Company Registration No. 08280656 (England and Wales)
JSG INVESTMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
JSG INVESTMENTS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
JSG INVESTMENTS LIMITED
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
223
297
Investments
4
693,243
1,159,444
693,466
1,159,741
Current assets
Debtors
5
2,908,428
2,618,232
Investments
6
928,539
706,475
Cash at bank and in hand
27,625
345,893
3,864,592
3,670,600
Creditors: amounts falling due within one year
7
(786,994)
(670,369)
Net current assets
3,077,598
3,000,231
Total assets less current liabilities
3,771,064
4,159,972
Creditors: amounts falling due after more than one year
8
(1,217,163)
(935,891)
Net assets
2,553,901
3,224,081
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
2,553,801
3,223,981
Total equity
2,553,901
3,224,081
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 30 June 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.
JSG INVESTMENTS LIMITED
BALANCE SHEET (CONTINUED)
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 28 March 2025 and are signed on its behalf by:
Goldstein, J S
Director
Company Registration No. 08280656
JSG INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
1
Accounting policies
Company information
JSG Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is Acre House, 11/15 William Road, London, United Kingdom, NW1 3ER.
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 certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Computer equipment
25% Reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.3
Fixed asset investments
Fixed assets investments comprise artwork held long term and a portfolio of investments.
Artwork is initially measured at cost and subsequently at cost less accumulated impairment losses.
The investment portfolio is initially measured at the value contributed to the investment fund and subsequently adjusted for further contributions and withdrawals less accumulated impairment losses.
All investment assets are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognized immediately in profit & loss.
1.4
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. 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).
1.5
Cash at bank and in hand
Cash at bank and in hand are basic financial assets, includes deposits held at call with banks.
JSG INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
1.6
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.
Basic financial liabilities
Basic financial liabilities, including creditors, 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.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.
1.8
Taxation
The tax expense represents the tax currently payable.
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.
1.9
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
There were no employees during the current or previous year.
JSG INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
3
Tangible fixed assets
Computer equipment
£
Cost
At 1 July 2023 and 30 June 2024
5,274
Depreciation and impairment
At 1 July 2023
4,977
Depreciation charged in the year
74
At 30 June 2024
5,051
Carrying amount
At 30 June 2024
223
At 30 June 2023
297
4
Fixed asset investments
2024
2023
£
£
Investments
693,243
1,159,444
Movements in fixed asset investments
Artwork
Investments
Total
£
£
£
Cost or valuation
At 1 July 2023
467,554
691,890
1,159,444
Additions
-
117,658
117,658
Diminution in value
-
(583,859)
(583,859)
At 30 June 2024
467,554
225,689
693,243
Carrying amount
At 30 June 2024
467,554
225,689
693,243
At 30 June 2023
467,554
691,766
1,159,320
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Corporation tax recoverable
10,866
Amounts owed from participating interest
73,342
43,900
Other debtors
2,835,086
2,563,466
2,908,428
2,618,232
JSG INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
6
Current asset investments
2024
2023
£
£
Other investments
928,539
706,475
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loan
70,000
Trade creditors
23,336
19,558
Other creditors
677,690
638,843
Accruals and deferred income
15,968
11,968
786,994
670,369
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other borrowings
1,217,163
935,891
Other borrowings are secured by a fixed charge over the assets of the company. The charge also contains a negative pledge.
9
Related party transactions
At the year end, the company owed the sum of £677,690 (2023: £638,843) to the directors.