REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 June 2024 |
for |
Jaynic Suffolk Park Logistics Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 June 2024 |
for |
Jaynic Suffolk Park Logistics Limited |
Jaynic Suffolk Park Logistics Limited (Registered number: 10124346) |
Contents of the Financial Statements |
for the Year Ended 30 June 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Jaynic Suffolk Park Logistics Limited |
Company Information |
for the Year Ended 30 June 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
The Old Grange |
Warren Estate |
Lordship Road |
Writtle |
Essex |
CM1 3WT |
Jaynic Suffolk Park Logistics Limited (Registered number: 10124346) |
Balance Sheet |
30 June 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
Investment property | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Jaynic Suffolk Park Logistics Limited (Registered number: 10124346) |
Notes to the Financial Statements |
for the Year Ended 30 June 2024 |
1. | STATUTORY INFORMATION |
Jaynic Suffolk Park Logistics Limited is a |
The company is part of a group. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Significant judgements and estimates |
No significant judgements or estimations have been applied in the preparation of the financial statements. |
Revenue |
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales tax. |
Investments in subsidiaries |
Investments in subsidiaries are valued at amortised cost, using the effective interest rate method. |
Investment property |
The investment property is included at fair value. Gains and losses are recognised in the income statement and subsequently transferred to the fair value reserve. Deferred tax is provided on gains at the rate expected to apply when the property is sold. |
Work in progress |
Work in progress comprises land and infrastructure costs incurred on the company's development projects in and around Bury St Edmunds. |
Financial instruments |
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities, including debtors, creditors and bank balances. Basic short term financial assets are measured at the transaction price, less any impairment and basic short term financial liabilities are measured at the transaction price. Other financial liabilities, including loans, are measured initially and subsequently at fair value, net of transaction costs. |
Jaynic Suffolk Park Logistics Limited (Registered number: 10124346) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
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. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | FIXED ASSET INVESTMENTS |
Fixed asset investments represent share capital acquired and capital advanced to the company's subsidiary JSPL (SP160) Limited. This is shown at amortised cost using the effective interest rate method. In 2023, the investment was shown at historic cost. |
The investment comprises: |
2024 | 2023 |
£ | £ |
Share capital | 100 | 100 |
Loan receivable | 3,011,197 | 7,179,712 |
Investment in subsidiary | 840,183 | - |
Total | 3,851,480 | 7,179,812 |
Jaynic Suffolk Park Logistics Limited (Registered number: 10124346) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 July 2023 |
Additions |
Revaluations | (128,698 | ) |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
Fair value at 30 June 2024 is represented by: |
£ |
Valuation in 2024 | (128,698 | ) |
Cost | 1,528,698 |
1,400,000 |
If the investment property had not been revalued it would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 1,528,698 | 1,438,342 |
The investment property was valued on an open market basis on 8 October 2024 by Jackson-Stops . |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed by related parties | 9,500 | 9,500 |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
Jaynic Suffolk Park Logistics Limited (Registered number: 10124346) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Other loans |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Other loans | 4,411,105 | 8,411,105 |
The other loan is due to Property Recycling Group plc and is secured by a legal charge over the freehold property at Shepherd's Grove, Stanton, Suffolk. The loan was repaid in August 2024 and the charge satisfied. |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
11. | ULTIMATE CONTROLLING PARTY |
The company's immediate and ultimate parent is Jaynic Developments Limited, a company registered in England and Wales, whose registered office is The Epicentre, Enterprise Way, Withersfield, Haverhill, CB9 7LR. |
The company's ultimate controlling party is Mr and Mrs N Rumsey. |