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Registered number: 00048139
JALLAND & CO.LIMITED
Financial statements
Information for filing with the registrar
For the year ended 31 December 2023
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JALLAND & CO.LIMITED
Registered number: 00048139
Balance sheet
As at 31 December 2023
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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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 by:
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SPD Akins
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The notes on pages 2 to 5 form part of these financial statements.
Page 1
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JALLAND & CO.LIMITED
Notes to the financial statements
For the year ended 31 December 2023
1.Accounting policies
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Basis of preparation of financial statements
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Jalland & Co Limited is a private company limited by shares and incorporated in England within the United Kingdom. The address of the registered office is given in the company information section of these financial statements. The company's registration number is 00048139. The company's place of business is located at St Mary's School, Plumptre Place, Nottingham, NG1 1LW.
The financial statements have been prepared on a going concern basis under the historical cost convention modified to include items at fair value. The financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A small entities, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006.
The financial statements are presented in sterling which is the functional currency of the company and have been rounded to the nearest £1.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
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Financial Reporting Standard 102 - reduced disclosure exemptions
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The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of SJC 15 Limited as at 31 December 2023 and these financial statements may be obtained from 2 Lace Market Square, Nottingham, NG1 1PB.
The financial statements have been prepared on a going concern basis notwithstanding net current liabilities. The directors of the ultimate parent undertaking, SJC 15 Limited, and its subsidiaries have indicated their agreement to continue to provide financial support to the company such that the company is able to continue to trade and meet its debts and liabilities as they fall due and that they will not seek repayment of intercompany debts within twelve months of signing these financial statements.
Revenue 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 measured as the fair value of the consideration received or receivable. Revenue comprises rents and service charges receivable, exclusive of value added tax. Revenue is therefore recognised in line with the lease agreement, as rents and charges fall due.
Page 2
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JALLAND & CO.LIMITED
Notes to the financial statements
For the year ended 31 December 2023
1.Accounting policies (continued)
Tangible fixed assets are stated at cost less accumulated depreciation and 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.
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life.
The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may be affected.
Depreciation is provided on the following basis:
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.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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The Company has no employees other than the directors, who did not receive any remuneration (2022 - £NIL).
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Page 3
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JALLAND & CO.LIMITED
Notes to the financial statements
For the year ended 31 December 2023
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The freehold property cost represents the amount at which land and buildings were transferred from group companies. These amounts transferred were based on historic valuations and also an assessment of market value rents.
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Amounts owed by group undertakings
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Accruals and deferred income
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Page 4
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JALLAND & CO.LIMITED
Notes to the financial statements
For the year ended 31 December 2023
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Authorised, allotted, called up and fully paid
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3,208 (2022 - 3,208) Ordinary shares of £5.00 each
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940 (2022 - 940) 6.5% cumulative preference shares of £5.00 each
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Rental receipts under operating leases
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At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
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Later than 1 year and not later than 5 years
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Related party transactions
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The company has taken advantage of the exemption under FRS 102 Section 33.1A Related Party Disclosures from disclosing transactions with other members of the group.
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The company's ultimate parent undertaking is SJC 15 Limited.
The largest group in which the results of the company are consolidated is SJC 15 Limited. Consolidated financial statements are available from the registered office, 2 Lace Market Square, Nottingham, NG1 1PB.
The company is ultimately controlled by GH Akins (Jnr) and SPD Akins by virtue of their joint shareholding in SJC 15 Limited.
The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.
The audit report was signed on 16 September 2024 by Sarah Flear (Senior statutory auditor) on behalf of PKF Smith Cooper Audit Limited.
Page 5
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