Year Ended
Registration number:
JVS Holdings Limited
Contents
Balance Sheet |
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Notes to the Unaudited Financial Statements |
JVS Holdings Limited
Balance Sheet
29 February 2024
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2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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JVS Holdings Limited
Balance Sheet
29 February 2024
For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Company Registration Number: 03729948
JVS Holdings Limited
Notes to the Unaudited Financial Statements
Year Ended 29 February 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal place of business is:
The Gardens
Tweentown
Cheddar
Somerset
BS27 3JE
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Revenue consists of rental income and is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measued as the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.
JVS Holdings Limited
Notes to the Unaudited Financial Statements
Year Ended 29 February 2024
Tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
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 assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office Equipment |
25% straight line |
Investment property
JVS Holdings Limited
Notes to the Unaudited Financial Statements
Year Ended 29 February 2024
Financial instruments
Classification
• Short term trade and other debtors and creditors; and
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Office equipment |
Total |
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Cost or valuation |
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At 1 March 2023 |
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At 29 February 2024 |
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Depreciation |
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At 1 March 2023 |
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Charge for the year |
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At 29 February 2024 |
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Carrying amount |
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At 29 February 2024 |
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At 28 February 2023 |
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JVS Holdings Limited
Notes to the Unaudited Financial Statements
Year Ended 29 February 2024
Investment properties |
2024 |
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At 1 March 2023 |
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Disposals |
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At 29 February 2024 |
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Investment property is carried at fair value determined annually by the Directors. No depreciation is provided. Changes in fair value are recognised in the Statement of Income and Retained Earnings.
Debtors |
2024 |
2023 |
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Prepayments |
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Other debtors |
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- |
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Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
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Due within one year |
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Accruals and deferred income |
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Other creditors |
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JVS Holdings Limited
Notes to the Unaudited Financial Statements
Year Ended 29 February 2024
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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901 |
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901 |
Related party transactions |
Transactions with directors |
2024 |
At 1 March 2023 |
Advances to director |
At 29 February 2024 |
Loans provided interest free and repayable on demand |
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Reserves |
Included in the profit and loss reserve of £1,507,300 (2023 - £1,565,638) is £806,094 (2023 - £971,142) of non-distributable revaluation gains on investment property.