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Unaudited Financial Statements |
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for the Year Ended 31 October 2019 |
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for |
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JLK Holdings Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 October 2019 |
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for |
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JLK Holdings Limited |
JLK Holdings Limited (Registered number: 10405956) |
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Contents of the Financial Statements |
for the Year Ended 31 October 2019 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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JLK Holdings Limited |
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Company Information |
for the Year Ended 31 October 2019 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Eldo House |
Kempson Way |
Suffolk Business Park |
Bury St Edmunds |
Suffolk |
IP32 7AR |
JLK Holdings Limited (Registered number: 10405956) |
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Balance Sheet |
31 October 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS/(LIABILITIES) |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 8 | ( |
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PROVISIONS FOR LIABILITIES | 9 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 10 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
JLK Holdings Limited (Registered number: 10405956) |
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Balance Sheet - continued |
31 October 2019 |
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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 Board of Directors on
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JLK Holdings Limited (Registered number: 10405956) |
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Notes to the Financial Statements |
for the Year Ended 31 October 2019 |
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1. | STATUTORY INFORMATION |
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JLK Holdings Limited is a
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number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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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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Rental income is recognised in the period that the rent relates to with any rental income invoiced in advance included in |
deferred income. |
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Tangible fixed assets |
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Computer equipment | - |
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Investment property |
Investment properties are included in the accounts at fair value. Any aggregate surplus or deficit arising from changes in fair |
value is recognised in the profit and loss account and transferred to an un-distributable reserve. |
JLK Holdings Limited (Registered number: 10405956) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 October 2019 |
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2. | ACCOUNTING POLICIES - continued |
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Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and |
liabilities like trade and other accounts receivable and payable, and loans from banks or other related parties. |
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Debt instruments, like loans and other accounts receivable and payable, are initially measured at present value of the future |
payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or |
receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the |
undiscounted amount of the cash or other consideration, expected to be paid or received. However if the arrangements of a |
short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business |
terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, |
the financial asset or liability is measured, initially and subsequently, at the present value of the future payment discounted at |
a market rate of interest for a similar debt instrument. |
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Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective |
evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of |
Comprehensive Income. |
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For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's |
carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a |
financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest |
rate determined under the contract. |
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For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's |
carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if |
it were to be sold at the balance sheet date. |
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Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right |
to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the |
liability simultaneously. |
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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. |
JLK Holdings Limited (Registered number: 10405956) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 October 2019 |
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2. | ACCOUNTING POLICIES - continued |
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Impairment policy |
At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments but excluding |
investment properties, are assessed to determine whether there is an indication that the carrying amount of an asset may be |
more than its recoverable amount and that the asset should be impaired. If there is an indication of possible impairment, the |
recoverable amount of an asset, which is the higher of its value in use and its net realisable value, is estimated and compared |
with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated |
recoverable amount and an impairment loss is recognised in profit and loss. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 November 2018 |
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Additions |
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At 31 October 2019 |
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DEPRECIATION |
At 1 November 2018 |
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Charge for year |
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At 31 October 2019 |
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NET BOOK VALUE |
At 31 October 2019 |
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At 31 October 2018 |
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5. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 November 2018 |
and 31 October 2019 |
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NET BOOK VALUE |
At 31 October 2019 |
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At 31 October 2018 |
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The investment property was valued on a fair value basis by Merrifields Chartered Surveyors in February 2016. The valuation |
included in the accounts is deemed to be fair by the directors as at 31 October 2019. |
JLK Holdings Limited (Registered number: 10405956) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 October 2019 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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Other creditors includes amounts owed to the directors. |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2019 | 2018 |
£ | £ |
Other creditors |
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Other creditors includes amounts owed to the directors. |
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9. | PROVISIONS FOR LIABILITIES |
2019 | 2018 |
£ | £ |
Deferred tax |
Accelerated capital allowances | 25,062 | 24,024 |
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Deferred |
tax |
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Balance at 1 November 2018 |
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Provided during year |
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Balance at 31 October 2019 |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |