JML Properties Limited - Abbreviated accounts 16.1

JML Properties Limited - Abbreviated accounts 16.1

JML PROPERTIES LIMITED - Company Information

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REGISTERED NUMBER: 03753200 (England and Wales)












Abbreviated Unaudited Accounts

for the Year Ended 31 December 2015

for

JML Properties Limited

JML Properties Limited (Registered number: 03753200)






Contents of the Abbreviated Accounts
for the Year Ended 31 December 2015




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

JML Properties Limited

Company Information
for the Year Ended 31 December 2015







DIRECTORS: P F Lovel
Mrs J M Lovel
Mrs H M Lovel
Mrs S Hodgson





SECRETARY: P F Lovel





REGISTERED OFFICE: 22 Molescroft Road
Beverley
East Yorkshire
HU17 7ED





REGISTERED NUMBER: 03753200 (England and Wales)





ACCOUNTANTS: Try Lunn & Co
Chartered Accountants
Roland House
Princes Dock Street
HULL HU1 2LD
Page 1
JML Properties Limited (Registered number: 03753200)

Abbreviated Balance Sheet
31 December 2015

2015 2014
Notes £    £    £    £   
FIXED ASSETS
Investment property 2 750,000 750,000

CURRENT ASSETS
Debtors 90,055 91,532
Cash at bank 1,391 2,821
91,446 94,353
CREDITORS
Amounts falling due within one year 3 370,238 10,426
NET CURRENT (LIABILITIES)/ASSETS (278,792 ) 83,927
TOTAL ASSETS LESS CURRENT
LIABILITIES
471,208
833,927

CREDITORS
Amounts falling due after more than one
year
3
82,550
451,017
NET ASSETS 388,658 382,910

CAPITAL AND RESERVES
Called up share capital 4 99 99
Revaluation reserve 385,363 385,363
Profit and loss account 3,196 (2,552 )
SHAREHOLDERS' FUNDS 388,658 382,910

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 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 notes form part of these abbreviated accounts

Page 2 continued...
JML Properties Limited (Registered number: 03753200)

Abbreviated Balance Sheet - continued
31 December 2015


The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the Board of Directors on 1 August 2016 and were signed on its behalf by:





P F Lovel - Director


The notes form part of these abbreviated accounts

Page 3
JML Properties Limited (Registered number: 03753200)

Notes to the Abbreviated Accounts
for the Year Ended 31 December 2015

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The company meets its working capital requirements via a number of loans. The company expects to operate
within the agreed loan facilities and therefore the financial statements have been prepared on this basis.

Accounting convention
The financial statements have been prepared under the historical cost convention as modified by the revaluation
of certain assets and in accordance with the Financial Reporting Standards for Smaller Entities (effective January
2015).

Turnover
Turnover represents rents receivable.

Investment property
In accordance with SSAP 19 investment properties have been revalued and included in the balance sheet at open
market value. The aggregate surplus is transferred to a revaluation reserve; no depreciation or amortisation is
provided. The directors consider that this accounting policy results in the accounts giving a true and fair view.
Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amounts,
which might other wise have been shown, are not considered to be material in the context of these accounts.

2. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 January 2015
and 31 December 2015 750,000
NET BOOK VALUE
At 31 December 2015 750,000
At 31 December 2014 750,000

3. CREDITORS

Creditors include an amount of £ 451,017 (2014 - £ 459,484 ) for which security has been given.

They also include the following debts falling due in more than five years:

2015 2014
£    £   
Repayable by instalments 48,683 57,150

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2015 2014
value: £    £   
99 Ordinary shares 1 99 99

5. ULTIMATE CONTROLLING PARTY

The company is controlled by P F Lovel, J Lovel and S Hodgson, the Directors and Shareholders.

Page 4