J. L. G. Investments Limited 00401798 false 2024-04-01 2025-03-31 2025-03-31 The principal activity of the company is property investment. Digita Accounts Production Advanced 6.30.9574.0 true false true true 00401798 2024-04-01 2025-03-31 00401798 2025-03-31 00401798 bus:OrdinaryShareClass1 2025-03-31 00401798 core:CurrentFinancialInstruments 2025-03-31 00401798 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 00401798 core:Non-currentFinancialInstruments 2025-03-31 00401798 core:Non-currentFinancialInstruments core:AfterOneYear 2025-03-31 00401798 core:MotorVehicles 2025-03-31 00401798 core:OtherPropertyPlantEquipment 2025-03-31 00401798 core:DeferredTaxation 2025-03-31 00401798 1 2025-03-31 00401798 bus:SmallEntities 2024-04-01 2025-03-31 00401798 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 00401798 bus:FilletedAccounts 2024-04-01 2025-03-31 00401798 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 00401798 bus:RegisteredOffice 2024-04-01 2025-03-31 00401798 bus:CompanySecretaryDirector1 2024-04-01 2025-03-31 00401798 bus:Director12 2024-04-01 2025-03-31 00401798 bus:Director3 2024-04-01 2025-03-31 00401798 bus:Director4 2024-04-01 2025-03-31 00401798 bus:Director5 2024-04-01 2025-03-31 00401798 bus:Director6 2024-04-01 2025-03-31 00401798 bus:Director7 2024-04-01 2025-03-31 00401798 bus:Director9 2024-04-01 2025-03-31 00401798 bus:OrdinaryShareClass1 2024-04-01 2025-03-31 00401798 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 00401798 core:FurnitureFittings 2024-04-01 2025-03-31 00401798 core:MotorVehicles 2024-04-01 2025-03-31 00401798 core:OtherPropertyPlantEquipment 2024-04-01 2025-03-31 00401798 core:DeferredTaxation 2024-04-01 2025-03-31 00401798 core:Subsidiary1 2024-04-01 2025-03-31 00401798 core:Subsidiary1 countries:England 2024-04-01 2025-03-31 00401798 1 2024-04-01 2025-03-31 00401798 countries:AllCountries 2024-04-01 2025-03-31 00401798 2024-03-31 00401798 core:MotorVehicles 2024-03-31 00401798 core:OtherPropertyPlantEquipment 2024-03-31 00401798 core:DeferredTaxation 2024-03-31 00401798 2023-04-01 2024-03-31 00401798 2024-03-31 00401798 bus:OrdinaryShareClass1 2024-03-31 00401798 core:CurrentFinancialInstruments 2024-03-31 00401798 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 00401798 core:Non-currentFinancialInstruments 2024-03-31 00401798 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 00401798 core:CostValuation 2024-03-31 00401798 core:MotorVehicles 2024-03-31 00401798 core:OtherPropertyPlantEquipment 2024-03-31 00401798 1 2024-03-31 00401798 core:Subsidiary1 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 00401798

J. L. G. Investments Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

J. L. G. Investments Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

J. L. G. Investments Limited

Company Information

Directors

A Godfrey

A R Godfrey

C M Godfrey

C R Godfrey

J S Godfrey

R S Godfrey

R J Godfrey

J F Mowat

Company secretary

A Godfrey

Registered office

15a Byron Road
London
NW7 4AH

Accountants

Sable & Argent Limited
Chartered Accountants
2 Elvetham Crescent
Fleet
Hampshire
GU51 1BU

 

J. L. G. Investments Limited

(Registration number: 00401798)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

47,650

60,500

Investment property

5

10,505,000

11,015,000

Investments

6

100

100

 

10,552,750

11,075,600

Current assets

 

Debtors

7

2,448,899

3,418,897

Cash at bank and in hand

 

308,143

181,717

 

2,757,042

3,600,614

Creditors: Amounts falling due within one year

8

(376,729)

(389,896)

Net current assets

 

2,380,313

3,210,718

Total assets less current liabilities

 

12,933,063

14,286,318

Creditors: Amounts falling due after more than one year

8

(5,000,000)

(6,000,000)

Provisions for liabilities

10

(336,972)

(491,049)

Net assets

 

7,596,091

7,795,269

Capital and reserves

 

Called up share capital

12

1,238,000

1,238,000

Other reserves

3,315,063

3,672,563

Retained earnings

3,043,028

2,884,706

Shareholders' funds

 

7,596,091

7,795,269

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 9 May 2025 and signed on its behalf by:

C R Godfrey
Director

   
     
 

J. L. G. Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
15a Byron Road
London
NW7 4AH

These financial statements were authorised for issue by the Board on 9 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for letting of property in the period, net of value added tax.

