Registered number
14360612
JASCO 7 Limited
Unaudited Filleted Accounts
28 February 2025
JASCO 7 Limited
Registered number: 14360612
Balance Sheet
as at 28 February 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 37,034 25,062
Investments 4 490,765 309,134
527,799 334,196
Current assets
Debtors 5 118,386 12,855
Cash at bank and in hand 33,586 21,335
151,972 34,190
Creditors: amounts falling due within one year 6 (617,642) (376,436)
Net current liabilities (465,670) (342,246)
Net assets/(liabilities) 62,129 (8,050)
Capital and reserves
Called up share capital 100 100
Profit and loss account 62,029 (8,150)
Shareholder's funds 62,129 (8,050)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ian Smith
Director
Approved by the board on 3 June 2025
JASCO 7 Limited
Notes to the Accounts
for the year ended 28 February 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures and fittings over 4 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Fixtures and fittings
£
Cost
At 29 February 2024 38,805
Additions 35,819
Disposals (10,381)
At 28 February 2025 64,243
Depreciation
At 29 February 2024 13,743
Charge for the year 16,061
On disposals (2,595)
At 28 February 2025 27,209
Net book value
At 28 February 2025 37,034
At 28 February 2024 25,062
4 Investments
Investment
property
£
Cost
At 29 February 2024 309,134
Additions 490,765
Disposals (309,134)
At 28 February 2025 490,765
Other investments consists of an investment property. The fair value of the investment property is assessed at the end of every accounting period. The directors consider that this value has not changed significantly since purchase.
5 Debtors 2025 2024
£ £
Trade debtors 4,702 2,523
Deferred tax asset 102,924 -
Other debtors 10,760 10,332
118,386 12,855
6 Creditors: amounts falling due within one year 2025 2024
£ £
Other creditors 617,642 376,436
7 Related party transactions
The company owes £220,000 (2024 - £70,000) to Ian Smith, director. This loan is repayable on demand and interest is being charged at 10% per annum. The company owes £285,189 to The Manderley Settlement, shareholder and £13,105 (2024 - £11,767) to Alfred and Joyce Smith, directors. These loans are interest-free and repayable on demand. All loans are included in other creditors in these accounts.
8 Controlling party
The company is controlled by the directors, as Trustees of The Manderley Settlement, the shareholder.
9 Other information
JASCO 7 Limited is a private company limited by shares and incorporated in England. Its registered office is:
22 South Clifton Street
Lytham St. Annes
Lancashire
FY8 5HG
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