100

The company's investments at the Balance Sheet date in the share capital of companies include the following:

JBPG Ltd.

Registered office: Airport House, Suite 43-45, Purley Way, Croydon, Surrey, United Kingdom, CR0 0XZ

Nature of business: Leasing of Property

%

Class of shares:

holding

Ordinary

100.00

2021

2020

£

£

Aggregate capital and reserves

(5,558

)

(7,554

)

Profit for the year

1,996

10,375

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Other debtors

574

574

The directors consider the carrying value of trade and other receivables approximate to their fair value.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

7,906

-

Trade creditors

2,978

-

Other creditors

736,648

734,138

747,532

734,138

The directors consider the carrying amounts of current liabilities approximate to their fair values.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

42,094

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans- more than 5 years

1,769

-

The directors consider the carrying amounts of long term liabilities approximate to their fair values.

9.	RELATED PARTY DISCLOSURES

At the balance sheet date, included in other creditors £44,163 (2020 - £43,863) are the amount due to the directors of the company.

At the balance sheet date, amounts are payable to subsidiary company - JBPG Limited of £690,961 (2020 - £687,145).

10.	EVENTS DURING THE REPORTING PERIOD

The Coronavirus (COVID-19) has emerged globally resulting in a significant impact on businesses worldwide and the UK government continued to impose restrictions in 2021. As a result some business operations have been restricted, however the company continues to operate using alternative methods and remote working. Hence financial statements do not include any adjustments that might result from the outcome of this uncertainty. The directors are continuing to monitor, assess and act to the current changing environment in order to position the company to ensure its future success.