The company recognises revenue from property in the period to which it relates.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

J. L. G. Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% p.a. on cost

Fixtures and equipment

10% p.a. on cost

Other property, plant and equipment

10% p.a. on cost

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate and with reference to the rents receivable, determined annually by the directors but with reference to periodic valuations by external independent valuers in accordance with the requirements of the company's bankers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from tenants in respect of property lettings and property services provided to tenants in the accounting period. Trade debtors are recognised at the transaction price less a provision for bad debts where it is probable that the amount may not be recovered.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

J. L. G. Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Borrowings

Interest-bearing borrowings due after more than one year are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Borrowings due within one year are included at the transaction value.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of people (including directors) employed by the company in the year was 8 (2024: 8).

 

J. L. G. Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4

Tangible assets

Motor vehicles
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 April 2024

54,000

84,714

138,714

At 31 March 2025

54,000

84,714

138,714

Depreciation

At 1 April 2024

25,750

52,464

78,214

Charge for the year

6,500

6,350

12,850

At 31 March 2025

32,250

58,814

91,064

Carrying amount

At 31 March 2025

21,750

25,900

47,650

At 31 March 2024

28,250

32,250

60,500

5

Investment properties

2025
£

At 1 April

11,015,000

Fair value adjustments

(510,000)

At 31 March

10,505,000

The investment properties are revalued annually by the directors by reference to both rental income yields and the market value of other properties similar to those held by the company, and taking account of periodic professional valuations.

On a cyclic basis the properties are valued by professional valuers with approximately one third of the properties revalued annually.

 

J. L. G. Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6

Investments

2025
£

2024
£

Investments in subsidiaries

100

100

Subsidiaries

£

Cost or valuation

At 1 April 2024

100

Carrying amount

At 31 March 2025

100

At 31 March 2024

100

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2025

2024

Subsidiary undertakings

Amadeus Properties Limited

15a Byron Road, London, NW7 4AH

ordinary shares

100%

100%

 

England

     

7

Debtors

Current

Note

2025
£

2024
£

Trade debtors

 

43,275

153,349

Amounts owed by related parties

2,278,764

3,169,803

Prepayments

 

44,815

69,738

Other debtors

 

82,045

26,007

   

2,448,899

3,418,897

 

J. L. G. Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

8

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Amounts owed to group undertakings

7,458

7,278

Taxation and social security

 

84,313

76,596

Accruals and deferred income

 

280,194

296,260

Other creditors

 

4,764

9,762

 

376,729

389,896

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

9

5,000,000

6,000,000

9

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

5,000,000

6,000,000

Bank borrowings

The company's bank loan is denominated in sterling with a nominal interest rate of 2.6% above base rate, and the final instalment is due on 22 January 2027. The carrying amount at year end is £5,000,000 (2024: £6,000,000).

The company's bank loan is jointly secured over specific properties owned by the company and by its subsidiary.

 

J. L. G. Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

10

Provisions for liabilities

Deferred tax
£

Total
£

At 1 April 2024

491,049

491,049

Increase (decrease) in existing provisions

(154,077)

(154,077)

At 31 March 2025

336,972

336,972

Deferred tax is provided on the unrealised gains in respect of the increase in value of the company's investment properties. There are currently no intentions to sell any of the properties so no anticipated payments of this tax are expected in the foreseeable future.

11

Reserves

The company maintains a separate reserve (called "non-distributable reserve") for the unrealised gains which are the aggregate of increases and decreases in the value of the company's current portfolio of investment properties, less the deferred tax that has been provided on these gains.

12

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary X shares of £1 each

1,238,000

1,238,000

1,238,000

1,238,000