Company Registration No. SC323569 (Scotland)
SJ ACQUISITIONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018
PAGES FOR FILING WITH REGISTRAR
SJ ACQUISITIONS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
SJ ACQUISITIONS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2018
31 March 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Tangible assets
2
8,324
9,793
Investment properties
3
516,651
516,651
524,975
526,444
Current assets
Cash at bank and in hand
2
2
Creditors: amounts falling due within one year
4
(354,487)
(320,065)
Net current liabilities
(354,485)
(320,063)
Total assets less current liabilities
170,490
206,381
Creditors: amounts falling due after more than one year
5
(142,723)
(168,908)
Net assets
27,767
37,473
Capital and reserves
Called up share capital
6
1,000
1,000
Profit and loss reserves
26,767
36,473
Total equity
27,767
37,473

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.

SJ ACQUISITIONS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2018
31 March 2018
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 17 September 2018
Mrs D Brown
Director
Company Registration No. SC323569
SJ ACQUISITIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018
- 3 -
1
Accounting policies
Company information

SJ Acquisitions Limited is a private company limited by shares incorporated in Scotland. The registered office is Campbell Dallas Limited, Titanium 1, King's Inch Place, Renfrew, PA4 8WF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
15% Reducing Balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.3
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

 

Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

SJ ACQUISITIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2018
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 April 2017 and 31 March 2018
38,784
Depreciation and impairment
At 1 April 2017
28,991
Depreciation charged in the year
1,469
At 31 March 2018
30,460
Carrying amount
At 31 March 2018
8,324
At 31 March 2017
9,793
SJ ACQUISITIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2018
- 5 -
3
Investment property
2018
£
Fair value
At 1 April 2017 and 31 March 2018
516,651

The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31st March 2017 by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

4
Creditors: amounts falling due within one year
2018
2017
£
£
Trade creditors
-
1,472
Corporation tax
2,300
2,300
Other creditors
349,907
314,763
Accruals and deferred income
2,280
1,530
354,487
320,065
5
Creditors: amounts falling due after more than one year
2018
2017
Notes
£
£
Other borrowings
142,723
168,908
6
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
1,000 Ordinary of £1 each
1,000
1,000
1,000
1,000
7
Related party transactions

The following amounts were outstanding at the reporting end date:

2018
2017
Amounts owed to related parties
£
£
Other related parties
349,907
314,763
SJ ACQUISITIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2018
- 6 -
8
Control

The Company was under the control of Mr S Jackson throughout the current and previous year.

2018-03-312017-04-01falseCCH SoftwareCCH Accounts Production 2018.221No description of principal activity17 September 2018Mrs D BrownSC3235692017-04-012018-03-31SC3235692018-03-31SC3235692017-03-31SC323569core:FurnitureFittings2018-03-31SC323569core:FurnitureFittings2017-03-31SC323569core:CurrentFinancialInstruments2018-03-31SC323569core:CurrentFinancialInstruments2017-03-31SC323569core:Non-currentFinancialInstruments2018-03-31SC323569core:Non-currentFinancialInstruments2017-03-31SC323569core:ShareCapital2018-03-31SC323569core:ShareCapital2017-03-31SC323569core:RetainedEarningsAccumulatedLosses2018-03-31SC323569core:RetainedEarningsAccumulatedLosses2017-03-31SC323569core:ShareCapitalOrdinaryShares2018-03-31SC323569core:ShareCapitalOrdinaryShares2017-03-31SC323569bus:Director12017-04-012018-03-31SC323569core:FurnitureFittings2017-04-012018-03-31SC323569core:FurnitureFittings2017-03-31SC323569bus:OrdinaryShareClass12017-04-012018-03-31SC323569bus:OrdinaryShareClass12018-03-31SC3235692016-04-012017-03-31SC323569bus:PrivateLimitedCompanyLtd2017-04-012018-03-31SC323569bus:FRS1022017-04-012018-03-31SC323569bus:AuditExemptWithAccountantsReport2017-04-012018-03-31SC323569bus:SmallCompaniesRegimeForAccounts2017-04-012018-03-31SC323569bus:FullAccounts2017-04-012018-03-31xbrli:purexbrli:sharesiso4217:GBP