Caseware UK (AP4) 2023.0.135 2023.0.135 2023-09-302023-09-305The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-10-01falseoperation of rental properties and property development5truetrue 02468439 2022-10-01 2023-09-30 02468439 2021-10-01 2022-09-30 02468439 2023-09-30 02468439 2022-09-30 02468439 2021-10-01 02468439 c:Director2 2022-10-01 2023-09-30 02468439 d:Buildings 2022-10-01 2023-09-30 02468439 d:Buildings 2023-09-30 02468439 d:Buildings 2022-09-30 02468439 d:Buildings d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 02468439 d:MotorVehicles 2022-10-01 2023-09-30 02468439 d:MotorVehicles 2023-09-30 02468439 d:MotorVehicles 2022-09-30 02468439 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 02468439 d:FurnitureFittings 2022-10-01 2023-09-30 02468439 d:FurnitureFittings 2023-09-30 02468439 d:FurnitureFittings 2022-09-30 02468439 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 02468439 d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 02468439 d:FreeholdInvestmentProperty 2022-10-01 2023-09-30 02468439 d:FreeholdInvestmentProperty 2023-09-30 02468439 d:FreeholdInvestmentProperty 2022-09-30 02468439 d:CurrentFinancialInstruments 2023-09-30 02468439 d:CurrentFinancialInstruments 2022-09-30 02468439 d:Non-currentFinancialInstruments 2023-09-30 02468439 d:Non-currentFinancialInstruments 2022-09-30 02468439 d:Non-currentFinancialInstruments 1 2023-09-30 02468439 d:Non-currentFinancialInstruments 1 2022-09-30 02468439 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 02468439 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 02468439 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 02468439 d:Non-currentFinancialInstruments d:AfterOneYear 2022-09-30 02468439 d:ShareCapital 2022-10-01 2023-09-30 02468439 d:ShareCapital 2023-09-30 02468439 d:ShareCapital 2021-10-01 2022-09-30 02468439 d:ShareCapital 2022-09-30 02468439 d:ShareCapital 2021-10-01 02468439 d:SharePremium 2022-10-01 2023-09-30 02468439 d:SharePremium 2023-09-30 02468439 d:SharePremium 2021-10-01 2022-09-30 02468439 d:SharePremium 2022-09-30 02468439 d:SharePremium 2021-10-01 02468439 d:RevaluationReserve 2022-10-01 2023-09-30 02468439 d:RevaluationReserve 2023-09-30 02468439 d:RevaluationReserve 2021-10-01 2022-09-30 02468439 d:RevaluationReserve 2022-09-30 02468439 d:RevaluationReserve 2021-10-01 02468439 d:RetainedEarningsAccumulatedLosses 2022-10-01 2023-09-30 02468439 d:RetainedEarningsAccumulatedLosses 2023-09-30 02468439 d:RetainedEarningsAccumulatedLosses 2021-10-01 2022-09-30 02468439 d:RetainedEarningsAccumulatedLosses 2022-09-30 02468439 d:RetainedEarningsAccumulatedLosses 2021-10-01 02468439 c:FRS102 2022-10-01 2023-09-30 02468439 c:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 02468439 c:FullAccounts 2022-10-01 2023-09-30 02468439 c:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 02468439 d:AcceleratedTaxDepreciationDeferredTax 2023-09-30 02468439 d:AcceleratedTaxDepreciationDeferredTax 2022-09-30 02468439 d:TaxLossesCarry-forwardsDeferredTax 2023-09-30 02468439 d:TaxLossesCarry-forwardsDeferredTax 2022-09-30 02468439 d:RetirementBenefitObligationsDeferredTax 2023-09-30 02468439 d:RetirementBenefitObligationsDeferredTax 2022-09-30 02468439 d:OtherDeferredTax 2023-09-30 02468439 d:OtherDeferredTax 2022-09-30 02468439 6 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure

Registered number: 02468439










JACK LOGGIN LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

 
JACK LOGGIN LIMITED
REGISTERED NUMBER: 02468439

BALANCE SHEET
AS AT 30 SEPTEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
5,649
328,963

Investments
 5 
-
1,310

Investment property
 6 
2,919,566
3,119,930

  
2,925,215
3,450,203

Current assets
  

Stocks
 7 
2,787,319
4,274,025

Debtors: amounts falling due within one year
 8 
910,506
45,716

Cash at bank and in hand
  
4,743,400
2,789,583

  
8,441,225
7,109,324

Creditors: amounts falling due within one year
 9 
(385,735)
(376,811)

Net current assets
  
 
 
8,055,490
 
 
6,732,513

Total assets less current liabilities
  
10,980,705
10,182,716

Creditors: amounts falling due after more than one year
 10 
(3,600,000)
(3,847,500)

Provisions for liabilities
  

Deferred tax
 11 
(210,703)
(467,374)

Net assets
  
7,170,002
5,867,842


Capital and reserves
  

Called up share capital 
  
151,312
151,312

Share premium account
  
550,000
550,000

Revaluation reserve
  
164,842
79,809

Profit and loss account
  
6,303,848
5,086,721

  
7,170,002
5,867,842


Page 1

 
JACK LOGGIN LIMITED
REGISTERED NUMBER: 02468439
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 February 2024.




