Registration number:
Jade Capital Ltd
for the Year Ended 31 March 2023
Jade Capital Ltd
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Jade Capital Ltd
Company Information
Directors |
Mr N J R Aston Mrs L J Aston |
Registered office |
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Accountants |
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Jade Capital Ltd
(Registration number: 11901408)
Balance Sheet as at 31 March 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Investments |
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Current assets |
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Debtors |
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Other financial assets |
322,603 |
146,295 |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net current assets/(liabilities) |
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( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Fair value reserve |
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Profit and loss account |
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Total equity |
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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:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
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Jade Capital Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales .
The address of its registered office is:
United Kingdom
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are presented in Pound Sterling, which is the functional currency of the company.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Foreign currency transactions and balances
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Jade Capital Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Fixtures and fittings |
20% Straight Line |
Office equipment |
33% Straight Line |
Investment property
Investment properties whose fair value cannot be measured reliably on an on-going basis are included in plant, property and equipment at cost less accumulated depreciation and accumulated impairment losses.
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.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Jade Capital Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
Financial instruments
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 April 2022 |
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At 31 March 2023 |
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Depreciation |
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At 1 April 2022 |
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Charge for the year |
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At 31 March 2023 |
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Carrying amount |
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At 31 March 2023 |
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At 31 March 2022 |
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Jade Capital Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
Investment properties |
2023 |
2022 |
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At 1 April 2022 |
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Fair value adjustments |
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At 31 March 2023 |
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The investment property was revalued on 31 March 2023 at fair value by the director of the company who is not a professionally qualified valuer. In the opinion of the director, the fair value of the investment property is £1,200,000 as at 31 March 2023.
There has been no valuation of the investment property by an independent valuer.
The historic cost of the investment property is £1,157,470 (2022 - £1,157,470). The depreciation on this historic cost is £Nil (2022 - £Nil).
Investments |
2023 |
2022 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 April 2022 |
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Carrying amount |
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At 31 March 2023 |
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At 31 March 2022 |
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Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Jade Capital Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2023 |
2022 |
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Subsidiary undertakings |
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19 Back Lane
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Subsidiary undertakings
Hampstead Land Ltd
The principal activity of Hampstead Land Ltd is development of building projects. Its financial period end is 30 June. The last accounts prepared was for the year ended 30 June 2022. The loss for the financial period June 2022 was (£1,203) and the aggregate amount of capital and reserves at the end of the period was (£1,183).
Other financial assets |
Unlisted investments |
Total |
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Current financial assets |
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Cost or valuation |
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At 1 April 2022 |
146,295 |
146,295 |
Fair value adjustments |
67,076 |
67,076 |
Additions |
109,232 |
109,232 |
At 31 March 2023 |
322,603 |
322,603 |
Carrying amount |
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At 31 March 2023 |
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322,603 |
At 31 March 2022 |
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146,295 |
The historic cost of the unlisted investment is £204,616 (2022: £95,384).
Debtors |
Note |
2023 |
2022 |
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Trade debtors |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Prepayments and accrued income |
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Other debtors |
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Jade Capital Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
Details of other debtors
Other debtors includes two loans totaling £81,431 provided by the company. The interest receivable on these loans varies and payable on the redemption date.
The two loans do not have a fixed repayment date as at the balance sheet date. However, one of the loans has been partially repaid in June 2023.
Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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( |
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Corporation tax |
27,606 |
102,283 |
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Other related parties |
1,361,665 |
1,838,586 |
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Loans and borrowings |
2023 |
2022 |
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Non-current loans and borrowings |
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Bank borrowings |
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2023 |
2022 |
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Current loans and borrowings |
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Bank borrowings |
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Bank borrowings
One of the bank borrowings is secured by way of legal charge over the investment property owned by the company.
Jade Capital Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
Related party transactions |
Other transactions with directors |
Summary of transactions with all subsidiaries
Hampstead Land Ltd
50% subsidiary undertaking
The company is a 50% subsidiary undertaking of Hampstead Land Ltd which is a company registered in England. In addition, Mr N J R Aston is also director in Hampstead Land Ltd.
At the balance sheet date, the amount due from Hampstead Land Ltd was £121,815 (2022: £120,715).
The loan is interest free and repayable on demand.