0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-06-01 Sage Accounts Production Advanced 2024 - FRS102_2024 172,840 172,840 172,840 xbrli:pure xbrli:shares iso4217:GBP NI021455 2023-06-01 2024-05-31 NI021455 2024-05-31 NI021455 2023-05-31 NI021455 2022-06-01 2023-05-31 NI021455 2023-05-31 NI021455 2022-05-31 NI021455 bus:Director2 2023-06-01 2024-05-31 NI021455 core:WithinOneYear 2024-05-31 NI021455 core:WithinOneYear 2023-05-31 NI021455 core:ShareCapital 2024-05-31 NI021455 core:ShareCapital 2023-05-31 NI021455 core:RetainedEarningsAccumulatedLosses 2024-05-31 NI021455 core:RetainedEarningsAccumulatedLosses 2023-05-31 NI021455 core:CostValuation core:Non-currentFinancialInstruments 2024-05-31 NI021455 core:Non-currentFinancialInstruments 2024-05-31 NI021455 core:Non-currentFinancialInstruments 2023-05-31 NI021455 bus:Director1 2023-06-01 2024-05-31 NI021455 bus:SmallEntities 2023-06-01 2024-05-31 NI021455 bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 NI021455 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 NI021455 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 NI021455 bus:FullAccounts 2023-06-01 2024-05-31
COMPANY REGISTRATION NUMBER: NI021455
James Tolland Investments Limited
Filleted Unaudited Financial Statements
31 May 2024
James Tolland Investments Limited
Statement of Financial Position
31 May 2024
2024
2023
Note
£
£
£
Fixed assets
Investments
4
172,840
172,840
Current assets
Cash at bank and in hand
2,994
3,462
Creditors: amounts falling due within one year
5
47,353
47,323
--------
--------
Net current liabilities
44,359
43,861
---------
---------
Total assets less current liabilities
128,481
128,979
---------
---------
Net assets
128,481
128,979
---------
---------
Capital and reserves
Called up share capital
100,000
100,000
Profit and loss account
28,481
28,979
---------
---------
Shareholders funds
128,481
128,979
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 13 February 2025 , and are signed on behalf of the board by:
Mr J A L Tolland
Director
Company registration number: NI021455
James Tolland Investments Limited
Notes to the Financial Statements
Year ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 24 Sourhill Road, Ballymena, BT42 2NB.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
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 entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Investments
Other investments other than loans
£
Cost
At 1 June 2023 and 31 May 2024
172,840
---------
Impairment
At 1 June 2023 and 31 May 2024
---------
Carrying amount
At 31 May 2024
172,840
---------
At 31 May 2023
172,840
---------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
47,353
47,323
--------
--------