Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-07-01falseproperty rental and investment44truetruefalse 03917858 2023-07-01 2024-06-30 03917858 2022-07-01 2023-06-30 03917858 2024-06-30 03917858 2023-06-30 03917858 c:Director3 2023-07-01 2024-06-30 03917858 d:FurnitureFittings 2023-07-01 2024-06-30 03917858 d:FurnitureFittings 2024-06-30 03917858 d:FurnitureFittings 2023-06-30 03917858 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 03917858 d:LeaseholdInvestmentProperty 2024-06-30 03917858 d:LeaseholdInvestmentProperty 2023-06-30 03917858 d:CurrentFinancialInstruments 2024-06-30 03917858 d:CurrentFinancialInstruments 2023-06-30 03917858 d:Non-currentFinancialInstruments 2024-06-30 03917858 d:Non-currentFinancialInstruments 2023-06-30 03917858 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 03917858 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 03917858 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 03917858 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 03917858 d:ShareCapital 2024-06-30 03917858 d:ShareCapital 2023-06-30 03917858 d:RevaluationReserve 2024-06-30 03917858 d:RevaluationReserve 2023-06-30 03917858 d:RetainedEarningsAccumulatedLosses 2024-06-30 03917858 d:RetainedEarningsAccumulatedLosses 2023-06-30 03917858 c:FRS102 2023-07-01 2024-06-30 03917858 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 03917858 c:FullAccounts 2023-07-01 2024-06-30 03917858 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 03917858 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 03917858









JADEACT LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
JADEACT LIMITED
REGISTERED NUMBER: 03917858

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
3,572
3,961

Investment property
 6 
1,725,000
1,725,000

  
1,728,572
1,728,961

Current assets
  

Cash at bank and in hand
 7 
12,846
9,385

  
12,846
9,385

Creditors: amounts falling due within one year
 8 
(636,674)
(636,393)

Net current liabilities
  
 
 
(623,828)
 
 
(627,008)

Total assets less current liabilities
  
1,104,744
1,101,953

Creditors: amounts falling due after more than one year
 9 
(200,003)
(200,003)

Provisions for liabilities
  

Deferred tax
  
(123,698)
(123,232)

  
 
 
(123,698)
 
 
(123,232)

Net assets
  
781,043
778,718


Capital and reserves
  

Called up share capital 
  
2
2

Revaluation reserve
  
747,970
747,970

Profit and loss account
  
33,071
30,746

  
781,043
778,718


Page 1

 
JADEACT LIMITED
REGISTERED NUMBER: 03917858
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




S Manson
Director

Date: 14 November 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
JADEACT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Jadeact Limited is a company limited by shares and incorporated in England & Wales under the Companies Act 2006. The address of the registered office is given on the company information page. The nature of the Company's operations and its principal activities are set out in the Directors’ report.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The company has received a loan from its Directors. The Directors intend to continue to support the company and do not intend to request repayment of the loan unless there are sufficient cash resources within the company. As a result they have adopted the going concern basis of preparation.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
JADEACT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures & fittings
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Investment property

Investment property is carried at its estimated fair value as determined by a Director of the Company, derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
JADEACT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. The nature of estimation means the actual outcomes could differ from those estimates. 


4.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 4).

Page 5

 
JADEACT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Tangible fixed assets





Fixtures & fittings

£



Cost or valuation


At 1 July 2023
18,186


Additions
802



At 30 June 2024

18,988



Depreciation


At 1 July 2023
14,225


Charge for the year on owned assets
1,191



At 30 June 2024

15,416



Net book value



At 30 June 2024
3,572



At 30 June 2023
3,961

Page 6

 
JADEACT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Investment property


Long term leasehold investment property

£



Valuation


At 1 July 2023
1,725,000



At 30 June 2024
1,725,000

The 2024 valuations were made by a Director, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
854,220
854,220

854,220
854,220


7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
12,846
9,385

12,846
9,385



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
645
-

Other creditors
631,968
632,716

Accruals and deferred income
4,061
3,677

636,674
636,393


Page 7

 
JADEACT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
200,003
200,003

200,003
200,003


Secured loans
The bank loans are secured by way of legal charges over the Company's investment properties.


10.


Related party transactions

In other creditors there is a Directors' loan of £631,968 provided to the company (2023: £632,716). Interest of £13,839 was paid on this loan in the 2024 financial year and it is fully repayable on demand.

 
Page 8