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COMPANY REGISTRATION NUMBER: 13909767
JGH (London) Limited
Filleted Unaudited Financial Statements
31 May 2023
JGH (London) Limited
Statement of Financial Position
31 May 2023
31 May 23
Note
£
£
Current assets
Debtors
4
23,600
Cash at bank and in hand
699
--------
24,299
Creditors: amounts falling due within one year
5
30,674
--------
Net current liabilities
6,375
-------
Total assets less current liabilities
( 6,375)
-------
Net liabilities
( 6,375)
-------
Capital and reserves
Called up share capital
1
Profit and loss account
( 6,376)
-------
Shareholders deficit
( 6,375)
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 31 October 2023 , and are signed on behalf of the board by:
Mr S A Jumani
Mr M D Curtis
Director
Director
Company registration number: 13909767
JGH (London) Limited
Notes to the Financial Statements
Period from 11 February 2022 to 31 May 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 30 Woodsford Square, London, W14 8DP, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on the going concern basis after taking into account the excess of liabilities over assets at the balance sheet date, as we believe that adequate cash resources will be available to cover the company's requirements for working capital and capital expenditure for at least the next twelve months. In this regard we confirm that the required financial support will continue to be provided by the director. We are not aware of any other factors which could put into jeopardy the company's going concern status during or beyond this period.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:
Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to related parties. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.
Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, 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. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.
4. Debtors
31 May 23
£
Other debtors
23,600
--------
5. Creditors: amounts falling due within one year
31 May 23
£
Amounts owed to group undertakings
5,100
Accruals and deferred income
3,500
Director loan accounts
22,074
--------
30,674
--------
6. Events after the end of the reporting period
The company purchased investment properties £5.02M after the balance sheet date.
7. Related party transactions
1) Included in creditors due within one year, is a balance of £22,074 owed to the directors. No interest is charged in respect of this balance. 2) The company has taken advantage of the exemption provided in FRS 102 Section 1A from disclosing transactions with members of the same group that are wholly owned.