Company Registration No. 10807533 (England and Wales)
Jon Adley Investments Limited
Unaudited accounts
for the year ended 31 May 2024
Jon Adley Investments Limited
Unaudited accounts
Contents
Jon Adley Investments Limited
Company Information
for the year ended 31 May 2024
Directors
Adley Siddiqi
Jonathan Bootland
Company Number
10807533 (England and Wales)
Registered Office
283 Woodlands Road
Southampton
SO40 7GE
England
Accountants
RAE Business Services (Yorkshire) Limited
First Floor
85 Great Portland Street
London
W1W 7LT
Jon Adley Investments Limited
Accountants' report
Accountants' report to the board of directors of Jon Adley Investments Limited on the preparation of the unaudited statutory accounts for the year ended 31 May 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Jon Adley Investments Limited for the year ended
31 May 2024 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Jon Adley Investments Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Jon Adley Investments Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Jon Adley Investments Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Jon Adley Investments Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Jon Adley Investments Limited. You consider that Jon Adley Investments Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Jon Adley Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
RAE Business Services (Yorkshire) Limited
First Floor
85 Great Portland Street
London
W1W 7LT
13 November 2024
Jon Adley Investments Limited
Statement of financial position
as at 31 May 2024
Investment property
510,647
510,647
Cash at bank and in hand
13,472
8,311
Creditors: amounts falling due within one year
(4,691)
(4,006)
Net current assets
8,821
4,305
Total assets less current liabilities
519,468
514,952
Creditors: amounts falling due after more than one year
(413,867)
(418,644)
Provisions for liabilities
Deferred tax
(10,231)
(10,231)
Called up share capital
10
10
Revaluation reserve
30,691
30,691
Profit and loss account
64,669
55,376
Shareholders' funds
95,370
86,077
For the year ending 31 May 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 15 January 2025 and were signed on its behalf by
Adley Siddiqi
Director
Company Registration No. 10807533
Jon Adley Investments Limited
Notes to the Accounts
for the year ended 31 May 2024
Jon Adley Investments Limited is a private company, limited by shares, registered in England and Wales, registration number 10807533. The registered office is 283 Woodlands Road, Southampton, SO40 7GE, England.
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.
The accounts are presented in £ sterling.
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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
33% on cost
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.
Jon Adley Investments Limited
Notes to the Accounts
for the year ended 31 May 2024
4
Tangible fixed assets
Fixtures & fittings
Fair value at 1 June 2023
510,647
Amounts falling due within one year
7
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
2,180
1,476
Loans from directors
2,000
2,000
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
378,867
383,644
Other creditors
35,000
35,000
Aggregate of amounts that fall due for payment after five years
350,200
350,200
In May 2020, the company received a Bounce Back Loan of £43,000, which is a 100% UK Government backed loan.
Under the terms of the loan, the fees and interest incurred in the first 12 months are settled on behalf of the company by the UK Government.
The initial length of the loan is for six years, with an option to extend to ten years under the Bounce Back Loan Scheme.
Included in long term creditors are bank loans secured on investment properties. Personal guarantees have been provided.
Jon Adley Investments Limited
Notes to the Accounts
for the year ended 31 May 2024
9
Deferred taxation
2024
2023
Revaluation of investment property
10,231
10,231
Provision at start of year
10,231
-
Charged to the profit and loss account
-
10,231
Provision at end of year
10,231
10,231
Comparatives have been restated for deferred tax on revaluation of investment properties.
10
Average number of employees
During the year the average number of employees was 0 (2023: 0).