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REGISTERED NUMBER: 02488952 (England and Wales)










JANDU DEVELOPMENTS LIMITED
T/A
J S MARKETING

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






JANDU DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02488952)
T/A J S MARKETING






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 5

Report of the Independent Auditors 7

Statement of Comprehensive Income 11

Balance Sheet 12

Statement of Changes in Equity 13

Cash Flow Statement 14

Notes to the Cash Flow Statement 15

Notes to the Financial Statements 16


JANDU DEVELOPMENTS LIMITED
T/A J S MARKETING

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: Mr N S Jandu
Mr S S Jandu
Mr J S Jandu





REGISTERED OFFICE: Unit 7A, Wheler Road
Seven Stars Ind Estate
Coventry
West Midlands
CV3 4LJ





REGISTERED NUMBER: 02488952 (England and Wales)





AUDITORS: Harendra Kishorlal Shah (FCCA) (Senior Auditor)
For and behalf of Shah & Co (Accountants) Ltd
Chartered Accountants & Statutory Auditors
Cash's Business Centre
1st Floor
228 Widdrington Road
Coventry
West Midlands
CV1 4PB

JANDU DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02488952)
T/A J S MARKETING

STRATEGIC REPORT
FOR THE YEAR ENDED 31 MAY 2024

The directors present their strategic report for the year ended 31 May 2024.

REVIEW OF BUSINESS
The principal activity of the company in the year under review was that of the wholesale distributor of menswear clothing, textiles, garments and materials.

The company's financial results for the year and financial position are shown in the annexed financial statements.

The company continued to show business resilience throughout the year in the presence of ongoing challenging trading conditions faced by retail companies operating in the clothing industry. Despite experiencing a decline in turnover due to industry-specific challenges such as shifting consumer preferences, rising material and production costs, and increasing competition, the company maintains a healthy financial position, with its bottom line remaining robust and positive. This is attributed to its strategic approach in reducing operational costs while continuing to focus on smart investments that contribute to long-term growth and sustainability.

BUSINESS STRATEGY
The company operates in a highly competitive market where its success is largely dependent upon the growth of the retail clothing industry within the United Kingdom.

The directors strategy focuses mainly on sourcing high-quality clothing products, building strong relationships with manufacturers and suppliers, and expanding its customer base.

KEY PERFORMANCE INDICATORS
The directors consider the most appropriate key performance indicators to be Turnover, Gross Profit, Operating Profit and Liquidity. The results of these key performance indicators for the year were as follows:

2024 2023

Turnover £5.4m £12.7m
Gross profit £1.2m £3.3m
Operating profit £0.9m £2.6m
Cash at bank £6.7m £4.4m

Gross profit margin for the year was 22.3% (2023: 25.8%)

Operating profit margin for the year was 16.7% (2023: 20.2%).

Current ratio (measured as current assets divided by current liabilities) for the year was 3.0 (2023: 2.3)


JANDU DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02488952)
T/A J S MARKETING

STRATEGIC REPORT
FOR THE YEAR ENDED 31 MAY 2024

PRINCIPAL RISKS AND UNCERTAINTIES
There are various risks and uncertainties affecting the business some of which are inherent to the industry in which the company operates such as increasing competition in the manufacture of clothing in low cost countries. The company manages this risk by maintaining high standard of quality products, delivered to customers on time and at competitive pricing.

FINANCIAL INSTRUMENTS
The company's principal financial instruments comprise of trade debtors, trade creditors, cash deposits and investments. The company manages its risks in relation to these as follows:

Liquidity risk
Liquidity risk is low due to the company's ability in maintaining strong cash flow. The company manages its cash and borrowing requirements so as to maximise interest income and minimise interest expense whilst ensuring that it has sufficient liquid resources to meet the daily operating needs of the business. There are no external borrowing requirements and therefore no financial covenants imposed on the company.

Fixed and current asset investments are managed externally by professional and qualified investment managers who provide the directors with relevant information.

Credit risk
Customers are predominantly high street retail shops. They are provided with credit and encouraged to settle invoices usually within 60 days, from the inception of raising sales invoices, however, certain customers are given favourable payment terms based on their creditworthiness. Monies due are monitored on a on-going basis and chased as part of the company credit control procedures. Debtor days for the year ended 31 May 2024 was 9 days (2023: 72 days).

Price risk
Price charged for sale of manufactured garments is determined by the customer at the outset. Price risk could impact the company's business through rising overheads. This risk is reduced by the company's aim to maximise profit margins by purchasing quality fabric and related materials at discounted prices and outsourcing the production of sales orders to reliable manufacturers whilst meeting customer requirements in delivering quality products on a timely manner.

