Jaynic Investments LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC341984 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2021

for

Jaynic Investments LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

N S Rumsey

Mrs J E Rumsey

REGISTERED OFFICE:

Somerton House

Forest Road

Winkfield Row

Bracknell

Berkshire

RG42 7NJ

REGISTERED NUMBER:

OC341984 (England and Wales)

ACCOUNTANTS:

Fisher Michael Chartered Accountants

The Old Grange

Warren Estate

Lordship Road

Writtle

Essex

CM1 3WT

FIXED ASSETS

Tangible assets

4

15,917

20,510

Investments

5

12,877,482

6,806,016

12,893,399

6,826,526

CURRENT ASSETS

Debtors

6

408,283

621,574

Cash at bank

11,514

884,698

419,797

1,506,272

CREDITORS

Amounts falling due within one year

7

2,244,396

3,209,812

NET CURRENT LIABILITIES

(1,824,599

)

(1,703,540

)

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

11,068,800

5,122,986

LOANS AND OTHER DEBTS DUE TO MEMBERS

8

11,068,800

5,122,986

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

11,068,800

5,122,986

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 30 June 2021.

The members acknowledge their responsibilities for:

(a)	ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 19 November 2021 and were signed by:

N S Rumsey - Designated member

1.	STATUTORY INFORMATION

Jaynic Investments LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General 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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

No significant judgements or estimations have been applied in the preparation of the financial statements.

Tangible fixed assets

Tangible fixed assets are initially measured at cost. After initial recognition, tangible fixed assets are measured at cost less any accumulated depreciation and any accumulated impairment losses.

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

- Property improvements - straight line over 10 years

- Computer equipment - straight line over 3 years

Investments

Land held for its investment potential is included in the financial statements at fair value. Interest on any borrowings directly attributable to the original purchase of the land are added to the carrying value.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term creditors are measured at the transaction price.

Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest rate method.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 3 (2020 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2020

and 30 June 2021

49,535

DEPRECIATION

At 1 July 2020

29,025

Charge for year

4,593

At 30 June 2021

33,618

NET BOOK VALUE

At 30 June 2021

15,917

At 30 June 2020

20,510

5.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

2021

2020

£

£

Land

12,877,482

6,806,016

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Amounts owed by related parties

404,788

620,534

Other debtors

3,495

1,040

408,283

621,574

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

-

2,250,000

Trade creditors

10,476

4,674

Amounts owed to related parties

1,733,108

-

Other creditors

500,812

955,138

2,244,396

3,209,812

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2021

2020

£

£

Amounts owed to members in respect of profits

11,068,800

5,122,986

Falling due within one year

11,068,800

5,122,986

In the event of the Limited Liability Partnership being wound up, all unsecured creditors would rank equally. There is no provision for specific legal enforceable protection afforded to creditors in such an event. There are no restrictions or limitations that exist on the members to reduce the 'Members other interest'.