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
Jovis Investments Limited
Company Information
for the year ended 29 February 2024
Directors
PS Jones
P Servis
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
Jovis Investments Limited
Statement of financial position
as at 29 February 2024
Investment property
2,970,000
2,965,000
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
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
Jovis Investments Limited
Notes to the Accounts
for the year ended 29 February 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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 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 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.
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.
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
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.
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).