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COMPANY REGISTRATION NUMBER: 11769766
Jacuna Ltd
Filleted Unaudited Financial Statements
31 March 2024
Jacuna Ltd
Financial Statements
Year ended 31 March 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Jacuna Ltd
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
11,522,619
11,716,645
Investments
6
9,014,400
9,014,400
-------------
-------------
20,537,019
20,731,045
Current assets
Debtors
7
1,938,079
2,079,013
Cash at bank and in hand
23,343
529,372
------------
------------
1,961,422
2,608,385
Creditors: amounts falling due within one year
8
9,327,720
8,240,691
------------
------------
Net current liabilities
7,366,298
5,632,306
-------------
-------------
Total assets less current liabilities
13,170,721
15,098,739
Creditors: amounts falling due after more than one year
9
8,030,923
7,556,805
-------------
-------------
Net assets
5,139,798
7,541,934
-------------
-------------
Capital and reserves
Called up share capital
17
17
Share premium account
10,684,802
10,684,802
Capital redemption reserve
1
1
Other reserves
8,162,977
7,236,977
Profit and loss account
( 13,707,999)
( 10,379,863)
-------------
-------------
Shareholders funds
5,139,798
7,541,934
-------------
-------------
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 comprehensive income has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Jacuna Ltd
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 3 April 2025 , and are signed on behalf of the board by:
Mr T P Mountford
Director
Company registration number: 11769766
Jacuna Ltd
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 20-22 Vestry Street, London, N1 7RE, United Kingdom.
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.
Going concern
The accounts have been prepared on a going concern basis which relies upon the continuing support of the investors.
Consolidation
The entity has taken advantage of the option not to prepare consolidated financial statements contained in Section 399 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Tangible assets
Tangible assets are initially recorded at cost, and 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.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Long leasehold property
-
10% straight line
Leasehold improvements
-
10% straight line
Plant and machinery
-
10% straight line
Fixtures and fittings
-
10% straight line
Equipment
-
25% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
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.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. 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, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 29 (2023: 47 ).
5. Tangible assets
Long leasehold property
Leasehold improvements
Plant and machinery
Fixtures, fittings and equipment
Assets under construction
Total
£
£
£
£
£
£
Cost
At 1 Apr 2023
79,009
10,887,828
227,353
130,292
1,385,691
12,710,173
Additions
2,067,402
47,495
2,114,897
Disposals
( 8,882)
( 8,882)
Transfers
( 16,331)
( 1,385,691)
( 1,402,022)
--------
-------------
---------
---------
------------
-------------
At 31 Mar 2024
79,009
12,938,899
227,353
168,905
13,414,166
--------
-------------
---------
---------
------------
-------------
Depreciation
At 1 Apr 2023
6,196
878,697
69,255
39,380
993,528
Charge for the year
7,901
836,289
22,736
33,790
900,716
Disposals
( 2,697)
( 2,697)
--------
-------------
---------
---------
------------
-------------
At 31 Mar 2024
14,097
1,714,986
91,991
70,473
1,891,547
--------
-------------
---------
---------
------------
-------------
Carrying amount
At 31 Mar 2024
64,912
11,223,913
135,362
98,432
11,522,619
--------
-------------
---------
---------
------------
-------------
At 31 Mar 2023
72,813
10,009,131
158,098
90,912
1,385,691
11,716,645
--------
-------------
---------
---------
------------
-------------
6. Investments
Shares in group undertakings
£
Cost
At 1 April 2023 and 31 March 2024
9,014,400
------------
Impairment
At 1 April 2023 and 31 March 2024
------------
Carrying amount
At 31 March 2024
9,014,400
------------
At 31 March 2023
9,014,400
------------
7. Debtors
2024
2023
£
£
Trade debtors
453,535
595,283
Amounts owed by group undertakings and undertakings in which the company has a participating interest
159,406
131,985
Other debtors
1,325,138
1,351,745
------------
------------
1,938,079
2,079,013
------------
------------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
2,855,621
1,512,100
Social security and other taxes
191,294
210,083
Other creditors
6,280,805
6,518,508
------------
------------
9,327,720
8,240,691
------------
------------
Bank loans and overdrafts are secured by way of a fixed and floating charge over the property and undertakings of the company.
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
5,018,000
5,026,000
Other creditors
3,012,923
2,530,805
------------
------------
8,030,923
7,556,805
------------
------------
Bank loans and overdrafts are secured by way of a fixed and floating charge over the property and undertakings of the company. Included within Other creditors are lease incentives with a value of £3,012,923. The lease incentives are released to profit and loss over the lease term.
10. Related party transactions
At the year end the company owed £358 to a director (2023: £101). At the year end the company was owed £99,999 (2023: £99,999) by companies associated by common control.