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Registered number:
10537350
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JUMBY LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2018
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JUMBY LIMITED
REGISTERED NUMBER:
10537350
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2018
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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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Page 1
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JUMBY LIMITED
REGISTERED NUMBER:
10537350
STATEMENT OF FINANCIAL POSITION
(CONTINUED)
AS AT
31 DECEMBER 2018
The directors consider 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 Companies Act 2006.
The directors acknowledge their 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 income and retained earnings 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
:
The notes on pages 3 to 7 form part of these financial statements.
Page 2
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JUMBY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
Jumby Limited is a private limited company, limited by shares, incorporated and registered in England within the United Kingdom. The registered office is Springfield House, 45 Welsh Back, Bristol, BS1 4AG and the registered number is 10537350.
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:
The financial statements have been prepared on a going concern basis. The directors are confident that future rents receivable are sufficient to cover the capital repayments on the loan for at least the next 12 months.
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.
Finance costs are charged to the Statement of income and retained earnings 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.
All borrowing costs are recognised in the Statement of income and retained earnings in the year in which they are incurred.
Page 3
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JUMBY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
2.
ACCOUNTING POLICIES (continued)
Tangible fixed assets under the cost model, other than investment properties, are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.
Depreciation is provided on the following basis:
Investment property is carried at fair value determined annually either by external valuers or the directors 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 comprehensive income.
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.
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
4
(2017:
4
)
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Page 4
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JUMBY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
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Charge for the year on owned assets
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Freehold investment property
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The 2018 valuations were made by the directors, on an open market value for existing use basis.
The historical cost of the investment properties held at 31 December 2018 is £1,176,753.
Page 5
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JUMBY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
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Prepayments and accrued income
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CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
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Accruals and deferred income
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Creditors amounts falling due within one year includes £17,000 (2017: 26,000) on which security has been given by a fixed and floating charge over the assets of the company.
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CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
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Creditors amounts falling due after more than one year includes £609,500 (2017: 617,500), on which security has been given by a fixed and floating charge over the assets of the company.
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Page 6
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JUMBY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
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Analysis of the maturity of loans is given below:
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AMOUNTS FALLING DUE WITHIN ONE YEAR
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AMOUNTS FALLING DUE 2-5 YEARS
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AMOUNTS FALLING DUE AFTER MORE THAN 5 YEARS
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ALLOTTED, CALLED UP AND FULLY PAID
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200
(2017:
200
)
Ordinary
shares of £
1.00
each
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RELATED PARTY TRANSACTIONS
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At the year end, the
directors'
were due a total of £
564,518
(2017: £555,018) by the company. The loans are interest free with no fixed date for repayment and are included in creditors due after more than one year.
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Page 7
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