JEJS Holdings Limited
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Notes to the Accounts |
for the year ended 31 March 2020
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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Going Concern |
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The directors consider that it is appropriate to prepare the accounts on a going concern basis as financial support provided by them to meet the liabilities of the company will continue for the forseeable future. |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes rental revenue earned from the holding of investment property and is recognised on an accruals basis.
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Investments |
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Property held as investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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2 |
Employees |
2020 |
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2019 |
Number |
Number |
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Average number of persons employed by the company |
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including directors |
2 |
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2 |
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3 |
Investments |
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Other |
investments |
£ |
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Cost |
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At 1 April 2019 |
165,774 |
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At 31 March 2020 |
165,774 |
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Historical cost |
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At 1 April 2019 |
165,774 |
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At 31 March 2020 |
165,774 |
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At the balance sheet date the fair value of the investment property held by the company was equal to the acquisistion cost. |
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4 |
Debtors |
2020 |
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2019 |
£ |
£ |
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Other debtors |
- |
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243 |
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5 |
Creditors: amounts falling due within one year |
2020 |
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2019 |
£ |
£ |
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Other creditors |
170,360 |
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171,200 |
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6 |
Related party transactions |
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Loans to the company continue to be provided by the directors with an original £50,000 loan on an interest free basis and £120,000 at 2% interest. Interest of £2,400 (2019: £2,400) was paid to the directors in the year.The loans are repayable on thirty days notice. At the year end the company owed the directors £169,040 (2019: £170,000).
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7 |
Other information |
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JEJS Holdings Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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13 Patten Road |
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Wandsworth Common |
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London |
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SW18 3RH |