JMKA Investments Limited SC427530 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of property management. Digita Accounts Production Advanced 6.30.9574.0 true SC427530 2023-01-01 2023-12-31 SC427530 2023-12-31 SC427530 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2023-12-31 SC427530 core:CurrentFinancialInstruments 2023-12-31 SC427530 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 SC427530 bus:SmallEntities 2023-01-01 2023-12-31 SC427530 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 SC427530 bus:FullAccounts 2023-01-01 2023-12-31 SC427530 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 SC427530 bus:RegisteredOffice 2023-01-01 2023-12-31 SC427530 bus:Director1 2023-01-01 2023-12-31 SC427530 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC427530 core:OtherRelatedParties 2023-01-01 2023-12-31 SC427530 countries:EnglandWales 2023-01-01 2023-12-31 SC427530 2022-01-01 2022-12-31 SC427530 2022-12-31 SC427530 core:CurrentFinancialInstruments 2022-12-31 SC427530 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 iso4217:GBP xbrli:pure

Registration number: SC427530

Prepared for the registrar

JMKA Investments Limited

Annual Report and Unaudited Financial Statements

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

4,680

4,680

Current assets

 

Debtors

5

137,286

130,430

Creditors: Amounts falling due within one year

6

(35,179)

(30,829)

Net current assets

 

102,107

99,601

Net assets

 

106,787

104,281

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 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 Profit and Loss Account has been taken.

Approved and authorised by the Board on 24 September 2024 and signed on its behalf by:
 


M Knight-Adams
Director

 

JMKA Investments Limited

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

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Exchange Tower
19 Canning Street
Edinburgh
EH3 8EH

 

2

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
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 on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

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.

 

3

Staff numbers

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

 

4

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

4,680

The company has an investment in JMKA Investments 1LP, a limited partnership registered in Scotland.

 

5

Debtors

Note

2023
 £

2022
 £

Other debtors

7

137,286

130,430

   

137,286

130,430

 

6

Creditors

2023
 £

2022
 £

Due within one year

Other creditors

23,300

18,554

Accrued expenses

10,900

11,220

Corporation tax liability

979

1,055

35,179

30,829

 

JMKA Investments Limited

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

 

7

Related party transactions

Summary of transactions with other related parties

At 31 December 2023 the company was owed £137,361 (2022: £109,505) by JMKA Investments 1LP. No interest was charged on this balance and there are no fixed terms for repayment.

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.