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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
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JS XCHANGE LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
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FOR |
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JS XCHANGE LIMITED |
JS XCHANGE LIMITED (REGISTERED NUMBER: 08708810) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
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Company information | 1 |
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Balance sheet | 2 |
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Notes to the financial statements | 3 |
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JS XCHANGE LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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JS XCHANGE LIMITED (REGISTERED NUMBER: 08708810) |
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BALANCE SHEET |
30 SEPTEMBER 2021 |
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2021 | 2020 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash in hand |
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CREDITORS |
Amounts falling due within one year | 6 | ( |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Revaluation reserve | 7 |
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Retained earnings |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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JS XCHANGE LIMITED (REGISTERED NUMBER: 08708810) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
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1. | STATUTORY INFORMATION |
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JS Xchange Limited is a
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2. | ACCOUNTING POLICIES |
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BASIS OF PREPARING THE FINANCIAL STATEMENTS |
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TURNOVER |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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INVESTMENTS IN SUBSIDIARIES |
Investments in subsidiaries and associates are initially recognised at their estimated market value. Where the director has reason to believe the investment is imparied the investment is written down to its impaired value. |
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TAXATION |
Taxation for the year 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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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DEFERRED TAX |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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 year end and that are expected to apply to the reversal of the timing difference. |
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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. |
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HIRE PURCHASE AND LEASING COMMITMENTS |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2020 - NIL). |
JS XCHANGE LIMITED (REGISTERED NUMBER: 08708810) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
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4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST OR VALUATION |
At 1 October 2020 |
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Additions |
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Revaluations |
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At 30 September 2021 |
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NET BOOK VALUE |
At 30 September 2021 |
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At 30 September 2020 |
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Cost or valuation at 30 September 2021 is represented by: |
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Shares in |
group |
undertakings |
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Valuation in 2018 | 719,727 |
Valuation in 2019 | 451,217 |
Valuation in 2020 | 340,201 |
Valuation in 2021 | 1,136,055 |
2,647,200 |
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If the investment in shares had not been revalued they would have been included at the following historical cost: |
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2021 | 2020 |
£ | £ |
Cost | 958,883 | 940,921 |
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The fixed asset investments were valued on an open market basis on 31 December 2021 by the director . |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Amounts owed by group undertakings |
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Other debtors |
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JS XCHANGE LIMITED (REGISTERED NUMBER: 08708810) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Other creditors |
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7. | RESERVES |
Revaluation |
reserve |
£ |
At 1 October 2020 |
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Revaluation gains/(losses) | 853,904 |
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At 30 September 2021 |
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8. | RELATED PARTY DISCLOSURES |
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The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
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9. | ULTIMATE CONTROLLING PARTY |
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The controlling party is J S Thomson. |
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The ultimate controlling party is
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10. | RELATED PARTY BALANCES |
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Included in Creditors is £365,647 (2020: £468,454) owned to the director and his family and £206,182 (2020: £204,182) owned to A&A UK Properties Limited, a company owned by the director and his family. |