Exchange rate risk
The company conducts business with overseas customers and suppliers. Therefore it buys foreign currencies as and when required. The company does not enter into any hedging transactions.

Regulatory risk
The company does not operate in a regulated environment and therefore does not have material exposure to regulatory risks. However, the directors have created a reputation based on their strengths of quality, price, flexibility and fast response.

Internal control risk
The directors monitor the system of internal controls both financial and non financial. These include quality control inspection procedures before the finished products are delivered to its customers and controls designated to ensure proper accounting records are maintained.


JANDU DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02488952)
T/A J S MARKETING

STRATEGIC REPORT
FOR THE YEAR ENDED 31 MAY 2024

FUTURE DEVELOPMENTS
Despite the challenges presented by the wider economic climate, the directors also hope to maximise growth as and when opportunities arise and show improvements in key performance indicators.

ON BEHALF OF THE BOARD:





Mr J S Jandu - Director


27 February 2025

JANDU DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02488952)
T/A J S MARKETING

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MAY 2024

The directors present their report with the financial statements of the company for the year ended 31 May 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the wholesale distributor of clothing, textiles, garments and materials.

DIVIDENDS
No dividends will be distributed for the year ended 31 May 2024.

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 June 2023 to the date of this report.

Mr N S Jandu
Mr S S Jandu
Mr J S Jandu

DISCLOSURE IN THE STRATEGIC REPORT
In accordance with Section 414C(11) of the Companies Act 2006, the Directors have set out certain information in the Strategic Report which would otherwise be required by Schedule 7 to be contained in the Report of the Directors. It has done so in respect of future developments, principal risks and uncertainties and financial instruments.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

JANDU DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02488952)
T/A J S MARKETING

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MAY 2024


AUDITORS
The auditors, Harendra Kishorlal Shah (FCCA) (Senior Auditor), will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr J S Jandu - Director


27 February 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
JANDU DEVELOPMENTS LIMITED

Opinion
We have audited the financial statements of Jandu Developments Limited (the 'company') for the year ended 31 May 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 May 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
JANDU DEVELOPMENTS LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
JANDU DEVELOPMENTS LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. However, the primary responsibility for the prevention and detection of fraud and other irregularities rests with both management and those charged with governance of the company.

Based on our understanding of the company and industry in which it operates, we identified that the principal risks of non-compliance with laws and regulations relates to relevant trade accreditation and supplier approval certifications, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the financial statements of the company and determined that the most significant are those that relate to the United Kingdom Generally Accepted Accounting Practice, Companies Act 2006 and UK corporate taxation laws.

We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to revenue recognition, posting inappropriate journal entries to manipulate financial results and management bias in accounting estimates. Audit procedures performed included:

- Discussions with those charged with governance including consideration of known or suspected instances of
non-compliance with laws and regulation and fraud;
- Review of relevant and valid trade accreditation and supplier approval certifications;
- Review of correspondence between the company and tax authorities;
- Carry out testing, on a sample basis, on the company's main income and expenditure cycle and consider the
impact on our assessment of irregularities;
- Identify and understand related party relationships and transactions including rationale for any significant
transactions outside the normal course of business;
- Identify and test significant journal entries throughout the year and at the year-end;
- Review of financial statement disclosures to underlying supporting documentation;

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
JANDU DEVELOPMENTS LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Harendra Kishorlal Shah (FCCA) (Senior Statutory Auditor)
for and on behalf of Harendra Kishorlal Shah (FCCA) (Senior Auditor)
For and behalf of Shah & Co (Accountants) Ltd
Chartered Accountants & Statutory Auditors
Cash's Business Centre
1st Floor
228 Widdrington Road
Coventry
West Midlands
CV1 4PB

27 February 2025

JANDU DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02488952)
T/A J S MARKETING

STATEMENT OF COMPREHENSIVE
INCOME
FOR THE YEAR ENDED 31 MAY 2024

31.5.24 31.5.23
Notes £    £   

TURNOVER 3 5,368,867 12,723,175

Cost of sales (4,170,052 ) (9,440,759 )
GROSS PROFIT 1,198,815 3,282,416

Administrative expenses (1,020,605 ) (1,204,941 )
178,210 2,077,475

Other operating income 720,570 486,438
OPERATING PROFIT 898,780 2,563,913

Income from fixed asset investments 6,274 6,328
Interest receivable and similar income 162,909 95,914
1,067,963 2,666,155
Gain/loss on revaluation of
investments 301,431 79,414
1,369,394 2,745,569

