Caseware UK (AP4) 2016.0.208 2016.0.208 2018-03-312018-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalseNo description of principal activityfalse2017-04-01 04610306 2017-04-01 2018-03-31 04610306 2016-04-01 2017-03-31 04610306 2018-03-31 04610306 2017-03-31 04610306 c:Director1 2017-04-01 2018-03-31 04610306 d:MotorVehicles 2017-04-01 2018-03-31 04610306 d:MotorVehicles 2018-03-31 04610306 d:MotorVehicles 2017-03-31 04610306 d:MotorVehicles d:OwnedOrFreeholdAssets 2017-04-01 2018-03-31 04610306 d:FurnitureFittings 2017-04-01 2018-03-31 04610306 d:FurnitureFittings 2018-03-31 04610306 d:FurnitureFittings 2017-03-31 04610306 d:FurnitureFittings d:OwnedOrFreeholdAssets 2017-04-01 2018-03-31 04610306 d:OfficeEquipment 2017-04-01 2018-03-31 04610306 d:OfficeEquipment 2018-03-31 04610306 d:OfficeEquipment 2017-03-31 04610306 d:OfficeEquipment d:OwnedOrFreeholdAssets 2017-04-01 2018-03-31 04610306 d:OwnedOrFreeholdAssets 2017-04-01 2018-03-31 04610306 d:FreeholdInvestmentProperty 2018-03-31 04610306 d:FreeholdInvestmentProperty 2017-03-31 04610306 d:CurrentFinancialInstruments 2018-03-31 04610306 d:CurrentFinancialInstruments 2017-03-31 04610306 d:Non-currentFinancialInstruments 2018-03-31 04610306 d:Non-currentFinancialInstruments 2017-03-31 04610306 d:CurrentFinancialInstruments d:WithinOneYear 2018-03-31 04610306 d:CurrentFinancialInstruments d:WithinOneYear 2017-03-31 04610306 d:Non-currentFinancialInstruments d:AfterOneYear 2018-03-31 04610306 d:Non-currentFinancialInstruments d:AfterOneYear 2017-03-31 04610306 d:ShareCapital 2018-03-31 04610306 d:ShareCapital 2017-03-31 04610306 d:RetainedEarningsAccumulatedLosses 2018-03-31 04610306 d:RetainedEarningsAccumulatedLosses 2017-03-31 04610306 d:OtherDeferredTax 2018-03-31 04610306 d:OtherDeferredTax 2017-03-31 04610306 c:FRS102 2017-04-01 2018-03-31 04610306 c:AuditExempt-NoAccountantsReport 2017-04-01 2018-03-31 04610306 c:FullAccounts 2017-04-01 2018-03-31 04610306 c:PrivateLimitedCompanyLtd 2017-04-01 2018-03-31 iso4217:GBP xbrli:pure

Registered number: 04610306









JDM INVESTMENTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2018

 
JDM INVESTMENTS LIMITED
REGISTERED NUMBER: 04610306

BALANCE SHEET
AS AT 31 MARCH 2018

2018
2017
Note
£
£

Fixed assets
  

Tangible assets
 4 
31,209
32,624

Investments
 5 
101
101

Investment property
 6 
6,020,994
6,020,994

  
6,052,304
6,053,719

Current assets
  

Debtors: amounts falling due within one year
 7 
273,331
190,820

Cash at bank and in hand
 8 
64,853
32,608

  
338,184
223,428

Creditors: amounts falling due within one year
 9 
(1,134,285)
(1,066,504)

Net current liabilities
  
 
 
(796,101)
 
 
(843,076)

Total assets less current liabilities
  
5,256,203
5,210,643

Creditors: amounts falling due after more than one year
 10 
(1,600,829)
(1,744,940)

Provisions for liabilities
  

Deferred tax
 11 
(447,916)
(447,916)

  
 
 
(447,916)
 
 
(447,916)

Net assets
  
3,207,458
3,017,787


Capital and reserves
  

Called up share capital 
  
3
3

Profit and loss account
  
3,207,455
3,017,784

  
3,207,458
3,017,787


The director considers 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 director acknowledges his 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.
Page 1

 
JDM INVESTMENTS LIMITED
REGISTERED NUMBER: 04610306
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2018


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: 




................................................
J D McGowan
Director

Date: 7 November 2018

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
JDM INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

1.


General information

JDM Investments Limited is a company limited by shares incorporated within the United Kingdom. The address of the registered office is gien on the company information page of these financial statements. 
The principal activity of the company was that of property investment.
The significant accounting policies applied in the prepation of these financial statemets are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

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:

 
2.2

Revenue

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. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

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.

 
2.4

Borrowing costs

All borrowing costs are recognised in the Statement of income and retained earnings in the year in which they are incurred.

Page 3

 
JDM INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Tangible fixed assets

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
10% reducing balance
Office equipment
-
10% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of income and retained earnings.

Page 4

 
JDM INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

2.Accounting policies (continued)

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers 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 income and retained earnings.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each Balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.9

Debtors

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.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

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.

 
2.12

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of income and retained earnings in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

Page 5

 
JDM INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

2.Accounting policies (continued)

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2017 - 3).


4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2017
14,180
16,540
11,372
42,092


Additions
-
2,689
1,096
3,785



At 31 March 2018

14,180
19,229
12,468
45,877



Depreciation


At 1 April 2017
3,766
2,398
3,304
9,468


Charge for the year on owned assets
2,603
1,683
914
5,200



At 31 March 2018

6,369
4,081
4,218
14,668



Net book value



At 31 March 2018
7,811
15,148
8,250
31,209



At 31 March 2017
10,414
14,142
8,068
32,624

Page 6

 
JDM INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2017
100,101



At 31 March 2018

100,101



Impairment


At 1 April 2017
100,000



At 31 March 2018

100,000



Net book value



At 31 March 2018
101



At 31 March 2017
101


6.


Investment property


Freehold investment property

£



Valuation


At 1 April 2017
6,020,994



At 31 March 2018
6,020,994

The 2018 valuations were made by the director, on an open market value for existing use basis.






Page 7

 
JDM INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

7.


Debtors

2018
2017
£
£


Trade debtors
159,778
139,923

Other debtors
45,845
32,897

Prepayments and accrued income
67,708
18,000

273,331
190,820



8.


Cash and cash equivalents

2018
2017
£
£

Cash at bank and in hand
64,853
32,608

64,853
32,608



9.


Creditors: Amounts falling due within one year

2018
2017
£
£

Bank loans
142,744
140,690

Trade creditors
6,093
29,226

Amounts owed to group undertakings
709,551
720,393

Corporation tax
73,807
44,202

Other taxation and social security
240
3,951

Other creditors
115,400
29,175

Accruals and deferred income
86,450
98,867

1,134,285
1,066,504



10.


Creditors: Amounts falling due after more than one year

2018
2017
£
£

Bank loans
1,600,829
1,744,940

1,600,829
1,744,940


Page 8

 
JDM INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

11.


Deferred taxation




2018


£






At beginning of year
(447,916)



At end of year
(447,916)

The provision for deferred taxation is made up as follows:

2018
2017
£
£


On revaluation of investment properties
(447,916)
(447,916)

(447,916)
(447,916)


12.


Related party transactions

At the balance sheet date the company owed £709,551 (2017: £836,515) to entities under common control.

 
Page 9