31/12/2017
2017-12-31
false
false
false
false
false
false
false
false
false
false
true
false
false
true
false
false
false
false
false
true
true
false
No description of principal activities is disclosed
2017-01-01
Sage Accounts Production 18.11 - FRS
xbrli:pure
xbrli:shares
iso4217:GBP
04084015
2017-01-01
2017-12-31
04084015
2017-12-31
04084015
2016-12-31
04084015
2016-12-31
04084015
core:FurnitureFittingsToolsEquipment
2017-01-01
2017-12-31
04084015
bus:RegisteredOffice
2017-01-01
2017-12-31
04084015
bus:LeadAgentIfApplicable
2017-01-01
2017-12-31
04084015
bus:Director1
2017-01-01
2017-12-31
04084015
core:LandBuildings
core:OwnedOrFreeholdAssets
2016-12-31
04084015
core:FurnitureFittingsToolsEquipment
2016-12-31
04084015
core:LandBuildings
core:OwnedOrFreeholdAssets
2017-12-31
04084015
core:FurnitureFittingsToolsEquipment
2017-12-31
04084015
core:AfterOneYear
2017-12-31
04084015
core:AfterOneYear
2016-12-31
04084015
core:WithinOneYear
2017-12-31
04084015
core:WithinOneYear
2016-12-31
04084015
core:ShareCapital
2017-12-31
04084015
core:ShareCapital
2016-12-31
04084015
core:RevaluationReserve
2017-12-31
04084015
core:RevaluationReserve
2016-12-31
04084015
core:RetainedEarningsAccumulatedLosses
2017-12-31
04084015
core:RetainedEarningsAccumulatedLosses
2016-12-31
04084015
core:LandBuildings
core:OwnedOrFreeholdAssets
2017-01-01
2017-12-31
04084015
core:LandBuildings
core:OwnedOrFreeholdAssets
2016-12-31
04084015
core:FurnitureFittingsToolsEquipment
2016-12-31
04084015
bus:SmallEntities
2017-01-01
2017-12-31
04084015
bus:AuditExemptWithAccountantsReport
2017-01-01
2017-12-31
04084015
bus:FullAccounts
2017-01-01
2017-12-31
04084015
bus:SmallCompaniesRegimeForAccounts
2017-01-01
2017-12-31
04084015
bus:PrivateLimitedCompanyLtd
2017-01-01
2017-12-31
04084015
1
2017-01-01
2017-12-31
Company registration number:
04084015
J R Property Limited
Unaudited abridged financial statements
31 December 2017
J R Property Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
J R Property Limited
Directors and other information
|
|
|
|
Director
|
Ms J Smith
|
|
|
|
|
|
|
|
Company number
|
04084015
|
|
|
|
|
|
|
|
Registered office
|
151a Stapleton Hall Road
|
|
|
Stroud Green
|
|
|
London
|
|
|
N4 4RB
|
|
|
|
|
|
|
|
Accountants
|
Leftley Rowe and Company
|
|
|
The Heights
|
|
|
59-65 Lowlands Road
|
|
|
Harrow
|
|
|
Middlesex
|
|
|
HA1 3AW
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bankers
|
NatWest Bank Plc
|
|
|
135 Bishopsgate
|
|
|
London
|
|
|
EC2M 3UR
|
|
|
|
J R Property Limited
Chartered accountants report to the director on the preparation of the
unaudited statutory financial statements of J R Property Limited
Year ended 31 December 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of J R Property Limited for the year ended 31 December 2017 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/ regulations-standards-and-guidance/.
This report is made solely to the director of J R Property Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of J R Property Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than J R Property Limited and its director as a body for our work or for this report.
