Registration number:
J. L. G. Investments Limited
for the Year Ended 31 March 2025
J. L. G. Investments Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
J. L. G. Investments Limited
Company Information
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Directors |
A Godfrey A R Godfrey C M Godfrey C R Godfrey J S Godfrey R S Godfrey R J Godfrey J F Mowat |
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Company secretary |
A Godfrey |
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Registered office |
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Accountants |
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J. L. G. Investments Limited
(Registration number: 00401798)
Balance Sheet as at 31 March 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
1,238,000 |
1,238,000 |
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Other reserves |
3,315,063 |
3,672,563 |
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Retained earnings |
3,043,028 |
2,884,706 |
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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:
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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
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J. L. G. Investments Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
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General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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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:
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Asset class |
Depreciation method and rate |
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Motor vehicles |
25% p.a. on cost |
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Fixtures and equipment |
10% p.a. on cost |
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Other property, plant and equipment |
10% p.a. on cost |
Investment property
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.
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Staff numbers |
The average number of people (including directors) employed by the company in the year was
J. L. G. Investments Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
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Tangible assets |
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Motor vehicles |
Other property, plant and equipment |
Total |
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Cost or valuation |
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At 1 April 2024 |
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At 31 March 2025 |
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Depreciation |
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At 1 April 2024 |
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Charge for the year |
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At 31 March 2025 |
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Carrying amount |
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At 31 March 2025 |
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At 31 March 2024 |
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Investment properties |
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2025 |
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At 1 April |
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Fair value adjustments |
( |
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At 31 March |
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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
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Investments |
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2025 |
2024 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
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Cost or valuation |
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At 1 April 2024 |
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Carrying amount |
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At 31 March 2025 |
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At 31 March 2024 |
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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:
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Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2025 |
2024 |
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Subsidiary undertakings |
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15a Byron Road, London, NW7 4AH |
ordinary shares |
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England |
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Debtors |
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Current |
Note |
2025 |
2024 |
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Trade debtors |
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Amounts owed by related parties |
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Prepayments |
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Other debtors |
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J. L. G. Investments Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
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Creditors |
Creditors: amounts falling due within one year
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Note |
2025 |
2024 |
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Due within one year |
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Amounts owed to group undertakings |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
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Note |
2025 |
2024 |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
Non-current loans and borrowings
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2025 |
2024 |
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Bank borrowings |
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Bank borrowings
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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
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Provisions for liabilities |
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Deferred tax |
Total |
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At 1 April 2024 |
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Increase (decrease) in existing provisions |
( |
( |
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At 31 March 2025 |
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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.
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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.
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Share capital |
Allotted, called up and fully paid shares
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2025 |
2024 |
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No. |
£ |
No. |
£ |
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1,238,000 |
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1,238,000 |