Jaxx Tower Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10312726 (England and Wales)

JAXX TOWER LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 SEPTEMBER 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTOR:

M W Morgan

REGISTERED OFFICE:

3rd Floor The Post House

Adelaide Street

Swansea

SA1 1SB

REGISTERED NUMBER:

10312726 (England and Wales)

ACCOUNTANTS:

Bevan Buckland LLP

Langdon House

Langdon Road

SA1 Swansea Waterfront

Swansea

SA1 8QY

FIXED ASSETS

Investment property

4

330,000

330,000

CURRENT ASSETS

Debtors

5

-

13,660

Cash at bank

14,055

1,640

14,055

15,300

CREDITORS

Amounts falling due within one year

6

340,440

532,076

NET CURRENT LIABILITIES

(326,385

)

(516,776

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,615

(186,776

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

3,614

(186,777

)

3,615

(186,776

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 29 June 2020 and were signed by:

M W Morgan - Director

1.	STATUTORY INFORMATION

Jaxx Tower 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

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.

Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered.

Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short

maturity of three months or less from the date of acquisition or opening of the deposit or similar

account.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a

past event that will probably result in the transfer of funds to a third party and the amount due to settle

the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised

at their settlement amount after allowing for any trade discounts due.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial

instruments. Basic financial instruments are initially recognised at transaction value and subsequently

measured at their settlement value.

Presentational and functional currency

The presentational and functional currency is £ sterling.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation

that the company has adequate resources to continue in operational existence for the foreseeable

future. The company therefore continues to adopt the going concern basis in preparing its financial

statements.

3.	EMPLOYEES AND DIRECTORS

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

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2018

and 30 September 2019

330,000

NET BOOK VALUE

At 30 September 2019

330,000

At 30 September 2018

330,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Amounts owed by related entities

-

1

Other debtors

-

13,659

-

13,660

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

262

-

Amounts owed to related entities

339,028

530,996

Other creditors

1,150

1,080

340,440

532,076

7.	RELATED PARTY DISCLOSURES

During the year a debt was waived from The Original Travel House Ltd of £200,996 which is a

company owned and controlled by MW Morgan.

The amounts (owed to) / owed by related parties at the year end are as follows

2019

2018

£

£

Travel House

(330,000

)

(530,996

)

Jaxx Bay Limited

(9,029

)

-

The following reproduces the text of the report prepared for the director in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain

other primary statements and the Report of the Director are not required to be filed with the Registrar

of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of Jaxx Tower Limited for the year ended 30 September 2019 which comprise the

Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's

accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Jaxx Tower Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Jaxx Tower Limited and state those matters that we have agreed to state to the director of Jaxx Tower Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Jaxx Tower Limited and its director for our work or for this report.

It is your duty to ensure that Jaxx Tower Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Jaxx Tower Limited. You consider that Jaxx Tower Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Jaxx Tower Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Bevan Buckland LLP

Langdon House

Langdon Road

SA1 Swansea Waterfront

Swansea

SA1 8QY

29 June 2020