Jandal Investments Limited - Accounts to registrar - small 16.3d

REGISTERED NUMBER: 00567623

JANDAL INVESTMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

5

Chartered Accountants' Report

6

DIRECTORS:

Mrs D J Parker

A M J Parker

Mrs A E C Collins

SECRETARY:

Mrs D J Parker

REGISTERED OFFICE:

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

REGISTERED NUMBER:

00567623

ACCOUNTANTS:

Duncan & Toplis Limited

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

CURRENT ASSETS

Investments

4

855,487

842,718

Cash at bank

76,612

16,678

932,099

859,396

CREDITORS

Amounts falling due within one year

5

10,152

8,375

NET CURRENT ASSETS

921,947

851,021

TOTAL ASSETS LESS CURRENT LIABILITIES

921,947

851,021

PROVISIONS FOR LIABILITIES

63,097

48,544

NET ASSETS

858,850

802,477

CAPITAL AND RESERVES

Called up share capital

7

100,000

100,000

Retained earnings

758,850

702,477

SHAREHOLDERS' FUNDS

858,850

802,477

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 24 March 2017 and were signed on its behalf by:

Mrs D J Parker - Director

1.	STATUTORY INFORMATION

Jandal Investments Limited is a private company, limited by shares , registered in Not specified/Other. 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial instruments

The company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at

transaction price, unless the arrangement constitutes a financing transaction, where the transaction is

measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective

evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying

amount and the present value of the estimated cash flows discounted at the asset's original effective interest

rate. The impairment loss is recognised in profit or loss.

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or

joint ventures, are initially measured at fair value, which is normally the transaction price.

Such assets are subsequently carried at fair value and the changes in fair value are recognised in the income

statement, except that investments in equity instruments that are not publically traded and whose fair values

cannot be measured reliably are measured at cost less impairment.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are

settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another

party or (c) control of the asset has been transferred to another party who has the practical ability to

unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies

and preference shares that are classified as debt, are initially recognised at transaction price, unless the

arrangement constitutes a financing transaction, where the debt instrument is measured at the present value

of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of

business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year

or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at

transaction price and subsequently measured at amortised cost using the effective interest method.

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 that have been

enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

Investments

Current asset investments are stated at fair value.

Turnover

Turnover comprises income from investments which is recognisable in the accounts as receivable.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2015 - 3 ) .

4.	CURRENT ASSET INVESTMENTS

2016

2015

as restated

£

£

Listed investments

855,487

842,718

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

as restated

£

£

Directors' current accounts

8,604

7,475

Accrued expenses

1,548

900

10,152

8,375

6.	FINANCIAL INSTRUMENTS

The company has the following financial instruments which are measured at fair value through profit or loss:

2016

2015

£

£

Assets/(liabilities)

Derivative asset

855,487

842,718

Income and (expense)

Derivative asset

72,769

32,107

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

as restated

£

£

100,000

Ordinary

£1

100,000

100,000

8.	POST BALANCE SHEET EVENTS

Since the year end the company has paid a dividend totalling £60,000.

9.	FIRST YEAR ADOPTION

Reconciliation of equity

2015

Note

£

Capital and reserves (as previously stated)

851,021

Deferred tax on investments revaluation

i

(48,544

)

Capital and reserves (as restated)

802,477

Reconciliation of profit for the year

2015

Note

£

Profit for the year (as previously stated)

30,918

Deferred tax on investments revaluation

i

(48,544

)

Loss for the year (as restated)

(17,626

)

i Deferred tax

Under previous UK GAAP the company was not required to provide for taxation on revaluations, unless the

company had entered into a binding sale agreement and recognised the gain or loss expected to arise. Under

FRS 102 deferred taxation is provided on the temporary difference arising from the revaluation. A deferred tax

provision of £48,544 was outstanding on 31 December 2015.

The following reproduces the text of the report prepared for the directors and members 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 Statement of Financial Position. Readers are cautioned that the Income Statement and certain

other primary statements and the Report of the Directors 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 Jandal Investments Limited for the year ended 31 December 2016 on pages to 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 Board of Directors of Jandal Investments Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Jandal Investments Limited and state those matters that we have agreed to state to the Board of Directors of Jandal Investments Limited, as a body, 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 Jandal Investments Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Jandal Investments 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 Jandal Investments Limited. You consider that Jandal Investments 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 Jandal Investments 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.

Duncan & Toplis Limited

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

27 March 2017