Registration number:
Prepared for the registrar
for the
Year Ended 31 December 2023
JMKA Investments Limited
(Registration number: SC427530)
Balance Sheet as at 31 December 2023
Note |
2023 |
2022 |
|
Fixed assets |
|||
Other financial assets |
4,680 |
4,680 |
|
Current assets |
|||
Debtors |
|
|
|
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
4,680 |
4,680 |
|
Profit and loss account |
102,107 |
99,601 |
|
Shareholders' funds |
106,787 |
104,281 |
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 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 Profit and Loss Account has been taken.
Approved and authorised by the
Director
JMKA Investments Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.
The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income 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.
Investments
Investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less accumulated impairment losses. The investments are assessed at each reporting date and any impairment losses or reversals of impairment losses are recognised in the profit or loss.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
JMKA Investments Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Financial instruments
Classification
Recognition and measurement
Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Other financial assets (current and non-current) |
Investments |
|
Cost or valuation |
|
At 1 January 2023 |
4,680 |
At 31 December 2023 |
4,680 |
Carrying amount |
|
At 31 December 2023 |
|
The company has an investment in JMKA Investments 1LP, a limited partnership registered in Scotland.
Debtors |
Note |
2023 |
2022 |
|
Other debtors |
|
|
|
|
|
Creditors |
2023 |
2022 |
|
Due within one year |
||
Other creditors |
|
|
Accrued expenses |
|
|
Corporation tax liability |
979 |
1,055 |
|
|
JMKA Investments Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Related party transactions |
Summary of transactions with other related parties
During the year the company received management charges of £20,000 (2022: £20,000) from JMKA Investment 1LP and its share of the partnership losses was £1,746 (2022: £21,198).
At 31 December 2023 the company owed £3,000 (2022: £21,075 owed by) to a director. No interest was charged on this balance and there are no fixed terms for repayment.
Industrial and Commercial Bank of China Limited holds a floating charge over the assets of the company in respect of a property held in JMKA Investments 1LP, a partnership of which the company is a member.