REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH APRIL 2022 |
FOR |
SJO ENTERPRISES LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH APRIL 2022 |
FOR |
SJO ENTERPRISES LIMITED |
SJO ENTERPRISES LIMITED (REGISTERED NUMBER: 07145629) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH APRIL 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
SJO ENTERPRISES LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30TH APRIL 2022 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SJO ENTERPRISES LIMITED (REGISTERED NUMBER: 07145629) |
BALANCE SHEET |
30TH APRIL 2022 |
2022 | 2021 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Revaluation reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges her responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
SJO ENTERPRISES LIMITED (REGISTERED NUMBER: 07145629) |
BALANCE SHEET - continued |
30TH APRIL 2022 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
SJO ENTERPRISES LIMITED (REGISTERED NUMBER: 07145629) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH APRIL 2022 |
1. | STATUTORY INFORMATION |
SJO Enterprises Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the invoiced amounts of services provided, net of value added tax. |
Tangible fixed assets |
Office equipment | - |
Government grants |
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. |
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable . A grant received before the recognition criteria are satisfied is recognised as a liability. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
SJO ENTERPRISES LIMITED (REGISTERED NUMBER: 07145629) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH APRIL 2022 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Basic financial assets |
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. |
Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
Basic financial liabilities |
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
Equity instruments |
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. |
Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
SJO ENTERPRISES LIMITED (REGISTERED NUMBER: 07145629) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH APRIL 2022 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Pension costs and other post-retirement benefits |
Contributions to the company's defined contribution pension scheme are charged to the profit and loss account in the year to which they become due. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2021 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Office |
equipment |
£ |
COST |
At 1st May 2021 |
and 30th April 2022 |
DEPRECIATION |
At 1st May 2021 |
and 30th April 2022 |
NET BOOK VALUE |
At 30th April 2022 |
At 30th April 2021 |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST OR VALUATION |
At 1st May 2021 |
Revaluations |
At 30th April 2022 |
NET BOOK VALUE |
At 30th April 2022 |
At 30th April 2021 |
SJO ENTERPRISES LIMITED (REGISTERED NUMBER: 07145629) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH APRIL 2022 |
5. | FIXED ASSET INVESTMENTS - continued |
Cost or valuation at 30th April 2022 is represented by: |
Other |
investments |
£ |
Valuation in 2015 | 1,466,471 |
Valuation in 2016 | 440,632 |
Valuation in 2017 | 338,939 |
Valuation in 2018 | 15,862,914 |
Valuation in 2019 | (7,579,988 | ) |
Valuation in 2020 | 4,047,039 |
Valuation in 2021 | 1,300,674 |
Valuation in 2022 | 6,181,245 |
Cost | 6,800,089 |
28,858,015 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1st May 2021 |
Disposals | ( |
) |
At 30th April 2022 |
NET BOOK VALUE |
At 30th April 2022 |
At 30th April 2021 |
7. | DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Other creditors |
SJO ENTERPRISES LIMITED (REGISTERED NUMBER: 07145629) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH APRIL 2022 |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
Ordinary | £1 | 1 | 1 |
11. | RELATED PARTY DISCLOSURES |
During the year the company entered into the following transactions with related parties: |
Loans to related parties |
Party | 2022 | 2021 | Relationship |
£ | £ |
Vector Capital Investments ApS | - | Common officers |
DGM (Broadway) Limited | 987,796 | 987,796 | Subsidiary |
DGM Investment Company Limited | 2,069,999 | 2,069,999 | Subsidiary |
Vector Property Management Limited |
- |
25,079 |
Common officers |
Vector Capital Finance Limited | - | 5,000 | Common officers |
DGM Property Rentals Limited | 446,845 | 436,845 | Subsidiary |
DGM (Chelmsford) Limited | 1,454,999 | 1,454,999 | Subsidiary |
SCI HM Properties Loan | 13,748 | 38,790 | Common family ownership |
Lynwood Developments Limited | - | 284,315 | Common family ownership |
Lynwood Lettings Limited | - | 187,041 | Common family ownership |
Loans from related parties |
Party | 2022 | 2021 | Relationship |
£ | £ |
S J Owen | - | - | Spouse of Director loan |
D A Owen | 16,913,495.85 | 318,066 | Directors loan |
D A Owen - DKK loan | 3,281,438.58 | - | Director |
DGM London Road Limited | 1 | 1 | Subsidiary |
William | - | 4945.70 | Son of Director |
Vector Capital Investments ApS | 800,182 | - | Subsidiary |
Blackheath Instruments Limited | - | 14,438,678 | Ultimate Parent Company |
12. | ULTIMATE CONTROLLING PARTY |
The company is controlled by the director, Mr D Owen who holds the company's entire issued share capital. |