Company No:
Contents
30.06.2020 | 31.12.2018 | |||
Note | £ | £ | ||
Fixed assets | ||||
Investments | 3 |
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150,000 | 0 | |||
Current assets | ||||
Stocks | 4 |
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Debtors | 5 |
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Cash at bank and in hand | 6 |
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861,392 | 786,326 | |||
Creditors | ||||
Amounts falling due within one year | 7 | (
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Net current liabilities | (149,881) | (10,274) | ||
Total assets less current liabilities | 119 | (10,274) | ||
Net assets/(liabilities) |
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Capital and reserves | ||||
Called-up share capital | 8 |
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Profit and loss account |
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Total shareholder's funds/(deficit) |
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Director's responsibilities:
The financial statements of Jambo Property Limited (registered number:
Mr R E Tillett
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year.
Jambo Property Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1st Floor Courtleigh House, 74-75 Lemon Street, Truro, Cornwall, TR1 2PN, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council.
The functional currency of Jambo Property Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.
The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
The director has assessed the impact of COVID-19 on the Company's ability to continue as a going concern. Given that the Company's income arises from the provision of property development, the director considers the impact of COVID-19 to be minimal. The financial impact of COVID-19 has been assessed by the director and he believes that there are sufficient resources to address any financial impact. On this basis, the director has concluded it is appropriate that the financial statements have been prepared on a going concern basis.
The director's assumptions and outlook assumes that COVID-19 causes no long-term material unanticipated changes to the business model. The financial statements do not reflect any adjustments that would be necessary should the long-term ability of the Company be jeopardised due to the current COVID-19 situation.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Period from 01.01.2019 to 30.06.2020 |
Year ended 31.12.2018 |
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Number | Number | ||
Monthly average number of persons employed by the Company during the period, including director |
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Investments in subsidiaries
30.06.2020 | |
£ | |
Cost | |
At 01 January 2019 |
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Additions |
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At 30 June 2020 |
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Carrying value at 30 June 2020 |
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Carrying value at 31 December 2018 |
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30.06.2020 | 31.12.2018 | ||
£ | £ | ||
Work in progress |
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30.06.2020 | 31.12.2018 | ||
£ | £ | ||
Amounts owed by Group undertakings |
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Other debtors |
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30.06.2020 | 31.12.2018 | ||
£ | £ | ||
Cash at bank and in hand |
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30.06.2020 | 31.12.2018 | ||
£ | £ | ||
Trade creditors |
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Amounts owed to associates |
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Corporation tax |
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30.06.2020 | 31.12.2018 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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