J&S Property Management Company Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 02888591 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

J&S PROPERTY MANAGEMENT COMPANY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs S Hooper

SECRETARY:

J S Hooper

REGISTERED OFFICE:

c/o William Evans & Partners

20 Harcourt St

London

W1H 4HG

REGISTERED NUMBER:

02888591 (England and Wales)

ACCOUNTANTS:

William Evans & Partners

20 Harcourt Street

London

W1H 4HG

FIXED ASSETS

Tangible assets

4

-

-

Investment property

5

3,390,000

3,515,000

3,390,000

3,515,000

CURRENT ASSETS

Debtors

6

6,745

9,893

Cash at bank

409,311

332,528

416,056

342,421

CREDITORS

Amounts falling due within one year

7

55,220

59,669

NET CURRENT ASSETS

360,836

282,752

TOTAL ASSETS LESS CURRENT LIABILITIES

3,750,836

3,797,752

CREDITORS

Amounts falling due after more than one year

8

(119,279

)

(147,402

)

PROVISIONS FOR LIABILITIES

(323,130

)

(323,218

)

NET ASSETS

3,308,427

3,327,132

CAPITAL AND RESERVES

Called up share capital

10

2

2

Revaluation reserve

11

1,827,588

1,952,501

Retained earnings

11

1,480,837

1,374,629

SHAREHOLDERS' FUNDS

3,308,427

3,327,132

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director and authorised for issue on 18 March 2024 and were signed by:

Mrs S Hooper - Director

1.	STATUTORY INFORMATION

J&S Property Management Company 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 receivable and recharges to tenants.

Tangible fixed assets

Depreciation is provided on a straight line basis in the cost of fixed assets. The rates used are considered to be adequate in relation to the estimated operating lives of the assets concerned.

The depreciation rates used are:-

Furniture,Fittings and Equipment - 20%

Investment properties

Investment properties are measured at fair value at each reporting date with changes in fair value recognised in the profit and loss account.

The method and significant assumptions used to ascertain the fair value at the balance sheet date and fair value movement included in the profit and loss account are valued by the officers of the company.

Short leasehold interest properties acquired by the company during the year is not depreciated in accordance with the remaining leasehold term of the leasehold interest acquired on the grounds that the company is currently pursuing the purchase of freehold interest of this property.

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

Plant and

machinery

etc

£

COST

At 1 July 2022

and 30 June 2023

26,103

DEPRECIATION

At 1 July 2022

and 30 June 2023

26,103

NET BOOK VALUE

At 30 June 2023

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2022

3,515,000

Revaluations

(125,000

)

At 30 June 2023

3,390,000

NET BOOK VALUE

At 30 June 2023

3,390,000

At 30 June 2022

3,515,000

Freehold and Leasehold properties are held for Investment purposes and are included at valuations determined by the director. The historical cost of freehold and leasehold properties is £1,239,281.

Fair value at 30 June 2023 is represented by:

£

Valuation in 2015

2,094,981

Valuation in 2016

295,000

Valuation in 2017

(120,000

)

Valuation in 2018

(75,000

)

Valuation in 2019

25,000

Valuation in 2020

35,738

Valuation in 2021

75,000

Valuation in 2022

(55,000

)

Valuation in 2023

(125,000

)

Cost

1,239,281

3,390,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

(20

)

1,162

Other debtors

6,765

8,731

6,745

9,893

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

-

8,822

Taxation and social security

26,807

23,894

Other creditors

28,413

26,953

55,220

59,669

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

-

23,455

Other creditors

119,279

123,947

119,279

147,402

Amounts falling due in more than five years:

Repayable by instalments

Other loans more 5yrs instal

108,815

108,575

9.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Bank loans

-

32,277

Other loans

121,895

127,790

121,895

160,067

Bank & Other Loans are secured against the freehold and Leasehold Land and Buildings against which borrowings exist.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

2

Ordinary

£1

2

2

11.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 July 2022

1,374,629

1,952,501

3,327,130

Deficit for the year

(18,705

)

(18,705

)

Transfer from Revaluation

Reserve

124,913

(124,913

)

-

At 30 June 2023

1,480,837

1,827,588

3,308,425

12.	RELATED PARTY DISCLOSURES

Mr J S Hooper and Mrs S Hooper have not received dividends in their capacity as shareholders in the year. No dividends were received in 2023.

13.	ULTIMATE CONTROLLING PARTY

Mr J S Hooper and Mrs S Hooper has jointly controlled the company by virtue of holding 50 per cent each of the issued share capital.