Company registration number 08843670 (England and Wales)
JSGS INVESTMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
JSGS INVESTMENTS LIMITED
COMPANY INFORMATION
Directors
Mr G Rasalingam
Mrs J Gobu
Company number
08843670
Registered office
Days Eye
4 Newton's Orchard
Kilmington
Axminster
Devon
England
EX13 7UG
Accountants
Bush & Co Limited
2 Barnfield Crescent
Exeter
EX1 1QT
JSGS INVESTMENTS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
JSGS INVESTMENTS LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2023
31 August 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment properties
4
432,148
-
0
Current assets
Debtors
5
7,256
14,605
Cash at bank and in hand
23,524
523,903
30,780
538,508
Creditors: amounts falling due within one year
6
(8,221)
(47,588)
Net current assets
22,559
490,920
Net assets
454,707
490,920
Capital and reserves
Called up share capital
900
900
Capital redemption reserve
100
100
Retained earnings
453,707
489,920
Total equity
454,707
490,920

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 August 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 year 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.

JSGS INVESTMENTS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2023
31 August 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 22 April 2024 and are signed on its behalf by:
Mr G Rasalingam
Director
Company Registration No. 08843670
JSGS INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
- 3 -
1
Accounting policies
Company information

JSGS Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is Days Eye, 4 Newton's Orchard, Kilmington, Axminster, Devon, England, EX13 7UG.

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
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
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:

Computers
Straight line over 3 years

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.

JSGS INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
1
Accounting policies
(Continued)
- 4 -
1.4
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.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement 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.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

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

2023
2022
Number
Number
Total
2
8
JSGS INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 5 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2022
367
Disposals
(117)
At 31 August 2023
250
Depreciation and impairment
At 1 September 2022
367
Eliminated in respect of disposals
(117)
At 31 August 2023
250
Carrying amount
At 31 August 2023
-
0
At 31 August 2022
-
0
4
Investment property
2023
£
Fair value
At 1 September 2022
-
0
Additions
432,148
At 31 August 2023
432,148

The fair value of the investment properties has been arrived at on the basis of a valuation carried out by the director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
7,256
14,605
JSGS INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 6 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Taxation and social security
-
0
45,249
Other creditors
8,221
2,339
8,221
47,588
7
Related party transactions

At the year end the company owed the directors £1,277 (2022: directors owed the company £4,347). No interest is being charged on this balance and no repayment terms have been set.

2023-08-312022-09-01false22 April 2024CCH SoftwareCCH Accounts Production 2024.100The principal activity in the year was that of residential lettings.
Mr G RasalingamMrs J Gobufalsefalse
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