J & D Properties Limited - Period Ending 2023-03-31
J & D Properties Limited - Period Ending 2023-03-31
Registration number:
J & D Properties Limited
for the Year Ended 31 March 2023
J & D Properties Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
J & D Properties Limited
Company Information
Directors |
Mr John Howard Perry Mr Nicholas John Perry Mr Simon Christopher Perry Mr David John Graves |
Company secretary |
Mr John Howard Perry |
Registered office |
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Accountants |
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J & D Properties Limited
(Registration number: 03565099)
Balance Sheet as at 31 March 2023
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2023 |
2022 |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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J & D Properties Limited
(Registration number: 03565099)
Balance Sheet as at 31 March 2023
For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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J & D Properties Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
England
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of land and property in the ordinary course of the company’s activities. Turnover is shown net of value added
tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
J & D Properties Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives.
Stocks
Work in progress is valued at the lower of cost and net realisable value. Net realisable value is based on selling price less estimated costs of completion and selling costs. Costs include all direct costs and an appropriate proportion of fixed and variable overheads.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Stocks |
2023 |
2022 |
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Work in progress |
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J & D Properties Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
Debtors |
Current |
2023 |
2022 |
Prepayments |
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Other debtors |
600 |
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Four Winds Farm |
238,927 |
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Accrued income - Panfile Ltd |
59,852 |
59,851 |
VAT Control account |
1,921 |
1,552 |
Directors Loan Account |
420,701 |
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Accrued Income |
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Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
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Due within one year |
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Bank loans and overdrafts |
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Trade creditors |
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Panfile Limited |
948,503 |
2,656,417 |
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Four Winds Farm |
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413 |
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Panfile Ltd - Interest |
121,907 |
100,183 |
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Accruals |
3,565 |
3,500 |
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Corporation tax |
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Other creditors |
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Deferred income |
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Loans and borrowings |
2023 |
2022 |
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Current loans and borrowings |
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Bank borrowings |
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J & D Properties Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
Related party transactions |
Transactions with directors |
2023 |
At 1 April 2022 |
Advances to director |
At 31 March 2023 |
Mr David John Graves |
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Directors loan account. Interest is charged at a rate of 2.49% and is repayable on demand. |
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Summary of transactions with other related parties
J H Perry, N J Perry, S C Perry and D J Graves, directors of this company are also directors in Panfile Limited. Panfile incurred costs on behalf of J&D Properties, at the year-end a creditor balance of £948,503 (2022 - £2,656,417). Interest is accruing on this loan at market rate and at the year-end, interest of £121,907 (2022 - £100,183) has accrued. In addition, money has been loaned from J & D Properties Limited to Panfile Limited. Interest on this loan accrued at market rate and at the year-end the amount due to J & D Properties Limited was £59,852 (2022 - £59,852).