JD Investments (Bolton) Limited - Period Ending 2019-09-30

Registration number: 07710554

JD Investments (Bolton) Limited

Unaudited Financial Statements

for the Year Ended 30 September 2019

JD Investments (Bolton) Limited

Contents

Statement of Financial Position	1 to 2
Notes to the Financial Statements	3 to 6

JD Investments (Bolton) Limited

(Registration number: 07710554)
Statement of Financial Position as at 30 September 2019

	Note	2019 £	2018 £
Fixed assets
Investment property	4	525,000	394,101
Current assets
Debtors	5	226,794	158,393
Cash at bank and in hand		236	70,720
		227,030	229,113
Creditors: Amounts falling due within one year	6	(81,644)	(90,824)
Net current assets		145,386	138,289
Total assets less current liabilities		670,386	532,390
Creditors: Amounts falling due after more than one year	6	(343,988)	(369,024)
Provisions for liabilities		(24,871)	-
Net assets		301,527	163,366
Capital and reserves
Called up share capital		100	100
Non-distributable reserve		106,028	-
Profit and loss account		195,399	163,266
Total equity		301,527	163,366

The notes on pages 3 to 6 form an integral part of these financial statements.

Page 1

JD Investments (Bolton) Limited

(Registration number: 07710554)
Statement of Financial Position as at 30 September 2019

For the financial year ending 30 September 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	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 and the option not to file the Income Statement has been taken.

Approved and authorised by the Board on 29 June 2020 and signed on its behalf by:
 

.........................................

Mr D N Holt
Director

.........................................

Mrs K Holt
Director

The notes on pages 3 to 6 form an integral part of these financial statements.

Page 2

JD Investments (Bolton) Limited

Notes to the Financial Statements for the Year Ended 30 September 2019

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Whitehill House
Grimeford Lane
Bolton
Lancashire
BL6 5LD

These financial statements were authorised for issue by the Board on 29 June 2020.

2	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 FRS 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

Page 3

JD Investments (Bolton) Limited

Notes to the Financial Statements for the Year Ended 30 September 2019

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in the income statement.

Borrowings

Interest-bearing borrowings 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 Income Statement over the period of the relevant borrowing.

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the statement of financial position. The corresponding dividends relating to the liability component are charged as interest expense in the income statement.
 
 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2018 - 2).

4	Investment properties

	2019 £
At 1 October 2017 and 30 September 2018	394,101
Fair value adjustments	130,899
At 30 September	525,000

The investment property was valued on 30 December 2016 by Pinders. In the opinion of the directors, this valuation equates to the open market value. The comparable historical cost of the investment property is £394,101.

Page 4

JD Investments (Bolton) Limited

Notes to the Financial Statements for the Year Ended 30 September 2019

5

Debtors

	2019 £	2018 £
Other debtors	226,794	158,393
	226,794	158,393

6

Creditors

Creditors: amounts falling due within one year

	Note	2019 £	2018 £
Due within one year
Loans and borrowings	7	29,817	29,245
Taxation and social security		15,780	15,442
Accruals and deferred income		1,200	1,200
Other creditors		34,847	44,937
		81,644	90,824

Creditors: amounts falling due after more than one year

	Note	2019 £	2018 £
Due after one year
Loans and borrowings	7	343,988	369,024

Included in the creditors are the following amounts due after more than five years.

	2019 £	2018 £
Due after more than five years
After more than five years by instalments	-	145,202

	-	-

7	Loans and borrowings

	2019 £	2018 £
Non-current loans and borrowings
Bank borrowings	343,988	369,024

Page 5

JD Investments (Bolton) Limited

Notes to the Financial Statements for the Year Ended 30 September 2019

	2019 £	2018 £
Current loans and borrowings
Bank borrowings	29,817	29,245

Bank loans are secured by The Royal Bank of Scotland by fixed and floating charges over all the company's assets and undertakings.

8	Related party transactions

Summary of transactions with other related parties

The Owls Nursery Limited
  (Mr D N Holt and Mrs K Holt are both directors of The Owls Nursery Limited)

The Owls Nursery Limited has provided a cross guarantee for bank loans included within JD Investments (Bolton) Limited. The liability at the balance sheet date included within JD Investments (Bolton) Limited was £373,805 (2018 - £398,269).
 

Page 6