Interest payable and similar expenses 5 (5,039 ) (372 )
PROFIT BEFORE TAXATION 6 1,364,355 2,745,197

Tax on profit 7 (346,484 ) (572,198 )
PROFIT FOR THE FINANCIAL YEAR 1,017,871 2,172,999

JANDU DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02488952)
T/A J S MARKETING

BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
Notes £    £   
FIXED ASSETS
Tangible assets 8 292,365 322,032
Investments 9 2,741,505 2,472,181
Investment properties 10 5,295,810 5,295,810
8,329,680 8,090,023

CURRENT ASSETS
Debtors 11 511,592 2,652,266
Investments 12 475,460 444,864
Cash at bank 13 6,699,446 4,411,998
7,686,498 7,509,128
CREDITORS
Amounts falling due within one year 14 (2,597,816 ) (3,273,640 )
NET CURRENT ASSETS 5,088,682 4,235,488
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,418,362

12,325,511

PROVISIONS FOR LIABILITIES 16 (148,616 ) (73,636 )
NET ASSETS 13,269,746 12,251,875

CAPITAL AND RESERVES
Called up share capital 17 100 100
Fair value reserve 18 476,109 250,036
Retained earnings 18 12,793,537 12,001,739
SHAREHOLDERS' FUNDS 13,269,746 12,251,875

The financial statements were approved by the Board of Directors and authorised for issue on 27 February 2025 and were signed on its behalf by:





Mr J S Jandu - Director


JANDU DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02488952)
T/A J S MARKETING

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2024

Called up Fair
share Retained value Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 June 2022 100 9,888,301 190,475 10,078,876

Changes in equity
Total comprehensive income - 2,172,999 - 2,172,999
Transfer - (59,561 ) 59,561 -
Balance at 31 May 2023 100 12,001,739 250,036 12,251,875

Changes in equity
Total comprehensive income - 1,017,871 - 1,017,871
Transfer - (226,073 ) 226,073 -
Balance at 31 May 2024 100 12,793,537 476,109 13,269,746

JANDU DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02488952)
T/A J S MARKETING

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MAY 2024

31.5.24 31.5.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 2,756,559 1,832,931
Interest paid (5,039 ) (372 )
Tax paid (546,652 ) (205,107 )
Government grants (87,604 ) -
Net cash from operating activities 2,117,264 1,627,452

Cash flows from investing activities
Purchase of fixed asset investments - (58,465 )
Purchase of investment property - (4,079,810 )
Sale of fixed asset investments 1,700 25,667
Interest received 162,909 95,914
Dividends received 6,274 6,328
Net cash from investing activities 170,883 (4,010,366 )

Cash flows from financing activities
Amount introduced by directors 176 205,817
Amount withdrawn by directors (875 ) (205,817 )
Net cash from financing activities (699 ) -

Increase/(decrease) in cash and cash equivalents 2,287,448 (2,382,914 )
Cash and cash equivalents at beginning of
year

2

4,411,998

6,794,912

Cash and cash equivalents at end of year 2 6,699,446 4,411,998

JANDU DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02488952)
T/A J S MARKETING

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MAY 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

31.5.24 31.5.23
£    £   
Profit before taxation 1,364,355 2,745,197
Depreciation charges 29,668 34,628
(Profit)/loss on disposal of fixed assets (189 ) 38,524
Gain on revaluation of fixed assets (301,431 ) (79,414 )
Government grants 87,604 -
Finance costs 5,039 372
Finance income (169,183 ) (102,242 )
1,015,863 2,637,065
Decrease in stocks - 52,685
Decrease in trade and other debtors 2,140,673 36,713
Decrease in trade and other creditors (399,977 ) (893,532 )
Cash generated from operations 2,756,559 1,832,931

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 May 2024
31/5/24 1/6/23
£    £   
Cash and cash equivalents 6,699,446 4,411,998
Year ended 31 May 2023
31/5/23 1/6/22
£    £   
Cash and cash equivalents 4,411,998 6,794,912


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1/6/23 Cash flow At 31/5/24
£    £    £   
Net cash
Cash at bank 4,411,998 2,287,448 6,699,446
4,411,998 2,287,448 6,699,446

Liquid resources
Current asset investments 444,864 30,596 475,460
444,864 30,596 475,460
Total 4,856,862 2,318,044 7,174,906

JANDU DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02488952)
T/A J S MARKETING

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Jandu Developments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going concern
At the balance sheet date, the company is in a net asset position, which supports its ability to continue as a going concern. The directors have prepared financial projections which, on the basis of reasonable assumptions, the company can meet its liabilities as and when they fall due for a period of at least twelve months from the date of signing these financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

It is the company's policy to recognise turnover when goods are despatched to the customer, that is, when substantially all the risks and rewards in connection with the goods have been passed to the buyer.

