Jam Property Investments Limited - Filleted accounts

JAM PROPERTY INVESTMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 SEPTEMBER 2022

Company Registration Number: 11300317

JAM PROPERTY INVESTMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
CONTENTS									PAGES
Company information									1
Balance sheet									2 to 3
Notes to the financial statements									4 to 7

JAM PROPERTY INVESTMENTS LIMITED
COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2022
DIRECTORS
P D Basham
M D Smith
SECRETARY
The company does not have an appointed secretary
REGISTERED OFFICE
Cranbrook House
287-291 Banbury Road
Oxford
OX2 7JQ
COMPANY REGISTRATION NUMBER
11300317 England and Wales

JAM PROPERTY INVESTMENTS LIMITED
BALANCE SHEET
AS AT 30 SEPTEMBER 2022
			Notes		2022				2021
					£				£
FIXED ASSETS
Investments			5				650,000				650,000
CURRENT ASSETS
Cash at bank and in hand					16,371				20,695
CREDITORS: Amounts falling due
within one year			6		183,610				182,434
NET CURRENT LIABILITIES							(167,239)				(161,739)
TOTAL ASSETS LESS CURRENT LIABILITIES							482,761				488,261
CREDITORS: Amounts falling due
after more than one year			7				201,835				232,204
Provisions for liabilities and charges							48,041				36,511
NET ASSETS							232,885				219,546
CAPITAL AND RESERVES
Called up share capital							100				100
Distributable profit and loss account							88,661				63,792
Non distributable profit and loss account							144,124				155,654
SHAREHOLDERS' FUNDS							232,885				219,546

JAM PROPERTY INVESTMENTS LIMITED
BALANCE SHEET
AS AT 30 SEPTEMBER 2022
These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
For the financial year ended 30 September 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.
Signed on behalf of the board of directors
P D Basham
Director
Date approved by the board: 29 June 2023

JAM PROPERTY INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
1	GENERAL INFORMATION
	Jam Property Investments Limited is a private company limited by shares and incorporated in England and Wales. Its registered office and principal place of business are:
	Registered office				Principal place of business
	Cranbrook House				The Bothy
	287-291 Banbury Road				Cams Hall Estate
	Oxford				Fareham
	OX2 7JQ				Hampshire
					PO16 8UT
	The financial statements are presented in Sterling, which is the functional currency of the company.
2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Basis of preparation of financial statements
	These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
	Revenue recognition

	Turnover represents rent receivable. Turnover is stated net of trade discounts and value added tax.
	The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.

	Investment properties

	Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs.
	Subsequently, investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in the profit and loss account in the period in which they arise.

JAM PROPERTY INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022

2	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
	Financial Instruments
	The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
	Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.

The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

	Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
	Debtors

	Short term debtors are measured at transaction price, less any impairment.

	Creditors
	Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.
	Taxation
	Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 taxable profits.
	Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
	Deferred tax relating to land and investment properties that is measured at fair value is measured using the tax rates and allowances that apply to the sale of the asset.

	Current and deferred tax assets and liabilities are not discounted.

JAM PROPERTY INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
3	CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS

	The directors have made key assumptions in determination of the fair value of an investment property in respect of the state of the property market in the location where the property is situated and in respect of the range of reasonable fair value estimates of the asset.

4	EMPLOYEES
	The average number of persons employed by the company (including directors) during the year was:
									2022		2021
	Average number of employees								2		2
5	FIXED ASSET INVESTMENTS
											Investment property
											£
	Cost
	At 1 October 2021										650,000
	At 30 September 2022										650,000
	Net book value
	At 1 October 2021										650,000
	At 30 September 2022										650,000
	In the opinion of the directors, the investment property has been stated at fair value.
6	CREDITORS: Amounts falling due within one year
									2022		2021
									£		£
	Bank loans and overdrafts								31,060		29,545
	Trade creditors								-		491
	Taxation and social security								7,338		7,286
	Accruals and deferred income								2,037		1,937
	Other creditors								143,175		143,175
									183,610		182,434

JAM PROPERTY INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
7	CREDITORS: Amounts falling due after more than one year
									2022		2021
									£		£
	Bank loans and overdrafts								201,835		232,204
8	SECURED DEBTS
	The company's bankers hold fixed and floating charges dated 3 October 2018 and 25 October 2018 over all of the property of the company.