J Squared Property Limited - Accounts to registrar (filleted) - small 23.2.5

J Squared Property Limited

Unaudited Financial Statements

for the Year Ended

31 March 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs J E Dyke

J R Tarzey

REGISTERED OFFICE:

91 Lakewood Road

Chandlers Ford

Eastleigh

Hampshire

SO53 5AD

REGISTERED NUMBER:

11891757 (England and Wales)

ACCOUNTANTS:

David Tilsley Limited

91 Lakewood Road

Chandlers Ford

Eastleigh

Hampshire

SO53 5AD

FIXED ASSETS

Tangible assets

4

565,576

-

CURRENT ASSETS

Stocks

1,622,442

1,419,150

Debtors

5

15,855

2,025

Cash at bank

21,035

1,364,811

1,659,332

2,785,986

CREDITORS

Amounts falling due within one year

6

2,174,165

2,707,612

NET CURRENT (LIABILITIES)/ASSETS

(514,833

)

78,374

TOTAL ASSETS LESS CURRENT LIABILITIES

50,743

78,374

CREDITORS

Amounts falling due after more than one year

7

4,802

-

NET ASSETS

45,941

78,374

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

45,841

78,274

SHAREHOLDERS' FUNDS

45,941

78,374

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 30 November 2023 and were signed on its behalf by:

Mrs J E Dyke - Director

1.	STATUTORY INFORMATION

J Squared Property 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 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.

Land and buildings

-

not provided

The freehold property is not depreciated on the basis that it will be well maintained and subject to impairment reviews by the directors as deemed necessary.

Stocks

Stocks represent the total of costs accumulated on development properties in progress at the balance sheet date.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

Additions

565,576

At 31 March 2023

565,576

NET BOOK VALUE

At 31 March 2023

565,576

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Other debtors

15,855

2,025

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade creditors

100,079

155

Amounts owed to participating interests

611,950

1,164,950

Taxation and social security

-

17,845

Other creditors

1,462,136

1,524,662

2,174,165

2,707,612

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.23

31.3.22

£

£

Other creditors

4,802

-