DMJ Asset Management Ltd. - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02476686 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

FOR

DMJ Asset Management Ltd.

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

8

Directors:

D Yorath

M Yorath

Secretary:

M Yorath

Registered office:

The Old Drill Hall

Tavistock

Cornwall

PL19 0DZ

Registered number:

02476686 (England and Wales)

Accountants:

Nigel Webster & Co

129 North Hill

Plymouth

Devon

PL4 8JY

Fixed assets

Tangible assets

4

-

1,952,695

Investments

5

-

10,521

Investment property

6

3,600,000

-

3,600,000

1,963,216

Current assets

Debtors

7

1,588,129

259,341

Investments

8

416,744

-

Cash at bank and in hand

1,363,669

1,405,076

3,368,542

1,664,417

Creditors

Amounts falling due within one year

9

75,941

388,605

Net current assets

3,292,601

1,275,812

Total assets less current liabilities

6,892,601

3,239,028

Provisions for liabilities

10

146,658

-

Net assets

6,745,943

3,239,028

Capital and reserves

Called up share capital

11

6,900

6,900

Revaluation reserve

12

1,500,648

-

Capital redemption reserve

12

3,100

3,100

Retained earnings

12

5,235,295

3,229,028

Shareholders' funds

6,745,943

3,239,028

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 1 May 2019 and were signed on its behalf by:

D Yorath - Director

M Yorath - Director

1.	STATUTORY INFORMATION

DMJ Asset Management Ltd. is a private company, limited by shares , registered in England

and Wales. The company's registered number and registered office address can be found

on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section

1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard

applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial

statements have been prepared under the historical cost convention as modified by the

revaluation of certain assets.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

1% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit

arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit &

Loss Account, except to the extent that it relates to items recognised in other comprehensive

income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that

have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in

periods different from those in which they are recognised in financial statements. Deferred

tax is measured using tax rates and laws that have been enacted or substantively enacted

by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2017 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

property

£

Cost or valuation

At 1 January 2018

2,083,028

Reclassification

(2,083,028

)

At 31 December 2018

-

Depreciation

At 1 January 2018

130,333

Reclassication

(130,333

)

At 31 December 2018

-

Net book value

At 31 December 2018

-

At 31 December 2017

1,952,695

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

Cost

At 1 January 2018

10,521

Disposals

(10,521

)

At 31 December 2018

-

Net book value

At 31 December 2018

-

At 31 December 2017

10,521

6.	INVESTMENT PROPERTY

Total

£

Fair value

Reclassfied from fixed assets

1,952,695

Revaluation

1,647,305

At 31 December 2018

3,600,000

Net book value

At 31 December 2018

3,600,000

The directors have valued investment property at the balance sheet date at open market

value. This is the first year of valuation following the disposal of all the company's

subsidiaries who previously occupied those properties.

7.

DEBTORS

2018

2017

£

£

Amounts falling due within one year:

Trade debtors

33,545

18,420

Other debtors

497,372

10,709

Directors' loan accounts

226,736

229,736

Prepayments

476

476

758,129

259,341

Amounts falling due after more than one year:

Other debtors

830,000

-

Aggregate amounts

1,588,129

259,341

8.	CURRENT ASSET INVESTMENTS

2018

2017

£

£

Listed investments

416,744

-

Fair Values of listed investments are calculated according to the mid market price at the

balance sheet date.

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

258

206

Amounts owed to group undertakings

-

228,473

Tax

35,185

46,200

Social security and other taxes

1,449

2,062

VAT

16,953

13,744

Other creditors

445

81,445

Accruals

21,651

16,475

75,941

388,605

10.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred tax

146,658

-

Deferred

tax

£

Provided during year

146,658

Balance at 31 December 2018

146,658

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

6,900

Ordinary

£1

6,900

6,900

12.

RESERVES

Capital

Retained

Revaluation

redemption

earnings

reserve

reserve

Totals

£

£

£

£

At 1 January 2018

3,229,028

-

3,100

3,232,128

Profit for the year

3,515,319

-

-

3,515,319

Dividends

(8,404

)

-

-

(8,404

)

Transfer to revaluation reserve

(1,500,648

)

1,500,648

-

-

At 31 December 2018

5,235,295

1,500,648

3,100

6,739,043

13.	RELATED PARTY DISCLOSURES

At the balance sheet date the following amounts were owed to the company by related

parties : -

Mr D Yorath (Director) owed the company £226,736 and was charged interest of £3,900 on

this loan.

Mrs J Yorath (Wife of Director) owed the company £4,300. No interest was charged on this

loan.

14.	ULTIMATE CONTROLLING PARTY

The controlling party is D Yorath.