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REGISTERED NUMBER: 09008832 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Jet Investments Limited

Jet Investments Limited (Registered number: 09008832)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

Jet Investments Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: J L Taylor
S Taylor
J E Taylor
E L Taylor





REGISTERED OFFICE: 9 Great Chesterford Court
London Road
Great Chesterford
Essex
CB10 1PF





REGISTERED NUMBER: 09008832 (England and Wales)





ACCOUNTANTS: Lanham and Company Limited
Chartered Accountants
9 Great Chesterford Court
London Road
Great Chesterford
Essex
CB10 1PF

Jet Investments Limited (Registered number: 09008832)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Investments 4 70,160 100,100
Investment property 5 9,513,132 6,039,132
9,583,292 6,139,232

CURRENT ASSETS
Stocks 4,571,086 6,400,953
Debtors 6 1,335,737 598,263
Investments 7 19,207,842 23,685,674
Cash at bank 57,215 156,168
25,171,880 30,841,058
CREDITORS
Amounts falling due within one year 8 265,178 117,838
NET CURRENT ASSETS 24,906,702 30,723,220
TOTAL ASSETS LESS CURRENT
LIABILITIES

34,489,994

36,862,452

CREDITORS
Amounts falling due after more than one
year

9

34,511,998

37,371,050
NET LIABILITIES (22,004 ) (508,598 )

CAPITAL AND RESERVES
Called up share capital 11 100 100
Fair value reserve 12 (200,899 ) (748,535 )
Retained earnings 178,795 239,837
SHAREHOLDERS' FUNDS (22,004 ) (508,598 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Jet Investments Limited (Registered number: 09008832)

Balance Sheet - continued
31 March 2024


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

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 12 August 2024 and were signed on its behalf by:





S Taylor - Director


Jet Investments Limited (Registered number: 09008832)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Jet Investments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the sale of development property is recognised on unconditional exchange of contracts.

Revenue from the rendering of services is only recognised when the outcome of a transaction can be estimated reliably and is then recognised according to the stage of completion of the transaction at the end of the reporting period.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date and changes in fair value are recognised in profit or loss.

In order to ascertain the fair value at each reporting date, investment properties have been valued using an open market valuation on a freehold basis subject to the existing tenancies. Revaluations are conducted annually by the directors.

Revenue from operating leases is recognised on a straight-line basis over the lease term. The aggregate cost of any lease incentives provided is recognised as a reduction to the revenue recognised on a straight-line basis.

Stocks
Work in progress is valued at the lower of cost and estimated selling price less costs to complete and sell. Cost includes purchase price, stamp duty land tax, legal fees and other costs attributable to the acquisition of development property, and costs directly incurred in construction or conversion of the property to its finished state ready for sale.

Jet Investments Limited (Registered number: 09008832)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Trade debtors and creditors are classed as basic financial instruments and are initially measured at transaction price.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and short-term deposits with an original maturity date of three months or less.

Loans and borrowings are classified as basic financial instruments and are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument, unless exempt from such treatment.

Investments that are publicly traded are initially measured at transaction price. Subsequently they are measured at fair value with changes in fair value recognised the profit or loss. Other investments are recognised at cost less impairment.

Revenue from interest bearing investments is recognised on an accrual basis. Revenue from dividends is recognised when the the right to receive payment is established.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

Jet Investments Limited (Registered number: 09008832)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. FIXED ASSET INVESTMENTS

31.3.24 31.3.23
£    £   
Shares in group undertakings 160 100
Loans to undertakings in which the company
has a participating interest

70,000

100,000
70,160 100,100

Additional information is as follows:
Shares in
group
undertakings
£   
COST
At 1 April 2023 100
Additions 60
At 31 March 2024 160
NET BOOK VALUE
At 31 March 2024 160
At 31 March 2023 100
Loans to
associates
£   
At 1 April 2023 100,000
Repayment in year (30,000 )
At 31 March 2024 70,000

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 6,039,132
Additions 3,474,000
At 31 March 2024 9,513,132
NET BOOK VALUE
At 31 March 2024 9,513,132
At 31 March 2023 6,039,132

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2023 (310,000 )
Cost 9,823,132
9,513,132

Investment property was valued on an open market basis on 31 March 2024 by the directors .

Jet Investments Limited (Registered number: 09008832)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. DEBTORS
31.3.24 31.3.23
£    £   
Amounts falling due within one year:
Trade debtors 168 2,306
Amounts owed by group undertakings 400 400
Other debtors 967,756 354,328
968,324 357,034

Amounts falling due after more than one year:
Other debtors 367,413 241,229

Aggregate amounts 1,335,737 598,263

Deferred tax asset
31.3.24 31.3.23
£    £   
Tax losses carried forward 300,446 76,642
Other timing differences 66,967 164,587
367,413 241,229

7. CURRENT ASSET INVESTMENTS
31.3.24 31.3.23
£    £   
Listed investments 19,207,842 22,971,674
Unlisted investments - 714,000
19,207,842 23,685,674

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 94,980 26,716
Taxation and social security 143,065 67,712
Other creditors 27,133 23,410
265,178 117,838

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Other creditors 34,511,998 37,371,050

10. DEFERRED TAX
£   
Balance at 1 April 2023 (241,229 )
Credit to Income Statement during year (126,184 )
Balance at 31 March 2024 (367,413 )

Jet Investments Limited (Registered number: 09008832)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100

12. RESERVES
Fair
value
reserve
£   
At 1 April 2023 (748,535 )
Fair value transfer 547,636

At 31 March 2024 (200,899 )

13. RELATED PARTY DISCLOSURES

During the year the company had an interest free loan from its controlling party. The total owed by the company at the year end was £34,511,998 (2023: £37,371,050).

During the year the company made interest free loans to other companies under the same control. The total owed to the company at the year end was £723,178 (2023: £1,352).

14. ULTIMATE CONTROLLING PARTY

The controlling party is S Taylor.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Jet Investments Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Jet Investments Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Jet Investments Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Jet Investments Limited and state those matters that we have agreed to state to the Board of Directors of Jet Investments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Jet Investments Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Jet Investments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Jet Investments Limited. You consider that Jet Investments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Jet Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Lanham and Company Limited
Chartered Accountants
9 Great Chesterford Court
London Road
Great Chesterford
Essex
CB10 1PF


12 August 2024