JANDU DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02488952)
T/A J S MARKETING

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful
life.

Freehold property- 2% on cost
Improvements to property- 10% on cost
Plant and machinery- 25% on reducing balance
Motor vehicles- 25% on reducing balance
Office furniture- 15% on reducing balance
Office equipment- 33% on reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Government grants
Government grants are recognised where there is reasonable assurance that the grant will be received and
all attached conditions will be complied with. When the grant relates to an expense item, it is recognised as
income on a systematic basis over the periods that the related costs, for which it is intended to compensate,
are expensed. When the grant relates to an asset, it is recognised as income in equal amounts over the
expected useful life of the related asset.
When the Company receives grants of non-monetary assets, the asset and the grant are recorded at nominal
amounts and released to profit or loss over the expected useful life of the asset, based on the pattern of
consumption of the benefits of the underlying asset by equal annual instalments.

Investment property
Investment property is carried at fair value determined annually by the directors based on advice from professional surveyors and derived from the current market rents and investment property yields for comparable real estate, adjusted for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit and loss account.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


JANDU DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02488952)
T/A J S MARKETING

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

JANDU DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02488952)
T/A J S MARKETING

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued

Investments
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Income from investments together with any related tax credit is recognised in the profit and loss in the year in which it is receivable.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate or that are receivable or payable within one year are stated at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of not more than twelve months and bank overdrafts that are readily convertible to a known amount of cash and are subject to an insignificant risk to changes in value. Bank overdrafts are shown within borrowings in current liabilities in the balance sheet.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method. Loans and borrowings that are receivable within one year are not discounted. If an arrangement constitutes a finance transaction it is measured at present value of future payments discounted at a market rate of interest for a similar loan.

Foreign currency
Foreign currency transactions are initially recognised by applying to the foreign currency amount the spot exchange rate between the functional currency and the foreign currency at the date of the transaction.

Monetary assets and liabilities denominated in a foreign currency at the balance sheet date are translated using the closing rate.

Employee benefits
The cost of short term employee benefits are recognised as a liability and an expense. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Rental income
Rental income is received from investment properties and is recognised on an accruals basis.

Interest receivable
Interest receivable relates to interest from fixed deposit accounts and is recognised on a receipts basis.

Dividends
Equity dividends are recognised when they become legally declared and payable. Interim equity dividends are recognised when declared or paid. Final equity dividends are recognised when approved by the shareholders.

JANDU DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02488952)
T/A J S MARKETING

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued

Significant judgements and key sources of estimation uncertainty
Preparation of the financial statements requires directors to make judgements, estimates and assumptions that affect the amounts reported of assets and liabilities at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.

The following are significant judgements:
-Determining the useful life of assets
This judgment involves assessing factors such as the asset's expected usage, wear and tear, technological obsolescence, and industry-specific conditions. Management is required to review and, if necessary, revise the useful life of assets regularly. Any changes in these estimates are applied prospectively, ensuring that the financial statements reflect a true and fair view of the company’s financial position and performance.

-Lease classifications
This judgment involves management assessing whether the lease transfers substantially all the risks and rewards incidental to ownership of the underlying asset to the lessee. Factors such as the lease term relative to the asset's useful life, the present value of lease payments compared to the asset's fair value, and the option to purchase the asset at a bargain price are considered. The outcome determines whether the lease is recognized on the balance sheet as a right-of-use asset and a corresponding lease liability (finance lease) or treated as an off-balance-sheet operating expense (operating lease).

The following are key sources of estimation uncertainty:
- Impairment of tangible fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. In determining whether there are indicators of impairment of the company's tangible fixed assets, factors taken into consideration by the directors include the economic value in use and whether there are any expected future cash flows to be generated from such assets. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

- Fair value of investment property
In determining the carrying value of investment property at fair value through the profit and loss account, the directors apply the overriding concept that fair value is the amount for which an asset can be exchanged between knowledgeable willing parties in an arm's length transaction. The nature, facts and circumstances of the investment drives the valuation methodology.


