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Company Registration No. 03851531 (England and Wales)
Jovis Investments Limited Unaudited accounts for the year ended 29 February 2024
Jovis Investments Limited Unaudited accounts Contents
Page
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Jovis Investments Limited Company Information for the year ended 29 February 2024
Directors
PS Jones P Servis
Secretary
PD Mitchell
Company Number
03851531 (England and Wales)
Registered Office
123 Cross Lane East Gravesend Kent DA12 5HA
Accountants
Clayton Stirling 123 Cross Lane East Gravesend Kent DA12 5HA
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Jovis Investments Limited Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investment property
2,970,000 
2,965,000 
Current assets
Cash at bank and in hand
65,632 
19,931 
Creditors: amounts falling due within one year
(38,854)
(105,564)
Net current assets/(liabilities)
26,778 
(85,633)
Total assets less current liabilities
2,996,778 
2,879,367 
Creditors: amounts falling due after more than one year
(323,712)
(265,897)
Provisions for liabilities
Deferred tax
(335,019)
(333,769)
Net assets
2,338,047 
2,279,701 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
2,338,045 
2,279,699 
Shareholders' funds
2,338,047 
2,279,701 
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 5 July 2024 and were signed on its behalf by
P Servis Director Company Registration No. 03851531
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Jovis Investments Limited Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
Jovis Investments Limited is a private company, limited by shares, registered in England and Wales, registration number 03851531. The registered office is 123 Cross Lane East, Gravesend, Kent, DA12 5HA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts and rebates. Turnover from the sale of properties is recognised upon completion. Turnover from rental income is recognised by reference to the stage of completion of the contract.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Investment property
2024 
£ 
Fair value at 1 March 2023
2,965,000 
Net gain from fair value adjustments
5,000 
At 29 February 2024
2,970,000 
The directors have valued the properties on an open market valuation and based on their knowledge and experience as estate agents.
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Jovis Investments Limited Notes to the Accounts for the year ended 29 February 2024
5
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
20,732 
21,267 
Amounts owed to group undertakings and other participating interests
360 
70,507 
Taxes and social security
16,802 
12,830 
Accruals
960 
960 
38,854 
105,564 
6
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
323,712 
265,897 
Aggregate of amounts that fall due for payment after five years
261,517 
180,831 
The above loans are secured by a fixed and floating charges. Each loan includes a specific charge over the property.
7
Controlling party
The ultimate parent is Able Estates Limited, a company registered at 287 Bexley Road, Northumberland Heath, Erith, Kent DA8 3EX.
8
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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