P A Jacques
Director

The notes on pages 4 to 12 form part of these financial statements.

Page 2

 
JACK LOGGIN LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2023


Called up share capital
Share premium account
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£
£


At 1 October 2021
151,312
550,000
79,809
5,663,853
6,444,974


Comprehensive income for the year

Loss for the year
-
-
-
(307,132)
(307,132)
Total comprehensive income for the year
-
-
-
(307,132)
(307,132)


Contributions by and distributions to owners

Dividends: Equity capital
-
-
-
(270,000)
(270,000)


Total transactions with owners
-
-
-
(270,000)
(270,000)



At 1 October 2022
151,312
550,000
79,809
5,086,721
5,867,842


Comprehensive income for the year

Profit for the year
-
-
-
1,302,160
1,302,160
Total comprehensive income for the year
-
-
-
1,302,160
1,302,160

Transfer to/from profit and loss account
-
-
85,033
(85,033)
-


Total transactions with owners
-
-
85,033
(85,033)
-


At 30 September 2023
151,312
550,000
164,842
6,303,848
7,170,002


The notes on pages 4 to 12 form part of these financial statements.

Page 3

 
JACK LOGGIN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.


General information

Jack Loggin Limited is a private company limited by shares, incorporated in England and Wales (registered number: 02468439). Its registered office is Prior Park House, Prior Park Lane, Ashby-De-La-Zouch, Leicestershire, England, LE65 1BH. The principal activity of the Company continued to be the operation of rental properties and property development.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue recognition

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 4

 
JACK LOGGIN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Current and deferred taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
JACK LOGGIN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

The depreciation rates used are:

Freehold property
-
50 years straight line
Motor vehicles
-
4 years straight line
Fixtures and fittings
-
7 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 6

 
JACK LOGGIN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.10

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction,  the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
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.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2022 - 5).

Page 7

 
JACK LOGGIN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

4.


Tangible fixed assets





Freehold property
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost


At 1 October 2022
397,146
7,365
607,934
1,012,445


Additions
-
-
2,368
2,368


Disposals
(397,146)
-
(21,048)
(418,194)



At 30 September 2023

-
7,365
589,254
596,619



Depreciation


At 1 October 2022
78,812
7,365
597,305
683,482


Charge for the year on owned assets
-
-
2,670
2,670


Disposals
(78,812)
-
(16,370)
(95,182)



At 30 September 2023

-
7,365
583,605
590,970



Net book value



At 30 September 2023
-
-
5,649
5,649



At 30 September 2022
318,334
-
10,629
328,963

Page 8

 
JACK LOGGIN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost


At 1 October 2022
1,310


Disposals
(1,310)



At 30 September 2023

-






Net book value



At 30 September 2023
-



At 30 September 2022
1,310


6.


Investment property


Freehold investment property

£



Valuation


At 1 October 2022
3,119,930


Additions at cost
1,534,266


Disposals
(1,734,630)



At 30 September 2023
2,919,566

The 2023 valuations were made by the directors, on an open market value for existing use basis.






Page 9

 
JACK LOGGIN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

7.


Stocks

2023
2022
£
£

Stock of properties & goods held for resale
2,787,319
4,274,025



8.


Debtors

2023
2022
£
£


Trade debtors
639
2,124

Other debtors
895,567
15,288

Prepayments and accrued income
14,300
28,304

910,506
45,716



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
42,949
149,649

Amounts owed to group undertakings
740
740

Corporation tax
125,507
-

Other taxation and social security
5,809
4,341

Other creditors
471
8,012

Accruals and deferred income
210,259
214,069

385,735
376,811


Page 10

 
JACK LOGGIN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

10.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other creditors
-
247,500

Share capital treated as debt
3,600,000
3,600,000

3,600,000
3,847,500


The share capital treated as debt comprises 3,600,000 redeemable Preference Shares of £1 each fully paid at par, which have a cumulative dividend of 6.25% per annum but no voting rights. The Preference Shares shall be redeemed at the latest in November 2029. Dividends accruing on these shares during the year totalled £225,000 (2022: £225,000).

The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:

2023
2022
£
£


Repayable other than by instalments
3,600,000
3,600,000




11.


Deferred taxation




2023
2022


£

£






At beginning of year
467,374
485,052


Charged to profit or loss
(256,671)
(17,678)



At end of year
210,703
467,374

Page 11

 
JACK LOGGIN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
 
11.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(12,551)
91,409

Roll over chargeable gains
223,254
1,481

Revaluation of properties
-
395,217

Tax losses carried forward
-
(20,705)

Movement in provisions
-
(28)

210,703
467,374


12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £1,321 (2022: £1,308). Contributions totalling £257 (2022 - £257) were payable to the fund at the balance sheet date and are included in creditors.


13.


Related party transactions

At 30 September 2023 the sum of £225,000 (2022: £247,500) was due in aggregate to the directors by way of directors' loan accounts. Interest totalling £nil (2022: £nil) was paid on the balances.

 
Page 12