Company Registration No. 10854619 (England and Wales)
JINAC INVESTMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
6 Queen Street
Leeds
West Yorkshire
LS1 2TW
JINAC INVESTMENTS LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
JINAC INVESTMENTS LIMITED
COMPANY INFORMATION
- 1 -
Director
Mr J Rooney
Company number
10854619
Registered office
Unit 2A
Willowbridge Way
Whitwood
Castleford
West Yorkshire
WF10 5NP
Accountants
TC Group
6 Queen Street
Leeds
West Yorkshire
LS1 2TW
JINAC INVESTMENTS LIMITED
BALANCE SHEET
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment properties
3
1,125,000
1,125,000
Current assets
Debtors
4
325
400
Investments
5
1,465,629
1,065,280
Cash at bank and in hand
434,150
670,320
1,900,104
1,736,000
Creditors: amounts falling due within one year
6
(41,515)
(27,206)
Net current assets
1,858,589
1,708,794
Total assets less current liabilities
2,983,589
2,833,794
Provisions for liabilities
(65,099)
(42,499)
Net assets
2,918,490
2,791,295
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
2,918,488
2,791,293
Total equity
2,918,490
2,791,295
JINAC INVESTMENTS LIMITED
BALANCE SHEET (CONTINUED)
- 3 -
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 July 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.
The financial statements were approved and signed by the director and authorised for issue on 26 November 2024
Mr J Rooney
Director
Company Registration No. 10854619
JINAC INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 4 -
1
Accounting policies
Company information
Jinac Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 2A, Willowbridge Way, Whitwood, Castleford, West Yorkshire, WF10 5NP.
On 26 July 2022, the company changed its name from Cammax Group Limited to Jinac Investments Limited.
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 the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover comprises the market value of rents received or receivable for the provision of tenancy in the ordinary course of the company's activities. Rents receivable are shown net of VAT.
The company recognises rental income over the term of the lease on a straight line basis.
1.3
Investment property
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. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
Property rented to a group entity is accounted for at fair value with changes in fair value
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
JINAC INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 5 -
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.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
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.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
JINAC INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 6 -
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 August 2023 and 31 July 2024
1,125,000
Investment property comprises Unit 2a Willowbridge Way, Castleford. The fair value of the investment property has been arrived at on the basis of a valuation carried out at on 31 July 2024 by the director who believes that there has been no material change. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
JINAC INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 7 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
400
Other debtors
325
325
400
5
Current asset investments
2024
2023
£
£
Other investments
1,465,629
1,065,280
The historical cost of current asset investments at the balance sheet date was £1,415,566 (2023 - £1,105,613)
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
2,534
Corporation tax
31,006
19,478
Other taxation and social security
4,885
4,950
Other creditors
3,090
2,778
41,515
27,206
7
Related party transactions
The Company has availed of the exemption provided in FRS 102 Section 33 Related Party Disclosures not to disclose transactions entered into with fellow group companies that are wholly owned within the group of companies of which the Company is a wholly owned member.
JINAC INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 8 -
8
Parent company
The company's immediate parent is Jinac Limited, incorporated in the United Kingdom.
The address of its registered office is:
Unit 2a Willowbridge Way, Whitwood, Castleford, West Yorkshire, United Kingdom, WF10 5NP.
The ultimate controlling party is Mr J P W Rooney.