Jaef Investments Limited - Accounts to registrar (filleted) - small 23.2.5
Jaef Investments Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD |
| 6TH APRIL 2022 TO 30TH MARCH 2023 |
| FOR |
| JAEF INVESTMENTS LIMITED |
| JAEF INVESTMENTS LIMITED (REGISTERED NUMBER: 00636688) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 6TH APRIL 2022 TO 30TH MARCH 2023 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| JAEF INVESTMENTS LIMITED |
| COMPANY INFORMATION |
| FOR THE PERIOD 6TH APRIL 2022 TO 30TH MARCH 2023 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 25 St Thomas Street |
| Winchester |
| Hampshire |
| SO23 9HJ |
| JAEF INVESTMENTS LIMITED (REGISTERED NUMBER: 00636688) |
| BALANCE SHEET |
| 30TH MARCH 2023 |
| 2023 | 2022 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Investments | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Other reserves |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| JAEF INVESTMENTS LIMITED (REGISTERED NUMBER: 00636688) |
| BALANCE SHEET - continued |
| 30TH MARCH 2023 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| JAEF INVESTMENTS LIMITED (REGISTERED NUMBER: 00636688) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 6TH APRIL 2022 TO 30TH MARCH 2023 |
| 1. | STATUTORY INFORMATION |
| Jaef Investments Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| The carrying amount that would have been included in the financial statements had the property been carried at historical cost is £2,453,169. |
| 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. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was NIL (2022 - NIL). |
| JAEF INVESTMENTS LIMITED (REGISTERED NUMBER: 00636688) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 6TH APRIL 2022 TO 30TH MARCH 2023 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| Additions |
| At 30th March 2023 |
| NET BOOK VALUE |
| At 30th March 2023 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 6th April 2022 |
| and 30th March 2023 |
| NET BOOK VALUE |
| At 30th March 2023 |
| At 5th April 2022 |
| The directors have not revalued the property since 2009/10 as would be required by section 16 of FRS 102. As the London property market has strengthened since then, the directors are of the opinion that the current fair value is higher than that stated in the statement of financial position and that to depreciate the assets is not appropriate. |
| The company has taken advantage of the transition exemption under paragraph 35.10(d) of FRS 102 in respect of using a previous GAAP revaluation of property, plant and equipment or investment property at, or before, the date of translation to FRS 102 as its deemed cost at the revaluation date. |
| The carrying amount that would have been included in the financial statements had the property been carried at historical cost is £2,453,169. |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Other debtors |
| 7. | CURRENT ASSET INVESTMENTS |
| 2023 | 2022 |
| £ | £ |
| Unlisted investments | 50,000 | 175 |
| JAEF INVESTMENTS LIMITED (REGISTERED NUMBER: 00636688) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 6TH APRIL 2022 TO 30TH MARCH 2023 |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Taxation and social security |
| Other creditors |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2023 | 2022 |
| value: | £ | £ |
| Ordinary A | £1 | 8,000 | 8,000 |
| Ordinary B | £1 | 3,000 | 3,000 |
| 11,000 | 11,000 |
| 10. | RELATED PARTY DISCLOSURES |
| Included within other debtors is a loan to Vorcon Limited of £2,631,148 (2022: £2,629,603), of which the directors of the company are also directors of Vorcon Limited. The loan is interest free with no fixed repayment terms. |
| Other transactions with related parties have been identified. As these transactions are conducted under normal market conditions, disclosures have been excluded from the financial statements. |
| 11. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling parties are the Trustees of The Scott JAEF Settlement. |