JC Property Developments Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 08127899 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

JC PROPERTY DEVELOPMENTS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

8

DIRECTORS:

J.A. Allen

C.J. Burrows

REGISTERED OFFICE:

79 Bedford Road

Wootton

Bedford

Bedfordshire

MK43 9JB

REGISTERED NUMBER:

08127899 (England and Wales)

ACCOUNTANTS:

Longstaff, Gentle & Co

61 Harpur Street

Bedford

Bedfordshire

MK40 2SR

FIXED ASSETS

Tangible assets

4

76,414

29,724

CURRENT ASSETS

Stocks

27,107

19,613

Debtors

5

19,212

15,411

Cash at bank

15,332

-

61,651

35,024

CREDITORS

Amounts falling due within one year

6

50,366

32,609

NET CURRENT ASSETS

11,285

2,415

TOTAL ASSETS LESS CURRENT LIABILITIES

87,699

32,139

CREDITORS

Amounts falling due after more than one year

7

(65,636

)

(23,154

)

PROVISIONS FOR LIABILITIES

(12,930

)

(5,648

)

NET ASSETS

9,133

3,337

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

9,131

3,335

SHAREHOLDERS' FUNDS

9,133

3,337

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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 26 October 2023 and were signed on its behalf by:

J.A. Allen - Director

1.	STATUTORY INFORMATION

JC Property 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance, 15% on reducing balance and Straight line over 3 years

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2022

48,703

Additions

65,795

Disposals

(20,408

)

At 31 January 2023

94,090

DEPRECIATION

At 1 February 2022

18,979

Charge for year

8,343

Eliminated on disposal

(9,646

)

At 31 January 2023

17,676

NET BOOK VALUE

At 31 January 2023

76,414

At 31 January 2022

29,724

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 February 2022

20,408

Additions

65,445

Disposals

(20,408

)

At 31 January 2023

65,445

DEPRECIATION

At 1 February 2022

9,646

Charge for year

5,454

Eliminated on disposal

(9,646

)

At 31 January 2023

5,454

NET BOOK VALUE

At 31 January 2023

59,991

At 31 January 2022

10,762

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.23

31.1.22

£

£

Trade debtors

6,667

-

Other debtors

12,545

15,411

19,212

15,411

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.23

31.1.22

£

£

Bank loans and overdrafts

6,000

7,699

Hire purchase contracts

9,672

3,185

Trade creditors

10,973

1,321

Taxation and social security

22,703

19,714

Other creditors

1,018

690

50,366

32,609

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.23

31.1.22

£

£

Bank loans

14,500

20,500

Hire purchase contracts

51,136

2,654

65,636

23,154

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 January 2023 set out on pages three to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Longstaff, Gentle & Co

61 Harpur Street

Bedford

Bedfordshire

MK40 2SR

26 October 2023