JANDU DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02488952)
T/A J S MARKETING

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued
- Trade debtors
Trade debtors is reviewed annually at the reporting date for recoverability of monies for the provision of goods. If there is any evidence of impairment, the carrying value is reduced to its recoverable amount. Any impairment loss is recognised immediately in the profit and loss account. Customer discounts are recognised when their is certainty of early settlement of invoices.

- Trade creditors
Trade creditors is reviewed annually at the reporting date to identify potential overstatement. The directors are of the opinion that due to the generally poor administration and credit control of some suppliers, invoices for payment have remained on the purchase ledger. In light of this the directors also consider that it is not sensible commercial practice to chase suppliers to ascertain whether they would like payment for invoices which they have not chased themselves. Therefore, it is inevitable that there will be old purchase ledger balances.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

The company operates a single business segment as a wholesale distributor of menswear clothing, textiles, garments and materials predominantly in the United Kingdom.

4. EMPLOYEES AND DIRECTORS
31.5.24 31.5.23
£    £   
Wages and salaries 383,381 596,294
Social security costs 36,811 73,431
Other pension costs 241,475 242,179
661,667 911,904

The average number of employees during the year was as follows:
31.5.24 31.5.23

Directors 3 3
Management and Administration 10 9
13 12

31.5.24 31.5.23
£    £   
Directors' remuneration 129,600 357,908
Directors' pension contributions to money purchase schemes 120,000 120,000

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 2 2

5. INTEREST PAYABLE AND SIMILAR EXPENSES
31.5.24 31.5.23
£    £   
Late interest payment 5,039 372

JANDU DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02488952)
T/A J S MARKETING

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

6. PROFIT BEFORE TAXATION

The profit is stated after charging/(crediting):

31.5.24 31.5.23
£    £   
Other operating leases 174,861 174,861
Depreciation - owned assets 29,667 34,628
(Profit)/loss on disposal of fixed assets (189 ) 38,524
Auditors' remuneration 12,000 12,000
Foreign exchange differences 91 973
Rents receivable 573,059 (446,438 )
(Gain)/loss on revaluation of investments (299,922 ) (42,600 )
Job retention scheme grant (87,604 ) -

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.5.24 31.5.23
£    £   
Current tax:
UK corporation tax 271,504 552,345

Deferred tax 74,980 19,853
Tax on profit 346,484 572,198

UK corporation tax has been charged at 25% .

8. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 June 2023
and 31 May 2024 272,795 74,747 60,458
DEPRECIATION
At 1 June 2023 68,215 35,205 60,457
Charge for year 5,456 7,474 1
At 31 May 2024 73,671 42,679 60,458
NET BOOK VALUE
At 31 May 2024 199,124 32,068 -
At 31 May 2023 204,580 39,542 1

JANDU DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02488952)
T/A J S MARKETING

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

8. TANGIBLE FIXED ASSETS - continued

Office
Motor furniture
vehicles & equipment Totals
£    £    £   
COST
At 1 June 2023
and 31 May 2024 65,368 60,684 534,052
DEPRECIATION
At 1 June 2023 16,342 31,801 212,020
Charge for year 12,256 4,480 29,667
At 31 May 2024 28,598 36,281 241,687
NET BOOK VALUE
At 31 May 2024 36,770 24,403 292,365
At 31 May 2023 49,026 28,883 322,032

On 12 August 2019, the company freehold property was independently and professionally valued by EHB Reeves Chartered Surveyors on a market value basis. The market value of the freehold property, owned by the company, amounted to £584,000 however, it is the policy of the company not to revalue freehold property, only investment property.

9. FIXED ASSET INVESTMENTS
Listed
investments
£   
COST OR VALUATION
At 1 June 2023 2,472,181
Disposals (1,511 )
Revaluations 270,835
At 31 May 2024 2,741,505
NET BOOK VALUE
At 31 May 2024 2,741,505
At 31 May 2023 2,472,181

Fixed asset investments represents listed investments whose fair value is determined by reference to quoted price for identical assets in an active market at the balance sheet date. Fixed asset investments were valued on 31 May 2024 by Evelyn Partners Group Limited.

If fixed asset investments had not been revalued they would have been included at the historical cost of £ 2,294,851 (2023: £2,293,275).

