JOVERN LTD

Company Registration Number:
15004252 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2024

Period of accounts

Start date: 14 July 2023

End date: 31 December 2024

JOVERN LTD

Contents of the Financial Statements

for the Period Ended 31 December 2024

Balance sheet
Notes

JOVERN LTD

Balance sheet

As at 31 December 2024


Notes
18 months to 31 December 2024


£
Fixed assets
Investments: 3 552,794
Total fixed assets: 552,794
Current assets
Cash at bank and in hand: 143
Total current assets: 143
Creditors: amounts falling due within one year: 4 (87,853)
Net current assets (liabilities): (87,710)
Total assets less current liabilities: 465,084
Creditors: amounts falling due after more than one year: 5 (464,300)
Total net assets (liabilities): 784
Capital and reserves
Called up share capital: 2
Profit and loss account: 782
Shareholders funds: 784

The notes form part of these financial statements

JOVERN LTD

Balance sheet statements

For the year ending 31 December 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 04 May 2025
and signed on behalf of the board by:

Name: Wei Vern Lee
Status: Director

The notes form part of these financial statements

JOVERN LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

JOVERN LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

2. Employees

18 months to 31 December 2024
Average number of employees during the period 1

JOVERN LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

3. Fixed investments

The company owns 100% of the issued share capital of Wickham Market Medical Centre Ltd, a company incorporated in England and Wales. The subsidiary’s principal activity is the operation of a pharmacy. The investment in its subsidiary is stated at cost less any provision for impairment in value. Management have reviewed the carrying value of the investment and concluded that no impairment is required as the subsidiary continues to generate positive cash flows and profits.

JOVERN LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

4. Creditors: amounts falling due within one year note

Includes £17,152 in respect to a bank loan which is secured by fixed and floating charges registered at Companies House over the assets of both the company and its subsidiary, Wickham Market Medical Centre Ltd.

JOVERN LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

5. Creditors: amounts falling due after more than one year note

Includes £309,471 from the same bank loan which is secured by fixed and floating charges registered at Companies House over the assets of both the company and its subsidiary, Wickham Market Medical Centre Ltd.

JOVERN LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

6. Related party transactions

Name of the related party:
Relationship:
Director
Description of the Transaction: During the year, a director of the company provided funding of £154,829 towards the acquisition of Wickham Market Medical Centre Ltd. This amount remains outstanding at the year end. The loan is unsecured, interest-free and repayable on demand. The outstanding balance is included within creditors falling due after more than one year.
£
Balance at 31 December 2024 154,829
Name of the related party:
Relationship:
Wholly owned subsidiary
Description of the Transaction: During the year, the company charged Wickham Market Medical Centre Ltd £22,000 for management services. At the year-end, an amount of £70,105 was owed to Wickham Market Medical Centre Ltd and is included in creditors less than one year, amounts due to group undertakings. Additionally, the company obtained a loan facility secured against its investment in Wickham Market Medical Centre Ltd, a wholly owned subsidiary. The loan was originally drawn down in the amount of £337,500 to fund the acquisition of the subsidiary. Interest of £19,460 was paid during the period. The balance outstanding at the year-end was £326,623. These transactions were conducted on terms equivalent to those that would prevail in an arm’s length transaction.
£
Balance at 31 December 2024 70,105