Company registration number SC626736 (Scotland)
Jandy Holdings Limited
unaudited financial statements
for the year ended 31 March 2024
Pages for filing with registrar
Jandy Holdings Limited
Contents
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 7
Jandy Holdings Limited
Balance sheet
as at 31 March 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
6,957,141
2,945,012
Current assets
Debtors
4
878,530
234,129
Cash at bank and in hand
1,606,386
2,843,207
2,484,916
3,077,336
Creditors: amounts falling due within one year
5
(44,302)
(41,769)
Net current assets
2,440,614
3,035,567
Total assets less current liabilities
9,397,755
5,980,579
Provisions for liabilities
(137,502)
(4,778)
Net assets
9,260,253
5,975,801
Capital and reserves
Called up share capital
102
102
Other reserves
561,174
20,360
Profit and loss reserves
8,698,977
5,955,339
Total equity
9,260,253
5,975,801

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 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.

Jandy Holdings Limited
Balance sheet (continued)
as at 31 March 2024
31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 25 March 2025 and are signed on its behalf by:
Mr A Lothian
Director
Company registration number SC626736 (Scotland)
Jandy Holdings Limited
Statement of changes in equity
for the year ended 31 March 2024
- 3 -
Share capital
Revaluation reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 April 2022
102
-
2,542,679
2,542,781
Year ended 31 March 2023:
Profit and total comprehensive income
-
-
3,433,020
3,433,020
Other movements
-
20,360
(20,360)
-
Balance at 31 March 2023
102
20,360
5,955,339
5,975,801
Year ended 31 March 2024:
Profit and total comprehensive income
-
-
3,419,452
3,419,452
Dividends
-
-
(135,000)
(135,000)
Other movements
-
540,814
(540,814)
-
Balance at 31 March 2024
102
561,174
8,698,977
9,260,253
Jandy Holdings Limited
Notes to the financial statements
for the year ended 31 March 2024
- 4 -
1
Accounting policies
Company information

Jandy Holdings Limited is a private company limited by shares incorporated in Scotland. The registered office is The Vision Building, 20 Greenmarket, Dundee, DD1 4QB.

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 listed investments and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Fixed asset investments

Investments are included at fair value. Realised gains and losses, representing the difference between sale proceeds and cost or fair value are dealt with in the profit and loss account. Unrealised gains and losses, representing the movement in the fair value of investments over the financial year, or from their date of purchase if acquired during the financial year, are shown in notes to the financial statements.

1.3
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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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 company after deducting all of its liabilities.

Jandy Holdings Limited
Notes to the financial statements (continued)
for the year ended 31 March 2024
1
Accounting policies (continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.4
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.

1.5
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.

Jandy Holdings Limited
Notes to the financial statements (continued)
for the year ended 31 March 2024
1
Accounting policies (continued)
- 6 -
1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

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.

1.7
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
3
Fixed asset investments
2024
2023
£
£
Other investments other than loans
6,957,141
2,945,012

Included within fixed asset investments are listed investments to the value of £6,125,572 with a book cost of £5,435,005.

Jandy Holdings Limited
Notes to the financial statements (continued)
for the year ended 31 March 2024
3
Fixed asset investments (continued)
- 7 -
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 April 2023
2,945,012
Additions
5,314,557
Valuation changes
651,745
Disposals
(1,954,173)
At 31 March 2024
6,957,141
Carrying amount
At 31 March 2024
6,957,141
At 31 March 2023
2,945,012
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
878,530
234,129
5
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
44,302
41,769
6
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

The following amounts were outstanding at the reporting end date:

2024
2023
Amounts due from related parties
£
£
Other related parties
289,191
234,128

 

7
Directors' transactions

During the previous year the director paid expenses of £45,158 on behalf of the company of which £38,500 remains outstanding (2023 - £38,500).

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