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Registration number: 10519087

JSPS Holding UK Ltd

Unaudited Financial Statements

for the Year Ended 31 December 2023

 

JSPS Holding UK Ltd

(Registration number: 10519087)

Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

3

720,000

720,000

Other financial assets

4

3,094,502

-

 

3,814,502

720,000

Current assets

 

Cash at bank and in hand

 

287,254

175,440

Creditors: Amounts falling due within one year

5

(3,998,192)

(797,880)

Net current liabilities

 

(3,710,938)

(622,440)

Total assets less current liabilities

 

103,564

97,560

Provisions for liabilities

(25,715)

(25,715)

Net assets

 

77,849

71,845

Capital and reserves

 

Called up share capital

100

100

Revaluation reserve

86,740

86,740

Profit and loss account

(8,991)

(14,995)

Shareholders' funds

 

77,849

71,845

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the Board on 21 August 2024 and signed on its behalf by:
 

 

JSPS Holding UK Ltd

(Registration number: 10519087)

Balance Sheet as at 31 December 2023 (continued)

.........................................

Mr J S Pickard
Director

 

JSPS Holding UK Ltd

Statement of Changes in Equity for the Year Ended 31 December 2023

Share capital
£

Revaluation reserve
£

Profit and loss account
£

Total
£

At 1 January 2023

100

86,740

(14,995)

71,845

Profit for the year

-

-

6,004

6,004

Total comprehensive income

-

-

6,004

6,004

At 31 December 2023

100

86,740

(8,991)

77,849

Share capital
£

Revaluation reserve
£

Profit and loss account
£

Total
£

At 1 January 2022

100

-

(7,313)

(7,213)

Profit for the year

-

-

79,058

79,058

Total comprehensive income

-

-

79,058

79,058

Transfers

-

86,740

(86,740)

-

At 31 December 2022

100

86,740

(14,995)

71,845

 

JSPS Holding UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

Accounting policies

Statutory information

JSPS Holding UK Ltd is a private company, limited by shares, domiciled in England and Wales, company number 10519087. The registered office is at Stone Farm Bungalow, Hermit Hill, Wortley, Sheffield, S35 7DF.

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. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Revenue recognition

Turnover comprises rents receivable.

Tax

The tax expense for the period comprises 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Investment property

Investment properties are initially recognised at purchase price plus any directly attributable costs. Measurement after initial recognition should be at fair value if that value can be measured reliably without undue cost or effort. Changes in fair value are recognised in the accumulated profit and loss reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.

 

JSPS Holding UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

1

Accounting policies (continued)

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

3

Investment properties

2023
£

At 1 January 2023

720,000

At 31 December 2023

720,000

Investment properties were revalued on 31 December 2023 by the directors who are internal to the company. The basis of valuation was existing use basis. This class of assets has a current value of £720,000 (2022: £720,000) and a carrying amount at historical cost of £607,545 (2022: £607,545). The depreciation on this historic cost is nil (2022: nil).

4

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

Additions

3,094,502

3,094,502

At 31 December 2023

3,094,502

3,094,502

Impairment

Carrying amount

At 31 December 2023

3,094,502

3,094,502

The company acquired a 16.33% shareholding in Ossian Holding BV during the year.

 

JSPS Holding UK Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

5

Creditors

2023
£

2022
£

Due within one year

Amounts owed to related undertakings

-

794,100

Accruals and deferred income

3,750

3,780

Director's loan account

3,994,442

-

3,998,192

797,880

6

Related party transactions

During the year the company had a loan account with JSPS Holding BV, a company under common control. This loan was repaid during the year.

During the year the director had a loan account with the company. At the balance sheet date the amount due to the director was £3,994,442. The loan is interest free.