Company registration number 00741220 (England and Wales)
JACKSONVILLA INVESTMENTS (LIVERPOOL) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
JACKSONVILLA INVESTMENTS (LIVERPOOL) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
JACKSONVILLA INVESTMENTS (LIVERPOOL) LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
31 March 2023
31 December 2021
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,203
1,750
Investment property
5
511,193
511,193
512,396
512,943
Current assets
Debtors
6
4,053
1,858
Cash at bank and in hand
90,378
59,187
94,431
61,045
Creditors: amounts falling due within one year
7
(17,408)
(8,039)
Net current assets
77,023
53,006
Net assets
589,419
565,949
Capital and reserves
Called up share capital
8
500
500
Profit and loss reserves
588,919
565,449
Total equity
589,419
565,949

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

For the financial period ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period 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.

The financial statements were approved by the board of directors and authorised for issue on 16 October 2023 and are signed on its behalf by:
L L Albert
Director
Company registration number 00741220 (England and Wales)
JACKSONVILLA INVESTMENTS (LIVERPOOL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023
- 2 -
1
Accounting policies
Company information

Jacksonvilla Investments (Liverpool) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 509 - 510 Cotton Exchange, Bixteth Street, Liverpool, L3 9LQ.

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
Reporting period

[ FRS 102 3.10 An entity shall present a complete set of financial statements (including comparative information as set out in paragraph 3.14) at least annually. When the end of an entity’s reporting period changes and the annual financial statements are presented for a period longer or shorter than one year, the entity shall disclose the following: (a) that fact; (b) the reason for using a longer or shorter period; and (c) the fact that comparative amounts presented in the financial statements (including the related notes) are not entirely comparable. ]

1.3
Turnover

Turnover represents amounts receivable for rent and other property services.

1.4
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:

Plant and equipment
25% reducing balance
Fixtures and fittings
25% reducing balance
Computers
25% 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.

1.5
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. Changes in fair value are recognised in profit or loss.

JACKSONVILLA INVESTMENTS (LIVERPOOL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 3 -
1.6
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). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
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.

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 cost.

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.

 

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.

1.9
Taxation

The tax expense represents the tax currently payable.

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.

JACKSONVILLA INVESTMENTS (LIVERPOOL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

 

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2023
2021
Number
Number
Total
2
2
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2022 and 31 March 2023
33,472
Depreciation and impairment
At 1 January 2022
31,722
Depreciation charged in the period
547
At 31 March 2023
32,269
Carrying amount
At 31 March 2023
1,203
At 31 December 2021
1,750
JACKSONVILLA INVESTMENTS (LIVERPOOL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2023
- 5 -
5
Investment property
2023
£
Fair value
At 1 January 2022 and 31 March 2023
511,193

Investment property comprises residential properties from which the company earns monthly rentals. The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31 December 2021 by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

6
Debtors
2023
2021
Amounts falling due within one year:
£
£
Trade debtors
3,026
1,858
Other debtors
1,027
-
0
4,053
1,858
7
Creditors: amounts falling due within one year
2023
2021
£
£
Taxation and social security
5,993
(1,755)
Other creditors
11,415
9,794
17,408
8,039
8
Called up share capital
2023
2021
2023
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
ordinary shares of £1 each
500
500
500
500
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