REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2022 |
for |
JLC (UK) SG LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2022 |
for |
JLC (UK) SG LIMITED |
JLC (UK) SG LIMITED (Registered number: 09175015) |
Contents of the Financial Statements |
for the Year Ended 31 December 2022 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
JLC (UK) SG LIMITED |
Company Information |
for the Year Ended 31 December 2022 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
JLC (UK) SG LIMITED (Registered number: 09175015) |
Statement of Financial Position |
31 December 2022 |
31.12.22 | 31.12.21 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
The directors acknowledge their 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
JLC (UK) SG LIMITED (Registered number: 09175015) |
Notes to the Financial Statements |
for the Year Ended 31 December 2022 |
1. | STATUTORY INFORMATION |
JLC (UK) SG LIMITED is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared under the historical cost convention. In accordance with FRS 102, the Company has taken advantage of the exemptions from the following disclosure requirements; |
- Section 26 'Share based Payment' |
- Section 11 'Basic Financial Instruments' & Section 12 'Other Financial Instrument Issues' |
- Section 7 'Statement of Cash Flows' |
- Section 33 'Related Party Disclosures' - Compensation for key management personnel |
Turnover |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Financial instruments |
The Company has elected to apply the provisions of Sections 11 and 12 of FRS 102, in full, to all of its financial instruments. |
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument. |
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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
JLC (UK) SG LIMITED (Registered number: 09175015) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2022 |
2. | ACCOUNTING POLICIES - continued |
Going concern |
Management produces forecasts which are regularly reviewed to reflect the current economic environment, the effects of the war in Ukraine and its impact on the global economy, together with other macro events and factors. |
These forecasts are then reviewed by the directors to ensure that the Company will produce adequate profits and will generate sufficient cash reserves to enable the Company to meet its obligations as they fall due for at least a period of 12 months from the date of signing of these financial statements. |
As such, the directors are satisfied that the Company has adequate resources to continue to operate for the foreseeable future. For this reason they continue to adopt the going concern basis for preparing these financial statements |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.22 | 31.12.21 |
£ | £ |
Trade debtors |
Other debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.22 | 31.12.21 |
£ | £ |
Trade creditors |
Amounts owed to associates | 56,577 | 54,637 |
Taxation and social security |
6. | RELATED PARTY DISCLOSURES |
The Directors of this Company are also Directors of another Company, Hamilton Hotel Partners Limited which trades in similar activities and has a trading relationship with this Company. |
Hamilton Hotel Partners Limited owns 50 Ordinary shares of £1 each in this Company. |
The value of the services charged to the Company by Hamilton Hotel Partners Limited in the accounting period amounted to £138,000 (2021 £138,000). This includes £33,577 which was due at the Balance Sheet date. |
Costes Etudes Et Projets SAS owns 50 Ordinary shares of £1 each in this Company. |
The value of the services charged to the Company by Costes Etudes Et Projets SAS in the accounting period amounted to £138,000 (2021 £138,000). This includes £23,000 which was due at the Balance Sheet date. |