JAVIAN LTD

Company Registration Number:
NI685355 (Northern Ireland)

Unaudited abridged accounts for the year ended 31 March 2023

Period of accounts

Start date: 28 January 2022

End date: 31 March 2023

JAVIAN LTD

Contents of the Financial Statements

for the Period Ended 31 March 2023

Balance sheet
Notes

JAVIAN LTD

Balance sheet

As at 31 March 2023


Notes

14 months to 31 March 2023


£
Called up share capital not paid: 0
Fixed assets
Intangible assets: 3 2,404,709
Tangible assets: 4 77,081
Investments: 5 1
Total fixed assets: 2,481,791
Current assets
Stocks: 9,787,759
Debtors:   31,532,981
Cash at bank and in hand: 227,093
Total current assets: 41,547,833
Creditors: amounts falling due within one year:   (2,377,032)
Net current assets (liabilities): 39,170,801
Total assets less current liabilities: 41,652,592
Creditors: amounts falling due after more than one year:   (1,287,868)
Provision for liabilities: (68,701)
Total net assets (liabilities): 40,296,023
Capital and reserves
Called up share capital: 27,124,000
Profit and loss account: 13,172,023
Shareholders funds: 40,296,023

The notes form part of these financial statements

JAVIAN LTD

Balance sheet statements

For the year ending 31 March 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 04 April 2024
and signed on behalf of the board by:

Name: A L Fraser
Status: Director

The notes form part of these financial statements

JAVIAN LTD

Notes to the Financial Statements

for the Period Ended 31 March 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on completions); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets and depreciation policy

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss. Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Plant and machinery at 20 per cent straight line per annum, Fixtures and fittings at 20 per cent and 33 per cent straight line per annum and Motor vehicles at 20 per cent straight line per annum.

Intangible fixed assets and amortisation policy

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years. Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset at rate of 10 per cent straight line per annum. If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Valuation and information policy

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition. At the end of each reporting period, stocks and work in progress are assessed for impairment. If an element or elements of stock are impaired, that item is measured at it selling price less costs to complete and sell, and an impairment loss is recognised. Impairment of fixed assets. A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash generating unit to which the asset belongs. The cash generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Other accounting policies

The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention modified to include certain items at fair value Going concern The Directors have reviewed the resources available and believe that the company has adequate resources to continue in operational existence for the foreseeable future Accordingly the company continues to adopt the going concern basis in preparing the financial statements Consolidation The company has taken advantage of the option not to prepare consolidated financial statements on the basis that the company and its subsidiary undertakings comprise a small group Financial instruments The Company enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors creditors hire purchase agreements and loans from banks Investments held by the company are measured at fair value with changes in fair value recognised in profit or loss. Judgements and key sources of estimation uncertainty In the process of applying the accounting policies management has not made any significant judgements There are no key assumptions concerning the future or other key sources of estimation that have significant risk of raising a material adjustment to the carrying amount of assets and liabilities within the financial period Income tax The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period Tax is recognised in profit or loss except to the extent that it relates to items recognised in other comprehensive income or directly in equity In this case tax is recognised in other comprehensive income or directly in equity respectively Current tax is recognised on taxable profit for the current and past periods Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date Deferred tax is recognised in respect of all timing differences at the reporting date Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits

JAVIAN LTD

Notes to the Financial Statements

for the Period Ended 31 March 2023

2. Employees

14 months to 31 March 2023
Average number of employees during the period 3

JAVIAN LTD

Notes to the Financial Statements

for the Period Ended 31 March 2023

3. Intangible Assets

Total
Cost £
Additions 2,722,312
At 31 March 2023 2,722,312
Amortisation
Charge for year 317,603
At 31 March 2023 317,603
Net book value
At 31 March 2023 2,404,709

JAVIAN LTD

Notes to the Financial Statements

for the Period Ended 31 March 2023

4. Tangible Assets

Total
Cost £
Transfers 101,430
At 31 March 2023 101,430
Depreciation
Charge for year 24,349
At 31 March 2023 24,349
Net book value
At 31 March 2023 77,081

JAVIAN LTD

Notes to the Financial Statements

for the Period Ended 31 March 2023

5. Fixed investments

Addition in shares of group undertaking of £1 in period

JAVIAN LTD

Notes to the Financial Statements

for the Period Ended 31 March 2023

6. Loans to directors

The company is under the control of A F M Fraser