JEJS Holdings Limited
|
Notes to the Accounts |
for the period from 23 May 2017 to 31 March 2018
|
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
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).
|
|
|
Turnover |
|
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.
|
|
|
Investments |
|
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.
|
|
|
Taxation |
|
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.
|
|
|
2 |
Employees |
2018 |
|
Number |
|
|
|
Average number of persons employed by the company, |
|
including directors |
2 |
|
|
|
|
|
|
|
|
|
3 |
Investments |
|
Other |
investments |
£ |
|
Cost |
|
Additions |
165,774 |
|
|
At 31 March 2018 |
165,774 |
|
|
|
|
|
|
|
|
|
|
Historical cost |
|
At 31 March 2018 |
165,774 |
|
|
|
|
|
|
|
|
|
|
At the balance sheet date the fair value of the investment property held by the company was equal to the acquisistion cost. |
|
|
4 |
Debtors |
2018 |
|
£ |
|
|
|
Other debtors |
100 |
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2018 |
|
£ |
|
|
|
Taxation and social security costs |
243 |
|
Other creditors |
171,200 |
|
|
|
|
|
|
171,443 |
|
|
|
|
|
|
|
|
|
|
6 |
Related party transactions |
|
|
During the period the directors advanced to the company a £50,000 loan on an interest free basis and £120,000 at 2% interest in order to aquire investment property. Interest of £1,072 was paid to the directors in the period.The loans are repayable on thirty days notice. At the period end the company owed the directors £170,000.
|
|
|
7 |
Other information |
|
|
JEJS Holdings Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
13 Patten Road |
|
Wandsworth Common |
|
London |
|
SW18 3RH |