It is your duty to ensure that J R Property Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of J R Property Limited. You consider that J R Property Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of J R Property Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Leftley Rowe and Company
Chartered Accountants & Statutory Auditors
The Heights
59-65 Lowlands Road
Harrow
Middlesex
HA1 3AW
30 July 2018
J R Property Limited
Statement of financial position
31 December 2017
|
|
|
2017
|
|
|
|
2016
|
|
|
|
|
Note
|
£
|
|
£
|
|
£
|
|
£
|
|
|
|
|
|
|
|
|
|
|
Fixed assets
|
|
|
|
|
|
|
|
|
|
Tangible assets
|
|
4
|
2,668,590
|
|
|
|
2,669,557
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
2,668,590
|
|
|
|
2,669,557
|
|
|
|
|
|
|
|
|
|
|
Current assets
|
|
|
|
|
|
|
|
|
|
Debtors
|
|
5
|
-
|
|
|
|
69,344
|
|
|
Cash at bank and in hand
|
|
|
50,432
|
|
|
|
25,065
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
50,432
|
|
|
|
94,409
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
within one year
|
|
6
|
(
318,721)
|
|
|
|
(
2,688)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
Net current (liabilities)/assets
|
|
|
|
|
(
268,289)
|
|
|
|
91,721
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Total assets less current liabilities
|
|
|
|
|
2,400,301
|
|
|
|
2,761,278
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
after more than one year
|
|
7
|
|
|
(
1,398,914)
|
|
|
|
(
1,665,498)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Net assets
|
|
|
|
|
1,001,387
|
|
|
|
1,095,780
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
Capital and reserves
|
|
|
|
|
|
|
|
|
|
Called up share capital
|
|
|
|
|
100
|
|
|
|
100
|
Revaluation reserve
|
|
|
|
|
991,846
|
|
|
|
991,846
|
Profit and loss account
|
|
|
|
|
9,441
|
|
|
|
103,834
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Shareholder funds
|
|
|
|
|
1,001,387
|
|
|
|
1,095,780
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
For the year ending 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
30 July 2018
, and are signed on behalf of the board by:
Ms J Smith
Director
Company registration number:
04084015
J R Property Limited
Notes to the financial statements
Year ended 31 December 2017
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is 151a Stapleton Hall Road, Stroud Green, London, N4 4RB.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Freehold property
|
-
|
not depreciated
|
|
|
Fittings fixtures and equipment
|
-
|
25 %
|
reducing balance
|
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
4.
Tangible assets
|
|
Freehold property
|
Fixtures, fittings and equipment
|
Total
|
|
|
|
|
|
|
£
|
£
|
£
|
|
|
|
|
|
Cost
|
|
|
|
|
|
|
|
|
At 1 January 2017
|
2,649,999
|
105,377
|
2,755,376
|
|
|
|
|
|
Additions
|
-
|
5,230
|
5,230
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
At 31 December 2017
|
2,649,999
|
110,607
|
2,760,606
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
Depreciation
|
|
|
|
|
|
|
|
|
At 1 January 2017
|
-
|
85,819
|
85,819
|
|
|
|
|
|
Charge for the year
|
-
|
6,197
|
6,197
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
At 31 December 2017
|
-
|
92,016
|
92,016
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
|
At 31 December 2017
|
2,649,999
|
18,591
|
2,668,590
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
At 31 December 2016
|
2,649,999
|
19,558
|
2,669,557
|
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tangible assets held at valuation
The valuations of the investment properties were made on 31 December 2016 by J Smith, a director of the company, on an open market basis. No depreciation is provided in respect of these properties.
5.
Debtors
|
|
|
2017
|
2016
|
|
|
|
£
|
£
|
|
Other debtors
|
|
-
|
69,344
|
|
|
|
_______
|
_______
|
|
|
|
|
|
6.
Creditors: amounts falling due within one year
|
|
|
2017
|
2016
|
|
|
|
£
|
£
|
|
Other creditors
|
|
318,721
|
2,688
|
|
|
|
_______
|
_______
|
|
|
|
|
|
7.
Creditors: amounts falling due after more than one year
|
|
|
2017
|
2016
|
|
|
|
£
|
£
|
|
Bank loans and overdrafts
|
|
1,398,914
|
1,665,498
|
|
|
|
_______
|
_______
|
|
|
|
|
|
The loans are secured by way of a legal charge over all the company's properties.
8.
Controlling party
The ultimate controlling party is J Smith, by virtue of her majority shareholding in the company.