JM Property 5 Limited - Accounts to registrar (filleted) - small 18.2
JM Property 5 Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 April 2017 to 31 December 2017 |
for |
JM Property 5 Limited |
JM Property 5 Limited (Registered number: 08141265) |
Contents of the Financial Statements |
for the Period 1 April 2017 to 31 December 2017 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
JM Property 5 Limited |
Company Information |
for the Period 1 April 2017 to 31 December 2017 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
3 Charnwood Street |
Derby |
Derbyshire |
DE1 2GY |
JM Property 5 Limited (Registered number: 08141265) |
Abridged Balance Sheet |
31 December 2017 |
2017 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 3 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 4 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 5 |
Fair value reserve | 6 |
Retained earnings | 6 | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
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 on |
JM Property 5 Limited (Registered number: 08141265) |
Notes to the Financial Statements |
for the Period 1 April 2017 to 31 December 2017 |
1. | STATUTORY INFORMATION |
JM Property 5 Limited is a |
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 |
First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A |
These financial statements for the period ended 31 December 2017 are the first that are prepared in accordance |
with FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the |
date of transition to FRS 102 Section 1A is 1 April 2016. |
Turnover |
Turnover is measured at the fair value of the rents received or receivable, excluding discounts, rebates, value |
added tax and other sales taxes. |
Investment property |
In accordance with Financial Reporting Standard 102 (FRS 102), investment properties are revalued and the |
surplus or deficit is transferred to the profit and loss account, and no depreciation is provided in respect of |
freehold investment properties. The requirement of the Companies Act 2006 is to depreciate all properties, but |
that requirement conflicts with the generally accepted accounting principle set out in FRS 102. The director |
considers that to depreciate such properties would not give a true and fair view, but that a true and fair view is |
given by following FRS 102 as described above. The effect of this departure from the Companies Act 2006 has |
not been quantified because it is impracticable and, in the opinion of the director, would be misleading. |
Taxation |
Taxation for the period 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 period 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. |
Financial liabilities |
Short term creditors are measured at transaction price. Other financial liabilities, including loans from group |
companies are measured initially at fair value, net of transaction cost and are measured subsequently at |
amortised cost using the effective interest method, less any impairment. |
Financial assets |
Short term debtors are measured at transaction price, less any impairment. Other financial assets, including |
loans to group companies are measured initially at fair value, net of transactions cost and are subsequently |
measured at amortised cost using the effective interest method, less any impairment. |
JM Property 5 Limited (Registered number: 08141265) |
Notes to the Financial Statements - continued |
for the Period 1 April 2017 to 31 December 2017 |
3. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2017 |
and 31 December 2017 |
NET BOOK VALUE |
At 31 December 2017 |
At 31 March 2017 |
Fair value at 31 December 2017 is represented by: |
£ |
Valuation in 2017 | 675,000 |
If investment property had not been revalued it would have been included at the following historical cost: |
2017 | 2017 |
£ | £ |
Cost | 421,861 | 421,861 |
4. | PROVISIONS FOR LIABILITIES |
2017 | 2017 |
£ | £ |
Deferred tax | 39,440 | 45,228 |
Deferred |
tax |
£ |
Balance at 1 April 2017 |
Provided during period | ( |
) |
Balance at 31 December 2017 |
5. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2017 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
6. | RESERVES |
Fair |
Retained | value |
earnings | reserve | Totals |
£ | £ | £ |
At 1 April 2017 | ( |
) | 205,256 |
Profit for the period |
Deferred tax transfer | (5,788 | ) | 5,788 | - |
At 31 December 2017 | ( |
) | 211,044 |
7. | CONTINGENT LIABILITIES |
There are fixed and floating charges over the company's assets. The debt in relation to this security is held in the |
parent company. |
JM Property 5 Limited (Registered number: 08141265) |
Notes to the Financial Statements - continued |
for the Period 1 April 2017 to 31 December 2017 |
8. | CONTROLLING PARTY |
The immediate parent company of JM Property 5 Limited is JMP Finance A Limited, a company incorporated in |
Malta with its registered office address at 93, Mill Street, Qormi, QRM 3102, Malta. |
The ultimate parent company of JMP Finance A Limited is the Tigerford Product Limited, a company registered |
in the Cayman Islands, with its registered office address at Walker House, 87 Mary Street, George Town, KY1- |
9005, Grand Cayman, Cayman Islands. |
There is no ultimate controlling party. |