REGISTERED NUMBER: |
Audited Financial Statements |
for the Year Ended |
31 March 2024 |
for |
Jay Allied Assets Limited |
REGISTERED NUMBER: |
Audited Financial Statements |
for the Year Ended |
31 March 2024 |
for |
Jay Allied Assets Limited |
Jay Allied Assets Limited (Registered number: 00848778) |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Jay Allied Assets Limited |
Company Information |
for the Year Ended 31 March 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
Statutory Auditors |
Church Court |
Stourbridge Road |
Halesowen |
West Midlands |
B63 3TT |
Jay Allied Assets Limited (Registered number: 00848778) |
Balance Sheet |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Jay Allied Assets Limited (Registered number: 00848778) |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
Jay Allied Assets Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net rental income receivable, excluding value added tax. |
Income is recognised when the risks and rewards of ownership have been transferred to tenants. This is taken to be the date rent is due in respect of each unit under the terms of the lease. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Fixed asset investments |
Fixed asset investments, which comprise investment properties and a portfolio of shares, are included in the financial statements at cost. This policy is not in accordance with FRS 102 which requires investments to be stated at their most recent valuation. The effects of non-compliance on the financial statements is included in the Report of the Independent Auditors and a qualified opinion has been given in this respect. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Jay Allied Assets Limited (Registered number: 00848778) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and |
machinery | fittings | Totals |
£ | £ | £ |
COST |
At 1 April 2023 |
Disposals | ( |
) | ( |
) |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 April 2023 |
Disposals | ( |
) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
Fixed asset investments, which relate to a portfolio of shares, are included in the financial statements at cost, but have not been revalued to their market value at the balance sheet date. This does not comply with the requirements of FRS 102. |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2023 |
Disposals | ( |
) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
Investment property is included in the financial statements at cost. This does not comply with FRS 102 which requires investment properties to be included at their most recent valuation. |
Jay Allied Assets Limited (Registered number: 00848778) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
10. | RELATED PARTY DISCLOSURES |
At 31 March 2023 the company owed £500,000 (2022 - £200,000) to its directors. |
11. | ULTIMATE PARENT COMPANY |
The ultimate parent co is Jay Allied Assets (Holdings) Limited |