Company registration number 08506531 (England and Wales)
JNR INVESTMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
JNR INVESTMENTS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
JNR INVESTMENTS LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
2,200,000
2,200,000
Investments
4
200
226
2,200,200
2,200,226
Current assets
Debtors
5
3,089,293
2,473,535
Investments
6
4,565,552
5,010,294
Cash at bank and in hand
281,677
1,226,998
7,936,522
8,710,827
Creditors: amounts falling due within one year
7
(139,835)
(148,017)
Net current assets
7,796,687
8,562,810
Total assets less current liabilities
9,996,887
10,763,036
Creditors: amounts falling due after more than one year
8
(2,800,000)
(4,000,000)
Net assets
7,196,887
6,763,036
Capital and reserves
Called up share capital
9
199
199
Profit and loss reserves
7,196,688
6,762,837
Total equity
7,196,887
6,763,036
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
JNR INVESTMENTS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 6 September 2024
K J Sheehan
Director
Company registration number 08506531 (England and Wales)
JNR INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information
JNR Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is 197 Moorgate Road, Rotherham, South Yorkshire, S60 3BA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents income received from the development and sale of properties and amounts included within other operating income are those received from property rental.
1.3
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure.
1.4
Fixed asset investments
Interests in associates and jointly controlled entities are measured at cost.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
JNR INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors and loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
3
Investment property
2024
£
Fair value
At 1 April 2023 and 31 March 2024
2,200,000
The historical cost of the properties is £2,200,000. The director believes that the valuation reflects the current market value of the investment property.
JNR INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
200
226
Movements in fixed asset investments
Shares in subsidiaries
Shares in associates
Total
£
£
£
Cost or valuation
At 1 April 2023
201
25
226
Disposals
(1)
(25)
(26)
At 31 March 2024
200
-
200
Carrying amount
At 31 March 2024
200
-
200
At 31 March 2023
226
-
226
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
3,115
29,781
Amounts owed by group undertakings
2,659,344
2,334,344
Other debtors
426,834
109,410
3,089,293
2,473,535
6
Current asset investments
2024
2023
£
£
Other investments
4,565,552
5,010,294
JNR INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
5,218
Corporation tax
56,011
55,142
Other taxation and social security
31,793
35,753
Other creditors
52,031
51,904
139,835
148,017
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
2,800,000
4,000,000
Other creditors include shareholder loans bearing interest at commercial rates in the sum of £2,800,000 (2023: £4,000,000).
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
55
55
55
55
A Ordinary Shares of £1 each
99
99
99
99
B Ordinary Shares of £1 each
45
45
45
45
199
199
199
199
JNR INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
10
Related party transactions
JNR Investments Ltd owns 50% of the share capital of the following entities and these are related party transactions.
Included in Amounts owed by group undertakings are unsecured interest free loans made to Pitstone Developments Ltd and the amount outstanding at the year end was £484,344. (2023: £434,344). The loan is repayable on demand.
Also included in Amounts owed by group undertakings are unsecured interest free loans made to GP Developments (Newbury) Ltd and the amount outstanding at the year end was £2,175,000 (2023: £1,900,000). The loan is repayable on demand.
Included in other creditors are unsecured non interest bearing loans made to shareholders with a value outstanding at year end of £15,385 (2023: £15,307). The loan is repayable on demand.
11
Directors' transactions
Advances have been granted by the company to its director as follows:
Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Director
2.25
47,440
287,057
3,773
(126,480)
211,790
47,440
287,057
3,773
(126,480)
211,790