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Company No: 05714767 (England and Wales)

JAMESWELL INVESTMENTS LIMITED

Annual Report and Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

JAMESWELL INVESTMENTS LIMITED

Annual Report and Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

JAMESWELL INVESTMENTS LIMITED

DIRECTORS' REPORT

For the financial year ended 31 March 2023
JAMESWELL INVESTMENTS LIMITED

DIRECTORS' REPORT (continued)

For the financial year ended 31 March 2023

The directors present their annual report and the unaudited financial statements of the Company for the financial year ended 31 March 2023.

PRINCIPAL ACTIVITIES

The principal activity of the company during the financial year was management and business consultancy.

It is noted that Russell Crisp has permission and continues to act as a director for Jameswell Investments Ltd under Court Order CR-2002-MAN-000004-Crisp V SoS – Minute of Order (S.17) dated 17th February 2023.

DIRECTORS

The directors, who served during the financial year and to the date of this report except as noted, were as follows:

Mr R Crisp
Mrs T L Greening (Appointed 10 February 2023)
Ms T Thomas (Appointed 01 August 2023)

This Directors' Report has been prepared in accordance with the provisions applicable to companies entitled to the small companies' exemption provided by section 415A of the Companies Act 2006.



Approved by the Board of Directors and signed on its behalf by:

Mr R Crisp
Director

11 October 2023

JAMESWELL INVESTMENTS LIMITED

BALANCE SHEET

As at 31 March 2023
JAMESWELL INVESTMENTS LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Restated - note 2
Fixed assets
Tangible assets 4 722 984
Investments 5 1,731,000 1,824,998
1,731,722 1,825,982
Current assets
Debtors 6 241,051 197,738
241,051 197,738
Creditors: amounts falling due within one year 7 ( 177,462) ( 193,470)
Net current assets 63,589 4,268
Total assets less current liabilities 1,795,311 1,830,250
Creditors: amounts falling due after more than one year 8 ( 27,985) ( 32,373)
Provision for liabilities ( 90) ( 187)
Net assets 1,767,236 1,797,690
Capital and reserves
Called-up share capital 9 10,000 10,000
Revaluation reserve 1,730,075 1,767,575
Profit and loss account 27,161 20,115
Total shareholders' funds 1,767,236 1,797,690

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Jameswell Investments Limited (registered number: 05714767) were approved and authorised for issue by the Board of Directors on 11 October 2023. They were signed on its behalf by:

Mr R Crisp
Director
JAMESWELL INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
JAMESWELL INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Jameswell Investments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Haywards Farm Cottage, Chelston, Wellington, TA21 9PH, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Prior year error

It has been identified during the year that there was an error in prior year accounts where an investment had not been recorded correctly and instead had been recognised as an other debtor.

This has been corrected in the current year accounts via a prior period restatement, the restatement would go back further than the prior year but is not profit effecting. Details of the error and new balances is noted in note 2 of the accounts.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2. Prior year adjustment

The prior year has been restated to recognise the investment in Contakt HR Limited which was previously held in Other Debtors.

As previously reported Adjustment As restated
Year ended 31 March 2022 £ £ £
Investments 1,768,500 56,498 1,824,998
Debtors 254,236 (56,498) 197,738

3. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 4

4. Tangible assets

Office equipment Total
£ £
Cost
At 01 April 2022 1,050 1,050
At 31 March 2023 1,050 1,050
Accumulated depreciation
At 01 April 2022 66 66
Charge for the financial year 262 262
At 31 March 2023 328 328
Net book value
At 31 March 2023 722 722
At 31 March 2022 984 984

5. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 April 2022 1,824,998
(37,500)
At 31 March 2023 1,787,498
Provisions for impairment
At 01 April 2022 0
Impairment 56,498
At 31 March 2023 56,498
Carrying value at 31 March 2023 1,731,000
Carrying value at 31 March 2022 1,824,998

During the year the shares held in Functional Movement Systems (UK) Limited have been disposed of by the company.

6. Debtors

2023 2022
£ £
Trade debtors 9,605 16,163
Other debtors 231,446 181,575
241,051 197,738

7. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans and overdrafts 52,880 84,618
Trade creditors 8,989 5,649
Amounts owed to related parties 67,175 0
Taxation and social security 12,007 28,988
Other creditors 36,411 74,215
177,462 193,470

8. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 27,985 32,373

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
10,000 Ordinary shares of £ 1.00 each 10,000 10,000

10. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
At 1 April 84,658 78,177
Advances 96,610 60,463
Repayments (29,620) (53,982)
At 31 March 151,648 84,658

The amounts owed by directors is charged interest at HMRC's approved beneficiary loan interest rate.