JANDU DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02488952)
T/A J S MARKETING

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

10. INVESTMENT PROPERTIES
Total
£   
COST OR VALUATION
At 1 June 2023
and 31 May 2024 5,295,810
NET BOOK VALUE
At 31 May 2024 5,295,810
At 31 May 2023 5,295,810

Cost or valuation at 31 May 2024 is represented by:
£   
Valuation in 2016 303,336
Valuation in 2019 (169,000 )
Cost 5,161,474
5,295,810

Investment properties comprise of a building purchased in 2023, valued at £4,079,780 (2023: £4,079,780) and 2 units independently and professionally valued on 12 August 2019 by EHB Reeves Chartered Surveyors on a market value basis. Market value of these 2 units amounted to £1,216,000. Revaluation was reflected as at 31 May 2019. The directors believe there is no material change to the valuation of the investment properties between the valuation date and balance sheet date.

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 130,517 2,493,004
Prepayments and accrued income 381,075 159,262
511,592 2,652,266

12. CURRENT ASSET INVESTMENTS

Current asset investment represents an investment fund whose fair value is determined by reference to the unit price for identical assets in an active market at the balance sheet date. Current asset investment was valued on 31 May 2024 and 31 May 2023 by Prudential International Assurance Plc.

If current asset investments had not been revalued they would have been included at the historical cost of £300,000 (2023: £300,000).

13. CASH AT BANK

Included within cash at bank are the following balances not available for use by the company in relation to its principal activity:

- £150,000 (2023: £150,000) representing a guarantee in favour of HMRC under the Duty Deferment Scheme on the import of goods; and

- £7,589 (2023: £2,052) representing monies held by investment management company in respect of income generated from fixed asset investments.

JANDU DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02488952)
T/A J S MARKETING

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 1,969,007 2,174,929
Tax 271,504 546,652
Social security and other taxes 25,351 9,203
VAT 45,922 313,827
Other creditors 7,106 10,080
Directors' current accounts 72,451 73,150
Accruals and deferred income 206,475 145,799
2,597,816 3,273,640

15. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.5.24 31.5.23
£    £   
Within one year 142,600 142,600
Between one and five years 570,400 570,400
In more than five years 190,133 332,733
903,133 1,045,733

16. PROVISIONS FOR LIABILITIES
31.5.24 31.5.23
£    £   
Deferred tax 148,616 73,636

Deferred
tax
£   
Balance at 1 June 2023 73,636
Charge / (Credit) for the year 74,980
Balance at 31 May 2024 148,616

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
100 Ordinary £1 100 100

JANDU DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02488952)
T/A J S MARKETING

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

18. RESERVES

Reserves of the company represent the following:

Retained earnings:
Accumulated profit and loss for the period and prior periods less dividends paid to owners. This reserve is
considered distributable with the exception of amounts on revaluation of investments and investment properties (net of deferred tax).

Fair value reserve:
Accumulated revaluation for the period and previous periods of investments and investment properties (net of deferred tax). This reserve represents profits which are not available for distribution as they are unrealised.

19. PENSION COMMITMENTS

The company utilizes a defined contribution pension scheme; Jandu Developments Limited Self Administered Pension Fund, an independently administered fund.

The pension cost charge represents contributions payable by the company to the fund and amounted to £240,000 (2023:£240,000).

20. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within creditors amounts falling due within one year is £72,179 (2023: £73,053) owed to Mr S S Jandu and £272 (2023: £96) owed to Mr J S Jandu. The amounts are unsecured and interest free with no set terms for repayment.

21. RELATED PARTY DISCLOSURES

During the year the company entered into transactions in the ordinary course of the business with a company in which Mr S S Jandu and Mr J S Jandu are directors and shareholders:

(i) The company sold goods totalling £2,891,472 (2023: £5,926,969);
(ii) The company charged £40,000 (2023: £40,000) for the provision of management and administration services;
(iii) The company charged £15,000 (2023: £15,000) for the provision of storage services;

At the balance sheet date monies owed to Jandu Developments Limited amounted to £223,124 (2023: £221,402).

During the year the company paid pension contributions totalling £240,000 (2023: £240,000) to a pension scheme in which the directors and their spouses are the trustees and beneficiaries.

The company had a lease agreement with the pension scheme for the lease of business premises. The company paid rent to the pension scheme totalling £174,861. Balance outstanding at the year end is £Nil.

22. POST BALANCE SHEET EVENTS

After the balance sheet date but before the issuance of the financial statements, there were no significant subsequent events requiring adjustment or disclosure in the financial statements.

23. ULTIMATE CONTROLLING PARTY

The company is controlled by Mr S S Jandu and Mr J S Jandu by virtue of their majority shareholding.