Jazz Investments Limited Filleted accounts for Companies House (small and micro)

JAZZ INVESTMENTS LIMITED - Company Information

0 false false false false false false false false false true false false false false false false No description of principal activity 2021-05-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 04029242 2021-05-01 2022-04-30 04029242 2022-04-30 04029242 2021-04-30 04029242 2021-04-30 04029242 core:FurnitureFittings 2021-05-01 2022-04-30 04029242 bus:Director1 2021-05-01 2022-04-30 04029242 bus:Director2 2021-05-01 2022-04-30 04029242 core:FurnitureFittings 2021-04-30 04029242 core:LandBuildings 2022-04-30 04029242 core:FurnitureFittings 2022-04-30 04029242 core:WithinOneYear 2022-04-30 04029242 core:WithinOneYear 2021-04-30 04029242 core:ShareCapital 2022-04-30 04029242 core:ShareCapital 2021-04-30 04029242 core:OtherReservesSubtotal 2022-04-30 04029242 core:OtherReservesSubtotal 2021-04-30 04029242 core:RetainedEarningsAccumulatedLosses 2022-04-30 04029242 core:RetainedEarningsAccumulatedLosses 2021-04-30 04029242 core:LandBuildings 2021-04-30 04029242 core:FurnitureFittings 2021-04-30 04029242 bus:Director2 2021-04-30 04029242 bus:Director2 2020-04-30 04029242 bus:Director2 2021-04-30 04029242 bus:Director2 2020-05-01 2021-04-30 04029242 bus:SmallEntities 2021-05-01 2022-04-30 04029242 bus:AuditExemptWithAccountantsReport 2021-05-01 2022-04-30 04029242 bus:FullAccounts 2021-05-01 2022-04-30 04029242 bus:SmallCompaniesRegimeForAccounts 2021-05-01 2022-04-30 04029242 bus:PrivateLimitedCompanyLtd 2021-05-01 2022-04-30

COMPANY REGISTRATION NUMBER: 04029242

Jazz Investments Limited

Filleted Unaudited Financial Statements

30 April 2022

Jazz Investments Limited

Statement of Financial Position

30 April 2022

	2022		2021
Note	£	£	£

Fixed assets

Tangible assets	4		342,373	342,585

Current assets

Debtors	5	72	3,379
Cash at bank and in hand		27,851	3,743
		--------	-------
		27,923	7,122

Creditors: amounts falling due within one year	6	7,133		13,003
		--------		--------
Net current assets/(liabilities)			20,790	( 5,881)
			---------	---------
Total assets less current liabilities			363,163	336,704

Provisions

Taxation including deferred tax	29,013	29,013
	---------	---------
Net assets	334,150	307,691
	---------	---------

Capital and reserves

Called up share capital	2	2
Fair value reserve	123,688	123,688
Profit and loss account	210,460	184,001
	---------	---------
Shareholders funds	334,150	307,691
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 April 2022 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Jazz Investments Limited

Statement of Financial Position (continued)

30 April 2022

These financial statements were approved by the board of directors and authorised for issue on 25 January 2023 , and are signed on behalf of the board by:

Dr H Moti

Director

Company registration number: 04029242

Jazz Investments Limited

Notes to the Financial Statements

Year ended 30 April 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 286 Aylestone Road, Leicester, LE2 7QT.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of rent receivable for services rendered.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Fixtures & fittings	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

4. Tangible assets

	Investment property	Fixtures and fittings	Total
	£	£	£
Cost
At 1 May 2021 and 30 April 2022	342,162	1,026	343,188
	---------	-------	---------
Depreciation
At 1 May 2021	–	603	603
Charge for the year	–	212	212
	---------	-------	---------
At 30 April 2022	–	815	815
	---------	-------	---------
Carrying amount
At 30 April 2022	342,162	211	342,373
	---------	-------	---------
At 30 April 2021	342,162	423	342,585
	---------	-------	---------

The directors believe that the investment property is shown at fair value in the accounts.

5. Debtors

	2022	2021
	£	£
Trade debtors	–	504
Other debtors	72	2,875
	----	-------
	72	3,379
	----	-------

6. Creditors: amounts falling due within one year

	2022	2021
	£	£
Corporation tax	6,158	6,100
Other creditors	975	6,903
	-------	--------
	7,133	13,003
	-------	--------

7. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2022
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mrs F Moti	2,875	1,617	( 4,492)	–
	-------	-------	-------	----

	2021
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mrs F Moti	( 812)	3,687	–	2,875
	----	-------	----	-------

8. Related party transactions

During the year the company provided an interest free loan to a related party. At 30 April 2022 there was £72 oustanding (2021 :£72).