SJO Enterprises Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07145629 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2019

FOR

SJO ENTERPRISES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D A Owen

SECRETARY:

Mrs S J Owen

REGISTERED OFFICE:

Vantage House

6-7 Claydons Lane

Rayleigh

Essex

SS6 7UP

REGISTERED NUMBER:

07145629 (England and Wales)

FIXED ASSETS

Tangible assets

4

-

-

Investments

5

10,566,470

18,146,458

Investment property

6

2,387,235

1,903,527

12,953,705

20,049,985

CURRENT ASSETS

Debtors

7

11,556,945

3,305,455

Cash at bank

1,640,156

250,246

13,197,101

3,555,701

CREDITORS

Amounts falling due within one year

8

(836,698

)

(2,521,307

)

NET CURRENT ASSETS

12,360,403

1,034,394

TOTAL ASSETS LESS CURRENT LIABILITIES

25,314,108

21,084,379

CREDITORS

Amounts falling due after more than one year

9

(14,438,678

)

(7,438,678

)

NET ASSETS

10,875,430

13,645,701

CAPITAL AND RESERVES

Called up share capital

10

1

1

Revaluation reserve

11

10,528,965

18,108,952

Retained earnings

11

346,464

(4,463,252

)

SHAREHOLDERS' FUNDS

10,875,430

13,645,701

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director on 28 May 2019 and were signed by:

D A Owen - Director

1.	STATUTORY INFORMATION

SJO Enterprises Limited 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents the invoiced amounts of services provided, net of value added tax.

Tangible fixed assets

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

Office equipment

-

Straight line over 5 years

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 Income Statement, 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

Contributions to the company's defined contribution pension scheme are charged to the profit and loss account in the year

to which they become due.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - NIL).

4.	TANGIBLE FIXED ASSETS

Office

equipment

£

COST

At 1 May 2018

and 30 April 2019

10,539

DEPRECIATION

At 1 May 2018

and 30 April 2019

10,539

NET BOOK VALUE

At 30 April 2019

-

At 30 April 2018

-

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 May 2018

18,146,458

Revaluations

(7,579,988

)

At 30 April 2019

10,566,470

NET BOOK VALUE

At 30 April 2019

10,566,470

At 30 April 2018

18,146,458

Cost or valuation at 30 April 2019 is represented by:

Other

investments

£

Valuation in 2015

1,466,471

Valuation in 2016

440,632

Valuation in 2017

338,939

Valuation in 2018

15,862,914

Valuation in 2019

(7,579,988

)

Cost

37,502

10,566,470

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2018

1,903,527

Additions

483,708

At 30 April 2019

2,387,235

NET BOOK VALUE

At 30 April 2019

2,387,235

At 30 April 2018

1,903,527

7.

DEBTORS

2019

2018

£

£

Amounts falling due within one year:

Trade debtors

-

13,961

Other debtors

-

317

-

14,278

Amounts falling due after more than one year:

Other debtors

11,556,945

3,291,177

Aggregate amounts

11,556,945

3,305,455

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

-

667

Other creditors

836,698

2,520,640

836,698

2,521,307

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Other creditors

14,438,678

7,438,678

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

1

Ordinary

£1

1

1

11.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 May 2018

(4,463,252

)

18,108,952

13,645,700

Profit for the year

11,809,716

11,809,716

Dividends

(7,000,000

)

(7,000,000

)

Revaluation movement

-

(7,579,987

)

(7,579,987

)

At 30 April 2019

346,464

10,528,965

10,875,429

12.	RELATED PARTY DISCLOSURES

During the year the company entered into the following transactions with related parties:

Sales to related parties

Party

2019

2018

Relationship

Vector Property Investments Limited

-

-

Common officers

DGM Investment Company Limited

23,000

-

Subsidiary

DGM (Broadway) Limited

-

-

Subsidiary

Vektor Capital

-

157,324

Subsidiary

Vektor Puljeinvest III ApS

-

-

Common officers

Vector Property Management Limited

-

40,000

Director is Spouse of SJO director

Loans to related parties

Party

2019

2018

Relationship

Vektor Capital Investments ApS

7,273,629

-

Common officers

DGM (Broadway) Limited

1,012,796

412,796

Subsidiary

DGM Investment Company Limited

2,069,999

769,999

Subsidiary

Vektor Puljeinvest III

-

-

Common officers

Vector Capital Finance Limited

5,000

5,000

Common officers

DGM Property Rentals Limited

421,845

871,845

Subsidiary

DGM (Chelmsford) Limited

504,999

49,999

Subsidiary

Loans from related parties

Party

2019

2018

Relationship

S J Owen

-

969,276

Spouse of Director loan

D A Owen

836,457

-

Directors loan

DGM London Road Limited

1

1

Subsidiary

DGM (Chelmsford) Limited

-

-

Subsidiary

Vektor Capital Investments ApS

-

1,421,951

Subsidiary

Vector Property Management Limited

-

129,192

Director is Spouse of SJO director

Blackheath Instruments Limited

14,438,678

7,438,678

Ultimate Parent Company

13.	ULTIMATE CONTROLLING PARTY

The ultimate parent company is Blackheath Instruments Limited, a company incorporated in Gibraltar.