Company No:
Contents
| DIRECTORS | J M Hood |
| C Y Hood |
| REGISTERED OFFICE | Mills & Reeve Llp |
| 1 St James Court | |
| Norwich | |
| NR3 1RU | |
| United Kingdom |
| COMPANY NUMBER | 10050776 (England and Wales) |
| ACCOUNTANT | S&W Partners LLP |
| Onslow House | |
| Onslow Street | |
| Guildford | |
| GU1 4TL |
| Note | 2025 | 2024 | ||
| £ | £ | |||
| Fixed assets | ||||
| Investment property | 3 |
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| Investments | 4 |
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| 31,452,746 | 26,527,750 | |||
| Current assets | ||||
| Debtors | 5 |
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| Cash at bank and in hand |
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| 2,086,757 | 1,147,187 | |||
| Creditors: amounts falling due within one year | 6 | (
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| Net current assets/(liabilities) | 1,447,139 | (432,180) | ||
| Total assets less current liabilities | 32,899,885 | 26,095,570 | ||
| Provision for liabilities | 7 | (
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| Net assets |
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| Capital and reserves | ||||
| Called-up share capital | 8 |
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| Profit and loss account |
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| Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Amjosa Limited (registered number:
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J M Hood
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Amjosa Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Mills & Reeve Llp, 1 St James Court, Norwich, NR3 1RU, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The functional currency of Amjosa Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.
These financial statements are separate financial statements.
The financial statements have been prepared on a going concern basis.
The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.
Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise on monetary items.
Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.
Financial assets and financial liabilities are recognised in the Balance Sheet when the Company becomes a party to the contractual provisions of the instrument.
Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
Trade and other debtors and creditors are classified as basic financial instruments and measured on initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the Company will not be able to collect all amounts due.
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank, short-term bank deposits with an original maturity of three months or less and bank overdrafts which are an integral part of the Company’s cash management.
Financial liabilities and equity instruments issued by the Company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. Equity instruments issued by the Company are recorded at the proceeds received, net of direct issue costs.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.
| 2025 | 2024 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
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| Investment property | |
| £ | |
| Valuation | |
| As at 01 April 2024 |
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| As at 31 March 2025 |
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The 2025 valuations were made by the directors on an open market value for existing use basis.
Historic cost
If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:
| 2025 | 2024 | ||
| £ | £ | ||
| Historic cost | 7,270,007 | 7,270,007 |
| Listed investments | Other investments | Total | |||
| £ | £ | £ | |||
| Cost or valuation before impairment | |||||
| At 01 April 2024 |
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| Additions |
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| Disposals |
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| Movement in fair value |
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| At 31 March 2025 |
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| Carrying value at 31 March 2025 |
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| Carrying value at 31 March 2024 |
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| 2025 | 2024 | ||
| £ | £ | ||
| Trade debtors |
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| Amounts owed by Parent undertakings |
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| Other debtors |
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| 2025 | 2024 | ||
| £ | £ | ||
| Trade creditors |
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| Taxation and social security |
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| Other creditors |
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| 2025 | 2024 | ||
| £ | £ | ||
| At the beginning of financial year | (
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| Charged to the Statement of Income and Retained Earnings |
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| At the end of financial year | (
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| 2025 | 2024 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
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| 500,000 | 500,000 | ||
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| 21,000,000 | 14,972,000 |
Other financial commitments
The Company has made commitments to invest up to €23,500,000 (2024 - €23,000,000) and $2,500,000 (2024 - $2,500,000) in unlisted investment funds. At the year end, €17,203,774 (2024 - €14,582,414) and $1,310,000 (2024 - $800,000) had been invested.
As at 1 April 2024, the balance owed to the director under the director's loan account amounted to £1,318,379. As at 30 August 2024, the lender converted the outstanding debt of €1,498,824 into £1,260,061. Both parties confirmed that no sums remained outstanding under the loan letter.
On 3 September 2024 the Company issued 6,028,000 redeemable preference shares each at an issue price of £1 per share to the directors. The directors made payments of £4,767,939 to the Company with the remainder to settle the outstanding balance on the director's loan account.
The original loan carried interest at 3% per annum, with interest accrued on a time‑apportioned basis up to 3 September 2024. Interest paid in the year ended 31 March 2025 amounted to £12,431 (2024 - £38,532). The directors also personally covered expenses totalling £5,844 during the period. At the year end, an amount of £18,275 (2024 - £1,318,379) was outstanding.
During the year, the Company loaned £5,844 (2024 - £13,074) to its parent entity, Amjosa Limited Partnership. At the year end, the balance outstanding was £38,918 (2024 - £33,074). These loans are unsecured, interest free and repayable on demand.
The ultimate parent undertaking is Amjosa Partnership (GP) Limited, a company registered in England and Wales.
The directors do not consider there to be an ultimate controlling party