Jego Properties Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 05170550 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2022

FOR

JEGO PROPERTIES LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr L E Manning FCCA

Mr A H Moody BA (Hons) FCCA

SECRETARY:

Mr A H Moody BA (Hons) FCCA

REGISTERED OFFICE:

Whitelands

Langford Road

Witham

Essex

CM8 3JG

REGISTERED NUMBER:

05170550 (England and Wales)

ACCOUNTANTS:

Raffingers LLP

Chartered Certified Accountants

19-20 Bourne Court

Southend Road

Woodford Green

Essex

IG8 8HD

FIXED ASSETS

Tangible assets

4

97

114

Investment property

5

290,000

290,000

290,097

290,114

CURRENT ASSETS

Cash at bank

12,583

7,732

CREDITORS

Amounts falling due within one year

2,073

1,636

NET CURRENT ASSETS

10,510

6,096

TOTAL ASSETS LESS CURRENT LIABILITIES

300,607

296,210

CREDITORS

Amounts falling due after more than one year

(150,230

)

(150,230

)

PROVISIONS FOR LIABILITIES

(26,906

)

(26,906

)

NET ASSETS

123,471

119,074

CAPITAL AND RESERVES

Called up share capital

2

2

Fair value reserve

114,704

114,704

Retained earnings

8,765

4,368

SHAREHOLDERS' FUNDS

123,471

119,074

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2022 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 November 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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 August 2023 and were signed on its behalf by:

Mr L E Manning FCCA - Director

Mr A H Moody BA (Hons) FCCA - Director

1.	STATUTORY INFORMATION

Jego Properties 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.

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

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 represents rent received.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Investment property

Investment properties are properties held to earn rentals and 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 profit or loss in the period in which they arise.

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.

Short term debtors and creditors

Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transactions costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1 December 2021

and 30 November 2022

1,811

DEPRECIATION

At 1 December 2021

1,697

Charge for year

17

At 30 November 2022

1,714

NET BOOK VALUE

At 30 November 2022

97

At 30 November 2021

114

Cost or valuation at 30 November 2022 is represented by:

Totals

£

Cost

1,811

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 December 2021

and 30 November 2022

290,000

NET BOOK VALUE

At 30 November 2022

290,000

At 30 November 2021

290,000

Fair value at 30 November 2022 is represented by:

£

Valuation in 2007

21,610

Valuation in 2008

(21,610

)

Valuation in 2014

51,610

Valuation in 2018

20,000

Valuation in 2021

70,000

Cost

148,390

290,000

If investment property had not been revalued it would have been included at the following historical cost:

2022

2021

£

£

Cost

148,390

148,390

Investment property was valued on an open market basis on 30 November 2022 by the directors .

6.	SECURED DEBTS

The following secured debts are included within creditors:

2022

2021

£

£

Mortgage

150,230

150,230

The mortgage is secured against the property owned by the company.

7.	RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed the directors £58 (2021 - £5).