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Registered number: 01724396
LEJARA HOLDINGS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
For the Year Ended 30 June 2019
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LEJARA HOLDINGS LIMITED
Registered number: 01724396
STATEMENT OF FINANCIAL POSITION
As at 30 June 2019
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Provisions for liabilities
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LEJARA HOLDINGS LIMITED
Registered number: 01724396
STATEMENT OF FINANCIAL POSITION (CONTINUED)
As at 30 June 2019
The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
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G Keevil
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The notes on pages 4 to 8 form part of these financial statements.
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LEJARA HOLDINGS LIMITED
STATEMENT OF CHANGES IN EQUITY
For the Year Ended 30 June 2019
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At 1 July 2017 (as previously stated)
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At 1 July 2017 (as restated)
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Currency translation differences
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Total comprehensive income for the year
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Currency translation differences
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Total comprehensive income for the year
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The notes on pages 4 to 8 form part of these financial statements.
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LEJARA HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 30 June 2019
Lejara Holdings Limited is a private company limited by shares and incorporated in England. Its registered office is Wey Court West, Union Road, Farnham, Surrey, GU9 7PT and company number is 01724396.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
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Foreign currency translation
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Functional and presentation currency
The Company's functional currency is Botswana Pula. This differs from the presentational currency which is GBP. The reason for the difference is that the financial statements of this Company are published in the United Kingdom.
Assets and liabilities are translated at the closing rate at the date of the statement of financial position.
Income and expenses are translated at the average rate for the period.
The resulting exchange differences are recognised in other comprehensive income.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
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LEJARA HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 30 June 2019
2.Accounting policies (continued)
Finance costs are charged to the statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in the statement of comprehensive income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
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 income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the statement of financial position date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the statement of income and retained earnings.
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
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LEJARA HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 30 June 2019
2.Accounting policies (continued)
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
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The average monthly number of employees, including directors, during the year was 1 (2018 - 1).
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Long term leasehold investment property
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Foreign exchange movement
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The 2019 valuations were made by the director, on an open market value for existing use basis.
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LEJARA HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 30 June 2019
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Creditors: Amounts falling due within one year
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Creditors: Amounts falling due after more than one year
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Secured loans
The loan is secured by mortgage bond over tribal lot 1213 Mogoditshane, Gaborone. It bears interest at
8.5% per annum, is repayable in equal monthly instalments of Pula 50,834 and is repayable over 10 years.
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Charged to profit or loss
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The provision for deferred taxation is made up as follows:
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Accelerated capital allowances
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Capital gain on investment property
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LEJARA HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 30 June 2019
The comparative figures have been restated in relation to changes to local revenue services in years prior to 30 June 2018 and this affects the comparative debtors and creditors figures. The amount of the adjustment was a net of £3,504.
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Related party transactions
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During the year the Company made loans to the director, G Keevil. At the year end G Keevil owed the Company £238,297 (2018 - £270,158).
During the year the director, G Keevil, made a loan to the Company. At the year end the Company owed G Keevil £nil (2018 - £25,289).
During the year the Company made loans to Charterhouse Investments (Pty) Limited, a company controlled by G Keevil. At the year end Charterhouse Investments (Pty) Limited owed the Company £nil (2018 - £33,359).
During the year the Company made loans to BH Botswana (Pty) Limited, a company controlled by G Keevil. At the year end BH Botswana (Pty) Limited owed the Company £6,430 (2018 - £nil).
During the year Horizon Holdings (Pty) Limited, a company controlled by G Keevil, made a loan to the Company. At the year end the Company owed Horizon Holdings (Pty) Limited £nil (2018 - £33,359).
The loans are all unsecured, bear no interest and have no fixed terms of repayment.
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