Silverfin false 05/04/2023 06/04/2022 05/04/2023 E A R Jaye 08/06/1999 A I Jaye 29/11/1999 N Jaye 01/09/2019 02 February 2024 The principle activity of the Company during the financial year was that of property rental. 00590196 2023-04-05 00590196 bus:Director1 2023-04-05 00590196 bus:Director2 2023-04-05 00590196 bus:Director3 2023-04-05 00590196 2022-04-05 00590196 core:CurrentFinancialInstruments 2023-04-05 00590196 core:CurrentFinancialInstruments 2022-04-05 00590196 core:ShareCapital 2023-04-05 00590196 core:ShareCapital 2022-04-05 00590196 core:RetainedEarningsAccumulatedLosses 2023-04-05 00590196 core:RetainedEarningsAccumulatedLosses 2022-04-05 00590196 core:OtherPropertyPlantEquipment 2022-04-05 00590196 core:OtherPropertyPlantEquipment 2023-04-05 00590196 2021-04-05 00590196 bus:OrdinaryShareClass1 2023-04-05 00590196 2022-04-06 2023-04-05 00590196 bus:FullAccounts 2022-04-06 2023-04-05 00590196 bus:SmallEntities 2022-04-06 2023-04-05 00590196 bus:AuditExemptWithAccountantsReport 2022-04-06 2023-04-05 00590196 bus:PrivateLimitedCompanyLtd 2022-04-06 2023-04-05 00590196 bus:Director1 2022-04-06 2023-04-05 00590196 bus:Director2 2022-04-06 2023-04-05 00590196 bus:Director3 2022-04-06 2023-04-05 00590196 core:OtherPropertyPlantEquipment core:TopRangeValue 2022-04-06 2023-04-05 00590196 2021-04-06 2022-04-05 00590196 core:OtherPropertyPlantEquipment 2022-04-06 2023-04-05 00590196 bus:OrdinaryShareClass1 2022-04-06 2023-04-05 00590196 bus:OrdinaryShareClass1 2021-04-06 2022-04-05 iso4217:GBP xbrli:pure xbrli:shares

Company No: 00590196 (England and Wales)

SAM JACKS INVESTMENT CO. LIMITED

Unaudited Financial Statements
For the financial year ended 05 April 2023
Pages for filing with the registrar

SAM JACKS INVESTMENT CO. LIMITED

Unaudited Financial Statements

For the financial year ended 05 April 2023

Contents

SAM JACKS INVESTMENT CO. LIMITED

STATEMENT OF FINANCIAL POSITION

As at 05 April 2023
SAM JACKS INVESTMENT CO. LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 05 April 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 7,088 0
Investment property 4 615,000 615,000
622,088 615,000
Current assets
Debtors 5 412,821 483,494
412,821 483,494
Creditors: amounts falling due within one year 6 ( 3,240) ( 5,509)
Net current assets 409,581 477,985
Total assets less current liabilities 1,031,669 1,092,985
Provision for liabilities 7 ( 118,937) ( 90,392)
Net assets 912,732 1,002,593
Capital and reserves
Called-up share capital 8 9,000 9,000
Profit and loss account 903,732 993,593
Total shareholder's funds 912,732 1,002,593

For the financial year ending 05 April 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 Sam Jacks Investment Co. Limited (registered number: 00590196) were approved and authorised for issue by the Director. They were signed on its behalf by:

N Jaye
Director

02 February 2024

SAM JACKS INVESTMENT CO. LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 05 April 2023
SAM JACKS INVESTMENT CO. LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 05 April 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

Sam Jacks Investment Co. 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 35 Ballards Lane, London, N3 1XW, United Kingdom.

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 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 £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises of rental income and is recognised in the period to which the rental income relates.

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 Statement of Financial Position 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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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 or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 5 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.

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.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, 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.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings/Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, 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 receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally 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.

2. Employees

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

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 06 April 2022 0 0
Additions 8,343 8,343
At 05 April 2023 8,343 8,343
Accumulated depreciation
At 06 April 2022 0 0
Charge for the financial year 1,255 1,255
At 05 April 2023 1,255 1,255
Net book value
At 05 April 2023 7,088 7,088
At 05 April 2022 0 0

4. Investment property

Investment property
£
Valuation
As at 06 April 2022 615,000
As at 05 April 2023 615,000

5. Debtors

2023 2022
£ £
Amounts owed by Group undertakings 412,821 483,494

6. Creditors: amounts falling due within one year

2023 2022
£ £
Accruals 1,620 3,200
Taxation and social security 0 2,309
Other creditors 1,620 0
3,240 5,509

7. Deferred tax

2023 2022
£ £
At the beginning of financial year ( 90,392) ( 45,327)
Charged to the Profit and Loss Account ( 28,545) ( 45,065)
At the end of financial year ( 118,937) ( 90,392)

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
9,000 Ordinary shares of £ 1.00 each 9,000 9,000